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oh yeah. take a look at the last 40 minutes. so there are still people willing to buy at $.04? Why?
That's about 1 million shares in 45 minutes
that had to be a massive dump. the volume jumped to 1.3 mil in a flash
The OJKs last 7 p2p announcement dates :
11-7 (Thursday)
10-8 (Tuesday)
8-13 (Tuesday)
7-23 (Tuesday)
6-14 (Friday)
5-15 (Wednesday)
4-11 (Thursday)
You'll find out there first. Modalku getting their license showed up on OJK in the 10-8 announcement. The earliest article I can find on the web that mentioned it was published 10-10. Modalku didn't even mention in their blog until 10-14. Their license is dated 9-30-19.
When the announcement comes out, it's regarding the previous month, so if Edwin says they expect to get registered in early December, don't know if that means we find out in this months announcement or January's. KFund was at the OJK around 11-24, 11-25. So hope we see their name in the December announcement.
Our p2p announcement. I'll say it comes this Friday 13th or Friday 27th.
Last years December announcements both came on Fridays.
Orgenesis just announced its JV is up and running in Greece.
https://www.hygeia.gr/en/press-release/partnership-agreement-between-hygeia-group-and-the-theracell-orgenesis-joint-venture-in-the-area-of-advanced-cell-and-gene-therapy/
Now what the hell does that have to do with anything you ask? Because this was mentioned on 2-14-19 in their 10Q as the "Greek JVA". It took them 10 months to get it up and running.
The JV with Kinerjapay was mentioned on 5-6-19. It's not surprising we haven't heard anything yet. My guess is, same time frame. We may not hear anything until March regarding this.
I think it all has the do with the funding MaSThercell Global gets from Great Point Partners. They got an initial 11.8 Mil up front, and then had to meet revenue and EBITDA targets to receive more funding. The total funding was 25 mil. The JV with Kinerjapay required 5 mil within 3 years from each company.
Don't know if they'll go in order of the 10Q, but the "Panama JVA" is next. From 3-12-19. Then the "Singapore JVA" which is Kinerjapay.
Oh yeah, and don't forget the clause that almost every note has for a 25% penalty on remaining principal for issuing new shares.
Example conversion note:
Say Edwin takes a note for $200,000 with a share price of $.05
That's 4,000,000 shares needed to convert note at time of sale.
Say the note requires 10x the number of shares held in reserve, so he needs to have 40,000,000 shares in reserve until the note gets converted.
Almost every note you read in the 10K's take the alternate conversion method. Say 40% of the lowest traded share price within 20 days of conversion. So instead of converting at $.05, now they can convert at $.02. Now they have 10,000,000 shares instead of the original 4,000,000.
So like I asked before, how long does an extra billion shares last?
I'll just repost my post from last week:
A lot of the conversion notes require that Kpay carry a reserve number of shares. The number of shares due for full conversion of the note X3, X5, etc.
Example : The big note from Labrys that ballooned to $445,752.
So lets take that note and say it was issued today.
$445,752 buys 13,207,466 shares at $.03375 (45% of todays price of $.075)
13,207,466 * 3 = 39,622,398 shares needed in reserve.
Labyrs was kind and only required 3X in reserve. But I can find you a bunch that require 4X, 5X, 8X, 10X. Some with conversions at 40% of lowest market price 20 days before conversion.
Now, how about Granite Global from 9-13?
$395,000 requires 10X in reserve shares. Converts at 60% of low price ($.045). That's 8,777,777 shares to convert and 87,777,777 shares to be held in reserve.
So the way Edwin issues these notes like he's handing out candy on Halloween, how far does a billion extra shares get you? You're handing out shares to convert (as share price drops, this # increases), shrinking the reserve.
Also, almost every note has a penalty for issuing new shares. Most are 25% of outstanding principal. Isn't that great?
Citadel last man standing, and were going to the $.09's
23,000 left - who wants them?
don't know but no ones jumped Citadel, and its been 45 minutes and they're not budging off $.074 yet
4 years $773,500,000 in loans
https://www.p2p-banking.com/2019/11/
What did they start with? Oh yeah here's an article from 3 years ago, where they landed, get ready for it... $1.2 million in funding!
https://www.dealstreetasia.com/stories/indonesia-p2p-lending-platform-modalku-raises-1-2m-alpha-jwc-others-38013/
revenue, revenue, revenue... Are you ready?
8 months. $3,543,500 in loans.
https://e27.co/online-p2p-lending-komunal-snags-seed-funding-from-east-ventures-seeking-to-bridge-funding-gap-in-msmes-20191203/
Got registered in February, started lending in March, in 8 months facilitated over $3 mil in loans.
They just inked their seed money deal yesterday for an undisclosed amount. If their not disclosing it, you can guess it's less than $5 mil, probably closer to 1-3.
revenue, revenue, revenue - IT's COMING!
Looking at Level 2 right now.
Citadel has 25,000 on the ask for $.074
After them is Knight Securities with 153,733 at $.094
Leaving the bid with Citadel at $.0655.
Did we clear out a lot of convertibles or what? I'm sure Citadel has more to dump than just that 25k, but that's a much nicer looking price after them.
AFPI projects 200% increase in p2p lending in 2020
https://finansial.bisnis.com/read/20191129/89/1175853/kinerja-fintech-p2p-diproyeksi-naik-200-persen
KFund personality/aptitude test
http://www.berandaku.com/
You have to download it. Its in Excel format. 60 questions to find out if your the kind of person they're looking for.
"Below there are 60 numbers. Each number has two opposite statements choose one of the statements that best suit you by typing the number 1 in the column that has been provided (field fields) you should choose the dominant one as well as fill all numbers"
KFund Academy
KFund Academy has been opened up at Tunas Bangsa Jakarta, which is The National Information Technology Academy. Students need to complete an internship as a requirement of graduating from the university. Kfund will collaborate with the university on these internships.
http://www.tunasbangsajakarta.ac.id/akademi-ti-tunas-bangsa-x-kfund/
https://www.instagram.com/p/B5ZYc-moQk7/
Great idea!
What if I told you KPay was going to partner with a local coffee company to offer guests at a hotel "fresh coffee served in biodegradable coffee capsules"?
How much money is this going to generate? Is this a good use of funds?
https://www.comunicaffe.com/investree-announces-2nd-round-green-financing-partnership-with-java-mountain-coffee/
Weird how these companies see the benefit in doing things like this.
Or like this : https://kinerjapay.co.id/en/blog/2019/12/02/kmall-become-a-sponsor-of-spartacus-in-victory-plus-school/
Maybe they know their community better than we do?
Worst case scenario, they have to start a lot smaller than they planned. You only need $200,000 to start the p2p. They may have to "grass-roots" it as far as marketing goes. But if investors see your capable of turning any kind of a profit off it, they'll want to get a piece of the pie.
The share holders are going to have to wait until the first quarter 10Q next year to see anything from the p2p. That's a long wait.
It would be great if any kind of additional funding actually shows up. At this point I wouldn't invest based solely on that happening. I've been in long before there was ever a "Wahana" or a "Gabriel". Just the fact they're getting into p2p finally is what I've been waiting for.
2020 should be a good year. They need revenue badly. PT KSG is the biggest source of revenue they're going to have. All the focus should be on scaling it up.
Long KPAY
Sounds like Edwin's working hard. Super!
Orgenesis 10Q from 11-7-19
KinerjaPay Corp.
On May 6, 2019 (the "Effective Date"), the Company and KinerjaPay Corp., a Delaware corporation, entered into a Joint Venture Agreement (the "Singapore JVA") pursuant to which the parties will collaborate in the clinical development and commercialization of the Company's products in Singapore and the introduction of KinerjaPay products to be offered for sale by the Company globally outside Singapore. The parties intend to pursue the joint venture through a newly established company (hereinafter the "Singapore JV Entity"), which the Company by itself, or together with a designee, will hold a 51% participating interest therein, with the remaining 49% participating interest being held by KinerjaPay Corp.
Under the Singapore JVA, each party shall endeavor to provide the Singapore JV Entity up to $5 million within three (3) years of the Singapore JVA. Funding may be provided in part in the form of convertible loans, in-kind contributions, including intellectual property, and services related to advancement of the Singapore JV Entity. The Company's in-kind contribution may be in the form of 250,000 shares of the Company's restricted stock, issuable to KinerjaPay or KinerjaPay designated third party (instead of to the Singapore JV Entity) on the Effective Date and to be held in escrow by the Company to be released to KinerjaPay in return for services to be provided by KinerjaPay or KinerjaPay designated third party as will be mutually agreed between the parties.
Under the Singapore JVA, the Company can require KinerjaPay to sell to the Company its participating interest in the Singapore JV Entity in consideration for the issuance of the Company's common stock based on an agreed upon formula for determining Singapore JV Entity valuation.
Apart from the above, there was no activity in the Singapore JV Entity.
At least their still mentioned.
Ugly math.
A lot of the conversion notes require that Kpay carry a reserve number of shares. The number of shares due for full conversion of the note X3, X5, etc.
Example : The big note from Labrys that ballooned to $445,752.
So lets take that note and say it was issued today.
$445,752 buys 13,207,466 shares at $.03375 (45% of todays price of $.075)
13,207,466 * 3 = 39,622,398 shares needed in reserve.
Labyrs was kind and only required 3X in reserve. But I can find you a bunch that require 4X, 5X, 8X, 10X. Some with conversions at 40% of lowest market price 20 days before conversion.
Now, how about Granite Global from 9-13?
$395,000 requires 10X in reserve shares. Converts at 60% of low price ($.045). That's 8,777,777 shares to convert and 87,777,777 shares to be held in reserve.
So the way Edwin issues these notes like he's handing out candy on Halloween, how far does a billion extra shares get you? You're handing out shares to convert (as share price drops, this # increases), shrinking the reserve.
Also, almost every note has a penalty for issuing new shares. Most are 25% of outstanding principal. Isn't that great?
So how will the market makers trick people into buying anymore shares? The PRs have no effect.
My favorite line from the 14C "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."
Sounds like the funding is all in Edwin's head.
Have fun converting your notes for shares no one is buying.
PT KSG P2P vs Competition
There are officially 13 licensed p2p lenders in Indonesia. Danamas, Investree, Amartha, Dompet Kilat, KIMO, Toko Modal, and UangTeman
got their license in August. Modalku (the Indonesian arm of Funding Societies), KTA Kilat (Pendanaan), Kredit Pintar, Maucash, Finmas (Sinarmas and Oriente-backed fintech firm) and KlikACC got their license in October.
There are 127 registered with no license yet. Seems to take about 2 years in the OJK sandbox. This is where PT KSG will be.
https://www.afpi.or.id/listfintech : this is a link to the AFPI page with all the registered and licensed p2p companies. They do a good job of updating it. Last update was 11-15.
Lets look at the funding it took to get some of the bigger companies off the ground.
1. Koinworks - 2 rounds of funding. $16.5 mil & $12 mil. Got registered on 5-4-17. Still not licensed.
Here is a good article on Koinworks: https://www.techinasia.com/indonesian-p2p-lender-koinworks-profitable-disbursed-140m-loans
That's right Koinworks isn't profitable yet, but they are considered to be one of the best. Everyone loves to bitch about KPAY. Here is your "big dog" that can't turn a profit on $140 mil in loans. This is who were supposed to be worried about?
2. Investree - Seed money $500,000. Series A funding $2-5 mil. Series B funding $10 mil. One of the first to receive its license.
"The company upgraded its mobile applications for both borrowers and lenders digitally to streamline its processes, as well as for Shariah compliant products and mobile apps. As a result, it achieved a total net revenue of $112,000 in 2016, with an estimated market share of 60%. About 95% of Investree’s loans were extended to small and medium enterprises (SMEs) for working capital purposes."
So "the great" Investree was turning revenue of $112,000 just 3 years ago? But hey, I'm sure people were bagging on them at that point too. What are they worth now?
3. Akseleran - Seed money $1.8 mil. Series A $8.5 mil. Still registered.
2018 the plan was to lend out $13.4 mil. Most sites will list their 2018 revenue around $3 mil. Their so great they wont publish their actual revenue. They say they have 20,000 lenders, so with that math 20,000 divided by 13.4 mil, each lender lent out $670. Is that good?
The list goes on and on. Maybe Kpay gets some money, maybe they don't. But if they get even a little, do these 3 companies look hard to compete with?
After hours. wonderful.
Wheres the manipulation? All its done is gone down in value.
The Company has been informed by Gabriel Capital Ltd., through Mr. Agoeng Noegroho its Chief Investment Officer, that its HSBC bank guarantee should issue to China Construction Bank, Jakarta (CCB) in favor of PT Kinerja Pay Indonesia, a wholly owned subsidiary, within the next week. The delay has been due to administratively adjusting the amount of the initial HSBC guarantee dollar amount to match the initial credit facility provided by China Construction Bank, Jakarta. Gabriel has said this process has been completed.
Its all in the wording isn't it?
"Should" instead of "will"
If this was issued last Friday, that means the process was "complete" on Gabriels end, on what Thursday? So its taken minimum 7 days for CCBI to accept what HSBC sent over?
How is the bid even higher than the price?
Anyone planning on sending their kids to college. Just put 100 shares of Kpay into a 529 plan, and away they go. Only thing you'll have to do is pick the Ivy League school.
Don't worry about any of this. Kinerjapay won "Indonesia Trusted of Quality Award in 2018". So we should be all set.
Good news PRs usually hit at 8:30
Stupid-ass PRs usually hit around 11:30-12:00
You can see where this is going.
Prepare yourself for words "almost", "expect", "period of time", "should", "planning", "anticipates".
were just moments away from the $.06's
Last Fridays PR came at 8:50 AM. So guess we'll have to pray the funding appears between now and then. I don't think we make it through tomorrow without an update.
I'm kind of shocked at the volume today. 125,000 on the bid right now. Who is buying these shares?
Maybe they're planning on getting a big turkey and have Edwin jump out of it throwing money everywhere on Thanksgiving.
Check that. Looks like someone stopped in to buy 100,000 shares as quiet as they could.
What the hell is with the string of buys for 4,999 shares. Also the selling before that, 6 in a row sold 4,999 shares.
Many? There are 13.
Many registered in the OJK sandbox stage, but 13 total licensed including the 6 from last month.
Maybe Kpay gets into E-Sports.
Rusdi Budiman : HR&GA Manager at PT Kinerjapay Indonesia
Henful Yep : Chief Technology Officer
Jan Sisca Simon : Administrative Staff
All 3 have Michael Wijaya CMO of EVOS E-Sports in their connections. Henful also has a connection to Hartman Harris Co-Founder of EVOS.
https://www.evosesports.com/
From Jakarta, #1 team in southeast Asia
Why the hell not?
So the KFUND software was being deployed late last year? Where was I? This was from v5.0.3 rev281
New in KPAY 5.0.3
PerformancePay v5.0.3 rev 285:
- Adding P2P Features, Borrowing Unsecured Business Credit from KFUND, for KPAY Agents
- Adding a Redeem Voucher Menu
New in KPAY 5.0.1
PerformancePay v5.0.1 rev 281:
- Adding P2P Features, Loan for Unsecured Business Credit from KFUND, for KPAY Agents
- Adding a Redeem Voucher Menu
Their on v5.0.3 rev327 now. I cant find much info on the revs between 281-324. There was about 15 revs total. But cant find old descriptions.
For rev327 (10-18-19): KinerjaPay v5.0.3 rev 327
- Penambahan Fitur Transfer Dana (Masa Uji Coba Terbatas)
Translated "KinerjaPay v 5.0.3 Rev 327
-Added Fund Transfer feature (limited trial period)
The only other convertible we should see this month would be on the 29th, issued on 5-29 for $115,000.
And if you can believe it, we may only have 1 convertible in all of December on the 13th, issued on 6-13 for $192,500.
You can look at it like this, the 3 to 4 day window for the final swift transfer, based off Fridays PR, is tomorrow or Thursday.
So if we hear anything but "The funds have been delivered to our account"
You know where the sell button is on your screen