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Microcap & Penny Stocks : Columbia Capital Corporation-Computerized Banking (CLCK) -- Ignore unavailable to you. Want to Upgrade?

To: Jeffrey L. Henken who wrote (51)	5/21/1998 12:51:00 PM
From: SIer formerly known as Joe B.	Read Replies (1) \| Respond to of 1020

Here's what scares me: Reliance on Customers. The Company relies upon three customers for 73% of gross revenues. The Company's largest customer represents over 30% of the Company's revenue for the fiscal year ended December 31, 1997 and 70% of the Company's gross revenue during the three months ended December 31, 1997 and is expected to represent a larger percentage of revenue in the future. If one or more of these three customers were to cease doing business with the Company, it could have a material adverse effect on the Company's business. The Company's largest customer has committed to a five-year contract which began on October 1, 1997. This customer and the anticipated short term future growth in the business are derived from the Master Agreement with BestBank which was arranged for by Messrs. Baetz and Gallant or their affiliates. Management believes that the contract will be honored for the full term and ultimately renewed. However, no assurance can be given to this effect. and to a lesser degree: The industry segments in which the Company's business operates are highly competitive. The Company competes with major and independent providers of services in the credit card industry. Some of the companies with which the Company competes are substantially larger, have more substantial histories, backgrounds, experience and records of successful operations, greater financial, technical, marketing and other resources, more employees and more extensive facilities than the Company has or will have in the foreseeable future. In addition, the Company competes with businesses that internally perform data processing or other services offered by the Company.