Ibill New CMI statement... :(

Eddie · 12-23-2004

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.

SOOOOO no money this Xmas...

Dravyk · 12-23-2004

Just got the iBill Christmas Card. Should have been a clue there, huh?

Nickatilynx · 12-23-2004

Looks like the rumours that the Ven Cap guys walked out is true then

Lee · 12-23-2004

Quote:

Originally posted by Dravyk@Dec 23 2004, 02:06 PM
Just got the iBill Christmas Card. Should have been a clue there, huh?

Hahahaha.

Good one Harry

SykkBoy · 12-23-2004

for the sake of this industry, I hope they can poull a turnaround, but I'm pessemistic....

Rolo · 12-24-2004

Well - no surprise here, but atleast they saying more than "check back later"...

12-23-2004	#1
Eddie Members Join Date: Dec 2004 Location: Cincinnati OH Posts: 114	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. SOOOOO no money this Xmas... __________________ Get Real...Get Paid

12-23-2004	#2
Dravyk Easy Like Sunday Morning Want to see your own Advertising Here! Join Date: Oct 2002 Location: Behind a couch, somewhere in Philly Posts: 7,628	Just got the iBill Christmas Card. Should have been a clue there, huh? __________________ All Of 'Em Mainstream Webmasters New: WebmasterConventions.com

12-23-2004	#5
SykkBoy Polishing the Chrome on Bishops Motorcycle $100 for every ImLive sign-up Join Date: Oct 2002 Location: Hell: Bowels : Level 9 Posts: 4,153	for the sake of this industry, I hope they can poull a turnaround, but I'm pessemistic.... __________________ ADULT PAYMASTER - All Site Access - Paying $70 October 5th! "Love your enemies...just in case your friends turn out to be bastards." - unknown

12-24-2004	#6
Rolo Members Join Date: Dec 2002 Location: Six Feet Under Posts: 2,150	Well - no surprise here, but atleast they saying more than "check back later"... __________________ "Chaos is the law of nature, order is the dream of man." ~Henry B. Adams (Historian) 1838-1918

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12-23-2004	#3
Nickatilynx Banned Want to see your own Advertising Here! Join Date: Oct 2002 Location: Vancouver Canada Posts: 15,115	Looks like the rumours that the Ven Cap guys walked out is true then