Full Control of IP, Cloud & Data Center Will Allow the Company to Expand Beyond Indonesia. It Will Be Able to Offer Cloud Computing Services to It's Customers.
JAKARTA, Indonesia, May 14, 2018 /PRNewswire/ --
KinerjaPay Corp., (KPAY), a digital payment and eCommerce platform, ("KinerjaPay" or the "Company") today announced its plan to acquire PT. Kinerja Indonesia.
The rapid expansion of KinerjaPay has enabled the Company to have the ability to consolidate its IP technology and data center assets. When KinerjaPay was set up several years ago, the company contracted with the private PT. Kinerja Indonesia company to provide Data Center & Business Services. KinerjaPay's rapid growth has resulted in its becoming the largest full-time customer at PT. Kinerja Indonesia. The two-year Service Agreement has come to its conclusion and KinerjaPay has decided to merge with this business. This consolidation will enable KinerjaPay to report all the sales running through the KinerjaPay network under GAPP rules. In addition, it will now own its cloud network and IP technology.
The acquisition positions the company to launch its services into Vietnam and Thailand. Owning the cloud-based technology will enable the company to offer its customers the ability to expand beyond Indonesia. Similar to Amazon and Alibaba, KinerjaPay will now be able to enter the cloud computing services business, called KinerjaCloud.
The merger with PT. Kinerja Indonesia will take approximately three months to complete. The company will issue 1,333,333 restricted common shares to acquire PT. Kinerja Indonesia.
KinerjaPay enables consumers to "Pay, Play and Buy" through its secure web portal and mobile applications. Based in Indonesia, the Company provides easy and convenient payment solution while shopping online at its marketplace platform. With its current omni-channel platform, users can perform various payment services such as credit card bill payment, utility, phone bill, healthcare insurance and direct transfer to anyone at their convenience. KinerjaPay is also planning to launch other eCommerce verticals such as travel market, delivery services, and online gaming in the near future. The Company's services are available through its mobile applications and on its website at http://www.kinerjapay.com.
Notice Regarding Forward-Looking Statements
This press release may contain forward-looking statements, about KPAY's expectations, beliefs or intentions regarding, among other things, its product development efforts, business, financial condition, results of operations, strategies or prospects. In addition, from time to time, KPAY or its representatives have made or may make forward-looking statements, orally or in writing. Forward-looking statements can be identified by the use of forward-looking words such as "believe," "expect," "intend," "plan," "may," "should" or "anticipate" or their negatives or other variations of these words or other comparable words or by the fact that these statements do not relate strictly to historical or current matters. These forward-looking statements may be included in, but are not limited to, various filings made by KPAY with the U.S. Securities and Exchange Commission, press releases or oral statements made by or with the approval of one of KPAY's authorized executive officers. Forward-looking statements relate to anticipated or expected events, activities, trends or results as of the date they are made. Because forward-looking statements relate to matters that have not yet occurred, these statements are inherently subject to risks and uncertainties that could cause KPAY's actual results to differ materially from any future results expressed or implied by the forward-looking statements. Many factors could cause KPAY 's actual activities or results to differ materially from the activities and results anticipated in such forward-looking statements, including, but not limited to, the factors summarized in KPAY 's filings with the SEC. In addition, KPAY operates in an industry sector where securities values are highly volatile and may be influenced by economic and other factors beyond its control. KPAY does not undertake any obligation to publicly update these forward-looking statements, whether as a result of new information, future events or otherwise. Please see the risk factors associated with an investment in our securities which are included in our Annual Report on Form 10-K as filed with the U.S. Securities and Exchange Commission on February 11, 2016.
For more information, please visit our website http://www.kinerjapay.co. There you will find access to all of our past press releases and SEC filings regarding the activities discussed in this letter.