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Originally Posted by Scottybunky
Read this... it gives you a little background on history of the owners of the new Penthouse that now owns Ibill. Jason was one the ones speaking to you in the November Ibill Confrence Call where they said payments were on sqeudule and that we would start receiving our first payment in December for monies owed.
http://xbiz.com/news_piece.php?id=25...n ternational |
The most important part of that article is this.
Anyone who stuck with Ibill after that date only needs to look in the mirror to see who to blame.
Fist Data got out probably as soon as they could, Visa/MC have shown their colours by sticking with them. People who stayed with Ibill can really only blame themselves. It's not like this was a complete surprise to people.
Why are Ibill still operating? Well the executives are all being paid and getting their full wages, need I say more.
If you are owed an amount from Ibill that is growing by the month then you know what is happening, if the amount they owe you is being reduced then you have to watch very closely. But in my opinion they will sink and take a lot of money, including the 10% 6 month reserve with them.