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Microcap & Penny Stocks : LML Payments Systems, Inc. (LMLP) -- Ignore unavailable to you. Want to Upgrade?

To: robert howard who wrote (3)	4/29/1998 1:11:00 PM
From: Andrew G.	Read Replies (1) \| Respond to of 122

Robert: Wake up LMLAF can't stop going up. Volume growing fast Last Change (%)Bid (size)Ask (size)Volume 2 9/16+7/16 (20.59)2 1/2 (20)2 9/16 (5)281,300 'just got off the phone with Mr. Jim Ness the IR (for over 12 yrs) for Leisureway Marketing, inc. The facts as he reported them to me: -They are reporting to SEC 20F forms - 9.6M shares outstanding, 1M float - 3000 shareholders -bluesky status in all 50 states (canadian company) -subsidiary called Check Mark in Florida - their patented process was tested for 4-5 years and is now being marketed -one non-exclusive two year agreement with Unicomp. As mentioned on the LMLAF thread Unicomp integrates their software with Leisureways for PC based systems and cash registers. Used in essentially all retail environments: dept. stores, groceries, etc. Unicomp will handle the marketing of the product to the merchants. -March 11th they announced the patent on Dow Jones newswire -March 17 th they announced a second agreement with Cross Check of California the 4th largest check processor in US. -Leisureway makes money several ways: .20 -.30 per check transcaction fee plus royalty fee for usage. The royalty fee in not disclosable. They want it to be standard for all agreements. There is an optional 1% of check value fee for some additional guarantee. What their patented product does: paperless checking in check verification. A retailer can accept your check anywhere in the U.S. and by the next day the cash can be transferred from the checkwriter's account into the retailer's account. The HW basically scans the check electronically and using the SW interface of Leisureway, the check can be guaranteed and verified according to standard industry practice. Competition: apparently none at this time What are the benefits of their product: 1) Speed of check processing. 2) Essentially emulates MC and VISA processing of CCards so cashier training is minimal 3)Merchant gets payment within 48 hrs like they do with MC and VISA, no long wait for check to clear 4) Processing fee is actually about 1% below CCard transaction fee charged by MC and VISA Potential business: 36 Billion checks processed annually for $635B of transaction value -There are two client rosters for Leisureway : Guarantee Companies and Verification Companies. Some companies, like Telecheck do both. Guarantee means the company will guarantee to the merchant the face value of each processed check for a fee. Verification means the company will process the check with through the bank to determine it's credit worthiness. There are approximately 20 guarantee and 20 verification companies . Telecheck processes $32B worth of checks. (IMO, If they get an agreement with them, you can kiss this baby good bye, especially with only a 1M float). Regarding income: last quarter they had a loss of -.0136, essentially breakeven. Upcoming quarter will probably report a small loss due to moving expenses which will be reported in late May- early July. The last (4th qtr) they due expect profitability and that will be reported in Jan-March '99. They are currently persuing 4-5 more agreements. Investor relations: Mr. Jim Ness 1-888-800-2260 (very pleasant, patiently answered all questions, willing to answer any further) Leisureway Marketing, Inc. 1140 West Bender Street, Suite 1680 Vancouver, BC V6E4G1