Lender: "iBill Defaulted On Its Loan!" iBill: "What You Talkin 'Bout Willis?" - GoFuckYourself.com

BoyAlley · 05-05-2006, 11:50 AM

Ok, this is funny shit:

Quote:

DEERFIELD BEACH, Fla. ? IBill parent company Interactive Brand Development has received notice from a lender that it has defaulted on a $3.8 million loan, the company said in a filing with the Securities and Exchange Commission.

IBD President Gary Spaniak refused to comment on the matter to XBIZ late Thursday; however, the company, in the SEC filing, said it believes that the lender breached its deal.

http://xbiz.com/news_piece.php?id=14772

BoyAlley · 05-05-2006, 11:50 AM

SilentKnight · 05-05-2006, 11:55 AM

"If the outstanding amounts are not immediately paid in full, the filing said, the lender intends to dispose of all collateral owned by IBD, including accounts receivable, processor reserves, inventory, equipment, property and other collateral of iBill and its XTV Investments fund."

I guess they better get in line. It starts at ibull's front door...and extends around the globe.

WiredGuy · 05-05-2006, 11:57 AM

Why in the world would anyone lend iBill money

WG

Altheon · 05-05-2006, 11:59 AM

Not really surprising. The only thing a billing company has is trust and they lost that a long time ago. The only good thing is that a lot of us got a tax write-off for bad debts.

-A

Webby · 05-05-2006, 12:00 PM

Quote:

IBD President Gary Spaniak refused to comment on the matter...

That makes a change from listening to lies, "forward looking statements" and bullshit.

And this is a loose use of words...

Quote:

Two months ago, iBill agreed to outsource its online payment processing to Etelegate.com, an unrelated third-party processor that converts credit cards, checks, Web 900 and dialer transactions.

Etelegate.com is not any legal entity - it's a $10 domain name. The actual company Etelegate Limited is a UK entity which has already been dissolved.

John69 · 05-08-2006, 01:00 PM

ibill blows

DebsDeep · 05-09-2006, 04:51 AM

it never ends

Booger · 05-10-2006, 07:28 AM

Quote:

Originally Posted by Webby

That makes a change from listening to lies, "forward looking statements" and bullshit.

And this is a loose use of words...

Etelegate.com is not any legal entity - it's a $10 domain name. The actual company Etelegate Limited is a UK entity which has already been dissolved.

Call the phone number on etelegates website it goes to ibill sales department

detoxed · 05-10-2006, 07:49 AM

WTF? can this not be construed as something like massive fraud? All the lies and BS? Someone get a search warrant, call the FBI or some shit

the etelegate smokescreen?

John69 · 05-10-2006, 08:13 AM

Quote:

Originally Posted by detoxed

WTF? can this not be construed as something like massive fraud? All the lies and BS? Someone get a search warrant, call the FBI or some shit

the etelegate smokescreen?

a poor smokescreen at that!

Webby · 05-10-2006, 09:19 AM

Quote:

Originally Posted by Booger

Call the phone number on etelegates website it goes to ibill sales department

Exactly!

The other factor is - "whoever" is also using the name of a dissolved UK company, Etelegate Limited, as a contact on the etelegate website (the address, 29 Harley Street, London, on the website is a maildrop).

No filings have been received by the UK companies registrar since the company formation and this company has already been dissolved at Companies House in the UK. (BTW... it is an offense to purport to operate or trade using a company name which does not exist or has been dissolved)

Give em more rope!

Paul Markham · 05-10-2006, 09:25 AM

You know what I find amazing about this whole saga. It's that they still have the license to do business with the CC companies.

We are pinned to 1% CB but the processors get away with fraud.

SilentKnight · 05-10-2006, 09:49 AM

Quote:

Originally Posted by Paul Markham

You know what I find amazing about this whole saga. It's that they still have the license to do business with the CC companies.

I've wondered about that too for quite some time. Its mind-boggling to think that a company such as iBill that has badly ripped off so many others - is still allowed to process for visa and MC. I think that also speaks about the ethics of the major CC companies as well. They don't appear to give a rat's ass about the ongoing fraud and scam - as long as the billing continues. No one can convince me that the higher-ups at visa and MC aren't aware of the situation with iBill and unpaid webmasters.

05-05-2006, 11:57 AM	#4
WiredGuy Pounding Googlebot Industry Role: Join Date: Aug 2002 Location: Canada Posts: 34,488	Why in the world would anyone lend iBill money WG __________________ I play with Google.

05-08-2006, 01:00 PM	#7
John69 Confirmed User Join Date: Sep 2005 Posts: 942	ibill blows __________________ DARKSOUL: thanks but no thanks, your over priced.

05-09-2006, 04:51 AM	#8
DebsDeep Confirmed User Industry Role: Join Date: Feb 2003 Posts: 2,649	it never ends __________________ http://www.gothamscreenprinting.com Cheapest T's Online. $5 tshirts printed, no minimums, no fees of anykind!!!!

05-10-2006, 09:25 AM	#13
Paul Markham Too old to care Industry Role: Join Date: Jun 2001 Location: On the sofa, watching TV or doing my jigsaws. Posts: 52,943	You know what I find amazing about this whole saga. It's that they still have the license to do business with the CC companies. We are pinned to 1% CB but the processors get away with fraud. __________________ Blowout deal. 880 videos, 2,400 image sets, plus many RAW videos. $500. PM me for a deal. Skype Paulmarkham70

05-05-2006, 11:50 AM	#2
BoyAlley So Fucking Gay Join Date: Nov 2004 Posts: 19,714

05-05-2006, 11:55 AM	#3
SilentKnight Megan Fox's fluffer Industry Role: Join Date: Oct 2005 Location: shooting pool in Elysium Posts: 24,818	"If the outstanding amounts are not immediately paid in full, the filing said, the lender intends to dispose of all collateral owned by IBD, including accounts receivable, processor reserves, inventory, equipment, property and other collateral of iBill and its XTV Investments fund." I guess they better get in line. It starts at ibull's front door...and extends around the globe.

05-05-2006, 11:59 AM	#5
Altheon Confirmed User Join Date: May 2004 Posts: 506	Not really surprising. The only thing a billing company has is trust and they lost that a long time ago. The only good thing is that a lot of us got a tax write-off for bad debts. -A

05-10-2006, 07:49 AM	#10
detoxed vip member Join Date: Jan 2003 Posts: 17,798	WTF? can this not be construed as something like massive fraud? All the lies and BS? Someone get a search warrant, call the FBI or some shit the etelegate smokescreen?