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KinerjaPay Corp. (KPAY)
Other OTC - Other OTC Delayed Price. Currency in USD
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At close: 09:30AM EST
2,422 reactions on $KPAY conversation
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Let’s go wake up kpay
Well, kpay is finally trading at fair value- $0.00! Where did all those millions they made off coal go to? Probably Edwin hid it in some Cayman Islands bank.
Tell the ceo the gig is over
My goodness what an absolute #$%$!!?
Seriously, how do con men, like CEO, Edwin Ng, get away with the crimes they're committing? He said kpay would make $12 mill. on $100 mill. in coal deliveries, and that was before the price of energy soared! He's been telling big lies like that for decades.
We arrests people for selling $20 worth of drugs, but people like him, who scam people out of millions, over and over again, don't even get a slap on the wrist.
I know there are few rules for otc stocks, but your shouldn't be able to blatantly lie to the shareholders.
KinerjaPay Corp. Completed First Shipment of Coal to China Next shipments are starting. Company continues to expect revenues in excess of $100 million and profits of $12 million over the next 12 months PR Newswire JAKARTA, Indonesia, May 11, 2021 JAKARTA, Indonesia, May 11, 2021 /PRNewswire/ -- KinerjaPay Corp (OTCPK: KPAY) a Payment Gateway and Ecommerce Company based in Indonesia with recent changes in its subsidiary Company, P.T. KinerjaPay Indonesia, to include mineral and commodity trading such as coal and other general commodities, today announced its completion of first shipment of Steam Coal to China. Subsequently the Company is also announcing its next shipment schedule within the month, for another cargo load of 45,000 MT. The first shipment of steam coal from East Kalimantan to China has been completed with total load of 53,400 MT based on the Certificate of Weight being produced by the shipping agent. The Company has submitted the export documents to the Bank as per last week Friday for processing. The Company should receive payment within 4 business days. The Company has estimated that the shipment of the first 53,400 MT steam coal to produce a minimum profit of US$170,000 after deduction of all payables to supplier, transhipment company, surveyor, documentations and export taxes. Based on the final sum of LC claim, which is rounded at US$1,602,000, the Company registered an estimated gross profit of 10.6%. Subsequently, the Company is now progressing on the next shipment of 45,000 MT steam coal with Coal Grade NAR 3,800 kcal/kg (ARB) with specifications of Ash Content at 5% ADB Rate, Moisture max 38%, and Sulphur 0.3% ADB Rate. The mother vessel MV. YANGTZE QUANTUM – VOY 2101 has dropped anchor at Muara Berau East Kalimantan with estimated commended loading schedule on May 15^th 2021. Mr. Edwin Ng, CEO of KinerjaPay Corp said "Despite the recent inclement weather we delivered our first shipment of coal. The demand for Indonesian coal in China is rising rapidly. We have signed on several other orders. We continue to expect revenues well in excess of $100 million and profits of over $12 million over the next twelve months now that the shipments have started. The cash flow from the coal commodities trading business will be very significant this year. We believe that this is a long run sustainable business that identifies KinerjaPay Corp. as a leading investment vehicle on Indonesian economic growth."
They will have over $103 million in revenues with at least 12% net profit, I expect a $1+ within few months
FINALLY.....a part of what we have been saying....good things come to those that wait....this is one part to the beginning of their out break!!!! Step two will be announced ...I think in a couple of weeks....
KinerjaPay Signed Indonesian Coal Contract Worth $103 million Per Year in Revenue with China Construction Investment Group (Ningbo) Trading
8:00 am ET December 14, 2020 (PR Newswire) Print
KinerjaPay Corp (OTCQB: KPAY), a Delaware Corporation, a digital payment and e-commerce platform Company ("KinerjaPay" or the "Company") with its business operations based in Indonesia, today announced that the Company has signed a new Indonesian bituminous coal contract with a China Construction Investment Group (Ningbo) Trading Co., Ltd. for a contract to supply up to 2,000,000 MT within the next 12 months.
At present stage, the contract's Unit Price for Indonesian Bituminous Coal in Bulk based on Coal Grade NCV 5500 kcal/kg (ARB) is USD $51.50 /MT FOB Trimmed Geared Mother Vessel at East Kalimantan, Indonesia, for a total Shipment Quantity of 80,000 Metric Tons. Total Shipment Value for the first shipment will be USD $4,120,000 with planned Delivery schedule on a bi-weekly basis for each shipment. The Company expects to deliver the contract in full, therefore expecting to bring in total Revenue up to USD $103 million in 2021, depending on the Coal Price Index throughout the year.
Once the Company completes the delivery of the contract in full, it is expected to earn at least US$9.8 million in Operating Profits on the over $100 million in total revenue. When asked about this deal, the Company's CEO & Chairman, Mr. Edwin W. Ng, commented "We have been working very hard to get this deal, and we finally did. This deal will change the Company by driving in revenues and income. We will rebuild the Company's portfolio to ramp up its sales and profitability. We hope to transform the Company in 2021 and focus more on general trading either online or offline to improve the Company's performance."
Mr. Ng further commented that "Our team has departed to East Kalimantan with the buyer this week to conduct the site survey and shipment preparation. We expect to deliver our first shipment by the end of next month. We will also work with local supplier and logistics Companies to ensure smooth delivery process, as well as PT. China Certification & Inspection Group (CCIG) to monitor the quality of the coal." Since I invested nearly $1 million into the Company last March, the Company has been generating positive cash flow without the need of the convertible loans, which have been used to finance the Company in the past three years. It is the company's intention to stay a positive cash flow company from hereout. The Company continues to be approached by institutional investors wanting to invest in the Indonesian marketplace. We believe that this coal contract will only make this easier to accomplish.
Sweet they got the letter of credit from the buyers bank. The first shipment starts Fed 20th and finishes Feb 28th and is worth $2.1Mill USD.
None of the 200M investments happened. They were just more of Edwin's pump and dump schemes. As for coal shipments, If the first shipment was real, the 2nd, the 3rd, etc. were not. If you read the contract posted in December of 2020, there was an automatic cancellation clause if any shipments were late. So, assuming shipment 1 was real, I believe the contract was automatically cancelled due to delays.
Additionally, there is an email address on the contract for the bank. I sent an email to that address, and it no longer exists. When Edwin made the announcement that the 2nd shipment "was scheduled", I tried to contact the gentleman shown as the contact on the contract.
So KAPY is all but completely dead.
They recently authorized up to 3 billion common shares. They just did this only 3 months ago from 945million to 2billion. Company is hemorrhaging money they are printing using their own shares to keep going absolutely last ditch efforts here it seems like they are basically on life support. Thankfully they did not RS but that is next for sure hopefully they can get some money before it needs to come to that but doubtful
If you take the time to read the Nov. 26, 2019 proxy statement on investorhub, you'll see where kpay plans on issuing 842,000,000 shares for financing and then plan on issuing another 1,000,000,000 shares. At some point there will be 2 billion shares outstanding. That's a massive amount of shares for a company of this size.
Another requirement is that P2P lending services providers must be members of the Indonesian Fintech Association (AFPI), the umbrella organization representing the industry, and must comply with the organization’s code of ethics and related commitments.
Additionally, P2P lenders are required to go through an interview with the OJK as part of the registration and business license phase. They are also only allowed to enter into a cooperation with a credit information management institution that has obtained a license from the OJK, and must have an agreement to mitigate the credit risk of lenders and borrowers by, for example, entering into an agreement with a credit insurance provider.
The OJK is planning to issue a new OJK regulation to replace the current OJK Regulation No. 77/POJK.01/2016 on P2P lending services, but it is still unclear when the new framework will be issued. It is however expected to introduce stricter requirements for companies involved in the sector
So..... how can a "scam" company acquire a license when they are in fact cracking down on illegal lending ? KPAY is the real deal. Hold on and be patient.
They say expect to receive $30 million, that is not the same as going to receive. They need to give more accurate statements
And so begins the end....sounds like a company getting 200m or about to launch a profitable P2P system, right? Cuz they would need to take on crippling toxic debt....right.
"As of November 25, 2019, there were outstanding 78,805,654 shares of our Common Stock and approximately 841,932,566 shares of Common Stock reserved for issuance underlying convertible notes, options and warrants. We have been funding our operations utilizing proceeds from convertible notes and expect to do so until we begin to generate significant revenues from our business operations. As a result of funding the development of our business operations and the costs of our operations by the issuance of shares of our Common Stock and the requirement of reserving shares underlying convertible notes, we do not have a sufficient number of authorized but unissued and unreserved shares of Common Stock for near term corporate purposes. See the discussion below under “Purpose and Effect of Increasing the Number of Authorized Shares.”
The Guardian: "China formalizes cut to Australian coal imports, state media reports." Indonesia one of the recipient of the would be $14 Billion coal export.
I hope $KPAY truly got into the coal export business.
Has anyone paid attention to the massive increase in share volume daily.... it is unbelievable the volume increase.... something big is about to happen this week ....a longs keep holding ... this about to turn in to a rocket ship .... I expect to see it approach.05 cents by the end of the week
Been into this stock for a couple of years. Gone thru several promises of funding coming thru in a few days, a few weeks, a few months etc. Nothing ever materialized. Frankly, I completely wrote Kpay as a complete loss. Not sure how they got into the coal business but I guess we'll see in couple of weeks. But as of now, anything coming out of Edwins' mouth has no credibility based on history. Only time will tell.
KPAY$14 within next months. Why? PT MDU Acquisition
$14 within next months. Why? PT MDU Acquisition in February adds $70m annual revenues x 6 SaaS multiple = $420m / 30m shares outstanding = $14 per share. This is not including a share buy back anticipated of $5m shortly and $200m cash investment and future acquisitions over next 6 months adding more to the annual revenues. Also potential Nasdaq uplisting in the next 6 months per the CEO. Any argument of dilution at $1.80 with $200m investment ask yourself then why is there a 9.99% ownership clause and why would they buy back shares with $5m if they expected dilution? Wahana is effectively the Indonesian Infrastructure fund and this company has its backing very significant and long term investors.
8:00a ET 3/24/2021 - PR Newswire
KinerjaPay Corp. Updates Coal Shipment Progress: Company has started loading the first boat
KinerjaPay Corp (OTCPK: KPAY) a Payment Gateway and Ecommerce Company based in Indonesia with recent changes in its subsidiary Company, P.T. KinerjaPay Indonesia, to include mineral and commodity trading such as coal and other general commodities, today posted an update about its coal shipments to its buyer in China.
The Company has started the loading of 55,000 MT of coal to the mother vessel at East Kalimantan in the last week. The loading process was slightly delayed from February 2021 due to the slight delay of Mother Vessel's arrival and Quality Assurance processes by the quality inspection team of the buyer. As of today, the Company has started to load the coal to the barge vessel which could load up to 7,500 MT per boat.
The Company has started the loading the first of seven barges, all of which will take up to two weeks to complete. Upon completion of loading the first vessel, the Company shall be able to claim payment from the buyer by submitting all shipping documents to the Bank.
Mr. Edwin Ng, CEO of KinerjaPay Corp said, "Despite the slight delay in the arrival of the Mother Vessel, we are now on schedule for monthly deliveries to our buyer. We anticipate revenues over the next 12 months to be in excess of $100 million with profits of excess of $12 million. We continue to seek out other buyers for the Indonesian coal as well. We are excited to have this business get off the ground."
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