Ibill Update !
 

Company Update 02/17/05
Dear Clients We would like to update you on several recent events that have occurred at iBill.

On January 21st it was announced that Interactive Brand Development (?IBD?), a publicly traded company, had acquired iBill and began committing the resources necessary to return iBill to a respectable and profitable status. For your information, IBD?s assets also include a 36.5% stake in Penthouse Media Group, significant investments in broadband TV and interactive media properties.

IBD?s decision to acquire iBill was based upon a full understanding of the issues facing iBill?s business, and we are focusing our energies and resources on achieving a turn around at iBill both through financial settlement with our clients and exploiting our innovative and secure products for current and future business.

IBD has engaged a top-tier restructuring firm to oversee the day to day operations and management of iBill in cooperation with IBD?s senior executives. As such, IBD is confident that iBill will be managed with proper corporate governance.

As part of this turn around initiative, iBill obtained an initial $2.0 million investment on December 30. Based on the plan being established in conjunction with our consultants, iBill and IBD have arranged for additional capital injections into iBill above this amount with a view of supporting and growing iBill while it continues to resolve the effects of the September 16th events.

Over the last five months there have been announcements regarding the funding of past due amounts. One of the first objectives of IBD?s management will be to address this primary concern through an organized and cohesive plan. This plan will be rolled out in the next few weeks and will supercede any previous announcements or commitments. We expect to update you on this progress no later than March 9th, 2005.

As you may be aware, Cathy Beardsley, iBill?s President, has announced that she will be leaving iBill to purse other interests. While IBD regrets Cathy?s departure we note that she chose both in the interests of iBill?s clients and employees to remain at iBill during the very difficult months of uncertainty while IBD evaluated iBill?s business. It is largely due to her efforts that IBD was able to feel comfortable in our ability to address iBill?s financial issues and complete this acquisition to the benefit of iBill?s clients. Over the next 30 days, Cathy will be working with IBD management to ensure the finalization of the First Data reserve release as well as the implementation of the Inteca trusted third party payment program for our European clients. She may also continue to work with iBill on a freelance basis going forward.

IBD recognizes that iBill?s clients have been through a difficult period caused primarily by events now rumored to be affecting others in our industry. Our experience in dealing with these same events has resulted in the implementation of the gkard debit card payment solution. This secure product has been tried and tested over the past several months to the benefit of many of iBill?s clients. As part of a new and strong organization, iBill stands ready to apply our experience and these products to existing and future clients.

Sincerely

Interactive Brand Development Inc


Is that a good news or ? ..... :helpme

same bullshit

'Round and 'round and 'round she goes, where she stops, nobody knows!

:1orglaugh :1orglaugh :1orglaugh


WTF Am I laughing : because I am MOVING FORWARD

Who gives a fuck about all that SHIT!

Wheres my fucking money. :mad: :mad: :mad: :mad:

I'd go as far as to say there's even more 'half-truths' than ever in this. Read it closely and compare their spin with the facts and you'll see what I mean.

sure let's all just wait around for another month and hope to get paid, while you continue to collect our customers monies. I don't think so fuck heads. :321GFY

Can you smellllllllllllllllllllllllll it??? :1orglaugh

I find this line very interesting. Casting doubt on the other processors in the industry is an interesting spin for sure.

:mad:

<-----Wonders How long until Webby shows up and spews his propaganda to add fuel to an already out of control fire.. :2 cents:

yes, where is money?

Only a few minutes and I'll be there!! :)

And.. my "propaganda" for the day is:

I don't give one shit about IBD, PHSL or the banking arrangements of iBill - that is the responsibility of iBill management and no other person.

The only thing that concerns clients of iBill is -

1) Where is the fucking money that is owed?

2) When, if ever, are iBill going to quit breaching their agreement with clients?



Now.. the "propaganda" bit, if it can be called that - They all need thrown in jail for various offenses and iBill liquidated immediately and passed to responsible people to clean up before banks pay any funds to them.

that's not new, really

Thanks for sharing....You always bring another way of looking at the ibill situation..for that i commend you :thumbsup

:1orglaugh

Seriously DEA - I'd be fucking ashamed to be involved in a company like that.

From the very beginning it was a saga of neglect and smart ass bullshit - ie.. they were even given notice of the First Data withdrawal, but did nothing.

There is no doubt that funds from banks were siphoned off to other areas and not paid to the actual owners of the funds. It's like dealing with a cowboy bank in Texas in the 1800's.

There is loads more stuff, (can't say here).. but where even iBill management could not even refute allegations with any evidence, although they did claimed they would and could, - but failed that test. Basically they talk shit - you could call it lies or broken promises/commitments - whatever words suit the occasion :-)

As a company - they are a disgrace. Not because they claim to have no funds - that can happen to anyone, - but the lies, deceit and bullshit are a joke.

Only my :2 cents:, - I'd prefer to see them liquidated and action for reclaiming funds diverted for other purposes. There could be, -wishful thinking, - a chance of collecting five cents on the dollar.

If the checks not in your hand then sue and get in in your hands quick before its gone.

I cant see how much longer they could possibly continue illegal billing and theft.

I had some real hopes after hearing the trustee news last week, this is quite a downer.

I've maintained in the past that they have to get someone who is a bit sharper to do their releases. There are a couple of gaffes in there in regards to Gkard and to the investment, which is actually listed as a loan on their SEC filing. Maybe there is an investment secured to the line of credit who knows.

I can understand the March 9 date as it gets into the ballpark of a 6 month duration for First Data holding their funds. I'm guessing that none of us can expect anything paid out before the First Data release.

Hoping hoping hoping.

CliffNotes version of that announcement:

"iBill is pleased to announce that we'll be announcing an upcoming announcement soon."

I'm glad they feel so happy about IBD being a publicly traded company that they pointed it out so early in that announcement announcing an upcoming announcement in a few weeks time. Too bad The AMEX doesn't feel the same way .

LOL :thumbsup

"IBD recognizes that iBill?s clients have been through a difficult period caused primarily by events now rumored to be affecting others in our industry."

Unreal. I swear I think by now the boys would have learned that if you kick sand sometimes it ends up in your own eyes.

:1orglaugh :1orglaugh

SophMaster. Soph is short for sophistry? As in master of sophistry? Very funny ...not :Oh crap

from Dictionary.com:

1. Plausible but fallacious argumentation.
2. A plausible but misleading or fallacious argument.

The definition is for the word "Sophistry".

Short version of that message:
"Please continue to be a sucker & send us signups for which we will never pay you."

mmmm .... try it this way :

SOPH : like SOPHDREAM.COM
MASTER : like WEBMASTER

BETTER THAT WAY !
:thumbsup

what an update

Oh my god.... what a bunch of worthless manure

everyone who agrees.. say "eye"

or somethign else.. anyways.. just go along.. humor me
LOL