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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 (205)	5/31/1998 12:48:00 AM
From: biffpincus	Read Replies (2) \| Respond to of 1020

I know this will stir up a hornet's nest, but, please remember I'm posting this for my friend, EdRoofGuy, who has some strong feelings about this company and its future. Instead of flaming me, I think the readers of this board would appreciate a reasoned refutation of Ed's conjectures. So, in the interests of free and unhindered speech, I post this contrarian view of CLCK's future. Ed has told me he will be getting posting privileges on SI in a week or so. I'm sure he will make an appearance here to speak for himself (and take his own heat) as soon as he is able. So, let the fireworks begin! biff XXXXXXXXXXXXXXXXXXXXXXXXXXXX Frm: EdRoofGuy A clear example of how a company is NOT really being true to its sharesholders ... imo ... is CLCK. The two guys that started CLCK ... loaned CLCK operating capital ... thru another company they own .... and in 10-K ... says distinctly "If CLCK defaults on loan ... all assets of company(CLCK) will revert to (loan company--name escapes me now.."Somebody Financing" or some jive). So in effect .... I see (IMO) CLCK potentially defaulting....or at least HAS THE ABILITY to default.....and who ends up screwed?? The shareholders of CLCK!!! The 2 guys who started CLCK appear to me to have taken "all risk" out of their business model, which the risk is their original "$2.1 mil investment". Why is this legal, to be able to 'loan and possibly default' ?????? Isn't capitalism SUPPOSED to 'have risk"???? Only risk these 2 dudes have is gettin' out of the bed in the morning. Nothing else. They CONTROL the whole company....and will control the assets. Watch it......if assets of CLCK fall anywhere near the 2.1 mil $ the 2 guys invested....you can bet your as* they will 'default'...and shareholders have NOTHING. My opinion only ......of course. Of course the 2 guys might not be able to sell their .15cent shares at some future $5 or $8 or whatever the cheerleaders on SI clck board are hypeing .... for another 3 years ..... but they still will get THEIR original money back...and any new 'investor' in CLCK shares gets the shaft!!! The 10-K HAS INDEED set it up that way. Would I invest in some 'scam' like this? Not EdRoofGuy!!!!!!!!!!!! No way baby!!!! And I could care less if some do........Hey Zebra or Mike or Biff....you can again have my permission to cut and paste this part to SI again if ya want!! LOL I'm not joining SI for at least 1 1/2 weeks. I'm sure this will stir up the cheerleaders over there.......LOL I would worry with CLCK also....if they have a loss of one or two of their revenue providers. They did get a new health mgmt. contract......but loss of any current revenue contracts will affect CLCK in neg way. They are making a big deal of the contract with Berthoud National Bank. Hell....Berthoud, Colorado is a town of 6,000 people 50-60 northwest of Denver. Whoopee!!! And the cheerleaders don't realize everybody in the WORLD is makin' debit cards.....from Siemens of Germany......which is about the size of GE....probably one of the largest, to Visa. Do they really think CLCK will become a Visa or Siemens? Gimme a break..... If CLCK "Board of Directors" (which has no independent Directors ... btw. Also their CFO Charles LaMontangue has 1,000 shares....Director Klotz has 2,000,,,,Director Beard has 0 shares...as of March 27, 1998, other 2 directors are the 2 that started company....and they own 85% or so) changed their 10-K setup .... business setup ... I MIGHT invest with them. Not until.....tho. Their current'setup' is the main reason I won't mess with a "Pink Sheet" stock...fwiw ......Ed