DAVESNOTHERE

some facts from a former ibill employee:

1. andrew quit, he didnt get fired. they took away his commission/draw after he did something wrong, which essentially cut his paycheck in half. what was a decent paying paycheck every two weeks turned to peanuts when you cut it in half, forcing him out. believe it or not he was there for you guys trying to get you your money through settlements. it wasnt his deal. it was management in october telling him to tell you that he has no idea whats going on with settlements. they ALWAYS pay their employees their full check every two weeks. never a problem there.

2. at the end of this month, dont expect half of your money that your owed. it was suppose to be half your money this march and the other half march 2007. you never going to see that. instead, expect a notes payable offering you a stock option on their worthless penny stock, which is at .08 cents last time i checked. check out your new stock at: yahoo finance, IBDI.OB in the search

3. they were indeed evicted out of their once huge building and moved to one floor of a small office building.

4. i know a lot of employees, sales, customer service, client services that turned their phone off so they wouldnt have to deal with customers calling up about their settlements. there is simply no money for settlements. period. i saw one client that was owed over 2 million dollars! never going to see it, no way. they dont even really have a lawyer. they fired the one and only in house attorney because he fucked something all up.

5. if you need technical support or client services, just to set up a new account or anything really, plan on waiting days. there are about two people out of 40 that work there that know what their doin and they dont really care.

6. reserves..forget about those, you'll see them when you see your settlement. just around the same time, never.

7. they are relying on re-bills for the majority of their business and a few, very few big accounts that still, unbelievably enough are still hanging with them. that pays the employees and the bills.

8. segpay is essentially ibill without the debt. their prime players over at segpay, namely cathy, whom your humble author of this post has never met, is in charge over there. she and the others that run that joint are the real crooks that took off with your money. You see, ibill was once huge. but to pay for their huge houses, expensive cars, coke habits etc..they kept borrowing against YOUR money a month in advance. and they kept doing that to pay their humoungus salaries. well, they kept "paying themselves forward" that it finally caught up to them after 6 months to a year, and BOOM-their 43million in debt. there were just simple sales people, not executives or management or anything like that, bringing in $300,000 a year. thats $25,000 a month just to sign your account up. but segpay is this new, honest company! ya right.

9. the new owners are the old owners, just incognito. just the top level management and everybody that was associated are gone.

10. they go through employees very quickly, especially sales. people dont know what they are getting into or what they are dealing with when they are hired, let alone the industry. they'll hire any joe schmo that can turn on a computer.

you probably know all this stuff already