Subject: File No. S7-06-13
From: David A Cornelson

August 27, 2013

As an entrepreneur for the last seven years, I have always considered the fundraising laws seriously flawed. The new regulation allowing open fundraising is a long overdue change.

However that drastically needed change is being offset by the onerous rules of reporting and the threat of a ban.

I understand there's a need to protect people from scans and fraudulent activities. It's important for even the lowest level investors have some protections. But penalizing legitimate firms is not the right answer.

David A. Cornelson, Founder President
Textfyre, Inc.