Subject: Rule 15c2-11

Date:    11/22/99 11:35 AM
     
     
Dear Sir,
Regarding Rule 15c2-11 I wish to share my views in opposition to this 
proposed rule. I invest heavily in these companies that are going to be 
hurt indirectly by this proposed rule.If passed the liquidity in these 
companies is going to be non-existent. Not only are thousands of investors 
going to be wiped out but these emerging companies are no longer going to 
have access to the equity markets.Although well intentioned it will have 
just the opposite effect on folks like me. 
If i could make a suggestion:
Forget about Rule 15c2-11. When people invest in these small companies you 
invest in the success or failure of that particular business.Buyer beware 
should be the motto.
If you were really serious about protecting the interests of the small 
investor i would suggest you inact some kind of reglation limiting the size 
of these reverse spilts that some of these companies come up with. No 
single measure would protect the investor as much as this one.
Thankyou for your time.I hope you come to the correct decision for myself 
and thousands of other investors that CHOOSE to invest in these start up 
companies.
Wayne Ohlhausen