Subject: File No. 4-500
From: Cris Bahar, President/CEO
Affiliation: WaveScribe International Corp
June 8, 2005
This letter is to voice support regarding Pink Sheets' Request to the SEC for Rulemaking Regarding Member Records of "Short" Positions and Reporting and Public Dissemination.
Pink Sheets has petitioned the SEC to cause the amendment of NASD Rule 3360 and require NASD broker dealers to maintain a record of total "short" positions in all customer and proprietary firm accounts in all publicly traded equity securities as well as report this information to the NASD for public dissemination of the short positions by security. We indeed believe that action by the SEC's is urgently needed to prevent fraudulent acts, expose market manipulation, promote fair principles of trade, and to protect investors as well as issuers.
As a Pink Sheet company who has experienced firsthand the astounding number of unscrupulous entities who prey on and take advantage of companies like ours, simply because they can continue to make money and can hide. It is shameful that legitimate companies must endure this kind of assault simply because they are not a part of the larger boards.
Thank you for considering and hopefully implementing these changes.
WaveScribe International Corp