From: William D. Coogle []
Sent: December 15, 2003
Subject: File No. S7-23-03

I am a securities professional and have been involved in the market , mostly small and micro-caps for over 20 years. The regulations included in proposed regulation SHO should be inacted ASAP. There IS a very large abusive short selling contingent in the US OTC markets and IMO its not only related to Toxic Financings. Please inact this regulation to preserve the integrity of the markets and finally put an end to the de-valuation of small companies through the artificial increase in the floats of those type of companies.

Thank You

William D. Coogle