SENT VIA E-MAIL rule-comments@sec.gov
May 11, 1999
Jonathan G. Katz
Secretary
Securities Exchange Commission
Mail Stop 6-9
450 Fifth Street , N.W.
Washington, D.C. 20549
RE: File No. S7-5-99
Dear Mr. Katz:
I am writing to express my opposition to the proposed amendments to Rule 15C2-11, the rule that governs quoting of my Company’s stock on the NASD OTC Bulletin Board® and the Pink Sheets®.
I strongly believe these proposed SEC amendments would irreparably damage the microcap market and companies like mine where securities are traded in these markets. I believe we will see legitimate market makers leave these markets creating no liquidity for my Company’s stock.
I would appreciate your recognition of my concern in your decision process.
Very truly yours,
Patrick J. Mitchell
PJM/pb
cc: Arthur Levitt
Isaac C. Hunt, Jr.
Norman Johnson
Paul R. Carey
Laura Simone Unger