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Eddie · 02-17-2005

Ibill CMI

Company Update 02/17/05
Dear Clients We would like to update you on several recent events that have occurred at iBill.

On January 21st it was announced that Interactive Brand Development (“IBD”), a publicly traded company, had acquired iBill and began committing the resources necessary to return iBill to a respectable and profitable status. For your information, IBD’s assets also include a 36.5% stake in Penthouse Media Group, significant investments in broadband TV and interactive media properties.

IBD’s decision to acquire iBill was based upon a full understanding of the issues facing iBill’s business, and we are focusing our energies and resources on achieving a turn around at iBill both through financial settlement with our clients and exploiting our innovative and secure products for current and future business.

IBD has engaged a top-tier restructuring firm to oversee the day to day operations and management of iBill in cooperation with IBD’s senior executives. As such, IBD is confident that iBill will be managed with proper corporate governance.

As part of this turn around initiative, iBill obtained an initial $2.0 million investment on December 30. Based on the plan being established in conjunction with our consultants, iBill and IBD have arranged for additional capital injections into iBill above this amount with a view of supporting and growing iBill while it continues to resolve the effects of the September 16th events.

Over the last five months there have been announcements regarding the funding of past due amounts. One of the first objectives of IBD’s management will be to address this primary concern through an organized and cohesive plan. This plan will be rolled out in the next few weeks and will supercede any previous announcements or commitments. We expect to update you on this progress no later than March 9th, 2005.

As you may be aware, Cathy Beardsley, iBill’s President, has announced that she will be leaving iBill to purse other interests. While IBD regrets Cathy’s departure we note that she chose both in the interests of iBill’s clients and employees to remain at iBill during the very difficult months of uncertainty while IBD evaluated iBill’s business. It is largely due to her efforts that IBD was able to feel comfortable in our ability to address iBill’s financial issues and complete this acquisition to the benefit of iBill’s clients. Over the next 30 days, Cathy will be working with IBD management to ensure the finalization of the First Data reserve release as well as the implementation of the Inteca trusted third party payment program for our European clients. She may also continue to work with iBill on a freelance basis going forward.

IBD recognizes that iBill’s clients have been through a difficult period caused primarily by events now rumored to be affecting others in our industry. Our experience in dealing with these same events has resulted in the implementation of the gkard debit card payment solution. This secure product has been tried and tested over the past several months to the benefit of many of iBill’s clients. As part of a new and strong organization, iBill stands ready to apply our experience and these products to existing and future clients.

Sincerely

Interactive Brand Development Inc.

My Icq to my Ibill Rep...
Eddie (03:58 PM) :
any news on my Ibill payment?
Ibill Rep (03:59 PM) :
are you in the EU?
Eddie (03:59 PM) :
no US.. have not seen a check in a long time at this point
Ibill Rep (03:59 PM) :
yeh i know...we have new managment now and their primary focus is to get everyonen paid..so i would say pretty soon
Eddie (04:02 PM) :
Word on the street is that your looking at bankruptcy now and there is no chance to recoop the losses...
Ibill Rep (04:02 PM) :
that's BS
Ibill Rep (04:03 PM) :
we have new management now...

New managment.. New this new that... I just want to get the money owed me for the last 5 months. Sigh.

Nickatilynx · 02-17-2005

Same , I'd love to get paid. They owe me a fair chunk of change..

I wonder who they owe the most and how much that is.??

Could be millions.

Raven · 02-17-2005

"IBD has engaged a top-tier restructuring firm to oversee the day to day operations and management of iBill in cooperation with IBD’s senior executives. As such, IBD is confident that iBill will be managed with proper corporate governance."

Nice. The spin doctor is alive and well.

*KK* · 02-17-2005

Quote:

IBD recognizes that iBill’s clients have been through a difficult period caused primarily by events now rumored to be affecting others in our industry.

I simply do not understand how hard it is to grasp the fact that glass houses and stones do not go together.

MacDaddy · 02-18-2005

Lots and lots of bullshit at iBill, but Cathy was good people. I wish her well wherever she ends up.

02-17-2005	#1
Eddie Members Join Date: Dec 2004 Location: Cincinnati OH Posts: 114	Ibill CMI Company Update 02/17/05 Dear Clients We would like to update you on several recent events that have occurred at iBill. On January 21st it was announced that Interactive Brand Development (“IBD”), a publicly traded company, had acquired iBill and began committing the resources necessary to return iBill to a respectable and profitable status. For your information, IBD’s assets also include a 36.5% stake in Penthouse Media Group, significant investments in broadband TV and interactive media properties. IBD’s decision to acquire iBill was based upon a full understanding of the issues facing iBill’s business, and we are focusing our energies and resources on achieving a turn around at iBill both through financial settlement with our clients and exploiting our innovative and secure products for current and future business. IBD has engaged a top-tier restructuring firm to oversee the day to day operations and management of iBill in cooperation with IBD’s senior executives. As such, IBD is confident that iBill will be managed with proper corporate governance. As part of this turn around initiative, iBill obtained an initial $2.0 million investment on December 30. Based on the plan being established in conjunction with our consultants, iBill and IBD have arranged for additional capital injections into iBill above this amount with a view of supporting and growing iBill while it continues to resolve the effects of the September 16th events. Over the last five months there have been announcements regarding the funding of past due amounts. One of the first objectives of IBD’s management will be to address this primary concern through an organized and cohesive plan. This plan will be rolled out in the next few weeks and will supercede any previous announcements or commitments. We expect to update you on this progress no later than March 9th, 2005. As you may be aware, Cathy Beardsley, iBill’s President, has announced that she will be leaving iBill to purse other interests. While IBD regrets Cathy’s departure we note that she chose both in the interests of iBill’s clients and employees to remain at iBill during the very difficult months of uncertainty while IBD evaluated iBill’s business. It is largely due to her efforts that IBD was able to feel comfortable in our ability to address iBill’s financial issues and complete this acquisition to the benefit of iBill’s clients. Over the next 30 days, Cathy will be working with IBD management to ensure the finalization of the First Data reserve release as well as the implementation of the Inteca trusted third party payment program for our European clients. She may also continue to work with iBill on a freelance basis going forward. IBD recognizes that iBill’s clients have been through a difficult period caused primarily by events now rumored to be affecting others in our industry. Our experience in dealing with these same events has resulted in the implementation of the gkard debit card payment solution. This secure product has been tried and tested over the past several months to the benefit of many of iBill’s clients. As part of a new and strong organization, iBill stands ready to apply our experience and these products to existing and future clients. Sincerely Interactive Brand Development Inc. My Icq to my Ibill Rep... Eddie (03:58 PM) : any news on my Ibill payment? Ibill Rep (03:59 PM) : are you in the EU? Eddie (03:59 PM) : no US.. have not seen a check in a long time at this point Ibill Rep (03:59 PM) : yeh i know...we have new managment now and their primary focus is to get everyonen paid..so i would say pretty soon Eddie (04:02 PM) : Word on the street is that your looking at bankruptcy now and there is no chance to recoop the losses... Ibill Rep (04:02 PM) : that's BS Ibill Rep (04:03 PM) : we have new management now... New managment.. New this new that... I just want to get the money owed me for the last 5 months. Sigh. __________________ Get Real...Get Paid

02-17-2005	#3
Raven Internet Annoyance Join Date: Dec 2002 Location: Washington State Posts: 575	"IBD has engaged a top-tier restructuring firm to oversee the day to day operations and management of iBill in cooperation with IBD’s senior executives. As such, IBD is confident that iBill will be managed with proper corporate governance." Nice. The spin doctor is alive and well. __________________ Raven If You'd Just Do It My Way, Your Life Would Be Better 27331641 Celeb Traffic? Go here: RevshareRewards

02-18-2005	#5
MacDaddy Members Join Date: Feb 2005 Posts: 37	Lots and lots of bullshit at iBill, but Cathy was good people. I wish her well wherever she ends up. __________________ Make $$ With The Mac! ICQ 317553282

02-17-2005	#2
Nickatilynx Banned Want to see your own Advertising Here! Join Date: Oct 2002 Location: Vancouver Canada Posts: 15,115	Same , I'd love to get paid. They owe me a fair chunk of change.. I wonder who they owe the most and how much that is.?? Could be millions.