iBill Update:
The purpose of this communication is to provide an overview of iBill?s current status.
In light of the financial situation due to issues with our previous processor, difficulties have been encountered recently in regards to payouts and promissory notes. We understand the uncertainty these difficulties present to our clients. This was not our intention and we want to inform our clients that we ARE moving forward. iBill has been processing for over nine years and we continue to be committed to the industry. All decisions made are to ensure the long-term viability of iBill and allow for clients to be paid on all monies owed.
We understand that we have made commitments which have been unfortunately delayed. We are currently working to secure capital which will assist in bringing payouts back on schedule. In addition, progress is being made in negotiations with our previous processor for the release of funds. These funds will be directly paid out to our clients.
Please bear with us as we work through these issues. Be assured that we will be back on schedule shortly and these issues will be behind us in the near future. Please continue to check CMI for further updates as they become available.
WTF
