Doesn't the "every intention to pay" bit , sound like a phrase a lawyer would advise inserting so that they can claim that as they had "every intention to pay" there eventual failure to pay will be treated as a civil matter rather then a criminal matter?

Intent is nine-tenths of the law.

... but it fools nobody.

I have "every intention" of not fucking with them, if they do not pay :awinky:

Speaking of fucking with them when they do not pay....

Ibill has given us 3 checks, in 6 months. Usually we recieved 3 checks in one month. That means 5 solid months without paying their clients, while charging our members the full fees for membership/site access to the site that WE work to produce.

At what point do we decide that their intention, whicl admirable, is bullshit - and sue their lame asses?

WHen does the big lawsuit start? After they have taken the money for our work for a year? 9 months? When?

Ibill can FUCK OFF.

why not have people cancel and re-signup under a new processor.

You will loose a bunch of clients? Sure.... More than they money you are GIVING to ibill who is thoroughly screwing you?

Smaller cheques every week might be better than getting the screw-job from ibill for who knows how long.

Once you ditch them you can move forward...

Civil Lawsuits?

Naw I think one after another people should make formal complaints to law enforcement.

If I am not paid in full , I shall.

This is beyond a normal insolvency this reeks of bad things.


The latest on CMI....

Payout Update 02/09/05
EU Payout Update
We are currently in the final stages of working with our EU processor to receive pending EU funds. As soon as the funds are received it is our intention to pay our EU clients. Please be assured that the funds are secure and are currently being held by our EU processor.

We anticipate that more detailed information will be available next week and at that time a more formal communication will be provided. Please check the CMI for an update by Wednesday, February 16, 2005.

US, RevShare and Catalog Payout Update
Currently we are not in a position to provide a date on outstanding US, RevShare and Catalog Payouts. As soon as we have more information an update will be provided. Please be assured we have every intention of paying our clients.

US Payout Check Date 12/15/04
Please be advised that the US payout for check date 12/15/04 was processed and paid on January 11, 2005.

The statement for this check date is currently visible in CMI. US Clients can go to the Accounting section of CMI and select check date 12/15/04 to view the details of this payout.

The 01/01/05 US payout and Catalog transactions will be funded in January. An update on payout dates will be provided on January 18, 2005. Thank you again for your continued support. We look forward to resuming a reliable payout schedule with you and earning your business. We will continue to update you as we move forward.

Damn.. how long has this been going on? I seem to remember they held back a shitload of money a couple years ago for phone payments too correct?

I used to get wires every week.

I have had 3 I think since the begining of Sept.

But the members have been recurring etc.

So somewhere there is funds accumulating.

publically traded companies are held to different and higher legal, accounting, ethical and reporting standards. it would seem that people could easily put significant pressure on them by going through the proper channels or by simply asking the right questions with the right people. its not like we are talking about some unknown and benign company like "Grandma's Homemade and Hand Embroidered Quilts". It's primarily a porn processing company, publically traded, with a what can only be described as a dubious history, that is consistently defaulting on its financial obligations to those who trust them with their money.

anyone that thinks they are not going to collapse, or that it is not enevitable, has not been paying attention.

JMHO

What was ironic is that they flew a couple of people up here to meet with me and SEG , I believe , amongst others , to basically see if we would process with them solely.This must be 18 mths ago now.

I took them for dinner , got drunk as a fart , and kept asking them "will you personally guarantee that I'll get paid" , they wouldn't , I paid the bill gave them $100 for a taxi back to there hotel and left.

It seemed even there reps had doubts.

Perhaps not the most gracious behaviour , but in the end very fortunate.

Wheres Tony404 to tell us what flavor of Kool Aid is being served today?

Cybersocket sued iBill for $10,000 and got a check - settled out of court in case you guys didn't see that in the news today.

Cybersocket's case was in regards to unpaid advertising, not credit card processed sales.

IBill's apparently also given out some 15 million of preferred notes with security liens to Marc Bells group, so I'd say at this point you can all kiss your money goodbye...

Suing them isn't going to get you anywhere, especially if they file bankruptcy.

If you're actually allowing them to do rebills for you, my suggestion is to cancel all the members, refund them as much money as you can and try to get them to sign up with your new processor.

Not like you're going to see anything they collect anyway.

Well golly-gee, KK and I have the same view! I feel validated ;)

Well golly-gee, KK and I have the same view! I feel validated ;) [/b][/quote]
Don't look back, there could be 4 horsemen coming over the hill ;)

Don't look back, there could be 4 horsemen coming over the hill ;) [/b][/quote]
Dont be so surprised, you're usually pretty insightfull and great minds do think alike

:agrin:

;)

I just had this weird vision. It was a couple guys out on a nice yacht in the middle of the carribean somewhere each having a glass of chablis whilst laughing their asses off. :matey:

Latest.....


Payout Update 02/11/05
EU Payout Update
We have reached an agreement in principle with a third party trust on the release of our EU funds currently being held. The third party trust will ensure all client funds, both in arrears and future, are managed and paid from a segregated account. Early next week we will be in a position to formally announce the plan, the process to release past due funds, and outline the payment schedule on a go forward basis.

Again, we thank you for your patience. You can be assured that with our new entrusted third party payment program, all payments will be made on time on a go forward basis.

US, RevShare and Catalog Payout Update
Currently we are not in a position to provide a date on outstanding US, RevShare and Catalog Payouts. As soon as we have more information an update will be provided. Please be assured we have every intention of paying our clients