Kinbasha Gaming International, Inc (KNBA)

[Jronpar]

SEVERELY UNDERVALUED AT 4 CENTS! $$$$$$$$$$$$$$$$$$$$$$ TOKYO OLYMPICS
753 Howard Hughes Parkway

Suite 200

Las Vegas, NV 89169

www.kinbashainc.com
805-435-1803

DESCRIPTION
Kinbasha Gaming International, Inc. is a retail gaming company that operates 21 pachinko parlors in the Japanese prefectures of Ibaraki, Tokyo and Chiba. For more than 50 years, the company's retail gaming establishments have offered customers the opportunity to play the games of chance known as pachinko and pachislo. Pachinko is played on a device which resembles a vertical pinball machine and pachislo is played on a machine that resembles a western style slot machine. Pachinko and pachislo are collectively ranked as Japan's largest leisure activity.
SECURITY DETAILS
Market Cap Market Cap
553,615
04/08/2021
Shares Out
12,288,895
04/08/2021
MORE
FINANCIAL REPORTING
Reporting Status
Dark: Alternative Reporting Standard
Audited Financials
Not Available
Latest Report
06/30/2013
CIK
0001548106
Fiscal Year End
3/31
COMPANY OFFICERS & CONTACTS
Masatoshi Takahama
CEO
Satoshi Okamura
COO
Masami Umezono
CFO, Treasurer, Secretary
Darren Minton
Consultant
COMPANY DIRECTORS
Masatoshi Takahama
Chairman, CEO
Satoshi Okamura
Masami Umezono
SERVICE PROVIDERS
Accounting/Auditing Firm
Marcum LLP
750 Third Ave

11th Floor

New York, NY 10017

Investor Relations/Marketing/Communications
Trilogy Capital Partners
641 Lexington Avenue

Suite 1526

New York, NY 10022

Securities Counsel
TroyGould PC
1801 Century Park East

Suite 1600

Los Angeles, CA 90067-2367

PROFILE DATA
SIC - Industry Classification
7900 - Services-Amusement & Recreation Services
Incorporated In
FL, USA, 1996
Employees
880 as of 12/01/2012
Shell
No
COMPANY NOTES
Formerly=Gunslinger Records, Inc. until 6-2011

[WHITTENHALLJR]

Wow nice pop!!

[Big Brother]

28K shares traded today, 5th highest volume day since 2015, perhaps longer thats as far as I went back to look at the historical record.

2016-03-24--46.14k
2020-10-09--40.35k
2020-12-18--30.33k
2019-12-31--28.77k
2021-02-16--28.25k

[Big Brother]

You still following, looks like it's waking up again for some reason, only 7K shares just took out everything between .20 and .80.

[Big Brother]

Don't usually buy these types, but picked up a little bit in September & October, when I noticed some unusual bids coming in, as the ticker had barely ever traded for years.

I you look back at the historical record it only traded, a small handful of times, and very few shares, for many years, just seemed odd to me that anyone was bidding.

So for old times sake I grabbed a little, A) because there are so few shares available to trade, and B) because custodians have been grabbing a lot of abandoned tickers recently.

Trading history the last few years.

10 times in 2016
13 times in 2017
7 times in 2018
16 times in 2019
6 times from Jan-Aug 2020

[WHITTENHALLJR]

True perplexing... have you own shares here for a while?

$KNBA

[Big Brother]

If it is a custodian trying to hijack it, typically they would need shares first, that's part of what's presented to the court, that your a shareholder in the company, who wants to revive it and bring in value for the other shareholders.

Then once they get it, I believe they can cancel out old managements shares, issue themselves new shares, bring the filings back current, and then eventually, down the line, get more shares cleared and deposited for trading.....but until then, what's held at DTC is all that is tradeable.

Whether that's the case I have no clue, personally, I'd think you would want to try and load quietly, not put a big bid in and attract attention, especially in a ticker where shares are hard to get.

I don't have the foggiest idea what's going on, if anything, just a pure lotto really.

[WHITTENHALLJR]

Sure is interesting >>> I’ve never been in such a small SS like $KNBA >>> maybe it gets RM and then forward split like 10 for 1 so there are more tradable shares! Excited to be in!!

[Big Brother]

They could not dump if they wanted to, 365,291 shares is all that is in the market and currently tradable. The rest of the float would be in certificate form, DTC only accepts deposits of certificates, for electronic trading, from clearing firms, and certificates of defunct penny stocks are essentially un-clearable.....and therefore un-tradeable.

That's why I don't understand why someone would put such a large bid in, that just popped up today, maybe it was a fat finger mistake or something I have no clue.....lol.....but it's unusual to say the least, no one bids $15K out of the blue on ticker that has been defunct for 6 years.

[WHITTENHALLJR]

Someone is bidding 2.5M at .006 if that means anything... One thing it means is he’s not going to get them unless they dump most of os into the bid HAHAHA

[lowfloatmaster]

i hear ya bro , ya cant buy em all.. lol
but rootin for ya

[WHITTENHALLJR]

Fair enough I just grabbed a small lotto I can sit on>> love the float! $KNBA

[lowfloatmaster]

nope dont like it. off my screen.. crap i think

[WHITTENHALLJR]

Did ya grab some?

[WHITTENHALLJR]

Definitely moves on air! $KNBA

[WHITTENHALLJR]

Wouldn’t there be a custodian paper trail if someone was after $KNBA shell?

[WHITTENHALLJR]

Everything gone under .05 I think $KNBA

[WHITTENHALLJR]

Grabbed a few 5s thanks for the answer and heads up lowfloat

[Big Brother]

Yes, very low, street float is under 400K, and has been for a long time, the rest of the unrestricted, I can't remember who holds that, but it's never hit the market in almost a decade. Possibly some foreign investors who hold shares in name only.

[WHITTENHALLJR]

That’s pretty a small float no?

[lowfloatmaster]

got on watch
thanks for the info

[Big Brother]

IMO I would think so, I've noticed a lot of unusual bid action on this for the last several weeks, that it never use to get, and it's been on my watchlist since 2011....and today was the first time, it ever got that big of a bidder, so you'd think something is happening.

I don't believe Undertree would have acquired the shell in the BK, as Kinbasha was essentially a private company, when they went out of business, so I doubt it's them.

The bidder would never be able to get 2.4M shares, as there is hardly even anything available to trade, so I don't know what the thinking is.

[lowfloatmaster]

gotcha maybe custoianship coming?

[Big Brother]

Yeah, no clue, that was the old website they had years ago, that was the US version, and then they had their main website which was in Japanese. They are long gone, their pachinko parlors are now owned by Undertree Tokyo Co., Ltd.

https://www.yugitsushin.jp/news/etc/%E5%80%92%E7%94%A3%E3%81%97%E3%81%9F%E9%87%91%E9%A6%AC%E8%BB%8A%E3%81%AE%E6%94%AF%E6%8F%B4%E4%BC%81%E6%A5%AD%E3%81%AB%E3%82%A2%E3%83%B3%E3%83%80%E3%83%BC%E3%83%84%E3%83%AA%E3%83%BC/

[lowfloatmaster]

gotcha, wonder why current 2020 website?? interesting

[Big Brother]

No the bankruptcy happened after they went private, and abandoned the stock.

[lowfloatmaster]

someone bought 20k shares today looks like

[lowfloatmaster]

they do have active website updated at bottom 2020 ?https://kinbashainc.com/

[lowfloatmaster]

i see
so these are bk shares and worthless???

[Big Brother]

Has to be a custodian attempting to take this over IMO, no one bids almost $15K dollars on a abandoned ticker for nothing.

I was in this back when it was the shell Gunslinger Records in 2011. The Japanese did their RM in 2012 if I recall correctly, then an stupid and unnecessary reverse split, as the shell already had a good share structure, and then the stock basically almost never traded again after that.

That's why there are so few shares held at DTC, it barely ever traded, it was very frustrating....lol.

The Japanese tried to get things going, this was a OTCQX ticker, they hired a pretty good IR firm, but could never get anything going, so they gave up in 2014, abandoned this, and ultimately went bankrupt in 2015. I think going public was a last ditch effort to try and save the company, which failed miserably.

[lowfloatmaster]

hey its not me lol but was looking at this.
unrestricted 6.8 mill
dtc 300k
whats really the float ? whats avalable at dtc?

[Big Brother]

Why is someone bidding $15k on this 2.5M shares @ .006, there are only 343K shares held at DTC, the bulk of the float would still be in cert form, and unlikely to be traded, so 343K would be the max you would likely get.

[Big Brother]

Sorry for the late response, I have not followed this board in ages...lol. Basically, Kinbasha went bankrupt back in 2015, they abandoned KNBA and their pachinko parlors were acquired by Undertree Tokyo Co., Ltd.

https://www.undertree.co.jp/utt/

[k1234]

Hi there,

Anyone out there? Anyone have an update on this company? I am not having luck finding any current information.

Thank you!

Karen

[Big Brother]

Just noticed KNBA has the old Pink no info 'Stop' sign now on OTC Markets. Wouldn't surprise me if they gave up and went private given the lack of interest, seen it happen many times before with foreign companies.

[flick]

And there you have it...

[Big Brother]

Well I don't know if I would call it a POS, they are profitable, real and legit.....trading on the QX, the highest level of the OTC...... and these are things that 99% of other penny stocks will never achieve.

However, with that said, KNBA is not without their problems, first and foremost they are insolvent, they are in a business completely unknown to Americans and their IR firm is so lousy they probably couldn't even figure out how to raise awareness for the massive, Hilton IPO coming up....lol.

[flick]

Yeah, like me getting out of the POS. Good riddance.

[ragi]

I Hear ya, I also thought it had potential for some recognition.

[Big Brother]

Not much volume but could be this guy trying to drum up a little interest in KNBA.

FWIW I watched a couple of this YouTubers videos and he seems like a entertaining guy but lets face it KNBA is NOT an investment to make if your trying to get rich quick in penny stocks........not even close.....lol.

I've been in KNBA for years now and don't have jack chit to show for it. Fact is KNBA may never catch on with US investors, that was something in the back of my mind years ago, I figured it would take awhile, however, I never imagined it would take this long.

[ragi]

Hmmm, been a few trades as of late, there is still life here. Be awesome if the company really began to promote its stock, not in paid promo on stock sites, but with news and increase in profitability.

[Big Brother]

I don't say this very often but I'd almost like to see them dump a couple million shares, even if it drove the pps down into teens or single digits. The float is just too tiny, there is absolutely no liquidity whatsoever, they should have never done the r/s after the merger, it all went to hell when that happened.

Perhaps if they did a big share dump or a f/s even they could re-energize the stock. I mean right now it's just dead in the water, there is zero liquidity, zero interest and hasn't been for ages, they either need to come up with some sort of strategy to turn it around or just give it up because what they are doing now is not working.

[flick]

I think you pissed off the KNBA gods.

[alpinefrost]

OK KNBA, why should I still hold for you are you going to do anything for us!
AP

[Aston Martin]

PS. Does anybody believe in this freefloat: 219k shares? Sounds ridiculously untrue.
As well as in 12 million shares OS ?

[Aston Martin]

I have to agree. Size of debt compared to the income is horrible.
Additionally I ask myself how such enormous debt got together. All in all the whole story is still questionable, enormously risky and definitive scary.
I keep watching but still don't buy.

[AsiaInsight]

Kinbasha's volume seems to be picking up today!

http://www.otcmarkets.com/stock/KNBA/quote

[JBKRooster]

Here is the reason there is no interest in KNBA (This is a quote from a recent article on the company:

"Kinbasha has a sizable amount of debt on its books, and a large percentage of this is considered in default according to US-GAAP.During the year the Company was able to reduce its total debt from $159.8 million at March 31, 2012 to $132.3 million as of March 31, 2013. Total debt was then further reduced in its most recently reported quarterly results to $122.5 million as of June 30, 2013. These are sizable figures, however it is important to note that in Japanese culture, companies typically carry much larger debt loads than in the United States and the Japanese government encourages lenders to work with companies in this regard.


For the past several years, Kinbasha has negotiated with its lenders and in many cases has obtained formal or informal forbearances and loan modifications that have allowed it to effectively extend the maturity of its debt through interest only and/or reduced principal payments. For example, in March 2013, the Company announced it had restructured a loan in the amount of $6 million, resulting in a $5.2 million gain."

US investors won't touch a company which is on the brink of bankrupcy by US standards....why should anyone take the risk when there are so many viable US investments out there?

Good Luck, All!

[Big Brother]

This is a big board caliber company, everything has been done with complete transparency and the utmost professionalism and it is more legit then 99.9% of the other crap on the OTC, yet gets ZERO interest at all from investors, I don't think I'll ever fully understand why that is.

[AsiaInsight]

Kinbasha Gaming International, Inc. Announces Financial Results for Fiscal Q1 2014

Company Reports Net Revenues of $18.7 Million and Fully Diluted EPS of $0.06 in the Quarter Ended June 30, 2013

HITACHI, JAPAN--(Marketwired - Aug 13, 2013) - Kinbasha Gaming International, Inc. (OTCQX: KNBA), owner and operator of retail pachinko gaming centers in Japan, has released its financial results for its fiscal first quarter ended June 30, 2013.

Summary of Fiscal Q1 2014 Financial Results

Net revenues decreased to $18.7 million in fiscal Q1 2014, compared to $23.9 million in fiscal Q1 2013.
Net income improved to $761,000 in fiscal Q1 2014, compared to a net loss of $1.9 million in fiscal Q1 2013.
Fully diluted earnings per share (EPS) improved to $0.06 in fiscal Q1 2014, compared to a loss of per share of $0.16 in fiscal Q1 2013.

Analysis of Fiscal Q1 2014 Financial Results

Kinbasha's functional currency is the yen, and accordingly its earnings and assets are denominated in yen. As a result, appreciation or depreciation in the value of the yen relative to the dollar would affect its financial results reported in dollars without giving effect to any underlying change in its business or results of operations. For fiscal Q1 2014, the yen compared to the dollar was materially weaker than for fiscal Q1 2013, as the exchange ratio increased by 23%. Accordingly, Kinbasha's results of its operations for fiscal Q1 2014 expressed in dollars appear materially weaker than when expressed in yen.

Net revenues decreased to $18.7 million for the fiscal first quarter ended June 30, 2013, from $23.9 million for the same period in 2012. The principal reason for this decrease was the change in the yen/dollar exchange rate. When expressed in yen, Kinbasha's revenues decreased less than 2% between these periods. In addition, Kinbasha sold three restaurants in July 2012, and thus had no revenues from these restaurants during fiscal Q1 2014.

Net income attributable to common shareholders improved to $761,000 for the quarter ended June 30, 2013 as compared to a net loss of $1.9 million in the same period of 2012. As a result, fully diluted EPS improved to $0.06 in the quarter ended June 30, 2013, compared to a loss per share of $0.16 in the quarter ended June 30, 2012.

The improvement to net income is generally attributed to enhanced market conditions, and the fact that in Q1 of fiscal 2013 the Company was still recovering from the March 2011 earthquake.

"We are pleased to report our financial results for fiscal Q1 2014," said Masatoshi Takahama, Chief Executive Officer of Kinbasha. "Despite slightly lower revenues due to the weaker yen, Kinbasha demonstrated the results of our continually streamlined operations by posting net income of $761,000, compared to a loss in the same quarter last year. As we continue to execute our strategic growth initiatives, we believe the decisions we have made will position Kinbasha to grow in our proven markets while also limiting expenses and reducing debt."

During the first quarter of fiscal 2014 the Company was able to reduce its total debt from $132.3 million at March 31, 2013 to $122.5 million as of June 30, 2013. As of June 30, 2013, the total debt included $100.2 million of principal and $22.3 million of accrued interest. In addition, debt in default decreased from $97.1 million at March 31, 2013 to $92.0 million at June 30, 2013. For the past several years, the Company has negotiated with its lenders and in many cases has obtained formal or informal forbearances and loan modifications that have allowed it to effectively extend the maturity of its debt through interest only and/or reduced principal payments.

Mr. Takahama concluded, "We believe the progress we have made in improving our financial metrics and continuing to negotiate deals with our banks will help us achieve our growth objectives. As the only pachinko company that is listed in the United States, Kinbasha has an advantage over our competition when it comes to building awareness and raising capital overseas. Going forward in fiscal 2014, Kinbasha's growth strategy is based on leveraging our existing brand and operational expertise to propel our expansion initiatives and to build long term shareholder value."


http://online.wsj.com/article/PR-CO-20130813-906760.html?mod=googlenews_wsj