Author: schanock at Internet Date: 12/15/1999 12:14 PM Subject: File no. S7-24-99 It was with great pleasure that I read that the SEC is considering regulating short sales in OTC:BB stocks. I have personal experience in this arena that leads me to believe that reform is sorely needed in this matter. Are such abuses the "rites of passage" for small companies as they struggle to grow and gain a place in the marketplace? I argue that they are not. These market maker activities rob companies of equity, depress their share price, and require greater dilution should the company attempt to use its stock for currency. Were such an injustice carried out against a major stock such as INTC, the uproar and lawsuits would be spectacular. OTC:BB companies deserve the same protection under the law--there is no rational basis for any other position, as I see it. I very strongly urge the SEC to extend regulation of market maker shorting activities to the OTC:BB, so that stocks there will trade correctly, fairly, and will not have their market makers working against the shareholder. 1) We the Individual Investing public, want to have the shorting Rules that currently cover the Main Exchanges (the NASDAQ, NYSE, and the AMEX), Extended to the stocks and companies that trade on the OTCBB, and 2) We the Individual Investing Public, want to make sure that the Uptick rule is KEPT IN PLACE for our protection so as to avoid 'bear raids' and 'pile on' attacks by the shorts! Thank you, Dan R. Schanock