Lender: "iBill Defaulted On Its Loan!" iBill: "What You Talkin 'Bout Willis?"

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  • BoyAlley
    So Fucking Gay
    • Nov 2004
    • 19714
    #1

    Lender: "iBill Defaulted On Its Loan!" iBill: "What You Talkin 'Bout Willis?"

    Ok, this is funny shit:

    DEERFIELD BEACH, Fla. ? IBill parent company Interactive Brand Development has received notice from a lender that it has defaulted on a $3.8 million loan, the company said in a filing with the Securities and Exchange Commission.

    IBD President Gary Spaniak refused to comment on the matter to XBIZ late Thursday; however, the company, in the SEC filing, said it believes that the lender breached its deal.
    http://xbiz.com/news_piece.php?id=14772
    Tags: None
    • BoyAlley
      So Fucking Gay
      • Nov 2004
      • 19714
      #2

        Comment

        • SilentKnight
          Megan Fox's fluffer
          • Oct 2005
          • 24812
          #3
          "If the outstanding amounts are not immediately paid in full, the filing said, the lender intends to dispose of all collateral owned by IBD, including accounts receivable, processor reserves, inventory, equipment, property and other collateral of iBill and its XTV Investments fund."


          I guess they better get in line. It starts at ibull's front door...and extends around the globe.

            Comment

            • WiredGuy
              Pounding Googlebot
              • Aug 2002
              • 34515
              #4
              Why in the world would anyone lend iBill money
              WG
              I play with Google.

                Comment

                • Altheon
                  Confirmed User
                  • May 2004
                  • 506
                  #5
                  Not really surprising. The only thing a billing company has is trust and they lost that a long time ago. The only good thing is that a lot of us got a tax write-off for bad debts.

                  -A

                    Comment

                    • Webby
                      Too lazy to set a custom title
                      • Oct 2002
                      • 14956
                      #6
                      IBD President Gary Spaniak refused to comment on the matter...
                      That makes a change from listening to lies, "forward looking statements" and bullshit.


                      And this is a loose use of words...

                      Two months ago, iBill agreed to outsource its online payment processing to Etelegate.com, an unrelated third-party processor that converts credit cards, checks, Web 900 and dialer transactions.
                      Etelegate.com is not any legal entity - it's a $10 domain name. The actual company Etelegate Limited is a UK entity which has already been dissolved.
                      Last edited by Webby; 05-05-2006, 11:03 AM.
                      XXX TLD's - Another mosquito to swat.

                        Comment

                        • John69
                          Confirmed User
                          • Sep 2005
                          • 942
                          #7
                          ibill blows
                          DARKSOUL: thanks but no thanks, your over priced.

                            Comment

                            • DebsDeep
                              Confirmed User
                              • Feb 2003
                              • 2649
                              #8
                              it never ends
                              http://www.gothamscreenprinting.com
                              Cheapest T's Online. $5 tshirts printed, no minimums, no fees of anykind!!!!

                                Comment

                                • Booger
                                  At least I make a living at this
                                  • Jan 2005
                                  • 621
                                  #9
                                  Originally posted by Webby
                                  That makes a change from listening to lies, "forward looking statements" and bullshit.


                                  And this is a loose use of words...



                                  Etelegate.com is not any legal entity - it's a $10 domain name. The actual company Etelegate Limited is a UK entity which has already been dissolved.
                                  Call the phone number on etelegates website it goes to ibill sales department

                                    Comment

                                    • detoxed
                                      vip member
                                      • Jan 2003
                                      • 17798
                                      #10
                                      WTF? can this not be construed as something like massive fraud? All the lies and BS? Someone get a search warrant, call the FBI or some shit

                                      the etelegate smokescreen?

                                        Comment

                                        • John69
                                          Confirmed User
                                          • Sep 2005
                                          • 942
                                          #11
                                          Originally posted by detoxed
                                          WTF? can this not be construed as something like massive fraud? All the lies and BS? Someone get a search warrant, call the FBI or some shit

                                          the etelegate smokescreen?

                                          a poor smokescreen at that!
                                          DARKSOUL: thanks but no thanks, your over priced.

                                            Comment

                                            • Webby
                                              Too lazy to set a custom title
                                              • Oct 2002
                                              • 14956
                                              #12
                                              Originally posted by Booger
                                              Call the phone number on etelegates website it goes to ibill sales department
                                              Exactly!

                                              The other factor is - "whoever" is also using the name of a dissolved UK company, Etelegate Limited, as a contact on the etelegate website (the address, 29 Harley Street, London, on the website is a maildrop).

                                              No filings have been received by the UK companies registrar since the company formation and this company has already been dissolved at Companies House in the UK. (BTW... it is an offense to purport to operate or trade using a company name which does not exist or has been dissolved)

                                              Give em more rope!
                                              XXX TLD's - Another mosquito to swat.

                                                Comment

                                                • Paul Markham
                                                  Too old to care
                                                  • Jun 2001
                                                  • 52942
                                                  #13
                                                  You know what I find amazing about this whole saga. It's that they still have the license to do business with the CC companies.

                                                  We are pinned to 1% CB but the processors get away with fraud.



                                                  Blowout deal. 880 videos, 2,400 image sets, plus many RAW videos. $500.
                                                  PM me for a deal. Skype Paulmarkham70

                                                    Comment

                                                    • SilentKnight
                                                      Megan Fox's fluffer
                                                      • Oct 2005
                                                      • 24812
                                                      #14
                                                      Originally posted by Paul Markham
                                                      You know what I find amazing about this whole saga. It's that they still have the license to do business with the CC companies.
                                                      I've wondered about that too for quite some time. Its mind-boggling to think that a company such as iBill that has badly ripped off so many others - is still allowed to process for visa and MC. I think that also speaks about the ethics of the major CC companies as well. They don't appear to give a rat's ass about the ongoing fraud and scam - as long as the billing continues. No one can convince me that the higher-ups at visa and MC aren't aware of the situation with iBill and unpaid webmasters.

                                                        Comment

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