Millenia has not demonstrated any harm to third parties. Although Millenia alleges that the NASD's actions make it difficult for the firm's existing shareholders, Millenia has not pointed to any specific harm that has occurred. We also believe that the public interest weighs against a stay here. We believe that Millenia's arguments on the merits are outweighed by its delay in pursuing this stay and the remaining factors discussed above. Millenia's nearly two-month delay before requesting the stay further suggests that a stay is not an appropriate remedy.
Stays preserve the status quo pending review of the action stayed.
In light of these considerations, we determine that issuing the stay would not serve the public interest. For the Commission by the Office of the General Counsel, pursuant to delegated authority. The Commission's records reflect that the staff issued comments on Millenia's Form 10-SB on April 4, 2000. Millenia also filed a quarterly report on Form 10-Q on April 18, 2000.