Shoplifter:
Quote:
Please be advised there is a problem with a large portion of our EU payments. iBill had recently been committed a significant credit facility to help fund operational issues as well as meet our payout commitment date. Unfortunately, a portion of the funding has been delayed which has impacted our ability to completely fund the 12/19 EU semi monthly payout. In addition, we were required to establish a new European operational bank account. This requirement forced our EU processing funds to be held for several weeks making it extremely difficult to meet all of our EU payouts. This account is now open, however the initial process to receive the funds will take several days to fund to the final iBill account. We are expecting a significant amount of processing funds to be remitted to iBill by mid next week. We will provide you an update on Friday, January 14th.
The 01/05/05 EU payout and past due EU reserves will be funded in January; an update on these payout dates will be provided on January 19, 2005
As iBill has regrouped, we have had to establish a number of new business relationships. As a result, there have been several set backs and challenges. We hope to have these all behind us and continue to thank all of you for your support.
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Simply put... more bullshit. I like the way they remove the old updates - these a problem or embarassing?? :-)
Quick analysis is - the Euro bank has told em to fuck themselves. We got real professionals on the finance side at iBill - lots of foresight.
They already said they were paying Euro funds one/two days ago - now have all the reasons why not.
Wait for the next US reason not to pay and of course, the boring update.
Bottom line? They fucked up once more. Pathetic!
At least they are not "moving ahead" now, but "regrouping".