IBSG International Inc (EM) (IBIN)

IBIN SEC Suspension:

http://www.sec.gov/litigation/suspensions/2014/34-71465.pdf

Order:

http://www.sec.gov/litigation/suspensions/2014/34-71465-o.pdf

"Walters Alerts" put out the announcement.

PS: if any of you got in, I hope you got out already!!!

with all due respect, lets' try to keep Walters Alerts a little on the quiet side...that way we can all get in on the next one!!!

Outstanding I'll have some COIN ready for the next one!!

Similar template to Explosive Alerts. Bet they are affiliated

these guys alerted it http://waltersalerts.wordpress.com/

BRAVO, UP over 80% nice group for IBIN.

What group alerted IBIN? I have checked IHUB and Twitter and have not located the name

kind of under the radar pump and dump...I got the alert, but it's a small group

Buy a piece! Up we go.

Group Pump and Dump!

IBIN Who's Buying This?

Just my feeling:
The unique chance to get some money from IBIN, is through a guilty setence against the Rivers, because the equity ( most of it fictitious ) was given to the creditors.

LAST NEWS:
SEC Wins Judgment against Former IBSG International CEO
Posted March 23, 2011 2:00PM PST
The Securities and Exchange Commission secured a judgment against Michael Rivers, the former chief executive at IBSG International, for allegedly pumping up the company's stock through false claims in press releases.

A U.S. District Court in Florida entered a judgment of permanent injunction against Rivers that bars him from future violations of certain securities laws, as well as from serving as an officer or director with a public company registered with the SEC. The court could also still order Rivers to return $1.23 million in illicit profits, plus interest, and to pay a civil penalty.

The SEC alleged that Rivers profited from a three-year campaign of planting press releases with false claims of software licensing agreements. The commission also claimed that Rivers falsely recognized $23 million in revenues from the fake agreements in company filings. He then sold more than 1 million shares in IBSG, generating $1.23 million.


Rivers consented to the judgment without admitting or denying the allegations.


IBSG went public in a reverse merger in 2004.

JUDGMENT OF PERMANENT INJUNCTION AND OTHER RELIEF ENTERED AGAINST DEFENDANT MICHAEL RIVERS

Litigation Release No. 21894 / March 22, 2011

Securities and Exchange Commission v. Michael Rivers and ARKR Trust, LLC, Civil Action No. 6:09-CV-1674-MSS-DAB (M.D. Fla.)

JUDGMENT OF PERMANENT INJUNCTION AND OTHER RELIEF ENTERED AGAINST DEFENDANT MICHAEL RIVERS

The Securities and Exchange Commission announced that on February 28, 2011, the United States District Court for the Middle District of Florida entered a Judgment of Permanent Injunction and Other Relief against Michael Rivers, former Chief Executive Officer of IBSG International, Inc. The Judgment enjoins Rivers from violations of Sections 10(b) and 13(b)(5) of the Securities Exchange Act of 1934, and Rules 10b-5, 13a-14, 13b2-1 and 13b2-2, and from aiding and abetting IBSG’s violations of Sections 13(a), 13(b)(2)(A), and 13(b)(2)(B) of the Exchange Act, and Rules 12b-20, 13a-1, 13a-11 and 13a-13. In addition to injunctive relief, the Judgment bars Rivers from acting as an officer or director of a public company registered with the Commission. The Court will determine at a later date whether to also order Rivers to pay disgorgement, prejudgment interest, and a civil penalty. Rivers consented to entry of the Judgment without admitting or denying any of the allegations in the Complaint.

The Commission began this action by filing its complaint on September 29, 2009, against Michael Rivers and Relief Defendant ARKR Trust, LLC. Among other things, the Complaint alleged Rivers directed IBSG to issue multiple press releases announcing fictitious software licensing agreements, and to file periodic reports with the Commission that falsely recognized more than $23 million in revenues from the purported agreements. Rivers contemporaneously sold over one million shares of IBSG stock, generating approximately $1.23 million in illicit proceeds.

For additional information, see Litigation Release No. 21228 (September 30, 2009).



http://www.sec.gov/litigation/litreleases/2011/lr21894.htm

Yikes have to let some stays in portfolio go, as I will turn light out now!

Anyone have latest info on SEC charges against this co?

Out IBIN for another 45%

Anyone is welcome to view and post on my board. Check my iBox for previous trades, and please add a board mark if you benefit from the trades.

http://investorshub.advfn.com/boards/board.aspx?board_id=13404

I hadn't checked filings since the day I reviewed them, before the 8-K.. thanks for bringing it to my attention.
I had already bought yesterday, but sold at profit because it still bounced off the .10 floor.

Look at that last PR about a contract. Headline says its with Romania but the body of the article says its with Finland.

What else do you need to know lol?
Scam.

The company website is down ........

http://www.ibsgi.com/

IBIN just stay the F away from it. I came across 3 red flags last week in it after about an hour of DD.

Pure scam.

From yesterday's 8-K .......

Item 4.02 Non-reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review.




As previously reported, on January 6, 2009, due to significant health reasons impacting his ability to carry out his functions at the present time, Michael Rivers was relieved of his position as Chief Executive Officer of IBSG International, Inc., and Jim Queen was appointed as interim Chief Executive Officer. The Company has commenced an investigation of issues that include, but may not be limited to, possible discrepancies in the amount of the Company’s current assets reported, possible issues underlying the recording of the proceeds from business transactions as revenue, in addition to other issues regarding the Company’s business and operations. The Company, in conjunction with its outside securities counsel, has retained outside counsel to conduct an investigation into these issues.


As a result of the issues noted above and related uncertainties, the Board of Directors together with current executive officers of the Company determined on January 12, 2009 that the Company’s previously issued financial statements during the 2008 fiscal year should not be relied upon at this time. If necessary, the Company intends to restate these financial statements based on the finding of its investigation. The Company is in the early stages of its internal investigation, and in the process of the investigation the Company may discover information that will raise other issues.

Scam...no, it was founded on total misrepresentation and IMO outright FRAUD.

what I meant is that there is no balance sheet that can be relied on. It is NOT an accurate portrayal.

a POS scam then

No forced seller. False SEC filings.

I would guess that the real assets of IBIN are negative and that the $9MM claimed as income last year is totally non-existant.

see the SEC filings.
Anyway it's down to .10 here .
has the look of a forced seller

what balance sheet?

i've been watching this one too.. financial strength is there. nice balance sheet.

still thinking about it... lol

volume drop made my mouse twitch... lol

Looking to get some tomorrow....

pinching slowly... nice

Grabbed a few today. Possible nice Pincher play. Volume has been strong last couple days.

Grabbed two lots of it today I just needed to get my first buy in so I could get a nice drop for another one lol. This one could be nice OS still 12.4M per this post.

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=34593137

time to dust this one off, where's john wayne at?

FWIW
I have been informed that several of my postings have been understood as a personal attack on the CEO of IBSG. That was not the intention of those postings. Furthermore, and in the interest of clarification, I have no inner knowledge of the workings of IBSG. My postings regarding IBSG have been based solely on my opinion based on publicly available information. I did not intend to suggest insider knowledge of wrongdoing by the company or its officers.

runncoach you obviously can't read. When I say collected cash flow that means money collected from clients, not money raised from investors. Before you go off spouting about dillution you might want to actually read the report and see where the money came from.

Jeff Wilmont, a director bought 22,000 shares at $.95 on October 31st.

Yep
Which a large part of was dilution for cash, partially caused by less revenue in q2 than q1. Not exactly the business model pumped for years now is it? Oh yeah Rivers promised another roughly 3 million shares dilution for the remainder of 08 at the Noble conference. Heavier volume today and no upward shareprice movement. For a period today the bid was only .83 which is the lowest I have ever seen in 3+ years following this stock. There's a reason no one believes the story any longer.

...and for the second quarter in a row, positive, collected cash flow.

Earnings good again. What do we need to get the price up?

I disagree with your cash flow assessment. Their cash on hand improved from $2,138,496 to $4,001,375. Their paid in capital went from $20,160,045 to $21,241,135. Since their cash on hand went up by $1.86 million and only $1.08 million came from new investments (the stock for services), they must of had positive cash flow from somewhere. They list in their collectibles that they actually collected $3.12 million.

Check out SKNY I own it is all the rage here outside of and inside of philly

where do you get your info? I need to learn how to read a balance sheet. Anyewhere on the net that can teach me?

What do you mean?
Trading stock for services isn't close enough for you lol? Wonder where that 1.2 million for international consultants went? They wrote off a stolen laptop too lol.

Still no cash-flow?

earnings tomorrow

Runncoach have you heard from Gary? He was helping me out and stopped emailing me.

LMAO
Guess they had to do something to get the volume up since its only traded a total of 2100 shares all week. Has anyone gotten a chance to read the 10k yet? PR says its been filed but haven't seen a copy.

News!!!

Women in Finance Partners with IBSGI SA to Assist 50,000 Women Business Owners Utilizing Its BizWorld Digital Commerce Platform
Wednesday March 26, 8:00 am ET
Company Announces over $4 Million in Revenue for First Quarter 2008 after Record 2007 Geographic Diversity Continues to Boost Revenue Growth from Existing Business


CELEBRATION, Fla.--(BUSINESS WIRE)--IBSG International, Inc., (the “Company”), (OTC BB: IBIN - News) a holding company for four technology and software subsidiaries, announced today that Women in Finance (WIF), a South African Organization promoting women within business, has partnered with IBSGI SA to offer IBSG’s BizWorld Digital Commerce Platform to its small, medium and micro enterprises (SMME’s). The value of the license is US$3.2 million over four years, with a total projected estimated value for the transaction of approximately US$8.5 million
WIF is a national organisation promoting women within business, and assisting in the empowerment of women and small businesses particularly, but not exclusively, with regards to financial literacy and finances. Founded in November 2005, the organization serves more than 50,000 women-owned businesses. WIF is funded in conjunction with ABSA Bank and the South African federal government, and functions as one of the bank’s premier organizations. ABSA is one of the largest banks in Africa, serving an estimated 500,000 businesses.

“I believe this platform is beneficial, in that it provides the practical tools that allow SMME’s to develop and grow their businesses in an ever-growing network of like-minded small business owners,” said Colleen Larsen, CEO of Women in Finance. “The benefits of this platform will enhance the offerings Women in Finance is providing through the Showcase Your Business brand, and will ensure the greater sustainability of SMME’s in South Africa through the support it provides.”

WIF is the driving force behind the United Businesswomen of South Africa, an association formed to provide a collaborative support structure to organizations (whether for profit or not) involved in the empowerment of women, and to leverage their untapped potential. 18 organizations currently affiliate under this umbrella. The various services offered by WIF include support structures for women, networking, role modeling and mentorship, increased access to training, entrepreneurship and collaboration with various parties who can help women-owned businesses meet their objectives.

The South African government has a budget surplus of 30%. As large South African enterprises have restructured and downsized, small, medium and micro enterprises (SMMEs) have come to play an increasingly important role in South Africa's economy and development. The sector has grown significantly. Management’s research has shown that in 1996, around 19% of those employed were in the informal sector of the economy, and by 1999 this had risen to 26%. Given this increase, management believes that the government has therefore targeted investing in the SMME sector as an economic empowerment vehicle for previously disadvantaged people.

“Setting up and growing a business can be incredibly hard work, and Women in Finance is an organization that inspires the entrepreneurial spirit of the women of South Africa and fosters amongst them a willingness to help each other,” said Ingrid Ovenstone, Director of IBSGI SA. “This partnership between IBSGI SA and Women in Finance will take WIF to a new level, one where SMME’S have access to internet-based tools to benefit and grow their businesses. I am very excited to be part of this project, as I believe the SMME’s that utilize the platform will derive incredible benefit from it.”

Dr. Michael Rivers, CEO of IBSGI, said, “We continue to enhance our business based on existing relationships. We have protected IBSGI, to some degree, by developing a geographically diverse client base, and in 2007, we had a record year in large part because we are not at the mercy of a single market.”

The Company recently filed its Form 10-K, in which it reported that revenue increased approximately $7.0 million, or 92%, from approximately $7.6 million in FY2006 to approximately $14.6 million in FY2007. Net income increased approximately $4.2 million, or 597%, from approximately $0.7 million, or $0.10 per fully diluted earnings per share in FY2006 to approximately $4.9 million, or $0.57 per fully diluted earnings per share in FY2007.

About IBSG International, Inc. (www.ibsgi.com)

IBSG International, Inc. is a holding company for four technology and software subsidiaries: Intelligent Business Systems Group, Inc. (IBSG), a provider of turnkey digital service center software; Secure Blue, Inc., a Sarbanes-Oxley and security software solution provider; Intelligent Business Systems Development (IBSD), a software development, maintenance and data storage company; and IBSGI - UK, a consultant company focused on development of IT projects for Governmental bodies and multinational corporations.

IBS Group offers enterprise solutions designed to enhance the operating efficiency and create revenue for State Small Business Development Centers, business associations (e.g., business associations) and Fortune 1000 corporations by licensing its unique turnkey digital service center software, which provides a broad range of digital budgetary, administrative and commercial services (B2B, e-commerce, government to business and enterprise business services) on a single platform known as the BizWorldPro©.

Secure Blue, Inc. provides a robust economical Sarbanes-Oxley (SOX) compliance and security software suite, Secure Blue SOX Pro. It is targeted at small- and mid-cap public companies as well as private companies requiring SOX compliance to enable them to continue working with public companies.

As software providers, system integrators and Application Service Providers, IBS Group, Inc. and Secure Blue, Inc. generate revenue from license sales, system modifications, systems support and a percentage of monthly customer fees. The typical IBS Group/Secure Blue license agreement has a five-year term which is updated on an annual basis.

IBS Development, Inc. will provide ongoing support of International’s other subsidiaries, IBS Group and Secure Blue. The company provides development, system support and secure data storage, and will maintain offices in the US and India, where its current offshore development and support team is located.

IBSGI - UK establishes IT projects for various countries and multi-national corporations around the world. IBSGI - UK has already introduced the BizWorldPro platform to a number of countries and continues to provide demonstrations of the system on an international scale. For multinational corporations, the projects are normally recognized offset program qualified and provide a required contractual obligation of these corporations. IBSGI – UK maintains relationships with various multinational corporations and operates from centrally located offices in London.

Safe Harbor Forward-Looking Statements

Except for historical information contained herein, the statements in this release are forward-looking statements that are made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. The above information does not guarantee any successful closing of new business. No assurances can be given that any projections related to gross revenues or profit margins will be realized. Forward-looking statements involve known and unknown risks and uncertainties that may cause the companies’ actual results in future periods to differ materially from forecasted results. Such risks and uncertainties include, but are not limited to, market conditions, competitive factors, the ability to successfully complete additional financings and other risks.