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Microcap & Penny Stocks : Columbia Capital Corporation-Computerized Banking (CLCK)
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To: Brenda L. Greer who wrote (432)7/22/1998 1:48:00 PM
From: Jeffrey L. Henken  Read Replies (1) of 1020
 
From the John Westergaard site: Columbia Capital (CLCK 5 3/8 NSDQ): Who Would Expect To Find A Y2K Millennium Play With Legs in Abilene, TX?

wbn.com:8080/

We visited with CEO Ken Klotz of Columbia Capital last week in connection with preparing to launch a WBN-CLCK cyberstation next week. Two reasons stand out for why this is an interesting company: (1) it's growing exponentially, and (2) the reason it's growing is a paradigm shift by banks toward the outsourcing of credit card processing due largely to concerns over Y2K date compliance issues.

Revenues for FYDec97 were $3.1mm. For this year it looks like 3-4x that level, next year possibly another double. At April 1 the Company was processing 465,000 accounts, at June 30th 577,000 accounts, last week a floor superintendent let slip that they're running over 800,000 currently.

We flew down from Dallas with a salesman for a Swiss mail sorting manufacturer who told me he was bidding on $3mm of equipment to process 2mm accounts a week. Hmmm... That's called bird's eye inferential analysis.

Growth is being driven by outsourcing - which is Y2K related business that does not go away after year 2000, not the case with the Y2K tool vendors. Stay tuned for the launch of WBN-CLCK next week.

Great find Brenda!

Regards, Jeff

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