Is it worth pursuing claims against IBILL?

Collapse
X
Collapse
 
  • Page of 1
  • Time
  • Show
Clear All
new posts
Previous template Next
  • elric
    Confirmed User
    • Aug 2002
    • 296
    #1

    Is it worth pursuing claims against IBILL?

    So from the recent news it looks like IBD has now acquired IBILL. From what I can gather they paid with 49% of IBD in a transaction valued at "$33 million" I think based on the value of IBD stock. Who knows if that number has any bearing in reality, but it's a lot of money.

    According to some articles, IBILL was billing $280 million a month.

    So it seems like there should be money in there somewhere to pay people who are still owed, right? I mean how much can they owe webmasters? $1 million? $5 million?

    I mean, even if IBILL doesn't have the cash to pay us, they could still pay us in equity in IBD...

    So aside from cybersocket, I was just wondering if anyone else is looking into it.

    Anyone?
    <--- I have never worked with this program.
    Tags: None
    • Webby
      Too lazy to set a custom title
      • Oct 2002
      • 14956
      #2
      Originally posted by elric
      So from the recent news it looks like IBD has now acquired IBILL. From what I can gather they paid with 49% of IBD in a transaction valued at "$33 million" I think based on the value of IBD stock. Who knows if that number has any bearing in reality, but it's a lot of money.

      According to some articles, IBILL was billing $280 million a month.

      So it seems like there should be money in there somewhere to pay people who are still owed, right? I mean how much can they owe webmasters? $1 million? $5 million?

      I mean, even if IBILL doesn't have the cash to pay us, they could still pay us in equity in IBD...

      So aside from cybersocket, I was just wondering if anyone else is looking into it.

      Anyone?
      Definately!

      The purpose is two-fold.

      1) Grab whatever off a liquidator, should that come first, or they pay by whatever means are available. I doubt shares are of value - IBD managed to lose their shareholders most of their investment over the last six months.

      2) Should this, as it appears to be daily, end up as a criminal matter and charges filed, - to ensure those responsible are prosecuted and thrown in jail.

      It's not always about money :-)
      XXX TLD's - Another mosquito to swat.

        Comment

        • elric
          Confirmed User
          • Aug 2002
          • 296
          #3
          According to Yahoo, IBD's market cap is $6.74 million.

          http://finance.yahoo.com/q?s=IBD
          <--- I have never worked with this program.

            Comment

            • Webby
              Too lazy to set a custom title
              • Oct 2002
              • 14956
              #4
              Originally posted by elric
              According to Yahoo, IBD's market cap is $6.74 million.

              http://finance.yahoo.com/q?s=IBD

              Yea... Here's their current share history. Shares that were worth around $8 are currently about .50 cents.

              http://finance.yahoo.com/q/hp?s=IBD&...=28&f=2005&g=m

              Add to that they have the SEC on their neck. It may not be accurate - who knows? .. tho the SEC did claim they were operating at a $32K deficit.

              IBD sure as hell did not want to get into bed with iBill - it was a matter of the lesser of two evils and $6mill is nothing when you consider the problem with iBill - that money could wipe out in less than a day. It's all a fucking mess :-)
              Last edited by Webby; 02-02-2005, 11:18 AM.
              XXX TLD's - Another mosquito to swat.

                Comment

                Previous template Next
                Working...