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To: James E Lynch who wrote (4929)	10/28/1998 5:53:00 PM
From: dbmedia	Respond to of 6467

Mr. Lynch; The SEC is NOT shutting us down and we do not have a problem with the Securities and Exchange Commission under any circumstances. We begin our 3rd year of broadcasting with this week's show. The truth of the matter is quite simple. 1. Section 17b of the Securities Act requires companies and individuals which publicize securities to disclose if they are paid, which we have always done since the program debuted in November of 1996. Emerging Company Report charges featured companies a cash fee of $8,500.00 to cover the costs of production and to earn a profit. One company bought two profiles on our program, hence the $17,000.00 amount referred to. This statement is clear in our Newsletter, at our web site and on the TV program itself. 2. A more ambiguous section of the rule has to do with the actual amount of the compensation. Emerging Company Report accepts cash only and understood the rule to be limited to stock compensation. 3. When the Commission inquired into our disclosure practices as part of a much larger inquiry into many such companies, we had already been disclosing the actual cash amount of our compensation for quite some time. 4. Our attorneys recommended we agree to no longer run our disclaimers without listing the actual cash compensation, even though we had already been following that practice for many weeks. Hence, in the interest of cooperation, we agreed to "Cease & Desist" something we weren't even doing. Emerging Company Report does not recommend companies or their stocks, we do not acquire positions in companies by any means and we do not tell members of our audience to buy stock. We simply offer a reciprocal forum where companies can tell their story to viewers and viewers can see and hear the people behind those companies. I will be happy to discuss this situation with anyone interested. I can be reached at 1-888-259-4449 or via email at info@emergingcompany.com. Visiting our web site at emergingcompany.com can provide anyone with ample information about what it is we do and what we do not. Donald A. Baillargeon Executive Producer

To: James E Lynch who wrote (4929)	11/17/1998 5:03:00 PM
From: dbmedia	Respond to of 6467

To James Lynch, regarding my 10/28/98 Reply # 4931: It was not my intention by that reply to deny any allegation in the Securities and Exchange Commission's October 27, 1998 Order Instituting Public Proceedings Pursuant to Section 8A of the Securities Act of 1933, Making Findings, and Imposing a Cease-and-Desist Order (the "Order") or to create the impression that the Order is without factual basis. I withdraw all statements I made that are inconsistent with the allegations contained in the Order or which suggest that the Order is without factual basis. I understand that the Commission will issue a release that will include the above statement.