<SEC-DOCUMENT>0001104659-10-061145.txt : 20110421
<SEC-HEADER>0001104659-10-061145.hdr.sgml : 20110421
<ACCEPTANCE-DATETIME>20101203171950
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001104659-10-061145
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		4
FILED AS OF DATE:		20101203

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TUCOWS INC /PA/
		CENTRAL INDEX KEY:			0000909494
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-COMPUTER PROCESSING & DATA PREPARATION [7374]
		IRS NUMBER:				232707366
		STATE OF INCORPORATION:			PA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		96 MOWAT AVENUE
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M6K 3M1
		BUSINESS PHONE:		4165350123

	MAIL ADDRESS:	
		STREET 1:		96 MOWAT AVENUE
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M6K 3M1

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	INFONAUTICS INC
		DATE OF NAME CHANGE:	19960426

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	INFONAUTICS CORP
		DATE OF NAME CHANGE:	19960315
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
<FILENAME>filename1.htm
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman"><img width="176" height="43" src="g223621bc01i001.jpg"></font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Morgan,
Lewis&nbsp;&amp; Bockius LLP</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1701 Market
Street<br>
Philadelphia, PA&#160; 19103-2921<br>
Tel.&#160; 215.963.5000<br>
Fax: 215.963.5001</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">www.morganlewis.com</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Joanne R. Soslow</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Partner</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">215.963.5262</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">jsoslow@morganlewis.com</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;position:relative;top:.5pt;">December&nbsp;3, 2010</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">VIA EDGAR
AND FACSIMILE (703) 813-6981</font></u></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">United States Securities and</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Exchange Commission</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Division of Corporation
Finance</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">100 F Street, N.E.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Washington, DC&#160; 20549-3628</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Attention:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Patrick Gilmore</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Accounting Branch Chief</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.42%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Re:</font></p>
  </td>
  <td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Tucows
  Inc.</font></b></p>
  </td>
  <td width="46%" valign="top" style="padding:0in 0in 0in 0in;width:46.08%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.42%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Form&nbsp;10-K
  for the Fiscal Year Ended December&nbsp;31, 2009</font></b></p>
  </td>
  <td width="46%" valign="top" style="padding:0in 0in 0in 0in;width:46.08%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.42%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Filed
  March&nbsp;22, 2010</font></b></p>
  </td>
  <td width="46%" valign="top" style="padding:0in 0in 0in 0in;width:46.08%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.42%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Form&nbsp;8-K
  filed November&nbsp;12, 2010</font></b></p>
  </td>
  <td width="46%" valign="top" style="padding:0in 0in 0in 0in;width:46.08%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.42%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="47%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:47.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">File
  No.&nbsp;001-32600</font></b></p>
  </td>
  <td width="46%" valign="top" style="padding:0in 0in 0in 0in;width:46.08%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Dear Mr.&nbsp;Gilmore:</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">On behalf of Tucows Inc. (&#147;<u>Tucows</u>&#148;
or the &#147;<u>Company</u>&#148;), we are responding to the comments of the Staff (the &#147;<u>Staff</u>&#148;)
of the Securities and Exchange Commission (the &#147;<u>Commission</u>&#148;) contained
in your letter, dated November&nbsp;18, 2010, to Mr.&nbsp;Michael Cooperman,
Principal Financial and Accounting Officer of the Company, with respect to the
Company&#146;s Form&nbsp;10-K for the Fiscal Year Ended December&nbsp;31, 2009 (the &#147;<u>Form&nbsp;10-K</u>&#148;)
and the Company&#146;s Form&nbsp;8-K filed November&nbsp;12, 2010 (the &#147;<u>Form&nbsp;8-K</u>&#148;).</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In response to your letter,
set forth below are the Staff&#146;s comments in bold followed by the Company&#146;s
responses.&#160; Enclosed with this letter is
an acknowledgement executed by the Company in accordance with the Staff&#146;s
request.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">United States Securities and</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Exchange Commission</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">December 3, 2010</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Page 2</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;position:relative;top:.5pt;">Form&nbsp;10-K for the Fiscal Year Ended
December&nbsp;31, 2009</font></u></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;position:relative;top:.5pt;">Cover Page</font></u></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 42.0pt;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;position:relative;top:.5pt;">1.</font><font size="1" style="font-size:3.0pt;position:relative;top:.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><font size="2" style="font-size:10.0pt;font-weight:bold;position:relative;top:.5pt;">According to our records, the
correct file number for your Exchange Act filings, including your Form&nbsp;10-K.
is 001-32600 rather than 000-28284. You appear to be using the correct file
number in your Forms 10-Q but the incorrect number in your Forms 10-K and 8-K.
Please confirm that you will use the correct file number in your future
Exchange Act filings.</font></b></p>

<p style="margin:0in 0in .0001pt 42.0pt;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 41.0pt;text-autospace:none;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;position:relative;top:.5pt;">Response</font></u><font size="2" style="font-size:10.0pt;position:relative;top:.5pt;">:</font></p>

<p style="margin:0in 0in .0001pt 41.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 41.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;position:relative;top:.5pt;">The Company acknowledges the Staff&#146;s comment and will
include the correct file number in its future Forms 10-K, Forms 8-K and other
future Exchange Act filings filed with the Commission, as applicable.</font></p>

<p style="margin:0in 0in .0001pt 41.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;position:relative;top:.5pt;">Item 1. Business</font></u></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;position:relative;top:.5pt;">OpenSRS Reseller Services, page&nbsp;3</font></u></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 42.0pt;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;position:relative;top:.5pt;">2.</font><font size="1" style="font-size:3.0pt;position:relative;top:.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><font size="2" style="font-size:10.0pt;font-weight:bold;position:relative;top:.5pt;">We note that you have filed
agreements with ICANN and VeriSign as exhibits. Please tell us what
consideration you have given to providing a brief description of the material
terms of these agreements in your Form&nbsp;10-K, such as the term of each
agreement and the fee structures. Also, we note that Section&nbsp;1.4 of your
Registrar Accreditation Agreement with ICANN indicates that the agreement
expired on June&nbsp;24, 2010. Please tell us the current status of your
contractual arrangements with ICANN.</font></b></p>

<p style="margin:0in 0in .0001pt 42.0pt;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 41.0pt;text-autospace:none;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;position:relative;top:.5pt;">Response</font></u><font size="2" style="font-size:10.0pt;position:relative;top:.5pt;">:</font></p>

<p style="margin:0in 0in .0001pt 41.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 41.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The agreement with ICANN
outlines the Company&#146;s status as an accredited registrar and the agreement with
VeriSign is the Company&#146;s largest agreement with supported registries. These
agreements are standard and are required to operate as a registrar in the
domain name industry. The Company believes that neither agreement contains any
unusual terms or fee structures<b>  </b>that
materially vary from ICANN and VeriSign&#146;s standard form agreements.<b>&#160; </b>Nonetheless,
as a large portion of the Company&#146;s revenue is derived from ICANN-supported
registries and, in particular, from VeriSign, who supply the .com and .net gTDL&#146;s,
the Company felt it appropriate to include these contracts as exhibits.</font></p>

<p style="margin:0in 0in .0001pt 41.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 41.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In response to the Staff&#146;s
comment, the Company will include a summary of all material terms of each
agreement in the description of its business in its future filings </font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2<a name="PB_2_003232_5335"></a></font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">United States Securities and</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Exchange Commission</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">December 3, 2010</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Page <font face="Times New Roman">3</font></font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 41.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">with the Commission, as
applicable.&#160; However, the Company advises
the Staff that it believes that certain material terms of these agreements are
disclosed in the Form&nbsp;10-K, and refers the Staff to the risk factor on page&nbsp;10
of the Form&nbsp;10-K that discusses fees under the VeriSign agreement, and the
discussion of its OpenSRS revenue on page&nbsp;33 that outlines the Company&#146;s
status as an accredited registrar.</font></p>

<p style="margin:0in 0in .0001pt 41.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 41.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">On June&nbsp;22, 2009, the
ICANN agreement was amended to, among other things, extend the term of the
agreement through June&nbsp;30, 2014. The terms of the ICANN agreement
summarized in the Form&nbsp;10-K are representative of the provisions of the
agreement as amended on June&nbsp;22, 2009.&#160;
The Company intends to file the amended ICANN agreement as an exhibit to
the Annual Report on Form&nbsp;10-K for the year ending December&nbsp;31, 2010
(the &#147;Form&nbsp;10-K for fiscal year 2010&#148;)<b>.</b></font></p>

<p style="margin:0in 0in .0001pt 41.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;position:relative;top:.5pt;">YummyNames Domain Portfolio, page&nbsp;4</font></u></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 42.0pt;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;position:relative;top:.5pt;">3.</font><font size="1" style="font-size:3.0pt;position:relative;top:.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><font size="2" style="font-size:10.0pt;font-weight:bold;position:relative;top:.5pt;">We note references in your
earnings conference call for the fourth quarter ended December&nbsp;31, 2009 (&#147;the
Q4 2009 earnings call&#148;) to distribution agreements with Name Media and Sedo, as
well as a relationship with Oversee, a leading auction house that you indicate
should help grow sales of your Gems domain names. In your response letter, please
provide a brief description of your relationships with these companies and tell
us what consideration you have given to discussing these relationships in your Form&nbsp;10-K.&#160; Also, please provide us with your analysis as
to whether you are substantially dependent upon your agreements with these
companies. Refer to Item 601(b)(10)(ii)(B)&nbsp;of Regulation S-K.</font></b></p>

<p style="margin:0in 0in .0001pt 42.0pt;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 41.0pt;text-autospace:none;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;position:relative;top:.5pt;">Response</font></u><font size="2" style="font-size:10.0pt;position:relative;top:.5pt;">:</font></p>

<p style="margin:0in 0in .0001pt 41.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 41.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name Media, Sedo and Oversee
are companies that have specialized in one or more aspects of generating
additional revenue by providing secondary market services for the domain name
industry.&#160; Tucows has entered into
arrangements with each of these companies as they have existing infrastructures
that enable it to take advantage of rapidly evolving secondary market
opportunities for domain names most cost effectively.</font></p>

<p style="margin:0in 0in .0001pt 41.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 41.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Company advises the
Staff that it referenced its arrangements with Name Media, Sedo and Oversee in
the Q4 2009 earnings call to provide additional context to the YummyNames
revenue stream discussion.<b>&#160; </b>These arrangements generate
revenue solely for the Company&#146;s domain portfolio service group, YummyNames,
which generated less than 6% of the Company&#146;s revenue for the nine month period
ended September&nbsp;30, 2010.</font></p>

<p style="margin:0in 0in .0001pt 41.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 41.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">YummyNames derives its
revenue from the Company&#146;s portfolio of domain names by displaying advertising
on these domain names and by reselling or leasing the domain </font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3<a name="PB_3_003250_5796"></a></font></p>

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</div>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">United States Securities and</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Exchange Commission</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">December 3, 2010</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Page <font face="Times New Roman">4</font></font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 41.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">names in the secondary
market.&#160; In providing these services, the
Company has found that partnering with companies that have specialized in one
or more of the aspects of providing secondary market sales, such as Name Media,
Sedo and Oversee, improves the predictability in its YummyNames revenue streams
and is cost effective as such companies already have the required
infrastructure in place.&#160; The Company
believes these arrangements are entered into in the ordinary course of business
and are not material in amount or significance nor is the Company substantially
dependent on any of its arrangements with these companies.</font></p>

<p style="margin:0in 0in .0001pt 41.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 41.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">To the extent that the
Company&#146;s arrangements with any of these providers become material in amount or
significance and the Company becomes substantially dependent on these arrangements,
the Company will reassess whether they should be discussed in its future
filings with the Commission, as applicable, and filed as exhibits to the
Company&#146;s future filings with the Commission, as applicable.</font></p>

<p style="margin:0in 0in .0001pt 41.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;position:relative;top:.5pt;">Item 7. Management&#146;s Discussion and Analysis
of Financial Condition and Results of Operations</font></u></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;position:relative;top:.5pt;">Overview, page&nbsp;32</font></u></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 42.0pt;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;position:relative;top:.5pt;">4.</font><font size="1" style="font-size:3.0pt;position:relative;top:.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><font size="2" style="font-size:10.0pt;font-weight:bold;position:relative;top:.5pt;">We note discussion in the Q4
2009 earnings call of a traffic metric used to evaluate the performance of
butterscotch.com. However, in your Management&#146;s Discussion, you do not appear
to provide a discussion of this or other key metrics that your management uses
in assessing your performance and that would be material to investors. Please
tell us what consideration you have given to expanding the executive overview
section of your Management&#146;s Discussion to include a discussion of key metrics
that give investors a better view of how your business is performing. Please
see Section&nbsp;III.A of SEC Release No.&nbsp;33-8350 for further guidance.</font></b></p>

<p style="margin:0in 0in .0001pt 42.0pt;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 42.0pt;text-autospace:none;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;position:relative;top:.5pt;">Response</font></u><font size="2" style="font-size:10.0pt;position:relative;top:.5pt;">:</font></p>

<p style="margin:0in 0in .0001pt 42.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 42.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Company advises the
Staff that it referenced this traffic metric in the Q4 2009 earnings call to
provide context on the success the Company has been experiencing in growing its
user base for Butterscotch.com and not because the Company deems this traffic
metric to be material to the Company.</font></p>

<p style="margin:0in 0in .0001pt 42.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 42.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">However, material to the
Company and already included in the Management&#146;s Discussion and Analysis (the &#147;<u>MD&amp;A</u>&#148;)
section of the Form&nbsp;10-K is a discussion of the provisioning of domain
names. The Company believes this is a key metric for disclosure as the Company
derives approximately 75% of its revenue from the provisioning of domain
names.&#160; The Company has disclosed in the
MD&amp;A the number of domain transactions from all sources registered during
the current reporting period and the prior </font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4<a name="PB_4_003306_2897"></a></font></p>

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</div>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">United States Securities and</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Exchange Commission</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">December 3, 2010</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Page <font face="Times New Roman">5</font></font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 42.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">year, and when<b>  </b>appropriate, has also disclosed the
year-to-date transaction statistics. In addition, the Company has also
disclosed the number of domain names under its management as of the end of the
current reporting period as compared to the prior year.</font></p>

<p style="margin:0in 0in .0001pt 42.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 41.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">However, in order to clarify
the existing disclosure regarding key metrics and <font style="position:relative;top:.5pt;">give investors a better view of how the Company&#146;s
business is performing</font>, the Company will provide tabular disclosure of
these key metrics in the executive overview section of the MD&amp;A to be
included in the Form&nbsp;10-K for fiscal year 2010 and other future filings
with the Commission, as applicable.&#160;
Furthermore, to the extent that any other metrics to assess performance
become material or have a significant impact on the Company&#146;s
period-over-period results, the Company will reassess whether such metrics
should be discussed in its future filings with the Commission, as applicable.</font></p>

<p style="margin:0in 0in .0001pt 41.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 42.0pt;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;position:relative;top:.5pt;">5.</font><font size="1" style="font-size:3.0pt;position:relative;top:.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><font size="2" style="font-size:10.0pt;font-weight:bold;position:relative;top:.5pt;">Consider supplementing your
overview to provide insight into material opportunities, challenges and risks,
such as those presented by known material trends and uncertainties, on which
your executives are most focused for both the short and long term. For example,
you discuss in a risk factor on page&nbsp;9 that you face significant
competition from other existing registrars and the continued introduction of
new registrars in the domain registration industry, which may force you to
lower your prices and may make it difficult for you to maintain your current
market share. Please tell us what thought you have given to discussing this as
a material risk facing the company in your executive overview as well as the
actions that you are taking to address this challenge. Please refer to Section&nbsp;III.A
of SEC Release No.&nbsp;33-8350 for further guidance.</font></b></p>

<p style="margin:0in 0in .0001pt 42.0pt;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 41.0pt;text-autospace:none;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;position:relative;top:.5pt;">Response</font></u><font size="2" style="font-size:10.0pt;position:relative;top:.5pt;">:</font></p>

<p style="margin:0in 0in .0001pt 41.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 41.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;position:relative;top:.5pt;">The Company acknowledges the Staff&#146;s comment and in
future filings with the Commission, as applicable, will include in the overview
of the MD&amp;A an executive-level discussion of any material opportunities,
challenges and risks, such as those presented by known material trends and
uncertainties, on which its executives are most focused for both the short and
long term.&#160; Although the specific
disclosures for each filing will be dependant on competitive, economic and
other conditions at the relevant time, with respect to risk factor on page&nbsp;9
of the Form&nbsp;10-K, the Company anticipates providing in the overview of its
</font><font size="2" style="font-size:10.0pt;">Form&nbsp;10-K for fiscal year 2010, <font style="position:relative;top:.5pt;">disclosure consistent with the following
paragraph:</font></font></p>

<p style="margin:0in 0in .0001pt 41.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 41.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;position:relative;top:.5pt;">The increased </font><font size="2" style="font-size:10.0pt;">competition in the market
for Internet services, which the Company expects will continue to intensify in
the short and long term, poses a material risk <font style="position:relative;top:.5pt;">for the Company</font><b><i style="font-weight:bold;">.</i></b><font style="position:relative;top:.5pt;">&#160; As new registrars are introduced, existing
competitors expand service offerings and competitors offer price discounts to
gain market share, </font>the Company faces pricing pressure, which can
adversely impact its revenues and profitability.&#160; To </font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5<a name="PB_5_003319_3020"></a></font></p>

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</div>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">United States Securities and</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Exchange Commission</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">December 3, 2010</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Page <font face="Times New Roman">6</font></font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 41.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">address these risks, the
Company has focused on leveraging the scalability of its infrastructure and its
ability to provide proactive and attentive customer service to aggressively
compete to attract new customers and to maintain existing customers.</font></p>

<p style="margin:0in 0in .0001pt 41.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;position:relative;top:.5pt;">Critical Accounting Policies</font></u></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;position:relative;top:.5pt;">Valuation of Intangible Assets. Goodwill
and Long-lived Assets, page&nbsp;37</font></u></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 42.0pt;text-autospace:none;text-indent:-.25in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;position:relative;top:.5pt;">6.</font></b><b><font size="1" style="font-size:3.0pt;font-weight:bold;position:relative;top:.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><font size="2" style="font-size:10.0pt;font-weight:bold;position:relative;top:.5pt;">We note on page&nbsp;F-9 that goodwill
impairment charges were not required during 2007 through 2009. To the extent
that your reporting units have an estimated fair value that is not
substantially in excess of the carrying value and is at potential risk of
failing step one of your goodwill impairment analysis, please tell us and disclose
in future filings:</font></b></p>

<p style="margin:0in 0in .0001pt 42.0pt;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 60.0pt;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><font size="2" style="font-size:10.0pt;font-weight:bold;">The
percentage by which fair value exceeded carrying value as of the most recent
step-one test;</font></b></p>

<p style="margin:0in 0in .0001pt 60.0pt;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><font size="2" style="font-size:10.0pt;font-weight:bold;">The amount
of goodwill allocated to each reporting unit;</font></b></p>

<p style="margin:0in 0in .0001pt 60.0pt;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><font size="2" style="font-size:10.0pt;font-weight:bold;">A
description of the methods and key assumptions used and how the key assumptions
were determined;</font></b></p>

<p style="margin:0in 0in .0001pt 60.0pt;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><font size="2" style="font-size:10.0pt;font-weight:bold;">A
discussion of the degree of certainty associated with the key assumptions; and</font></b></p>

<p style="margin:0in 0in .0001pt 60.0pt;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><font size="2" style="font-size:10.0pt;font-weight:bold;">A
description of potential events and/or changes in circumstances that could
reasonably be expected to negatively affect the key assumptions.</font></b></p>

<p style="margin:0in 0in .0001pt 60.0pt;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 40.5pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;position:relative;top:.5pt;">Alternatively,
if your reporting units are not at risk of failing step-one please disclose
this in future filings.</font></b></p>

<p style="margin:0in 0in .0001pt 40.5pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 41.0pt;text-autospace:none;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;position:relative;top:.5pt;">Response</font></u><font size="2" style="font-size:10.0pt;position:relative;top:.5pt;">:</font></p>

<p style="margin:0in 0in .0001pt 41.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 41.0pt;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">Determination
of Reporting Units</font></i></p>

<p style="margin:0in 0in .0001pt 41.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 41.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In completing its impairment
analysis, the Company first identified the reporting units within the
consolidated Company, with consideration for the provisions of Accounting
Standards Codification (&#147;<u>ASC</u>&#148;) Topic 350 and the related guidance
provided by ASC Topic 280.&#160; In accordance
with these requirements, the Company determines reporting units based on the
level where discrete financial information is available and operating results
are regularly reviewed by segment management.&#160;
Additionally, the Company considered the economic characteristics of
potential components to determine if they are aggregated into one reporting
unit.</font></p>

<p style="margin:0in 0in .0001pt 41.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 41.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Company&#146;s mission is to
make the Internet easier and more effective for users.&#160; The Company seeks to reduce the complexity of
its customers&#146; experience as they acquire, deliver or use Internet
services.&#160; This is accomplished through
various service offerings,</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6<a name="PB_6_003343_7748"></a></font></p>

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<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

</div>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">United States Securities and</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Exchange Commission</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">December 3, 2010</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Page <font face="Times New Roman">7</font></font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 41.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">as discussed in the Company&#146;s
MD&amp;A, including domain name registration, hosted email and other Internet
services.</font></p>

<p style="margin:0in 0in .0001pt 41.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 41.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Despite the variety of its
service offerings, there is commonality with respect to the Internet-based
nature of the Company&#146;s services, its interactions with customers on a
consolidated basis, similar technical design criteria and the extensive use of
common infrastructures (i.e. network, sales and marketing, support and
administrative) in delivering the services.&#160;
The Company&#146;s management does review revenues and adjusted cost of
revenues (before network costs) by service line; however, no attempt is made to
allocate the remaining expenses which are managed on functional lines due to
the similarities noted above.&#160; Instead,
operating results are reviewed on a company-wide basis.&#160; Therefore, discrete financial information
beyond adjusted gross margin is not available at a level below the consolidated
basis and is not reviewed by management to make decisions about resources to be
allocated and assess performance.</font></p>

<p style="margin:0in 0in .0001pt 41.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 41.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">As a result, in accordance
with ASC Topic 280, the Company has determined that it has one operating
segment, since the Chief Operating Decision Maker, which in the Company&#146;s case
is its Chief Executive Officer, reviews the operating results of the Company as
a whole and discrete financial information is only available at this level.
This analysis also applies to the Company&#146;s determination of reporting units.
Consequently, the Company has determined that it has one reporting unit and
performs its impairment test at the consolidated level.</font></p>

<p style="margin:0in 0in .0001pt 41.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 41.0pt;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">December&nbsp;31,
2009 Impairment Testing</font></i></p>

<p style="margin:0in 0in .0001pt 41.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 41.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">When completing its December&nbsp;31,
2009 impairment testing, the Company first used a market capitalization
approach based on the publicly traded common shares of the Company to estimate
fair value. After assessing the share price in close proximity to year-end, the
Company used the closing price of its common stock at December&nbsp;31, 2009.
After determining the Company&#146;s market capitalization, the Company made
adjustments for excess cash and long-term debt to arrive at an enterprise
value.&#160; This enterprise value exceeded
the carrying value of the net operational assets of the reporting unit, being
the entire Company adjusted for non-operational assets and liabilities, by
approximately 79%.&#160; The Company did not
include a control premium in the reconciliation, given the significant surplus
that already existed.</font></p>

<p style="margin:0in 0in .0001pt 41.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 41.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Although this step indicated
that no impairment existed, the Company did prepare a discounted cash flow
analysis to corroborate the findings.&#160; As
you have noted in Comment 7, the Company&#146;s accounting policy does not reflect
the discounted cash flow approach, and accordingly the Company will update this
policy disclosure in its Form&nbsp;10-K for fiscal year 2010.&#160; The Company&#146;s discounted cash flow analysis
was based on forecasted results derived from the Company&#146;s budgeting process
and a risk-adjusted weighted average cost of capital of approximately 18%.&#160; When completing this analysis, </font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7<a name="PB_7_003712_7056"></a></font></p>

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</div>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">United States Securities and</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Exchange Commission</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">December 3, 2010</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Page <font face="Times New Roman">8</font></font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 41.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">the Company determined that
the fair value exceeded the carrying value by approximately 100%. This result
was compared to the market capitalization approach above and reconciled
qualitatively through the absence of a control premium in the above
calculation. Though the forecasted cash flows and discount rate are subject to
management judgment and could be adversely impacted by changing circumstances,
the Company determined that the step one conclusion was not sensitive to
reasonable changes in these assumptions, given the surplus that was calculated
and the consistency of the conclusions reached using the two methodologies.</font></p>

<p style="margin:0in 0in .0001pt 41.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 41.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In its future filings with
the Commission, as applicable, the Company will provide enhanced disclosure
consistent with the response above, and will assess its step one results and
disclose either the circumstances surrounding the risk of failure or the
absence of risk, as appropriate.</font></p>

<p style="margin:0in 0in .0001pt 41.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;position:relative;top:.5pt;">Item 8. Financial Statements and
Supplementary Data</font></u></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;position:relative;top:.5pt;">Note 2 - Significant Accounting Policies</font></u></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;position:relative;top:.5pt;">(e)&nbsp;Goodwill and Intangible Assets,
page&nbsp;F-9</font></u></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 42.0pt;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;position:relative;top:.5pt;">7.</font><font size="1" style="font-size:3.0pt;position:relative;top:.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><font size="2" style="font-size:10.0pt;font-weight:bold;position:relative;top:.5pt;">We note that the first step of
your impairment test is based upon a market approach that utilizes the value of
your common stock to estimate fair value. We further note on page&nbsp;F-18
that you test goodwill impairment on a reporting unit basis and the table you
provide appears to indicate that you have four reporting units. Given that it
appears that you have four reporting units, please describe in further detail
how the value of your common stock is used to determine the fair value of each
reporting unit when performing step one of your goodwill impairment test. Refer
to any authoritative guidance you relied upon when determining your accounting.</font></b></p>

<p style="margin:0in 0in .0001pt 42.0pt;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 42.0pt;text-autospace:none;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;position:relative;top:.5pt;">Response</font></u><font size="2" style="font-size:10.0pt;position:relative;top:.5pt;">:</font></p>

<p style="margin:0in 0in .0001pt 42.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 42.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">As discussed in the response
to Comment 6 above, the Company has one reporting unit.&#160; The tabular disclosure provided on page&nbsp;F-18
of the financial statements included in the Form&nbsp;10-K outlines the
acquisitions that gave rise to the goodwill, rather than the allocation of
goodwill balances to reporting units.&#160;
The Company advises the Staff that it will include disclosure to clarify
this distinction in its future filings with the Commission, as applicable.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">8<a name="PB_8_003731_5335"></a></font></p>

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</div>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">United States Securities and</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Exchange Commission</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">December 3, 2010</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Page <font face="Times New Roman">9</font></font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;position:relative;top:.5pt;">Item 9A (T). Controls and Procedures</font></u></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;position:relative;top:.5pt;">Disclosure Controls and Procedures, page&nbsp;62</font></u></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 42.0pt;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;position:relative;top:.5pt;">8.</font><font size="1" style="font-size:3.0pt;position:relative;top:.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><font size="2" style="font-size:10.0pt;font-weight:bold;position:relative;top:.5pt;">While we note that your
management concluded that disclosure controls and procedures as of the end of
the period covered by this report are &#147;functioning effectively;&#148; this
effectiveness conclusion is stated in terms that do not conform with the language
set forth in Exchange Act Rule&nbsp;13a-15(b). In your response letter, please
tell us whether your management concluded that your disclosure controls and
procedures were effective as of the end of the period covered by the report.
Further, in your future filings, please clarify; if true, that your officers
concluded that your disclosure controls and procedures are effective. Similar
concerns apply to your subsequent Forms 10-Q.</font></b></p>

<p style="margin:0in 0in .0001pt 42.0pt;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 41.0pt;text-autospace:none;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;position:relative;top:.5pt;">Response</font></u><font size="2" style="font-size:10.0pt;position:relative;top:.5pt;">:</font></p>

<p style="margin:0in 0in .0001pt 41.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 41.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Company advises the
Staff that its management concluded that the Company&#146;s disclosure controls and
procedures were effective as of the end of the 2009 fiscal year, the period
covered by the Form&nbsp;10-K. The Company further advises the Staff that, if
true, it will include disclosure consistent with this response in its future
filings with the Commission, as applicable.</font></p>

<p style="margin:0in 0in .0001pt 41.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:3.0pt;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;position:relative;top:.5pt;">Item 10. Directors, Executive Officers
and Corporate Governance, page&nbsp;63</font></u></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 42.0pt;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;position:relative;top:.5pt;">9.</font><font size="1" style="font-size:3.0pt;position:relative;top:.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><font size="2" style="font-size:10.0pt;font-weight:bold;position:relative;top:.5pt;">In your future filings, please
provide a full five year description of all positions held by your officers and
directors, with no gaps or ambiguities with regard to time, See Item 401(e)&nbsp;of
Regulation S-K. For example, please specify the dates for which Mr.&nbsp;Gissin
has served as CEO of BCID Ltd. and the dates that Mr.&nbsp;Ito has served as
CEO of Creative Commons.</font></b></p>

<p style="margin:0in 0in .0001pt 42.0pt;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 42.0pt;text-autospace:none;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;position:relative;top:.5pt;">Response</font></u><font size="2" style="font-size:10.0pt;position:relative;top:.5pt;">:</font></p>

<p style="margin:0in 0in .0001pt 42.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 42.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Company advises the
Staff that Mr.&nbsp;Gissin, 51, has served since September<b>  </b>2005 as the Chief Executive Officer of
BCID Ltd., an investment company focused on infrastructure development projects
in China.&#160; With respect to the remaining
gaps and ambiguities in the director and officer biographies included in the Form&nbsp;10-K,
the Company has addressed certain of these deficiencies in its proxy statement
filed with the Commission on August&nbsp;9, 2010, (the &#147;<u>2010 Proxy Statement</u>&#148;).&#160; For example, the 2010 Proxy Statement states
that &#147;Mr.&nbsp;Ito, 43, has served since April&nbsp;2008 as the Chief Executive
Officer of Creative Commons, a non-profit corporation.&#148;&#160; <font style="position:relative;top:.5pt;">The Company further advises the Staff that it will
include a full five year description of all positions held by the Company&#146;s
officers and directors, with no gaps or ambiguities with regard to time, in its
future filings with the Commission, as applicable.</font></font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">9<a name="PB_9_003746_5796"></a></font></p>

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">United States Securities and</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Exchange Commission</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">December 3, 2010</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Page <font face="Times New Roman">10</font></font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;position:relative;top:.5pt;">Governance Principals, page&nbsp;66</font></u></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 42.0pt;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;position:relative;top:.5pt;">10.</font><font size="1" style="font-size:3.0pt;position:relative;top:.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><font size="2" style="font-size:10.0pt;font-weight:bold;position:relative;top:.5pt;">We note that you have included
disclosure regarding your board of director&#146;s leadership structure and role in
risk oversight in this section, and that you address your consideration of
diversity in recommending nominees for directors on page&nbsp;68. It does not
appear, however, that you have provided similar disclosure in your definitive
proxy statement filed on August&nbsp;9, 2010. Please note that the disclosure
required by paragraphs (c)(2)(vi)&nbsp;and (h)&nbsp;of Item 407 of Regulation
S-K must be included in your proxy statement. Refer to Item 7 of Schedule 14A
Please confirm that you will provide such disclosure, as applicable, in your
future proxy statements.</font></b></p>

<p style="margin:0in 0in .0001pt 42.0pt;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 41.0pt;text-autospace:none;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;position:relative;top:.5pt;">Response</font></u><font size="2" style="font-size:10.0pt;position:relative;top:.5pt;">:</font></p>

<p style="margin:0in 0in .0001pt 41.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 41.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;position:relative;top:.5pt;">The Company acknowledges the Staff&#146;s comment and advises the
Staff that it will provide the disclosure required by paragraphs (c)(2)(vi)&nbsp;and
(h)&nbsp;of Item 407 of Regulation S-K in its future filings with the
Commission, as applicable.</font></p>

<p style="margin:0in 0in .0001pt 41.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;position:relative;top:.5pt;">Form&nbsp;8-K Filed November&nbsp;12,
2010</font></u></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 42.0pt;text-autospace:none;text-indent:-.25in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;position:relative;top:.5pt;">11.</font></b><b><font size="1" style="font-size:3.0pt;font-weight:bold;position:relative;top:.5pt;">&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><font size="2" style="font-size:10.0pt;font-weight:bold;position:relative;top:.5pt;">We note your disclosure of &#147;Cost of Revenue before Network
Costs.&#148; This appears to be a non-GAAP measure. Please tell us how you
considered the disclosures required by Regulation G.</font></b></p>

<p style="margin:0in 0in .0001pt 42.0pt;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 42.0pt;text-autospace:none;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;position:relative;top:.5pt;">Response</font></u><font size="2" style="font-size:10.0pt;position:relative;top:.5pt;">:</font></p>

<p style="margin:0in 0in .0001pt 42.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 42.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Company acknowledges the
Staff&#146;s comment and advises the Staff that it did not intend to use a non-GAAP
measure in the earnings release furnished to the Commission as Exhibit&nbsp;99.1
to the Form&nbsp;8-K.&#160; However, upon
further review, the Company has determined that the &#147;Cost of Revenue before
Network Costs&#148; provided in such earnings release is a non-GAAP measure and that
the Company has not provided the disclosures required by Regulation G.&#160; The Company refers the Staff to the MD&amp;A
on page&nbsp;26 of the Quarterly Report on Form&nbsp;10-Q filed with the
Commission on November&nbsp;12, 2010 (the &#147;<u>2010 Form&nbsp;10-Q</u>&#148;), which
includes a reconciliation to &#147;Cost of Revenues&#148;, the comparable GAAP measure,
as required by Regulation G.</font></p>

<p style="margin:0in 0in .0001pt 42.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 42.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">While the Company&#146;s
management believes that the presentation of &#147;<font style="position:relative;top:.5pt;">Cost of Revenue before Network Costs&#148;</font>&#160;in its earnings release provides useful information
to investors regarding the Company&#146;s financial condition and operating results,
in future earnings releases the Company intends to provide cost of revenues on
a GAAP basis, consistent with the aforementioned presentation in the 2010 Form&nbsp;10-Q.&#160; In addition, if the Company does provide &#147;Cost
of Revenue before Network Costs&#148; or other non-GAAP measures in future earnings
releases, the Company will include a reconciliation to the comparable GAAP
measure and will comply with the other non-GAAP disclosure and reconciliation
requirements of Regulation G, as applicable.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10<a name="PB_10_003804_2897"></a></font></p>

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</div>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">United States Securities and</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Exchange Commission</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">December 3, 2010</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Page <font face="Times New Roman">11</font></font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;position:relative;top:.5pt;">* * * * * * * * * * * * * * *
* * * * * * * * *</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;position:relative;top:.5pt;">If you have any questions, please feel free to contact me at (215)
963-5262.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;position:relative;top:.5pt;">Sincerely,</font></p>
  </td>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;position:relative;top:.5pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;position:relative;top:.5pt;">/s/ JOANNE R. SOSLOW</font></p>
  </td>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;position:relative;top:.5pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;position:relative;top:.5pt;">Joanne R. Soslow</font></p>
  </td>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;position:relative;top:.5pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .2in;text-indent:-.2in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;position:relative;top:.5pt;">cc: Michael Cooperman (Tucows
Inc.)<br>
Elliott Noss (Tucows Inc.)</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;position:relative;top:.5pt;">Enclosure</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">11<a name="PB_11_003913_3020"></a></font></p>

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</div>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="3" face="Times New Roman"><img width="200" height="57" src="g223621bc03i001.jpg"></font></p>
  </td>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="3" face="Times New Roman"><img width="171" height="57" src="g223621bc03i002.jpg"></font></p>
  </td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;position:relative;top:.5pt;">Decenmber 3, 2010</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">VIA EDGAR
AND FACSIMILE (703) 813-6981</font></u></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">United States Securities and</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Exchange Commission</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Division of Corporation
Finance</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">100 F Street, N.E.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Washington, DC&#160; 20549-3628</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Attention:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Patrick Gilmore</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Accounting Branch Chief</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.42%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Re:</font></p>
  </td>
  <td width="67%" valign="bottom" style="padding:0in 0in 0in 0in;width:67.32%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Tucows
  Inc.</font></b></p>
  </td>
  <td width="26%" valign="top" style="padding:0in 0in 0in 0in;width:26.26%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.42%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="67%" valign="top" style="padding:0in 0in 0in 0in;width:67.32%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Form&nbsp;10-K
  for the Fiscal Year Ended December&nbsp;31, 2009</font></b></p>
  </td>
  <td width="26%" valign="top" style="padding:0in 0in 0in 0in;width:26.26%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.42%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="67%" valign="top" style="padding:0in 0in 0in 0in;width:67.32%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Filed
  March&nbsp;22, 2010</font></b></p>
  </td>
  <td width="26%" valign="top" style="padding:0in 0in 0in 0in;width:26.26%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.42%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="67%" valign="top" style="padding:0in 0in 0in 0in;width:67.32%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Form&nbsp;8-K
  filed November&nbsp;12, 2010</font></b></p>
  </td>
  <td width="26%" valign="top" style="padding:0in 0in 0in 0in;width:26.26%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.42%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="67%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:67.32%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">File
  No.&nbsp;001-32600</font></b></p>
  </td>
  <td width="26%" valign="top" style="padding:0in 0in 0in 0in;width:26.26%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Dear Mr.&nbsp;Gilmore:</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In connection with the
comments of the Staff of the Securities and Exchange Commission (the &#147;<u>Commission</u>&#148;)
contained in your letter, dated November&nbsp;18, 2010, to Mr.&nbsp;Michael
Cooperman, Principal Financial and Accounting Officer of Tucows Inc. (the &#147;<u>Company</u>&#148;),
with respect to the above referenced filing, the Company hereby acknowledges
the following:</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 60.0pt;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">the Company is responsible
for the adequacy and accuracy of the disclosure in the above-referenced filing;</font></p>

<p style="margin:0in 0in .0001pt 60.0pt;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 60.0pt;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">staff comments or changes to
disclosure in response to staff comments do not foreclose the Commission from
taking any action with respect to the filing; and</font></p>

<p style="margin:0in 0in .0001pt 60.0pt;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 60.0pt;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">the Company may not assert
staff comments as a defense in any proceeding initiated by the Commission or
any person under the federal securities laws of the United States.</font></p>

<p style="margin:0in 0in .0001pt 60.0pt;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We have authorized our
counsel, Morgan, Lewis&nbsp;&amp; Bockius LLP, to prepare and submit, on behalf
of the Company, a response to your specific comments.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
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<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Sincerely,</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">TUCOWS INC.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.66%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
  </td>
  <td width="39%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:39.42%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ ELLIOT NOSS</font></p>
  </td>
  <td width="53%" valign="top" style="padding:0in 0in 0in 0in;width:53.92%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.66%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:</font></p>
  </td>
  <td width="39%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:39.42%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Elliot Noss</font></p>
  </td>
  <td width="53%" valign="top" style="padding:0in 0in 0in 0in;width:53.92%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.66%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>
  </td>
  <td width="39%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:39.42%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Chief Executive Officer</font></p>
  </td>
  <td width="53%" valign="top" style="padding:0in 0in 0in 0in;width:53.92%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

</div>
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`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
