IBill Acquisition Falls Through - GoFuckYourself.com

Drake · 12-09-2004, 09:40 PM

Sorry if already posted, I didn't see it anywhere in a search I did on ***************. What does this mean for the future of Ibill?

DEERFIELD BEACH, Fla. ? Media holding company Interactive Brand Development Inc., formerly known as Care Concepts, has called off its acquisition of beleaguered third-party billing company iBill, according to company filings obtained by XBiz.
According to a proxy statement dated Dec. 3, 2004, the company made a mutual agreement with PHSL, the corporation that owns iBill, to withdraw from the binding letter of intent signed earlier this year because of a possible conflict of interest that may have arisen regarding one of Interactive?s proposed acquisitions.

The possible conflict of interest stems from Interactive?s contemplated acquisition of a company called XTV Investments LLC, created by David Koenig of Holio.net and ?owned by entities and persons affiliated or associated with the Molina Vector Investment Trust, the principal stockholder of PHSL,? according to the filing.

XTV markets a brand of set-top devices that offer adult-oriented pay-per-view, video-on-demand and subscriptions services. The company also owns 100 percent equity in a company called Nexcend Marketing, which operates an online debit card called ?Gkard,? and also markets a variety of other consumer products and services online.

?Because certain of the XTV-related business activities may be perceived as similar to, or compete with, clients of iBill that utilize the iBill transaction processing system, the board of directors of PHSL determined that it would not be in the best interests of either PHSL or its iBill subsidiary to sell the iBill business to our company given our proposed ownership of XTV,? the company said in its filing.

However, during a call to Gkard customer service on Thursday, XBiz was told that Gkard and iBill were the same company.

?When you see Gkard on the bill, it really means iBill,? said the customer service agent, who finished the call by saying, ?Thank you for calling iBill. Have a good day.?

Calls to Interactive?s spokespeople were not returned by deadline.

Also mentioned in the filing were possible reasons for the threatened de-listing of Interactive common stock that occurred in September.

?The American Stock Exchange objected to the closing of the iBill transaction and cited, among other factors, concerns that iBill may be inadvertently engaging in transactions with web merchants that offer pornographic materials on the Internet in violation of federal and state laws,? said Interactive.

According to press releases filed with the SEC, though, the American Stock Exchange felt that the company did not comply with several listing standards ? not fully furnishing information requested by the exchange related to the iBill acquisition; the acquisition raised public interest concerns; the company had issued or authorized the issue of additional shares of stock with AMEX approval; the company had issued 20 percent or more of its currently outstanding shares of common stock without obtaining shareholder approval; the company?s 8-KA statement regarding the amount of stock issued to Penthouse in the iBill acquisition contained material omissions and inconsistencies; and Interactive was involved in an acquisition that would essentially mean that Interactive would have been acquired by another company because of the amount of stock it issued.

Possible violations of federal and state laws related to online adult businesses were not listed.

Interactive was scheduled to purchase iBill before the end of January 2005.

lacorporacione · 12-09-2004, 10:04 PM

Gee....Wonder why ;)

Veterans Day · 12-09-2004, 10:08 PM

Quote:

Originally posted by lacorporacione
Gee....Wonder why ;)

OH the Irony

Drake · 12-09-2004, 11:31 PM

Even if Ibill CC processing dissolves, do you think they'll continue to do 1-900 billing and maybe focus on that in addition to their new ventures (Gkard etc)?

I'm not sure, but I don't think the events have effected their 1-900 payments as of yet.

MattO · 12-09-2004, 11:34 PM

Gkard is taking off regarless of this mess

Zprogramz · 12-10-2004, 12:12 AM

Quote:

Originally posted by MattO
Gkard is taking off regarless of this mess

What is Gkard? Is it a prepaid Visa or something like Epassporte?

Z

quiet · 12-10-2004, 12:14 AM

do you have a link to this story?

KittyLix · 12-10-2004, 12:22 AM

It's on the front page of XBiz.

KittyLix · 12-10-2004, 12:30 AM

Quote:

Originally posted by Veterans Day
OH the Irony

No shit. I went to check my RevShare stats after hearing earlier today that people were actually getting there money and this is what I found...

RevShare News

--------------------------------------------------------------------------------
RevShare Payout 12/08/04
Please be advised that we are currently experiencing a slight delay with the RevShare payout for check date 12/08/04. However, this payout is still on track to be processed and paid.

Another update regarding the RevShare payout will be posted by Friday December 10, 2004.

Looks like I'm still fucked!

NaughtyRob · 12-10-2004, 12:31 AM

I am just glad we dont use them.

UniversalPass Pete · 12-10-2004, 12:46 AM

BIGTYMER · 12-10-2004, 01:25 AM

Hmm..

born · 12-10-2004, 08:08 AM

This sucks about IBill.. They have treated us very well over the past couple of years......

Quote:

Even if Ibill CC processing dissolves, do you think they'll continue to do 1-900 billing and maybe focus on that in addition to their new ventures (Gkard etc)?

Mike33 check out http://www.gxbill.com They have a solid 900 drop charge solution... Including GEO tracking for your international traffic so you don't waste no traffic... You will get more calls and more $$$ with GXbill :D!

B-

dcortez · 12-13-2004, 09:16 PM

Quote:

Originally posted by born
Mike33 check out http://www.gxbill.com They have a solid 900 drop charge solution... Including GEO tracking for your international traffic so you don't waste no traffic... You will get more calls and more $$$ with GXbill :D!

B-

Hi, are you GXbill or do you use them?

Thanks,
-Dino

SmokeyTheBear · 12-13-2004, 09:54 PM

"during a call to Gkard customer service on Thursday, XBiz was told that Gkard and iBill were the same company.

?When you see Gkard on the bill, it really means iBill,? said the customer service agent, who finished the call by saying, ?Thank you for calling iBill. Have a good day.? "

heh

12-09-2004, 09:40 PM	#1
Drake Hello world! Industry Role: Join Date: Mar 2003 Posts: 12,508	IBill Acquisition Falls Through Sorry if already posted, I didn't see it anywhere in a search I did on ***************. What does this mean for the future of Ibill? DEERFIELD BEACH, Fla. ? Media holding company Interactive Brand Development Inc., formerly known as Care Concepts, has called off its acquisition of beleaguered third-party billing company iBill, according to company filings obtained by XBiz. According to a proxy statement dated Dec. 3, 2004, the company made a mutual agreement with PHSL, the corporation that owns iBill, to withdraw from the binding letter of intent signed earlier this year because of a possible conflict of interest that may have arisen regarding one of Interactive?s proposed acquisitions. The possible conflict of interest stems from Interactive?s contemplated acquisition of a company called XTV Investments LLC, created by David Koenig of Holio.net and ?owned by entities and persons affiliated or associated with the Molina Vector Investment Trust, the principal stockholder of PHSL,? according to the filing. XTV markets a brand of set-top devices that offer adult-oriented pay-per-view, video-on-demand and subscriptions services. The company also owns 100 percent equity in a company called Nexcend Marketing, which operates an online debit card called ?Gkard,? and also markets a variety of other consumer products and services online. ?Because certain of the XTV-related business activities may be perceived as similar to, or compete with, clients of iBill that utilize the iBill transaction processing system, the board of directors of PHSL determined that it would not be in the best interests of either PHSL or its iBill subsidiary to sell the iBill business to our company given our proposed ownership of XTV,? the company said in its filing. However, during a call to Gkard customer service on Thursday, XBiz was told that Gkard and iBill were the same company. ?When you see Gkard on the bill, it really means iBill,? said the customer service agent, who finished the call by saying, ?Thank you for calling iBill. Have a good day.? Calls to Interactive?s spokespeople were not returned by deadline. Also mentioned in the filing were possible reasons for the threatened de-listing of Interactive common stock that occurred in September. ?The American Stock Exchange objected to the closing of the iBill transaction and cited, among other factors, concerns that iBill may be inadvertently engaging in transactions with web merchants that offer pornographic materials on the Internet in violation of federal and state laws,? said Interactive. According to press releases filed with the SEC, though, the American Stock Exchange felt that the company did not comply with several listing standards ? not fully furnishing information requested by the exchange related to the iBill acquisition; the acquisition raised public interest concerns; the company had issued or authorized the issue of additional shares of stock with AMEX approval; the company had issued 20 percent or more of its currently outstanding shares of common stock without obtaining shareholder approval; the company?s 8-KA statement regarding the amount of stock issued to Penthouse in the iBill acquisition contained material omissions and inconsistencies; and Interactive was involved in an acquisition that would essentially mean that Interactive would have been acquired by another company because of the amount of stock it issued. Possible violations of federal and state laws related to online adult businesses were not listed. Interactive was scheduled to purchase iBill before the end of January 2005.

12-09-2004, 10:04 PM	#2
lacorporacione Confirmed User Join Date: May 2004 Location: Australia Posts: 252	Gee....Wonder why ;) __________________ SIG TOO BIG! Maximum 120x60 button and no more than 3 text lines of DEFAULT SIZE and COLOR. Unless your sig is for a GFY top banner sponsor, you may use a 624x80 instead of a 120x60. Let me repeat... A 120 x 60 button and no more that 3 lines of DEFAULT SIZE AND COLOR text.

12-10-2004, 12:14 AM	#7
quiet we'll miss you our friend. RIP Industry Role: Join Date: Sep 2001 Location: Fernie, BC Posts: 25,115	do you have a link to this story? __________________ we'll miss you our friend. RIP

12-10-2004, 12:22 AM	#8
KittyLix Confirmed User Join Date: Apr 2004 Location: Las Vegas Posts: 2,036	It's on the front page of XBiz. __________________

12-10-2004, 12:31 AM	#10
NaughtyRob Two fresh affiliate progs Industry Role: Join Date: Nov 2004 Location: Inside teen pussy Posts: 29,602	I am just glad we dont use them. __________________ [email protected] Skype: 17026955414 Vacares Web Hosting - Protect Your Ass with Included Daily Backups

12-09-2004, 11:31 PM	#4
Drake Hello world! Industry Role: Join Date: Mar 2003 Posts: 12,508	Even if Ibill CC processing dissolves, do you think they'll continue to do 1-900 billing and maybe focus on that in addition to their new ventures (Gkard etc)? I'm not sure, but I don't think the events have effected their 1-900 payments as of yet.

12-09-2004, 11:34 PM	#5
MattO The O is for Oohhh Join Date: Feb 2003 Location: AUSTIN TEJAS Posts: 10,861	Gkard is taking off regarless of this mess

12-10-2004, 12:46 AM	#11
UniversalPass Pete Confirmed User Join Date: Dec 2004 Location: Los Angeles, CA http://www.universalpass.com Posts: 7,368	__________________ V4.0 It's Here! NOT JUST AVS ANYMORE! Teen Whore Fetish All Milf Sluts Real Asian Cunts All Latina Cunts Massive XXX Boobs All Out Anal Since 1997. ICQ: 107746038

12-10-2004, 01:25 AM	#12
BIGTYMER Junior Achiever Industry Role: Join Date: Nov 2004 Location: Walled Garden Posts: 17,066	Hmm..

12-13-2004, 09:54 PM	#15
SmokeyTheBear ►SouthOfHeaven Join Date: Jun 2004 Location: PlanetEarth MyBoardRank: GerbilMaster My-Penis-Size: extralarge MyWeapon: Computer Posts: 28,609	"during a call to Gkard customer service on Thursday, XBiz was told that Gkard and iBill were the same company. ?When you see Gkard on the bill, it really means iBill,? said the customer service agent, who finished the call by saying, ?Thank you for calling iBill. Have a good day.? " heh __________________ hatisblack at yahoo.com