Subject: File No. 4-500
From: Walter Dill

June 10, 2005

Dear Security Exchange Commission,

We small traders of OTC issues as well as the small and even larger companies whose shares are traded on the OTC market need the protection of a level playing field.

Please do as the NASD and others have requested and amend Rule 3360 to stop this fraudulent trading in naked short selling.


Walter Dill