From: Bjarne Hedegaard []
Sent: March 29, 2004
Subject: File No. S7-19-03

I am investing from Europe into the US. Seen from my prospective the Board in a company should be totally independent from the company. That means no employees or directors from the company and also no former directors should be allowed to be member of the board in a company. The board should only represent the investors and act in the investors interest.

I have been investin duble digets million USD in US, but have cut it down to a single diget million because of

- directors salery

- boards are not acting in investors interest

Bests regards

Bjarne Hedegaard
Rypevej 12 1. tv.
DK-6430 Nordborg