From: James A. Brodie
Sent: May 17, 2005
Subject: File No. 265-23

Dear Mr. Katz,

This is a new cottage industry [see advertisment below] and the underlying firm is not the only one advising on this tactic. The proposed SEC regulation about registered shareholders is just one step;.it is important that shareholders have a vote about reverse stock splits.

James A. Brodie
Managing Director
Carr Securities