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To: Josef Svejk who wrote (786)	10/29/1998 9:00:00 AM
From: Jeffrey S. Mitchell	Read Replies (2) \| Respond to of 1754

From the SEC file on Emerging Company Report: From at least May 1997 through September 1998, Baillargeon committed or caused violations of Section 17(b) of the Securities Act in that, by the use of means or instruments of transportation or communication in interstate commerce or by use of the mails, he published, gave publicity to, or circulated notices, circulars, advertisements, newspapers, articles, letters, investment services, or communications which, though not purporting to offer a security for sale, described securities for a consideration received or to be received, directly or indirectly, from an issuer, underwriter or dealer, without fully disclosing the receipt, whether past or prospective, of such consideration and the amount thereof. D. As part of and in furtherance of such conduct and activities, Baillargeon publicized more than fifty securities in the ECReport Media. Baillargeon sold to the issuers of these securities "guest appearance packages,"which included a ten-minute guest appearance for the issuer on one ECReport television program, one-minute "vignettes" of the guest appearance on the next three programs, and updates on the issuer's stock price on the next thirteen programs. The package also typically included a company profile in two issues of the ECReport newsletter and three months of internet site promotion and linking from the ECReport web page. For some issuers, Baillargeon also agreed to provide a national press release via Business Wire. E. As part of and in furtherance of such conduct and activities, Baillargeon received, directly or indirectly, compensation ranging from $2500 to $17,000 for each guest appearance package sold. Baillargeon did not disclose in the ECReport Media the amount of money he had received from the issuers to publicize their companies and stock. F. As part of and in furtherance of such conduct and activities, Baillargeon also received, directly or indirectly, compensation in the form of stock from two issuers publicized in the ECReport Media. Baillargeon did not disclose in the ECReport Media that he had received, directly or indirectly, compensation in the form of stock, nor did he disclose the type, amount, or value of the stock he received.