Computel was a forerunner of the Ottawa based Hi-Tech revolution and it had catapulted Warren through his first $1M net worth plateau.
Through a proposed merger in 1970 (involving heavy duty board of Director interplay) Warren became International VP of The University Computing Company, Dallas TX '69-'71. He oversaw initiating several UCC technology ventures Mexico City, Caracas Venezuela, Milan Italy and London England.
Following two years with UCC, Warren returned to Canada to stand Federally for the Conservative Party. He ran in Toronto's Rosedale Riding against Pierre Trudeau's Ontario Lieutenant, Donald McDonald ending in October '73 with an election night 300-vote loss. Bob Stanfield's Conservatives fell two seats short of forming a minority Government. Had the Election incurred even a 2% larger swing to the right, Warren's Career might well have been substantially different.
Back to work
Two years of Consulting Engineering, in partnership with Phil Lapp, President of the Engineering Society of Ontario. This included an assignment to provide Nuclear Industry guidelines for our Government’s EMR. Warren then elected to again go back to pursuing his entrepreneurial roots.
Warren's Hospitality Industry Investments - Edgerton's Restaurant, Toronto and By-Your Developments in Ottawa then led to his founding Remanco Systems in 1978.
The Peter Turk software created the first data based computer product, in partnership with CARA Operations, to process food service in the Hotel and Restaurant Industry. Remanco was a forerunner in eliminating posting Cash Registers used in Restaurant Management, still considered leading edge technology. Intel published in 1980 that Remanco was the first commercial 8086-based product, and it became the first Canadian Manufactured computer systems to gain an International Profile. Warren, continuing as Chairman of Remanco, and in 1985 relocated to Southern California perhaps the prime market for this technology, building his company Senelco Inc. Senelco quickly became Remanco's largest and most profitable dealer.
Three years later he sold the California business back to Remanco's now new owners. He remained active in several Point-of-Sale and lease financing opportunities in partnership with MFP. Prysmic worked with Aldeavision in Montreal to explore International joint venture opportunities employing Aldeavision's innovative leading edge technology.
Please accept this section as a quick primer on some of Warren's strengths and how Clients may benefit by engaging Warren in an appropriate capacity. Warren fully understands the challenges associated with running a company and realizing returns on the innovation and abilities of the companies assets. He would welcome sharing experiences and functional ideas with individuals who are looking to drive their Company.
Prior to graduating from University of Toronto in Engineering Physics in 1961 Warren attended Ridley College, St. Catharines '47 - '56. Between lectures at Varsity, or instead of lectures, he earned a Varsity First T, ran his fraternity. 'Phi Kappa Pi', was Chairman of the University Debating Union. He was also active in Model Parliament and on Hart House Boards and ended with a University Honors Award.
Following six - 100% clubs with UNIVAC Canada, Warren in 1966 bid on the tender to provide facilities for the Federal Government's Central Data Processing Service Bureau. He identified, for this tender, a huge market for remote batch processing on Univac's 1108.
The UNIVAC submission lost the contract to IBM, so, Warren elected to try and purchase an 1108 on his own capitalizing on the identified demand. Morgan Guarantee in New York expressed serious possible financing interest. However they wanted to buy the company leaving Warren as President with some equity. Alternatively we opted to come back to Canada and try and Finance Computel in Canada. By this time every one of Warren's credit cards was max'd when AE Ames organized a show and tell with some 35 potential investors.
Two hours after our presentation had ended - we had no responses. Then one $50,000 offer from Norman Short was submitted and 20 minutes later Computel was financed to the tune of $3.5 Million + dollars. We attained a TSE listing and in 1967 Computel became the first Canadian Computer Company to do a public share financing.
However the company faced a huge timing challenge. Our take-or-pay Government contracts had to be demonstrable on a very tight time schedule. The Canadian Computer investing fraternity took a huge short position on our new stock. They bet that we would seriously default on the go-live date criteria. When the criteria were met, the short sellers were put to the wall. All of a sudden Computel equity speculators became instantly wealthy, - "on paper".
Challenging the payment industry became Warren’s focus for the next 20 years. Visa and MasterCard extract $10 Billion a year from the retail industry in Canada alone. Several prominent Restaurants create more bottom line net profits for the Payment Industry than for themselves.
Peter Turk’s software team had devised a payment solution built around the Canadian Payment Association’s, Unique to Canada, interbank payment facilities. The product was rigorously tested and demonstrated. The company was sold in the UK for a significant amount to be used with two of the major International gaming entities.
When that group nose-dived, Warren agreed to purchase the residual. With this product a client could make a payment of 10 cents over the Internet using no account numbers, no passwords and no client identity information. Simple fast and 100% secure. A 1% fee would be very cost effective for our entity, profitable for all banks and the merchants. A prominent Venture capitalist observed that soliciting any Canadian Bank Partner to compete with VISA & MC’s Bank marriage might well prove to be an insurmountable challenge.
The product was ideal for Newspapers to sell digital content. I did a major presentation to our Finance Minister and to all six Bank Presidents. Everbank in St. Louis offered to fund (est. at an initial $2 B plus) a CPA equivalent service in the US. They would offer our technology thru 10-major US Banks IF our beta test satisfied the criteria.
Entrepreneurs do not know when to quit. The concept even today is worth Billions.