Subject: File No. S7-08-08
From: RON PHOEBUS
Affiliation: FINANCE MANAGER

March 27, 2008

Dear Sirs,

I am an injured shareholder because of the failure to deliver a stock. I have been in several penny stocks and I know they are a gamble at best, but it least give the public a fare shot at buying them. For a broker to say he bought them is fraud when he has no plan to buy them And should be disbarred from participating in this stock. there has to be a regulator or there is crime being commited.thats why we have the police and other federal agencys.and my business we sell cars if I take someones money the car has to be registered in 30days according to the DMV if the car is not registered the bank with the lien holder or the DMV police the action with out them we could just sell the car keep the money and sit back and wait maybe they will forget give us more float time? It is crazy to even think you need people to comment about you enforcing your own job It is a shame that you can not even make a decision on your own. Right is right and wrong is wrong it is that simple

PS: Lets see what Bear Sterns is hiding in the derivatives market and why the Government Regulators have to get involved