Magellan Technology, Inc.
13526 South 110 west
Draper, Utah 84020
801-495-1188
Jonathan G. Kratz
Secretary, Securities Exchange Commission
Mail Stop 6-9
450 Fifth Street, N.W.
Washington, D.C.
April 6, 1999
Dear Mr. Kratz:
I am writing to voice my strong opposition to the proposed amendments to Rule 15c2-11, the rule that governs quoting of our companies stock on the NASD OTC Bulletin Board and the Pink Sheets.
I strongly oppose File No. S7-5-99. I feel the passage of this amendment to the above stated rule would take away a vital link for emerging companies to many of the capital markets and greatly diminish our ability to grow and flourish as a fledgling company. In addition, our ability to offer stock options and by so doing, retain qualified employees would be greatly diminished and probably extinguished.
Again, I am opposed to File No. S7-5-99 and to any changing of rule 15c2-11. If there is anything we can do to show our concern, please let us know.
Thank You,
Douglas M. Angus
Vice-President and CFO
Magellan Technology, Inc.
Reed E. Steiner
Corporate Controller
Magellan Technology, Inc.