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Old 02-11-2004, 11:48 AM   #1
Resolute
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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.
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Old 02-11-2004, 11:49 AM   #2
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Old 02-11-2004, 11:51 AM   #3
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And IF and thats and IF they would decide to NOT do processing for adult sites...


heh... Think about that for a minute...
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Old 02-11-2004, 11:51 AM   #4
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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?
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Old 02-11-2004, 11:52 AM   #5
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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.


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Old 02-11-2004, 11:52 AM   #6
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I sale this sig space
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Old 02-11-2004, 11:53 AM   #7
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http://biz.yahoo.com/rc/040211/finan...tercept_1.html
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Old 02-11-2004, 11:53 AM   #8
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Is this true?
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Old 02-11-2004, 11:54 AM   #9
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Is this true?

Ya
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Old 02-11-2004, 11:55 AM   #10
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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?
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Old 02-11-2004, 11:58 AM   #11
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More info at
http://news.moneycentral.msn.com/tic...mbo l=US:ICPT
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Old 02-11-2004, 11:59 AM   #12
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No, Intercept lost $135 million on the purchase and sale of iBill.
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Old 02-11-2004, 11:59 AM   #13
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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
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Old 02-11-2004, 12:02 PM   #14
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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...
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Old 02-11-2004, 12:03 PM   #15
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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.
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Old 02-11-2004, 12:10 PM   #16
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Quote:
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
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Old 02-11-2004, 12:11 PM   #17
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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?
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Old 02-11-2004, 12:12 PM   #18
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Is this true?
Sure Is !!
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Old 02-11-2004, 12:27 PM   #19
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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.
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Old 02-11-2004, 12:30 PM   #20
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Wow, that was a huge ass move mang!
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Old 02-11-2004, 12:32 PM   #21
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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.
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Old 02-11-2004, 12:37 PM   #22
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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.



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Old 02-11-2004, 12:58 PM   #23
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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!
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Old 02-11-2004, 01:00 PM   #24
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Quote:
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 ???


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Old 02-11-2004, 01:09 PM   #25
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Let me guess is it achdebit.com ???

What gave it away?!!
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Old 02-11-2004, 01:13 PM   #26
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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
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Old 02-11-2004, 01:14 PM   #27
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Quote:
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?
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Old 02-11-2004, 01:19 PM   #28
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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
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Old 02-11-2004, 01:23 PM   #29
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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.
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Old 02-11-2004, 01:25 PM   #30
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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.
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Old 02-11-2004, 01:28 PM   #31
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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...........
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Old 02-11-2004, 01:29 PM   #32
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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.
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Old 02-11-2004, 01:35 PM   #33
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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
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Old 02-11-2004, 01:37 PM   #34
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was a joke.. everyone knows wts is good
Whew!

OK, then I will still love you.
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Old 02-11-2004, 01:38 PM   #35
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Hopefully the new owners will have a clue about customer support.
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Old 02-11-2004, 01:51 PM   #36
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CJBill?
Domain: CJBILL.COM
Purchase Confirmation: Thank you for shopping with us.

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Old 02-11-2004, 01:52 PM   #37
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Does anyone think this will affect their UK division(Ibill Eu)?

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

thx,
Ray
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Old 02-11-2004, 01:55 PM   #38
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I had sex with Ibill
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Old 02-11-2004, 04:38 PM   #39
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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.
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Old 02-11-2004, 04:42 PM   #40
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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

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Old 02-11-2004, 06:59 PM   #41
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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!!
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Old 02-11-2004, 07:01 PM   #42
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It can only get better !
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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?
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Old 02-11-2004, 07:05 PM   #43
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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.
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Old 02-11-2004, 07:25 PM   #44
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Perry plans to drop adult. Good luck with your next processor. smartass.
?!
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Old 02-11-2004, 07:27 PM   #45
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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.
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Old 02-11-2004, 08:27 PM   #46
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More on this:

http://www.pimpcafe.com/article2/art...p?article=1656
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Old 02-11-2004, 08:56 PM   #47
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Domain: CJBILL.COM
Purchase Confirmation: Thank you for shopping with us.

You sneaky fucker.
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Old 02-11-2004, 09:12 PM   #48
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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 :-)
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Old 02-11-2004, 09:24 PM   #49
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Quote:
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...
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Old 02-11-2004, 09:36 PM   #50
jimmyf
OU812
 
Join Date: Feb 2001
Location: California
Posts: 12,651
ibill will not be around much longer, 7 months, a year.
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