Message #1 From:
NewsBot Date: March 18, 2005 02:27:22 PM
CLSI Clancy Systems International Inc, Stock Trading Message Board News
Clancy Receives Twelve-Million Dollar Point of Sale Commitment
DENVER
Clancy Systems International, Inc.
Stanley Wolfson, 303-753-0197
www.clancysystems.com
or
Salem Capital
www.salemcapitalgroup.com
Clancy Systems International, Inc. (OTCBB:CLSI)(Clancy) announced today that it closed a twelve-million dollar "Point of Sale" financing commitment by Salem Capital Group.
The proceeds, when required, will be used to expand Clancy's current customer base with new products and services while upgrading existing customers to "cutting edge" technology and integrated parking business solutions. The capital line will also enable Clancy to seriously analyze a variety of proposed mergers and acquisitions both in and outside it's core-parking industry.
Background
Clancy Systems International, Inc. based in Denver, Colo., has grown organically and operates profitably since it's founding in 1986. Clancy is an industry leader providing services, hardware, software, parking enforcement and revenue control systems to municipalities, universities, private parking operators, airports and transit agencies in the United States, Puerto Rico, Canada, and South America.
Clancy's expertise has aided in the development of several internet-based products and services including parking ticket payment, parking permit fulfillment, and Clancy's newest entry, "Park-by-Phone".
Salem Capital Group of Bannockburn, Ill., specializes in providing point of sale financing programs for manufacturers, dealers and distributors of capital equipment and services. Capital equipment and related service providers have recognized the importance of offering a financing program in conjunction with the sale of products and services to their customers enabling them to spread the acquisition cost over a future time period. State and local government entities rely heavily on various "point of sale" financing techniques to acquire the necessary capital assets that provide essential governmental services to their constituents. Corporations and commercial entities use "point of sale "financing techniques to acquire capital assets that produce revenue or improve their operating efficiency.
"This point of sale financing will allow Clancy to expand into new target markets while growing current active markets. "Several interesting merger and acquisition prospects are now possible without dilution of our current positive cash position," said Stanley Wolfson, Clancy's president. "We are currently refining a variety of parking related products that we recently realized have great potential outside the parking industry and we are very excited by that," Wolfson explained.
Craig Glattley of Salem Capital Group said, "Salem and Clancy seem to be made for each other." Clancy's ongoing municipal business model fits directly into Salem's specific expertise in point of sale financing. We look forward to Clancy's continued success and future business expansion using this point of sale financing."
