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Microcap & Penny Stocks : Columbia Capital Corporation-Computerized Banking (CLCK)
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To: greg Benfield who wrote (471)7/27/1998 10:50:00 AM
From: Jeffrey L. Henken  Read Replies (1) of 1020
 
I just got off the phone with Mike Markow at World Wide Corporate Finance. This is what I learned about the present situation with BestBank going into receivership and how it will effect CLCK.

There will absolutely be no material effect on CLCK at this time. As I have said before this might even end up being good for Columbia Capital as they establish a relationship with a new bank. Even if the credit card processing accounts are bought by someone who decides not to use CLCK to process their accounts it would take 6 to 8 months before those accounts could possibly be transferred. That means there is no way that the earnings for CLCK will be effected by this situation this year.

But why would they transfer the account anyway? BestBank's credit card processing accounts will probably be bought by a smaller institution who does no in house processing. CLCK is Y2K compliant and extremely cost competitive. I personally do not think we will lose any business.

In fact I expect that we may be getting further details on some of the other contracts CLCK is working on soon. By next year CLCK will be processing hundreds of thousands of new accounts.

Now is a great time to buy CLCK, in my opinion.

Regards, Jeff
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