Lensman

They had an executive roundtable today with some big industry people. The new management team there is top notch, and make no mistake, Ibill is profitable and will be here for us for a long time. Why do you think 2 of the 5 biggest programs out there use them?

With all the credit card turmoil, I feel good about using Paycom and Ibill for my processing.

I'm tired, my flight was delayed 3 hours in Dallas.

Fletch XXX

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gothweb

Interesting. So, they knew people would be wondering if they are stable, so they invite some big guns over to show them around the office. Apparently, they impressed them.

Devil's advocate: Might Adult.com be getting some preferential treatment to stand up and say "the boat isn't sinking"?

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NickB.

Thanx for sharing Lens, we were just discussing new processors for our new programs

Lensman

It's public information, they are a very profitable company. There have been a bunch of rumors, etc. about them around here. And they have not been responding. The truth is that they are very stable.

RedShoe

I wonder if it's because they never send out checks on time and pocket the interest. (kinda like another evil processor who shall remain nameless... WSB)

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Mike69

Lens, you still up?

Fletch XXX

'mr puff puff your bark aint loud enough, i know chihuahahas wit more rah rahs.'

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Lensman

There was a payment info verification issue at the first of the year related to the Visa thing, but other than that, I've never had any problem getting paid.

Lensman

Going to bed.

Fletch XXX

dont worry niggah, im on the motherfucker.

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Kristoffer

edit: - deleted
I mixed up Globill and Ibill - sorry my fault

kmanrox

lensman, who made you a big industry guy??? newb!!

detoxed

no ones bigger than swoit

wouncie

In all due respect to Lensman ................ FUCK IBILL!

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Paul Markham

I don't think they would fuck with a guy like you, but I see too moany threads from small guys who live check to check.

Will not be giving them our business.

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Dax

I agree with Charly... They will always do everything right for the 'big' accounts... But for the avg webmaster... they dont give a damn....

Marc De

I would have to concur with Lens on this. I didn't make it to the executive round table but I had the top guys form ibill at my Vegas office last week... I've always had faith in them, been there for 6 years + and I'm sure we'll continue to push more of providers that way!

freeme

Swoit Rocks!!!

Serge_Oprano

Marc, I guess your balls are bigger than len's...
they come to you, while they make him come to them
;-)))

freeme

Serge_Oprano

it's OK, having balls smaller than Marc's is fine, it's still a big balls, right, Lens?

Lens, it's a good time to post the picture,
and I YES,
I am talking about your BALLS,
not your cars
;-))

Interlude

Maybe they'll pay. Probably they will, actually. But to willingly involve yourself with a company with customer service of that poor calibur is suicide.

THAT'S my problem with iBill.

SteveLightspeed

Glad to hear that Ibill is profitable and stable. What a relief! So I should be expecting to be paid the 30 grand they owe me on what day?

Ibill, I'll be the first to come here and sing your praises, the day I get my check.

Steve Lightspeed

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Serge_Oprano

yeap...MONEY talk,
not Len's praises repeating their own praises
;-0)

Marc De

Serge - always stirring the pot, or just dumping it on the floor

Steve - are you speaking of the web900 money? I can't imagine you are speaking of cc processing dollars...

Serge_Oprano

Marc,
don't let those big balls go into your head!
;-)))

...but I can name a few other heads they can go into
;-)))

mike503

i met boneprone at a roundtable pizza regarding jesus bill. there were a lot of industry bigots there.

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Honeyslut

3 hours.. ughhh..

I don't listen to rumors. I would try a product or service myself...

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Master_Yoba

IBill rocks

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EscortBiz

the stock market is down today but ibill is up, somethin must be goin on

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scoreman

I'm also in agreement with Lensman's assessment of iBill's management team and company direction.

Intercept's financials are public record, so their wasn't alot of time spent at the roundtable discussing the fact that ICPT is stable and profitable. ICPT is generating about 4 million profit per month, with only 32 million in long term debt they are not going under any time in the foreseeable future.

The roundtable was more than just iBill "singing their praises". There was alot of new information presented that focused on specific changes being made to their customer service call center, the coming changeover to a more robust billing engine (Next Gen), the status of the credit card association issues, and alternative billing.

Actions speak louder than words and iBills implementation of these projects will be something we will be closely watching here at the SCORE Group in the coming months. If they can successfully close these projects the industry as a whole will benefit greatly.

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SteveLightspeed

Marc, yeah, the 900 money -- they seem to have swept that under the rug. I recently spoke with an ex-Ibill rep who said that I should file suit against them, that they don't plan to pay it.

Did Ibill pay your 900 money?

contact me on icq if you'd rather chat privately

Steve
27296595

Giorgio_Xo

Lens,

Worldcom, Enron, Tyco, HealthSouth and others said they were profitible when they weren't.

Intercept reported an $.11 per share loss this past quarter (mostly relating to the purchase of iBill). The company pays its CEO over $575k a year for only $226.7M in sales (plus a gaggle of hacks that make $200k/yr.).

An average Costco location generates a similiar amount of sales per year and only pays the store manager around $120k-$180k.

http://biz.yahoo.com/p/i/icpt.html

Personally, I have never had a problem with iBill. I have used the service for over a year and I have always been paid on time. I do find them to be expensive and they take on little risk in return.

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Kimmykim

I've spoken with some of the upper management at IBill recently... mentioned this on at least one other post.

It seems to me that they realize where their mistakes have been made over the last year -- and what caused them to occur -- and it does seem to me that they are transitioning towards running their adult enterprises in a more sane and reliable manner, so that would make me tend to believe that they truly expect to stay in adult.

It's possible some of the management there doesn't particularly care for the adult business, but frankly if you walked into the situation that has occurred -- seeing these fines and stuff coming through, you'd probably be a bit freaked out as well if you weren't expecting such a thing...

At the end of the day it hurts the entire industry when a processor leaves, be it voluntarily or by force, and it's in everyone's best interests for things to improve there.

ronin

that's good news....

Vick

Few things to consider as well

It is well known that in the past Ibill has had SERIOUS data management issues - with the amount of data they have to manage this is a concern

Ibill in the past under old management with PURPOSEFUL INTENT MADE FRAUDULENT STATEMENTS, this included publicly lying on the hahahahahahaha board and making fraudulent posts

In the past Ibill also has very serious support issues for both clients and their customers

ICPT - Ibill's parent company has poor financials since taking over Ibill (though that is not the chief reason)

Look at ICPT performance over the past year
http://finance.yahoo.com/q?s=icpt&d=c

and all this is before we get to the Worldcom issue (I hate to say it but I see that as more a Worldcom issue than an Ibill issue and if Ibill didn't get paid from Worldcom - maybe Worldcom should be who has legal action taken against them and if that is the case .... get in line)

In 1997 through 1999 Ibill was among the premier 3RD party processing solutions, today even though it looks like they are trying to right their ship ..... I still have major concerns about Ibill, their stability and continued place in the 3RD party processing business

But you have to admit getting Lensman and Marc D on their side is good PR on Ibill's part and taking care of what most likely is 2 of their larger clients

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Kick Ass Chat

Wheres the 900 money???.......Ibill are thieves, plain and simple...

DrewKole

I had sex with a goat once.

Her name was Isbill sorta close.

Think on it

Kimmykim

Vick, one comment on the financials.

The former management of IBill was brought on board by the former owners to either take the company public or to sell the company to someone else.

If you look at how this was accomplished I don't think anyone can fault Garrett et al for doing exactly this.

Intercept finally decided to negotiate a way to take over management of the company as I understand it, early.

I think it might be a good idea to give them a chance to right things before nailing their coffin lid closed.

Lensman

No doubt. Of course they are Marc's primary and Paycom is my primary right now.

Vick

KK - I fully agree Garrett did an excellent job with regards to selling or going public. He did what he was brought in to do and did it well

Not really nailing the coffin shut - just expressing concerns and admittedly am still a little miffed and more than a little concerned regarding Ibill. Would be great if they could right the ship like Epoch did (although the circumstances were different)

If you notice I stated they were one of the best 3RD party processing solutions from 1997-1999

Still don't think ICPT really understood what they were getting into with buying Ibill at the time of the purchase/take over.....

I realize ICPT poor financials for the past year were for many reason including some um .... interesting acquisitions and trying for quick growth

Now maybe they are trying to do as much as possible in a positive fashion with Ibill .... but still the previous Ibill history is there - and it will take a while and serious effort to regain or rebuild a positive image as a viable 3RD party processor for the Adult Internet Entertainment industry

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Lensman

Notice their stock is up 5.5% today because of my comments.
http://finance.yahoo.com/q?s=ICPT&d=...d&l=on&z=m&q=l

Also, there is zero chance they are dumping adult. From
http://biz.yahoo.com/e/l/i/icpt.html

? Approximately 83-85% of the transactions in the former iBill
operations are for adult entertainment customers. That percentage
is unlikely to change significantly until the company increases
its new business through active marketing.

? Anticipated free cash flow of $30?$32 million for 2003.

That's profitable gentlemen.

Vick

http://biz.yahoo.com/e/l/i/icpt.html

"Since January 2003, the business at the former iBill is down approximately 11% on an average daily volume basis due to several factors, including customer attrition. That business is down approximately 15-20% from its high point in 2002"


There is a lot of info in that report that can be seen both positively and negatively

I hope they can make a comeback, it's benefits everyone in the industry to have more solid billing options

But Lens, seriously you are a sizable customer for Ibill so you're going to get the story in the best possible light

We'll see what happens

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beemk

hey lensman you might want to check the sig rules, i dont think you are in compliance.

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shawcutie

Why Lensman, you should have called Brad & I, we would have taken you to lunch ;)

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Kimmykim

Vick,
I've listened to the Intercept web cast from last week in large part, and the decrease in business is by no means totally related to adult.

For those who are unaware, Intercept has several divisions that do financial services between banks and between banks and consumers.

From some of the things that I know I would guess that their adult business probably stayed the same or improved on a gross intake level. Of course the fines they've declared publicly take a huge bite of out earnings since that is directly related to the bottom line.

I've had some contact with upper mgmt there recently about a few things I am working on, and frankly I do believe they are working hard to get things back on the right track.

From what I heard about yesterdays discussion they were quite frank with the accounts who were in town for the discussion and stressed the positive and the new ideas they are working on as well.

scoreman

The stock also is getting mileage over upgrades by analysts (the non GFY ones ). Also $7.00 is a key price point. If you look at the moving avg of the stock since jan you can see that it generally had a ceiling of about $7 since their big drop. Moving over that average and sustaining the price will bring more action into the stock. Look at the way volume shot up today once the stock moved over $7.00. There will likely be profit taking in the coming days but if the stock does not face negative news it will likely establish a new ceiling and move higher in the coming weeks.

[Dave now takes off the stock speculator hat and puts back on the big tits-rus hat]

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Giorgio_Xo

Lens,

Do you own shares in ICPT?

I am always leery of anything anticipated. After anticipating lucrative stock options from my past three Bay Area dotcoms, until I see the cash in the bank account it doesn't count.

I hope ICPT does well with iBill. It is important for our industry to have successful public companies that are directly related.

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BritishTwinks

I think a lot depends on what % of iBill's business is from the few big programs and what % is from small independent sites.

It's relatively easy to keep the big programs happy and I suspect iBill are good at that part of their business. Lens's post backs that up. But it's very obvious from the other messages here that a lot (a majority?) of smaller sites are giving up on them, and new sites are being advised not to use them.

Of course, today's small sites may be tomorrow's big programs.

And people have long memories.

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