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Permitted and licensed company list from November
https://www.ojk.go.id/id/berita-dan-kegiatan/publikasi/Pages/Penyelenggara-Fintech-Terdaftar-dan-Berizin-di-OJK-per-30-Oktober-2019.aspx
Koinworks one of, if not the biggest doesn't have their license yet, only permitted.
How about Akseleran, nope only permitted.
Understand yet?
no its not. if you read anything, you would know this is how it works. they can fully operate with a permit.
KPAY and how fast it can happen
Lets start with the story of Investree.
https://www.pressreader.com/malaysia/mint-asia-st/20160610/281870117712031
Established in October 2015
They got their p2p lending up and running and by May 2016 had disbursed 23 loans totaling Rp 6.8 billion ($486,200). This was before the OJK even set up the permitting process.
In June of 2106 Kejora Ventures funded them for an undisclosed amount. Kejora usually does around 2-3 million for first time funding.
By 9-30-16 they had lent out Rp 23.5 billion ($1,680,250). With zero defaults.
They got officially permitted on 5-31-17.
8-1-18 closed its series b funding round for $10 mil
By 8-1-18 Investree had disbursed Rp 1.04 trillion ($74,435,972.00). With zero defaults.
As of last disclosed numbers, they have disbursed Rp 3 trillion ($214,707,540.00). Not bad for 4 years in business. Their average rate of return on loans in around 16%.
They are currently setting up series c round of funding
My favorite part of the article "Before securing the funding commitment, Investree has been bootstrapping for almost a year, raising $500,000 for its initial stage development."
Bootstrapping, if that doesn't describe what weve been through, I don't know what does. Shows what can happen for KPAY. Even after 8 months Investree had only set up 23 loans. If KPAY runs this thing right, look at whats ahead. I've posted so many of these stories, they're all alike. Funding comes. It wont be a problem. We'll look back at the "awful" $3.5 mil in convertible notes and laugh. That could be wiped clean in the upcoming year. So many good things ahead.
If you waited this thing out congrats to you. You obviously have patience. It will take a little more patience, but this is where it all started today.
CFGN bid $.044
CFGN ask $.09
"We believe our access to United States lending institutions as well as being a public company in the US provides a key cost advantage over local competition using Indonesian financing sources."
So, maybe we finally figure out who FRS is?
Yeah ETRF just jumped to the front of the line. Citadel seems to have never ending shares. But, the $.05 are in sight.
OJK clamping down on illegal p2p lenders. This is going to benefit KPAY and other legally permitted lenders.
https://kr-asia.com/indonesias-ojk-blocks-297-illegal-p2p-lenders
https://www.idnfinancials.com/news/30541/ojk-illegal-pp-lenders-november
https://www.thejakartapost.com/news/2019/11/04/1369-illegal-p2p-lending-platforms-blocked-some-based-in-china-us.html
https://en.tempo.co/read/1200220/ojk-terminates-543-fintechs-p2p-lenders-operating-illegally
LOL. keep dreaming. you have no clue. anyone can get a license?
So in the last few months when the OJK has shut down over 1000 illegal p2p lenders, why didn't they just get licenses if its so easy?
I think this week is breaking a lot of haters hearts. You could see with the big volume uptick something was coming. It was only a matter of time.
Congrats to the few of us who have ridden it out.
First quarter 2020 sets the stage. I'm not expecting miracles in 3 months, but get it running, scale it up.
Indonesia population 263.99 million
number of p2p lenders : less than 150
KPAY p2p lender - GET USED TO IT! Might as well get permited in Singapore and Malaysia while were at it.
Hello again $.06's. It's been awhile
big spike before close to get my wish of a penny increase
So were going to get close to 4 mil in volume today, and the price has went up $.008
What would it take for a whole penny increase? Around 500 million in volume?
Seriously. The MMs just swapping shares does nothing.
If someone wants to buy 20,000 we can head back to the $.08's
Volume up last 2 days, a lot of new posters around :
Option A : pump job for next months unloading
Option B : somethings brewing
were heading to the $.05 for a bit. it would go even higher today if ETRF doesn't sell the whole house again
Speculating on Kpay funding through Orgenesis backers.
Consolidation of CDMO Entities and Strategic Funding As described in Note 10 to the financial statements as of November 30, 2018, in June 2018, the Company, Masthercell Global, and Great Point Partners, LLC ("Great Point"), and certain of Great Point's affiliates, entered into a series of definitive strategic agreements intended to finance, strengthen and expand Orgenesis' CDMO business. An initial cash payment of $11.8 million of the consideration was remitted in June 2018 by GPP-II ($1.5 million of the initial capital contributed to Masthercell Global was used to reimburse the investors for their fees and expenses incurred in conjunction with this transaction (net payment of $10.3 million)), with a follow up payment of $6.6 million to be made in each of years 2018 and 2019, or for an aggregate of $13.2 million, if certain conditions are met. Masthercell Global achieved the specified targets in 2018 and as such, Masthercell Global received the first payment of $6.6 million on January 16, 2019.
It would be a guess, but if Kpay is getting funding from anyone related to Orgenesis, I'd bet it's Great Point Partners. They set up release of funding when certain revenue thresholds were met. They just met another one about 10 days ago, so they opened up the Greece JV. They took a shot on Orgenesis, a company with accumulated loses of over $83 million. But Orgenesis's third quarter revenue was up 46% to $9.1 million. Maybe they look at the upcoming JV with Orgenesis, and the P2P permit as enough to take a shot on Kpay.
"That's when notes get Converted...Then sold...Then Investors"
Your quote, maybe you already forgot it
On October 29, 2018, the Company entered into a 12% convertible note for the principal amount of $118,000 with JSJ Investments, Inc, which matures on October 29, 2019,
The JSJ October 2018 note was fully converted on several dates in the second quarter of 2019,
Yep matures on october 29th, already converted in 2nd quarter
On October 16, 2018, the Company entered into a 12% convertible note with Power Up Lending for the principal amount of $43,000, convertible into shares of common stock of the Company, which matures on July 30, 2019
The Power Up October 2018 note was fully converted on April 24, 2019,
Yep matures on july 31st, already converted on april 24th. But keep worring about "matutity dates"
No shit. Those are the ones being converted after 180 days. Not yhe 6 month notes.
The Armada October 2018 note was fully converted on several dates in the second quarter of 2019,
The BHP October 2018 note was fully converted on several dates in the second quarter of 2019,
The Jefferson October 2018 note was fully converted on several dates in the second quarter of 2019
Any of these look like their making it the full 12 months to the "maturity date"?
What is Nov 14th?
Why are you worried about maturity dates?
That mmmm note is a receivable not a payable. Believe it or not we actually make money off that one.
Just go to page 66 & 67
6-28 jsj $118,000
7-8 ema $150,000
7-31 auctus $200,000
Are you only reading the top half of the 10q?
Last 10q as of 9-30-19 roughly 64.5 mil shares
Now around 85 mil
So in 2 and a half months 21 mil new shares
You had 2 issued in May, $300,000 and $82,500
You had 1 in June for $192,500
You want to guess what those 21 million shares were from?
It would be over 17 million shares if they converted at $.0321, which they didnt, it was less. Maybe the remaining principal was knocked down a little.
Also, it will be nice to see how many 25% penalties get paid for issuing new shares. Im sure the principal on a bunch of these notes changed again too.
Look at the 3 big ones issued in July. That gives you an idea of what were currently dealing with.
The one that was issued in June for $192,000 is probably what we were swallowing for the last few days.
If they converted at 40% of the lowest price in the last 20 day ($.0321?)
They were converting at $.01284 for over 14 million shares.
Great huh?
why do people focus on the maturity date for notes?
I've posted numerous times, and you can a have a look at the 10Q, these notes normally begin converting within 6 months of issue date. By the time the maturity date rolls in, they are more than likely fully converted.
If you wanted to focus on anything, start looking at the notes issued in July, that's probably whats hitting right now.
Level 2 right now:
On the ask:
CSTI 10,000 $.038
CDEL 10,000 $.0425
OTCX 10,000 $.09
NITE 153,733 $.094
NITE couldn't give shares away fast enough last week. Now their gonna hold strong at $.094?
Confident their getting permitted. He said early December they would get it. OJK does one update a month to their p2p list, sometimes twice a month. If they got the permit in late November, they'll be on Decembers upcoming list. If they officially got the permit in December, you may not see it until the January list.
I'm doing my best to stay updated with the OJK. They only respond to their twitter, and their website is horrible to work through. You actually have to leave it in Indonesian setting for current info. If you change it to English, you'll be viewing a version from 2017.
I don't think they were just lounging around in the OJK lobby taking photos of themselves as some kind of a PR stunt. I also don't care about Gabriels funding. Get the permit, start lending. If its ran successfully, funding will follow. It's going to be the best thing to happen to this company, getting put in the OJK sandbox. There will be full transparency with the OJK or they won't receive a license, and their permit will be revoked.
Who bought 500,000 shares in the aftermarket?
So who bought 460,000 shares at $.0321?
Must know something and was waiting for the MMs to drive the price down to his comfort level. Lol. Give me a break.
Maybe he just wanted to throw $15,000 out the window.
Are the market makers just selling these shares to each other? Who would buy that many shares?
And now ETRF only has 15,000 shares on the ask for $.10
What happened? Sell them with the other half million you sold earlier for $.038.
So Citadel dumps, dumps, dumps right along with ETRF. Now they sit there on the bid for 300,000 shares. LOL. Okay.
at 1:40 we were at 375,000 in volume.
now look at it. why did they wait half the day?
Its all ETRF. they are selling it all at any price. be lucky if it even holds the .03s
ETRF and NITE taking us to the depths of hell.