Originally Posted by precise

Ibill situation is not a situation of a business in distress, but rather of a crime in progress.
Galanis and gang never had any intentions of repaying the debts (which was part of the deal when they got Ibill for peanuts in cash) and saving the company.
They just use the shell of what once was a leading adult processor - Ibill, same as they use Penthouse, to con more naive investors/share holders into a bigger trap. And so on.