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Microcap & Penny Stocks : DD-CIA Due Diligence Central Intelligence Agency
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To: Jeffrey L. Henken who wrote (117)8/31/1998 9:32:00 PM
From: Jeffrey L. Henken   of 120
 
Columbia Capital Corp. is a big idea. The Company's business of processing financial transactions is projected to grow ten-fold between FYDec97 and FYDec99, driven primarily by demand for outsourcing of back office operations by small-to-mid size banks and other institutions concerned with meeting regulatory compliance standards relating to the Y2K "Millennium Bug" problem. Literally thousands of U.S. banks are vulnerable to closure if they fail to meet compliance milestones as set by the Comptroller of the Currency. The more banks can outsource peripheral activities such as credit and debit card processing, the better they can focus on remediating their core business.

Operating through a Texas based subsidiary, First Independent Computers, Inc., CLCK provides three interrelated financial services on an outsource basis. It links consumers and merchants with credit and debit card issuing institutions by (1) capturing consumer transactions at point of sale, (2) providing credit to merchants as transactions are recorded, (3) posting transactions to card issuing institutions' accounts receivable and general ledger, and (4) finally closing the loop by printing and mailing statements to initiating card holders.

INVESTMENT PROFILE

Founded in 1968 by First State Bank of Abilene as a service for outsourcing financial records for local banks, the business evolved through several incarnations to emerge via reverse merger in Sep97 as a public company with 12.6mm shares outstanding, 2mm of which are publicly traded.

wbn.com:8080/CLCK/index.html

Regards, Jeff
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