Subject: File No. 4-500
From: Peter J. Pappas
Affiliation:

May 2, 2005

Subject: Petition for Commission Action to Require Short interest Reporting for all Over-the-Counter Equity Securities:

Reference SEC file 4-5000 request for rulemaking regarding member records of "short" position reporting and public dissemination of aggregate positions

Gentlemen:

We are supportive of the Pink Sheets LLC respectfully petitions the Securities and Exchange Commision to mandate an amemdment to rule 3360 0f the rules of fair practice of the National Association of Securities Dealers,inc that would require NASD members to maintain a record of total short positions in all customer and propriety firm accounts in all publicly traded equity securities and report this information to the NASD for public dissemination of the aggregate positions by security.

Respectfully submitted,

Peter J. Pappas
Major investor
Gateway Access Solutions Inc.
Listed on Pink Sheets