Replies to post #34 on IBSG Intl Inc. (IBIN)

[moldme1]

I think you mean SEC not FCC. Anyhow they have a new, respectable accounting firm. So, if there is going to be a big blow up, it should come soon. Awhile ago they changed their accounting method to not show as earnings accounts receivable, but only show earnings on money actually received. If they can get past the mistrust and demonstrate the earnings are real, they are worth a lot more than what they are trading at right now.

[gary schrimpf]

Rivers talked about moving to the Naz in the first CC he held in October 2003. He had what appeared to be a shill asking him leading questions to attempt to enhance the value of the company.

Shortly afterwards he started selling stock in the company IGII as if a merger had already taken place, which did not actually occur until several months later.

I was aware of the bait and switch tactics used by Rivers and made them public over a year in advance of others understanding what had happened. At the time I discovered this the stock was trading at its all time high pre-split at $1.70 share. I was holding about 40K shares at the time and had started buying in the sub $1 range and averaged up. Luckily, I and many friends I informed of Rivers scam tactics managed to get out at about even.

I suggest strongly that you read every post at the URL I gave you. The company was founded on fraud and has continually mislead investors who have not carefully read every press release, SEC filing, and other drivel put out by IBIN.

Inherently, Rivers has raped investors for millions and millions of dollars through the use of material misrepresentation and deception.

The last poster who stated that this new accounting firm was going to help is full of BS. I challenge him to show me what happened to the almost $12 million in accounts receivables that IBSG claimed they were due in the period from inception through January 2006 or for that matter any other money supposedly earned by the company. I challenge that poster to provide verifiable evidence from any single licensee of the product that they have ever paid a dime to IBIN. I challenge him to locate how many of the 15 million shares held in his wifes trust accountt slowly made their way into the market place without producing a SEC filing in her name. (I know.)

If those questions remain unansered to him, he doesn't know diddly about the inner workings of the IBIN stock scam.

If this is the best investment you can find in the market place you surely will lose most if not all of your money.

Here is an exact copy of an email that was received from a person inside IGII/IBIN when an inquiry was made regarding a private placement in 2004:

"You should be carefull where you throw your money.

This man is an acoplished liar.

Dig deeper."

[gary schrimpf]

"Why has there been no action by the FCC?" Actually, as another poster pointed out it is the SEC. I believe that if you read the highlighted portion of the following filing you can bet that this wasn't put out by IGII just for funsies. This shows the completely fraudulent nature of the company.

SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K/A
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): February 13, 2004

IBSG INTERNATIONAL, INC.
(Exact name of registrant as specified in this charter)

Florida 0-029587 65-0705328
(State or other jurisdiction
of incorporation) (Commission
File Number) (IRS Employer
Identification No.)


1132 Celebration Blvd., Celebration, FL 34747
(Address and Zip Code of Principal Executive Offices)

Issuer's Telephone Number: [phone]

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

|_| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

|_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

|_| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

|_| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 8.01. Other Events
On February 13, 2004 IBSG International, Inc. (the "Company") issued a press release and filed a Current Report on Form 8-K announcing the acquisition of its subsidiary, Intelligent Business Systems Group, Inc. In such press release and Form 8-K the Company stated that Intelligent Business Systems Group, Inc. "...commenced business in 1997, and is now in its sixth straight year of profitable operations..." The Company has determined that this statement did not correctly report historic facts concerning its Intelligent Business Systems Group, Inc. subsidiary and is filing this amendment to its Current Report on Form 8-K filed on February 13, 2004 to correct such statement. Intelligent Business Systems Group, Inc. was incorporated on January 9, 2003. Audited financial statements of Intelligent Business Systems Group, Inc. as of December 31, 2003 have been filed with the Company's Form 8-K/A filed October 21, 2004. Intelligent Business Systems Group, Inc. reported a net loss of $376,848 for the period from Inception (January 9, 2003) through December 31, 2003.

Such incorrect statement was made based on the operating history of another company which marketed technology which was marketed by Intelligent Business Systems Group, Inc. in 2003.

Now, if you look at the historical perspective of IGII as noted in early PR's from IBSG Rivers claimed that not only was the prior company in business since 1997 but that it had substantail earnings.

Can you say FRAUD!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

[gary schrimpf]

On 4/14/2005 in a 10K IBSG reported the following:

"The issuer’s revenues for the fiscal year ended December 31, 2004 were $3,295,014."

Yet, in January 2004 while Rivers was pedaling stock under the assumption by uninformed investors that a merger had already taken place between IGII and IBSG the company produced a PR stating they expected earnings of about $.58/share and revenues of about $19,000,000.

Yet in the same filing it states:

"Our net loss cumulative operating losses through December 31, 2004 were $2,935,461."

Big difference, eh? If you want to have some real fun try and figure out if the $3,295,014 were ever collected. I would be willing to bet you can't...and undoubtedly Rivers would have a difficult time also.

If one was curious enough, as I was, to dissect the PR's and SEC filings it was evident in January 2004, before the merger that IGII would never obtain gross sales of $19,000,000 based on the contracts they stated they had, most of which IMO were fabricated in the first place.

Anything else you want to know?

[gary schrimpf]

I forgot to mention that about the time the material in this PR came out..

"Yet, in January 2004 while Rivers was pedaling stock under the assumption by uninformed investors that a merger had already taken place between IGII and IBSG the company produced a PR stating they expected earnings of about $.58/share and revenues of about $19,000,000."

...Rivers was already diluting the share value by selling stock through private subscription agreements at prices that were substantially less than market price that were not reported in SEC filings until a later date. Included in the subscription agreement was a clause that if IGII/IBSG dropped below a certain dollar value between two dates that additional shares would be issued to make the value whole to a sum of I believe $1 per share or some such consideration.

Basically as I saw it, based on the knowledge I had, investors would of likely lost a goodly portion of their "investment".