Subject: February 17, 1998. [Rel. 34-39670; File No. S7-3-98] (File n
Date:    2/20/98 11:51 AM
     
     
according to bloomberg today, the sec considers requiring market makers 
in stocks traded otc bulletin board/pink sheets to obtain current 
financials on their companies.  while this may prevent certain future 
abuses, currently this rule, coupled with the sec's lack of enforcing 
these same financial disclosure standards, would lead to yet more 
situations where controlling insiders "steal" a public company by simply
not reporting their financials.  this happened to me with a company 
incorporated in colorado, traded on the nasdaq, and reporting for 
several years.  at last report they did $300 million sales, profitably, 
and had net worth of $100 million.  then they stopped reporting, closed 
their US offices, and their stock became close to worthless.  i 
communicated this to the sec properly through channels, sent much 
research, and the only response i have is that the sec keeps all actions
and investigations confidential, and no finanacials have been 
forthcoming.  better for the sec to force publicly traded companies to 
live by the rules than to help them defraud investors with a new tool. 
perhaps the company i invested in was an out-and-out fraud, but i have 
no way of knowing if your agency even checked them out.  what is certain
is that the company devalued my investment totally by simply no longer 
filing financials.  i would be happy to present much more specific 
information regarding this particular case, as well as more opinion on 
this issue, if there is interest.  please respond to me at gurevitz@infinet.com,
via fax at 614-445-3375, or voice 800-848-6489
     
thank you for your consideration.
     
yours truly, Steve Gurevitz, Columbus, Ohio