Breaking News - Ibill Sold

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  • Resolute
    Confirmed User
    • Feb 2003
    • 1143

    #1

    Breaking News - Ibill Sold

    InterCept Signs Letter of Intent to Sell Merchant Services Division
    Wednesday February 11, 9:15 am ET


    ATLANTA, Feb. 11 / -- InterCept, Inc. (Nasdaq: ICPT - News), a leading provider of technology products and services for financial institutions and merchants, today announced that it has entered into a letter of intent for the sale of its merchant services division, InterCept Payment Solutions (IPS). A management group from IPS led by its Chief Executive Officer, John M. Perry, will be part of the purchase group, along with a third party provider of merchant payment services for both traditional and web-based merchants. The proposed purchase price is $37.4 million, consisting of cash, a promissory note, and assumed liabilities. The sale, which is expected to close by the end of February 2004, is subject to execution of a definitive agreement and satisfaction of customary closing conditions.

    As a result of the sale of the division, InterCept will incur a non-cash charge of approximately $135 million, prior to the recognition of any associated tax benefits. InterCept expects to recognize these amounts on its financial statements for the fourth quarter and year ended December 31, 2003. End
    -------------------------------------------------------

    I think this is a good and positive thing !! Intercept didn't want to know about Ibill and it was neglected for many reasons. Now Ibill under the management of a strong team headed by John Perry can do what Ibill does best !! I am VERY Confident in this development and am sure it will benefit webmasters.. Resolute T i m.

    [email protected]
    ICQ 325624405
  • buddyjuf

    #2
    link?

    Comment

    • VideoVoyeur
      So Fucking Banned
      • Jun 2003
      • 2181

      #3
      And IF and thats and IF they would decide to NOT do processing for adult sites...


      heh... Think about that for a minute...

      Comment

      • smokingjoey69
        Registered User
        • Jan 2004
        • 5

        #4
        Anyone who considers John Perry and his Atlanta cronies a "strong team" has never met them.

        Wonder if he's going to continue his plan to drop the internet work and go "brick and mortar"? Does anyone really think a fledgling company will maintain offices in Nashville, Delaware, and Florida while Perry's home is in Atlanta?

        Comment

        • SteveLightspeed
          Confirmed User
          • Jul 2001
          • 7940

          #5
          Spoiled milk doesn't magically get better.

          If Ibill ever paid the money they owed me, I might have a higher opinion of them.

          Now that John Thorpe has left, I've pulled all our processing from them completely.

          CCbill and Epoch understand the word TRUST, Ibill doesn't.


          Steve Lightspeed
          Abra-cadabra!

          Comment

          • Romeo
            Confirmed User
            • Oct 2001
            • 1207

            #6
            I sale this sig space
            Brian C aka Romeo
            JBWebCash.com
            Brian at Jbwebcash.com

            Comment

            • Peaches
              Old broad
              • Oct 2002
              • 13933

              #7
              http://biz.yahoo.com/rc/040211/finan...tercept_1.html

              Comment

              • axelcat
                Adult Locals
                • Jun 2002
                • 25450

                #8
                Is this true?

                Comment

                • VideoVoyeur
                  So Fucking Banned
                  • Jun 2003
                  • 2181

                  #9
                  Originally posted by axelcat
                  Is this true?

                  Ya

                  Comment

                  • VideoVoyeur
                    So Fucking Banned
                    • Jun 2003
                    • 2181

                    #10
                    NEW YORK, Feb 11 (Reuters) - InterCept Inc. (NasdaqNM:ICPT - News), which offers banks electronic fund transfer and other services, on Wednesday said it entered a letter of intent to sell its InterCept Payment Solutions merchant services division to its chief executive and others for $37.4 million.
                    The Atlanta-based company said the purchase price includes cash, a promissory note and assumed liabilities. It said it expects to take a $135 million charge from the sale, prior to tax benefits, for the fourth quarter ended Dec. 31, 2003.




                    Geexus iBill was 135 Million in the hole and never told anyone?

                    Comment

                    • icedemon
                      Confirmed User
                      • Jun 2003
                      • 1022

                      #11
                      More info at
                      http://news.moneycentral.msn.com/tic...Symbol=US:ICPT
                      Clips4Sale.com

                      Comment

                      • NetRodent
                        Confirmed User
                        • Jan 2002
                        • 3985

                        #12
                        No, Intercept lost $135 million on the purchase and sale of iBill.
                        "Every normal man must be tempted, at times, to spit on his hands, hoist the black flag, and begin slitting throats."
                        --H.L. Mencken

                        Comment

                        • Sosa
                          In Tushy Land
                          • Oct 2002
                          • 40149

                          #13
                          Originally posted by VideoVoyeur
                          NEW YORK, Feb 11 (Reuters) - InterCept Inc. (NasdaqNM:ICPT - News), which offers banks electronic fund transfer and other services, on Wednesday said it entered a letter of intent to sell its InterCept Payment Solutions merchant services division to its chief executive and others for $37.4 million.
                          The Atlanta-based company said the purchase price includes cash, a promissory note and assumed liabilities. It said it expects to take a $135 million charge from the sale, prior to tax benefits, for the fourth quarter ended Dec. 31, 2003.




                          Geexus iBill was 135 Million in the hole and never told anyone?

                          OUCH

                          Comment

                          • VideoVoyeur
                            So Fucking Banned
                            • Jun 2003
                            • 2181

                            #14
                            Originally posted by NetRodent
                            No, Intercept lost $135 million on the purchase and sale of iBill.

                            And now think about that, why would anyone take a 135 Million dollar cut selling a business.


                            Something was wrong there, very wrong for them to do that...

                            Comment

                            • Rick Latona
                              The Best Ideas Start Here
                              • Dec 2002
                              • 6037

                              #15
                              If anyone knows how to get ahold of John Perry I would greatly appreciate his contact information to be emailed to me at rick AT dollars.com.
                              Regards,

                              Rick Latona
                              http://latonas.com

                              Latona's - We Sell Money Making Web Properties
                              Note to buyers of websites and traffic: please check our inventory at http://latonas.com/websites-for-sale. If you would like to make an offer on something, just let me know.

                              Comment

                              • Resolute
                                Confirmed User
                                • Feb 2003
                                • 1143

                                #16
                                Originally posted by Rick Latona
                                If anyone knows how to get ahold of John Perry I would greatly appreciate his contact information to be emailed to me at rick AT dollars.com.
                                Sure you can get him by call the main Ibill switch

                                [email protected]
                                ICQ 325624405

                                Comment

                                • Giorgio_Xo
                                  Confirmed User
                                  • Mar 2003
                                  • 4263

                                  #17
                                  Originally posted by Rick Latona
                                  If anyone knows how to get ahold of John Perry I would greatly appreciate his contact information to be emailed to me at rick AT dollars.com.
                                  CJBill?
                                  Make Levees, Not War

                                  Comment

                                  • Resolute
                                    Confirmed User
                                    • Feb 2003
                                    • 1143

                                    #18
                                    Originally posted by axelcat
                                    Is this true?
                                    Sure Is !!

                                    [email protected]
                                    ICQ 325624405

                                    Comment

                                    • Resolute
                                      Confirmed User
                                      • Feb 2003
                                      • 1143

                                      #19
                                      Scoreman posted this on another thread .... So True !!


                                      The Intercept iBill experiment looks to have finally been ended. Intercept now just needs to take a huge charge, and settle a sizable docket of lawsuits.

                                      One thing that has always been good with iBill is that they paid out reliably. We never had issues with monies that iBill collected on, including reserves, and this issue was perhaps tops on our list of what we wanted in a processor. All has not be so great though. When iBill was purchased by Intercept, real development of adult went into a complete stall. In particular they havent done anything with Revshare, they havent pushed Next Gen out, they havent expanded their incorporation of alternative billing options.

                                      What we did see with them that was good was that they spent a good amount of their energies on relationship building with the card associations, they cleaned up their portfolio and jettisoned alot of higher chargeback clients making the scrub easier on the remainder. The call center that handles customer inquiries also improved imo.

                                      We will miss the financial transparency as I doubt we will be able to see the level of disclosure as to their financial health as well as their fine status with the card associations. To this day we know what they were fined by Mastercard, but that number is unknown for CCBill/Paycom/Jettis etc.

                                      In taking their company private I would hope that the new management would learn from history as what were some of iBill's shortcomings when they were previously a privately held company. Alot of the issues that emerged when old iBill was sold to Intercept came from lack of oversight and a solid system of checks and balances. In their quest for volume, alot of times poor decisions were made (such as the Babenet fiasco). We want the guys who handle our monies to be taking a more conservative route instead of aggressive moves that can endanger the entire portfolio if improperly executed.

                                      [email protected]
                                      ICQ 325624405

                                      Comment

                                      • GonePhishing
                                        Confirmed User
                                        • Oct 2003
                                        • 2474

                                        #20
                                        Wow, that was a huge ass move mang!
                                        If Biff Fucks My Mom... I Might Never Be Born...

                                        Comment

                                        • Rictor
                                          Old Timer
                                          • Jan 2001
                                          • 12208

                                          #21
                                          Originally posted by Lightspeed
                                          Spoiled milk doesn't magically get better.

                                          If Ibill ever paid the money they owed me, I might have a higher opinion of them.

                                          Now that John Thorpe has left, I've pulled all our processing from them completely.

                                          CCbill and Epoch understand the word TRUST, Ibill doesn't.


                                          Steve Lightspeed
                                          Wow.

                                          Comment

                                          • DatingGold
                                            $6 PER EMAIL JOiN
                                            • Feb 2003
                                            • 13185

                                            #22
                                            I wouldn't think a private company would invest that much money into a company that has a large % of their portfolio in the adult business and then drop the adult portfolio.

                                            Either way any business should always have a backup plan.



                                            9 Years of SOLID payouts and conversions!



                                            ADULT DATING - $100 PPS

                                            LIVE CAMS - $214 PPS

                                            WWW.DATINGGOLD.COM

                                            ICQ: 27442303

                                            Comment

                                            • Peaches
                                              Old broad
                                              • Oct 2002
                                              • 13933

                                              #23
                                              Just thought I'd sneak in here and mention that there's a company who has been processing checks for years, does nothing but checks and you don't pay unless the check goes through.

                                              Just email me and I can get answers to any questions you have and get you set up!

                                              Comment

                                              • VideoVoyeur
                                                So Fucking Banned
                                                • Jun 2003
                                                • 2181

                                                #24
                                                Originally posted by Peaches
                                                Just thought I'd sneak in here and mention that there's a company who has been processing checks for years, does nothing but checks and you don't pay unless the check goes through.

                                                Just email me and I can get answers to any questions you have and get you set up!

                                                Let me guess is it achdebit.com ???


                                                Comment

                                                • Peaches
                                                  Old broad
                                                  • Oct 2002
                                                  • 13933

                                                  #25
                                                  Originally posted by VideoVoyeur
                                                  Let me guess is it achdebit.com ???

                                                  What gave it away?!!

                                                  Comment

                                                  • DatingGold
                                                    $6 PER EMAIL JOiN
                                                    • Feb 2003
                                                    • 13185

                                                    #26
                                                    Originally posted by Peaches
                                                    Just thought I'd sneak in here and mention that there's a company who has been processing checks for years, does nothing but checks and you don't pay unless the check goes through.

                                                    Just email me and I can get answers to any questions you have and get you set up!
                                                    thread hijacking, spam, completely unrelated
                                                    9 Years of SOLID payouts and conversions!



                                                    ADULT DATING - $100 PPS

                                                    LIVE CAMS - $214 PPS

                                                    WWW.DATINGGOLD.COM

                                                    ICQ: 27442303

                                                    Comment

                                                    • woodman
                                                      Confirmed User
                                                      • Jan 2003
                                                      • 433

                                                      #27
                                                      Originally posted by smokingjoey69
                                                      Anyone who considers John Perry and his Atlanta cronies a "strong team" has never met them.

                                                      Wonder if he's going to continue his plan to drop the internet work and go "brick and mortar"? Does anyone really think a fledgling company will maintain offices in Nashville, Delaware, and Florida while Perry's home is in Atlanta?
                                                      Spoken like a true ex-employee who was shown the door. Did it hit your ass hard on the way out?

                                                      Comment

                                                      • sexsup
                                                        Confirmed User
                                                        • Feb 2004
                                                        • 3004

                                                        #28
                                                        Originally posted by VideoVoyeur
                                                        And IF and thats and IF they would decide to NOT do processing for adult sites...
                                                        They will go out of the biz in 1 sec

                                                        Comment

                                                        • MarkIBill
                                                          Confirmed User
                                                          • Jan 2003
                                                          • 125

                                                          #29
                                                          Originally posted by Rick Latona
                                                          If anyone knows how to get ahold of John Perry I would greatly appreciate his contact information to be emailed to me at rick AT dollars.com.
                                                          Rick, just hit you on ICQ.

                                                          Comment

                                                          • scoreman
                                                            Confirmed User
                                                            • Nov 2001
                                                            • 1491

                                                            #30
                                                            Originally posted by VideoVoyeur
                                                            Geexus iBill was 135 Million in the hole and never told anyone?
                                                            I hope you are better at running your sites than analyzing press releases.

                                                            Comment

                                                            • Peaches
                                                              Old broad
                                                              • Oct 2002
                                                              • 13933

                                                              #31
                                                              Originally posted by DatingGold


                                                              thread hijacking, spam, completely unrelated
                                                              Yeah, how silly of me - people processing their checks through Ibill and want to leave surely wouldn't be looking for another processor...........

                                                              Comment

                                                              • scoreman
                                                                Confirmed User
                                                                • Nov 2001
                                                                • 1491

                                                                #32
                                                                Originally posted by VideoVoyeur
                                                                And IF and thats and IF they would decide to NOT do processing for adult sites...


                                                                heh... Think about that for a minute...
                                                                This one is even better than the last.

                                                                Ok the minute is up, and I see new investors coming into to buy iBill and why.....? Oh yeah they plan to kick the business making up 90% of their profit to the curb. LOL . Riiigggght.

                                                                Like I said before I hope you are a better webmaster than these gems you threw out are showing.

                                                                Comment

                                                                • DatingGold
                                                                  $6 PER EMAIL JOiN
                                                                  • Feb 2003
                                                                  • 13185

                                                                  #33
                                                                  Originally posted by Peaches

                                                                  Yeah, how silly of me - people processing their checks through Ibill and want to leave surely wouldn't be looking for another processor...........
                                                                  was a joke.. everyone knows wts is good
                                                                  9 Years of SOLID payouts and conversions!



                                                                  ADULT DATING - $100 PPS

                                                                  LIVE CAMS - $214 PPS

                                                                  WWW.DATINGGOLD.COM

                                                                  ICQ: 27442303

                                                                  Comment

                                                                  • Peaches
                                                                    Old broad
                                                                    • Oct 2002
                                                                    • 13933

                                                                    #34
                                                                    Originally posted by DatingGold
                                                                    was a joke.. everyone knows wts is good
                                                                    Whew!

                                                                    OK, then I will still love you.

                                                                    Comment

                                                                    • Rich
                                                                      So Fucking Banned
                                                                      • Jan 2003
                                                                      • 11486

                                                                      #35
                                                                      Hopefully the new owners will have a clue about customer support.

                                                                      Comment

                                                                      • dirtysouth
                                                                        Confirmed User
                                                                        • Jul 2003
                                                                        • 2613

                                                                        #36
                                                                        Originally posted by Giorgio_Xo


                                                                        CJBill?
                                                                        Domain: CJBILL.COM
                                                                        Purchase Confirmation: Thank you for shopping with us.

                                                                        no sig

                                                                        Comment

                                                                        • Ray@TastyDollars
                                                                          • May 2002
                                                                          • 6797

                                                                          #37
                                                                          Does anyone think this will affect their UK division(Ibill Eu)?

                                                                          Scoreman, I would really like to hear your opinion on this.

                                                                          thx,
                                                                          Ray

                                                                          Comment

                                                                          • juicylinks
                                                                            So Fucking Banned
                                                                            • Apr 2001
                                                                            • 122992

                                                                            #38
                                                                            I had sex with Ibill

                                                                            Comment

                                                                            • goBigtime
                                                                              Confirmed User
                                                                              • Nov 2002
                                                                              • 7761

                                                                              #39
                                                                              Hmmmm interesting.


                                                                              Does the "Intercept Payment Solutions Merchant Services Division" consist of the portion that is Ibill? or the portion that is not Ibill? Anyone call for clarification?

                                                                              It's curious why the "Ceo and others" want to spend ~$40mil of their own money to buy that portion of the company from shareholders.

                                                                              ICPT got screwed when they bought Ibill -- Visa regulations were right around the corner & that took a huge chunk out of the value of the deal. Maybe it was already known, disclosed & calculated into the deal -- but I doubt it.

                                                                              So my question is what is about to happen to the 'Payment solutions merchant services divsion' (and all the other divisions that stockholders will be left holding).... if anything?

                                                                              Alot of people talk about crazy things set to happen in March regarding CC processing.... well this is very indicative of *something* being up.

                                                                              Comment

                                                                              • goBigtime
                                                                                Confirmed User
                                                                                • Nov 2002
                                                                                • 7761

                                                                                #40
                                                                                InterCept said the purchase group includes Chief Executive John Perry, other management, and a third-party merchant payment services provider.
                                                                                Oh shit... I see what happend

                                                                                Comment

                                                                                • johnny1
                                                                                  Confirmed User
                                                                                  • Jun 2002
                                                                                  • 872

                                                                                  #41
                                                                                  Originally posted by scoreman


                                                                                  This one is even better than the last.

                                                                                  Ok the minute is up, and I see new investors coming into to buy iBill and why.....? Oh yeah they plan to kick the business making up 90% of their profit to the curb. LOL . Riiigggght.

                                                                                  Like I said before I hope you are a better webmaster than these gems you threw out are showing.
                                                                                  I Totaly agree!!
                                                                                  ---------------
                                                                                  ICQ163686688

                                                                                  Comment

                                                                                  • Doctor Dre
                                                                                    Too lazy to set a custom title
                                                                                    • Jan 2001
                                                                                    • 51692

                                                                                    #42
                                                                                    It can only get better !
                                                                                    Originally posted by rayadp05
                                                                                    I rebooted, deleted temp files, history, cookies and everything...still cannot view the news clip. All I see is that fucking gay ass music video from "Rick Roll". Anyone else have a different link to the news clip?

                                                                                    Comment

                                                                                    • smokingjoey69
                                                                                      Registered User
                                                                                      • Jan 2004
                                                                                      • 5

                                                                                      #43
                                                                                      Originally posted by woodman
                                                                                      Spoken like a true ex-employee who was shown the door. Did it hit your ass hard on the way out?
                                                                                      Yes, I am an ex-employee, fairly high up the ladder and lots of contact with your apparent hero, John Perry.

                                                                                      And no, I never wait long enough to let a door hit me in the ass, cause I move too fast! Landed a great job in less than a week paying a lot more for a very stable company.

                                                                                      Perry plans to drop adult. Good luck with your next processor. smartass.

                                                                                      Comment

                                                                                      • Sausage
                                                                                        Confirmed User
                                                                                        • Oct 2002
                                                                                        • 3012

                                                                                        #44
                                                                                        Originally posted by smokingjoey69

                                                                                        Perry plans to drop adult. Good luck with your next processor. smartass.
                                                                                        ?!
                                                                                        IW
                                                                                        Skype : blance8888
                                                                                        Icq : 15567120

                                                                                        Comment

                                                                                        • tony299
                                                                                          lurker
                                                                                          • Aug 2002
                                                                                          • 57021

                                                                                          #45
                                                                                          Originally posted by smokingjoey69
                                                                                          Yes, I am an ex-employee, fairly high up the ladder and lots of contact with your apparent hero, John Perry.

                                                                                          And no, I never wait long enough to let a door hit me in the ass, cause I move too fast! Landed a great job in less than a week paying a lot more for a very stable company.

                                                                                          Perry plans to drop adult. Good luck with your next processor. smartass.
                                                                                          How come you just show up now? If you have been in the industry for a while. The only real business for third party billers is adult, getting a merchant account for nonadult was a piece of cake.

                                                                                          Comment

                                                                                          • McVisa
                                                                                            Registered User
                                                                                            • Feb 2003
                                                                                            • 38

                                                                                            #46
                                                                                            More on this:

                                                                                            http://www.pimpcafe.com/article2/art...p?article=1656

                                                                                            Comment

                                                                                            • Paul Dinin
                                                                                              Confirmed User
                                                                                              • Feb 2004
                                                                                              • 169

                                                                                              #47
                                                                                              Originally posted by dirtysouth


                                                                                              Domain: CJBILL.COM
                                                                                              Purchase Confirmation: Thank you for shopping with us.

                                                                                              You sneaky fucker.

                                                                                              Comment

                                                                                              • Cogitator
                                                                                                Confirmed User
                                                                                                • Feb 2002
                                                                                                • 672

                                                                                                #48
                                                                                                i used to work for iBill as well. You're correct in that iBill basically existed because it processed for porn. If you're non-adult, there are any number of processors that'll take 2-3% instead of 10-15% of your money. I don't get why someone would want iBill just to process normal stuff. Very low margin at this point. Of course, just because John Perry wants to buy it now isn't any real indicator of success. He's the one that made Intercept buy them before and they're taking a 135 million dollar charge. His timing has kind of sucked in the past :-)
                                                                                                Last edited by Cogitator; 02-11-2004, 07:16 PM.
                                                                                                - this space intentionally left blank -

                                                                                                Comment

                                                                                                • Ozzymosis1
                                                                                                  Confirmed User
                                                                                                  • Sep 2003
                                                                                                  • 2094

                                                                                                  #49
                                                                                                  Originally posted by Lightspeed
                                                                                                  Spoiled milk doesn't magically get better.

                                                                                                  If Ibill ever paid the money they owed me, I might have a higher opinion of them.

                                                                                                  Now that John Thorpe has left, I've pulled all our processing from them completely.

                                                                                                  CCbill and Epoch understand the word TRUST, Ibill doesn't.


                                                                                                  Steve Lightspeed

                                                                                                  Fuck IBill.

                                                                                                  They have owed me a pretty large sum of money for a long time know...
                                                                                                  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, then you may use a 624x80 instead of a 120x60.

                                                                                                  Comment

                                                                                                  • jimmyf
                                                                                                    OU812
                                                                                                    • Feb 2001
                                                                                                    • 12651

                                                                                                    #50
                                                                                                    ibill will not be around much longer, 7 months, a year.
                                                                                                    Epic CashEpic Cash works for me
                                                                                                    Solar Cash Paysite Plugin
                                                                                                    Gallery of the day freesites,POTD,Gallery generator with free hosting

                                                                                                    Comment

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