September 23, 2005

Jonathan G. Katz
Secretary, Securities Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549

With a copy to:

Barbara Z. Sweeney
Senior Vice President and Corporate Secretary, NASD
1735 K Street, NW
Washington DC 20006-1500;

SUBJECT: SEC File No. 4-500. Request for Rulemaking Regarding Member Records of "Short" Positions and Reporting and Public Dissemination of Aggregate Positions by Security.

Dear Mr. Katz and Dear Ms. Sweeney,

I am writing to you as the CEO of a public company as well as an investor in SiVault Systems. We too have been victims of “short” trading in our stock. During Feb and March 2005, together with Gil Amelio (Chairman of SiVault Systems at that time) I have presented the company and its business plan to approx 25 Hedge Funds in order to secure funding for the company. Apart for the fact that funding never happened; dubious trading started which devalued our price per share considerable.

It is a know fact that “short positions” is a money maker and small public company like SiVault Systems suffer the consequences.

I urge you to support this request and feel free to call me at any time for clarifications or questions.

Best regards and thank you for your consideration.

Emilian