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February 12, 2003 12:14
Clancy Systems International, Inc. Signs New Clients
DENVER--(BUSINESS WIRE)--Feb. 12, 2003--Clancy Systems International, Inc. (OTCBB:CLSI) adds new clients to its parking programs. Mountain Village, CO, has signed a contract with Clancy for a complete parking citation issuance and processing system. The city is excited to offer Clancy's Remit-online.com payment services for its citizens and visitors as a convenience.
Loudoun County, VA, has installed a complete ticket issuance program for its jurisdiction in the Leesburg and Sterling Virginia areas. The program streamlines its operations and increases the ability to generate revenues for the county.
In the past few weeks, Clancy has introduced a new program to its clients. The company is offering services to scan parking tickets for its clients with its high-speed scanning equipment. The program totally eliminates key punch processes for cities that use this service. Arlington County, VA, was the first client to take advantage of the program and other clients are eager to add this program to their services.
In an agreement between California Municipal Technologies, Inc (CMTI), a company that Clancy has had a long-term relationship with, and Clancy's retired Chairman of the Board, Robert M. Brodbeck, CMTI has acquired 26,510,000 of Brodbeck's shares. Under the terms of the purchase agreement, all SEC restrictions and rule 144 regulations apply to the transfer. In addition, Brodbeck has agreed to refrain from selling any of the remainder of his shares for a period of one year.
"In my opinion, the transfer of stock from Brodbeck to CMTI should have a positive effect on shareholder value. The pressure of the regular sales by Brodbeck over the past few years has had a negative effect on share price. CMTI's interest in Clancy is welcome and presents a positive endorsement of Clancy. We are interest in working with CMTI to further our mutual business opportunities," said Stanley Wolfson, Clancy's president.
CONTACT: Clancy Systems International, Inc. Stanley Wolfson, 303/753-0197 www.clancysystems.com