xbiz world
xbiz premiere

Care Concepts Delays IBill Acquisition

POMPANO BEACH, Fla. — The recent purchaser of payment processor iBill announced Friday that it intends to rescind its purchase of iBill and sister-company Media Billing LLC and delay acquisition in order to keep its company stock listed on the American Stock Exchange.

According to a statement released by Care Concept I Inc., AMEX informed the company on Monday that it intended to de-list and suspend trading on company stock pending a hearing regarding several stock listing eligibility issues. Trading on all Care Concepts' stock was frozen Tuesday.

“It is the company’s clear objective to resolve with the AMEX all issues relating to the iBill acquisition and to permit the continued trading of its stock on the AMEX for the benefit of its shareholders,” stated Gary Spaniak Jr., president of Care Concepts.

Spaniak stated that company stock will probably resume trading Monday morning.

According to a press release, the company does not know whether it will be possible to resolve AMEX’s listing issues, but that Care Concepts will complete the iBill acquisition if the exchange doesn’t sign off on it by Jan. 21, 2005.

Care Concepts originally acquired iBill in August, paying $55 million to Penthouse International in an all-stock deal.

Copyright © 2026 Adnet Media. All Rights Reserved. XBIZ is a trademark of Adnet Media.
Reproduction in whole or in part in any form or medium without express written permission is prohibited.

More News

Ofcom Fines 8579 LLC $1.8 Million for AV Noncompliance

U.K. media regulator Ofcom on Monday imposed a fine of 1.35 million pounds (more than $1.8 million) against adult site operator 8579 LLC for failing to implement age checks as required for compliance with the Online Safety Act.

Pearl Industry Network Launches 'TrustLink' Verification Platform for Creators

Trade group Pearl Industry Network (PiN) has launched TrustLink, its free verification platform for creators.

FSC Updates Complaint in Tennessee AV Case, AG Motions to Dismiss

The Free Speech Coalition this week filed an amended complaint in its lawsuit challenging the Protect Tennessee Minors Act as unconstitutional, in response to which the Tennessee attorney general motioned for dismissal of the case.

Cherie DeVille Joins Woodhull Freedom Foundation 'Free Speech' Panel

Multi-XMAs winner Cherie DeVille will join the upcoming Woodhull Freedom Foundation panel series "Fact Checked by Woodhull," addressing free speech on Feb. 26.

Wisconsin AV Bill Moves Ahead, Minus Anti-VPN Provisions

The Wisconsin state Senate on Wednesday advanced a bill that would require adult websites to verify the ages of users, but approved an amendment striking proposed language that would have required sites to block virtual private network traffic.

Pineapple Support Introduces 'Wellbeing by PS' Service

Pineapple Support has debuted its new Wellbeing by PS service, providing mental health support packages for companies and agencies.

MyMember.site Integrates Bluesky Functionality

MyMember.site has added Bluesky features to its website management platform.

GirlsDoPorn Defendants Ordered to Pay Victims $75.5 Million

A federal court has ordered former GirlsDoPorn owner Michael Pratt and his co-defendants in the GDP sex trafficking case to pay restitution totaling $75,568,283.47 to 106 victims.

SWR Data Publishes 'Clip Trend' Report

Adult industry market research firm SWR Data has published a report on clip platform performance and sales.

Another German Court Rejects Blocking Orders Against Pornhub, YouPorn

A German court has blocked the Rhineland-Palatinate Media Authority (MA RLP) from forcing telecom providers based within the court’s jurisdiction to cut off access to Aylo-owned adult sites Pornhub and YouPorn.

Show More