From: Christopher Grant
To whom it may concern,
As an American citizen and investor, I urge you at the SEC to follow the recommendations in SEC File No. 4-519. Our markets are a wonderful vehicle in which to create wealth and increase the quality of our lives in this wonderful nation. In order for the markets to function properly, they must be orderly. I can tell you from experience, that the OTC market in particular, has itís share of scams that are designed to lure in new investors and fleece them of their capital. I lost approximately, $1,800 in the SLJB promotion and I also lost approximately $300 in CKYS. I suppose I should have listened to some of the red flags out there, but with CKYS especially, the information being released by the companies seemed believable to an extent.
I realize these securities carry higher risks than those listed on the exchanges; however this type of behavior is unacceptable. Iíve read the petition that Mr. Coulson put together on behalf of investors that buy penny stocks and agree that forcing transparency is key. As you know, information is the most valuable commodity in the investment world and I believe it is within the power of the SEC to enforce such transparency on these companies to help investors weed out the scams.
I see that the SEC takes fraud very seriously and has suspended several penny stocks as of late for spam campaigns. I urge you to do all you can on behalf of the investing public to help clean up the OTC markets and restore order. It is the right thing to do.