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1/3 of the business disappeared
Kmall 3 days now, maybe more, I just noticed it on the 1st.
Would you say this is normal? Weren't they just celebrating how good the oral sanitizer was selling?
Probably hard for your customers to buy product when the site disappears.
So were down to a non operating p2p business, and prepaid mobile cards.
Wonder if Edwin was able to unload all his shares yet?
"We are starting 2021 hitting on all cylinders as all of our other operations are recovering rapidly. We expect this to be a good year for KPAY shareholders."
Like a fine tuned engine.
Where is KMALL?
I want to spend some SAMKOIN on oral sanitizer.
I think you're avoiding reality.
Good luck.
Another footnote on Crypto in Indonesia
Why do you think Edwin had to abandon KCoin?
Maybe because its banned as a form of payment?
https://www.reuters.com/article/us-markets-bitcoin-indonesia/indonesia-bans-fintech-firms-in-payments-from-using-cryptocurrencies-idUSKBN1E11DB
Good luck.
SAM Coin also has potential to go to $0. Like where it is now.
SAM subscribers go spend at KMALL
Good partnership. Heres some SamCoin, go spend at KMALL. While youre at it find our coal ship.
Kmall still down.
How are we going to sell that second order of oral sanitizer.
Reposting:
John23V Thursday, 02/18/21 07:23:32 PM
Re: None 0
Post #
10299
of 10413
KPAY done by end of month?
Let's start with KFUND:
https://kfund.id/about_us
1.The CBO walked at the end of December.
2.Windy Johan letter of resignation 4/27/20
3.The Lending Manager walked in June
4.The Customer Service Supervisor left in October
5.The HCGA manager left in October
6.The Product Development Lead left in September
7.The Finance and Accounting Supervisor left in October
7.The Full Stack Developer and the Sales Portfolio & Business Development Executive both have second jobs at PT Aeon
#1 & #3 were real bad. They had to have these guys to get the lending permit. The OJK required a certain amount of experience in the lending field as part of the requirement.
The last response from KFUND to a review in the PlayStore was 10-12-20
They never issued a new version of KFUND
They sold the building in March.
Onto KPAY itself:
Look at the newest review on the KPAY app in the PlayStore. From 5-28-20: (Translated)
"PAY EMPLOYEES 'SALARY
May 28, 2020
1
Comment on Hide with KPAY, afraid of embarrassment. Even though the fact is that the former employee's salary and layoff allowance (NOT BECAUSE OF KORONA) have not been paid for almost half a year. Also contacted, the PT turned away as if ignorance was not his concern. there is not a hint of guilt. disabled application"
Did you notice www.kinerjapay.co.id doesn't exist anymore?
KMALL
1.The Finance and Accounting Supervisor left January 2021
My personal opinion is Edwin couldn't write notes anymore because the brokers couldn't sell anymore shares. This probably happened sometime 2nd to 3rd quarter last year. Employees began to leave, especially if they weren't being paid. This coal thing could either be real, or it could be Edwin trying to unload his personal shares before shutting the doors.
The end must be near. Kmall.id is down.
Shocker March 1st and Kmall is down. Wonder whats happening.
Wouldn't that be something if I nailed the day of them closing their doors?
Here's what's in Port Muara Berau Anchorage:
Sea Rose 45,700
Ocean Phoenix 56,208
New Leonidas 170,578
Glovis Desire 82,108
Hai Ji 73,601
Kristinita 58,470
Santarli 73,976
Evans 53,507
Sami 56,060
Viet Thuan 30 03 30,587
Soho Trader 63,473
Akij Pearl 56,045
Vinca 52,447
Turicum 58,097
Vega 55,733
Lucky Harmony 76,629
Panamax Breeze 76,343
Xing Hong 75,619
Yarrawonga 82,624
Peace Ark 93,249
Expected Arrivals:
Mackenzie 63,204
Ocean Eagle 74,082
That's every ship from 2-20-2021 until now.
If you follow Edwin and his incoherent press release, "5 flat bottom barges of 7,000 tons per load". Who knows what he means. Typically barges would be bringing the coal out to a larger ship in the port. It gets loaded from the barges on to the ship.
If he is talking about shipping 70,000 MT in one shot, look at the ships DWT above. Could be any of the 6 around the 70,000 DWT.
The loading must begin between 2/20 and 2/28.
Good luck.
If there is no PR by Monday, just give up. I'm doing my best to post everything I find about this company.
If you think my previous post about them shutting down soon is a joke, good luck to you.
Let me know anyone who has looked into this company more than me.
If you need to see for yourself, id.linkedin. its the only way youll get any real info on this company.
People reading charts on this are hilarious. Keep it up.
8,473 DWT Ship in port
https://www.marinetraffic.com/en/data/?asset_type=vessels&columns=reported_eta:desc,flag,shipname,photo,recognized_next_port,reported_destination,current_port,imo,ship_type,show_on_live_map,time_of_latest_position,lat_of_latest_position,lon_of_latest_position,notes¤t_port_in|begins|MUARA%20BERAU%20ANCH|current_port_in=22169
Vessel: Spring Shine
This is what you would be looking for.
It isn't a flat bottom barge. But if he's planning on only shipping 7,000 tons per ship, this is all that makes sense. There would be more of these lined up, ready to go.
"We have prepared the groundworks for the loading to start on 20th February, which will mark our first delivery of Coal to China."
https://www.marinetraffic.com/en/data/?asset_type=vessels&columns=reported_eta:desc,flag,shipname,photo,recognized_next_port,reported_destination,current_port,imo,ship_type,show_on_live_map,time_of_latest_position,lat_of_latest_position,lon_of_latest_position,notes¤t_port_in|begins|MUARA%20BERAU%20ANCH|current_port_in=22169
Let me know if you see a "flat bottom barge" with a capacity around 7,000 tons in port being loaded.
KPAY done by end of month?
Let's start with KFUND:
https://kfund.id/about_us
1.The CBO walked at the end of December.
2.Windy Johan letter of resignation 4/27/20
3.The Lending Manager walked in June
4.The Customer Service Supervisor left in October
5.The HCGA manager left in October
6.The Product Development Lead left in September
7.The Finance and Accounting Supervisor left in October
7.The Full Stack Developer and the Sales Portfolio & Business Development Executive both have second jobs at PT Aeon
#1 & #3 were real bad. They had to have these guys to get the lending permit. The OJK required a certain amount of experience in the lending field as part of the requirement.
The last response from KFUND to a review in the PlayStore was 10-12-20
They never issued a new version of KFUND
They sold the building in March.
Onto KPAY itself:
Look at the newest review on the KPAY app in the PlayStore. From 5-28-20: (Translated)
"PAY EMPLOYEES 'SALARY
May 28, 2020
1
Comment on Hide with KPAY, afraid of embarrassment. Even though the fact is that the former employee's salary and layoff allowance (NOT BECAUSE OF KORONA) have not been paid for almost half a year. Also contacted, the PT turned away as if ignorance was not his concern. there is not a hint of guilt. disabled application"
Did you notice www.kinerjapay.co.id doesn't exist anymore?
KMALL
1.The Finance and Accounting Supervisor left January 2021
My personal opinion is Edwin couldn't write notes anymore because the brokers couldn't sell anymore shares. This probably happened sometime 2nd to 3rd quarter last year. Employees began to leave, especially if they weren't being paid. This coal thing could either be real, or it could be Edwin trying to unload his personal shares before shutting the doors.
The only reason this hasn't returned to $.0008, is Stocktwits.
I read the KPAY page everyday for a good laugh. Yesterday, some guy posted about the partnership with Uber.
4 more days until our ship comes in.
All aboard the S.S. Edwin!
Can't wait for these flat bottom barges to go across the South China Sea.
Another note on the LRDG shares
There is the clause in the Series G that says "The Series G Preferred has, in addition to the above conversion rights, a beneficial ownership limitation provision which states, in substance, that in no event may a holder of shares of Series G Preferred convert into common stock a number of Series G Preferred if, as a result of such conversion, the holder would own in excess of 4.99% of the Company’s then outstanding shares of common stock."
So convert 50 at a time from May 2020 until now and sell it. You would have made over $3mil averaging out.
COVI-GUARD and how I found KPAY $3,720,000.
Product: https://kmall.id/covi-guard-oral-sanitizer
Manufacturer: https://www.oralshields.com/
The article: https://finance.yahoo.com/news/nutralife-biosciences-inc-finalizes-product-130000220.html
The above article was published on December 18th, 2020. KPAY bought all 25,000 units, and the second order was already in for the other 87,500. Why not mention KPAY then as the buyer? Why wait until a PR on February 11th? The PR on the 11th made it sound like it was such a big sales success, KPAY reordered more. When this article points out the second batch was already ordered in December. Not relevant to this post, just asking.
Anyway, guess who formed a joint-venture with Nutralife on 6-18-2020?
Answer: 27Health
Who is 27Health a subsidiary of?
Answer: Lord Global Corp (LRDG)
From KPAYs 10k:
"On September 23, 2019 the Company entered into a convertible note receivable with Bigfoot Project Investments, Inc., n/k/a Lord Global Corporation (“LRDG”) in the principal amount of $20,000, with a maturity date of March 23, 2020. The note bears interest at 10%, which increases to 22% upon an event of default. In certain events of default as set forth in the note, the outstanding principal balance increases by 50%. During the first 180 days the convertible note receivable is in effect, the borrower may redeem the note at amounts ranging from 120% to 145% of the principal and accrued interest balance, based on the redemption date’s passage of time from the date of issuance of the debenture. The note is convertible beginning on the date 180 days following the issuance date, at a variable conversion price of 50% of the lowest trading price of LRDG’s common stock over the thirty days prior to the conversion date."
From LRDG 10Q:
"NOTE 7 – CONVERTIBLE DEBT
On September 23, 2019, the Company entered into a convertible promissory note with KinerjaPay Corp. in the principal amount of $20,000 (the “KPAY Note”), which had a maturity date of March 23, 2020 and was in default as of April 30, 2020 (subject to maximum default interest rate allowed by law plus penalties). The KPAY Note bears an annual interest rate of 10% per year payable on maturity date in cash or shares of common stock at the Company’s option (subject to certain conditions), and is convertible into shares of common stock at the conversion rate equal to 50% multiplied by the Market Price, as defined in the KPAY Note, subject to penalties in the event of default. (see Note 8 – Subsequent Events, for details of the Settlement Agreement between the Company and KinerjaPay Corp. pursuant to which the KPAY Note including principal, interest and all default penalties were satisfied in full in consideration for the issuance of 50,000 shares of common stock and 1,500 shares of newly authorized Series G Convertible Preferred Stock)."
This note went into default. Look at what KPAY has, 50,000 shares common stock and 1,500 series G.
From LRDG 10Q:
"During May 2020, in connection with the execution of a Settlement Agreement between the Company and KinerjaPay Corp., an unaffiliated third party (“KPAY”), the Company issued to KPAY 50,000 shares of common stock and 1,500 shares of Series G Convertible Preferred Stock (“Series G Preferred”), each of which is convertible into 1,000 shares of common stock. Pursuant to the Settlement Agreement, the 50,000 shares of common stock and 1,500 shares of Series G Preferred were issued in exchange for full consideration and satisfaction of payment of KPAY’s convertible note balance outstanding principal, accrued unpaid interest, and penalties, collectively, as of the date of conversion. The outstanding balance of the convertible promissory note prior to conversion including unpaid interest and penalties was approximately $50,000."
From LRDG 10Q:
"Series G Convertible Preferred Stock
During the nine months ended April 30, 2020, the Company authorized 60,000 shares of Series G Convertible Preferred Stock (“Series G Preferred”) pursuant to a Series G Certificate of Designation.
The Series G Preferred Convertible Stock have, among other rights and privileges, the right to convert the shares of Series G Preferred into 1,000 shares of common stock.
The Series G Preferred has, in addition to the above conversion rights, a beneficial ownership limitation provision which states, in substance, that in no event may a holder of shares of Series G Preferred convert into common stock a number of Series G Preferred if, as a result of such conversion, the holder would own in excess of 4.99% of the Company’s then outstanding shares of common stock.
During the nine months ended April 30, 2020, on March 25, 2020, the Company issued 550 shares of Series G convertible preferred stock (“Series G Preferred”) to CNLT, LLC in exchange for approximately $330,000 cash consideration (see Note 1 and Note 4). None of these shares of Series G Preferred were converted into common stock as of April 30, 2020 or as of the date of this Report. See Note 8-Subsequent Events with respect to the issuance in May 2020 of 1,500 additional shares of Series G Preferred to an unrelated third party as part of a Settlement Agreement."
Even in the above example with CNLT LLC, they gave $330,000 for 550 shares of Series G ($600 a share). Converted to common shares they would get 550,000 shares. They could sell those today for over $1mil.
Series G 1,500x1000= 1,500,000 common shares. Plus the 50,000 equals 1,550,000 shares.
LRDG stock:https://finance.yahoo.com/quote/LRDG/ ($2.40)
1,550,000 x $2.40 = $3,720,000
LRDG has delayed their 10K. This is info is from their last 10Q filed on 6-22-2020.
LRDG did a 100,000:1 reverse split on 1/30/2020. This settlement was well after that in May.
So where is this money? Better yet why wasn't it converted and sold in August when the share price was $11?
Why are we selling oral sanitizer, when we should have converted and sold all the LRDG stock and got KFUND running?
Why is Edwin filing this 8K?:
https://www.otcmarkets.com/filing/html?id=14668770&guid=JSZKUakD_rYi_yh
"The purpose of this Form 8-K, as referenced in the Explanatory Note above, is to summarize the Company’s operations in the United States, as follows: (i) the Company only makes investments, whether in the form of convertible note or convertible preferred stock transactions, in select U.S. public companies with whom it has a strategic relations to market their products and services in SE Asia (the “U.S. Strategic Partners”); (ii) the Company utilizes cash generated from its investments in U.S. Strategic Partners to make additional equity and debt investments either in the form of convertible preferred stock or convertible notes. The proceeds generated from the conversion of the convertible preferred stock or convertible notes from U.S. Strategic Partners is used almost exclusively for reinvestment in existing U.S. Strategic Partners or new public companies with whom the company is negotiating distribution and marketing agreements for SE Asia and, to a far lesser extent, to advance funds to the Company in Indonesia for its professional fees, such as audit and legal expenses, or other administrative business expenses."
Watch for KPAYs 10K. This is the first info you want to look for. Whether he converted and sold these shares, and where the money went (professional fees, admin fees).
LRDG last 10Q: https://www.streetinsider.com/SEC+Filings/Form++10-Q+++++++Lord+Global+Corp++++++++++For%3A+Apr+30/17032263.html
You want to answer my question from awhile ago.
He showed everyone the first contract. Signed by both parties. With a price of $51.50 a MT. Look at pg 3 of the contract. Failure to deliver by 12-29-20 will be deemed a breach of contract.
Next press release he states a price of $30 a MT.
What happend to the first signed contract?
Your answer to whats happening with KPAY.
The wonderful "brokers" who bought all of Edwin's converted shares in 2020 are being very kind right now.
2018 converted shares = 10 mil
2019 converted shares = 81 mil
2020 converted shares = ???
2020 was a banner year for Edwin and his note writing. I'm sure you could use a multiplier of 20x vs 2019.
No one ever wants to answer the question "Who bought all the converted shares?" It was easily over a billion shares last year. EASILY! The total volume for 2020 was 5,529,771,700. If that was from retailers day trading, at some point the price would of had to gone up.
There was a stretch last year from 4/9 to 4/29 where the volume was 954,838,900 and the shares price declined every day in a row from $.0019 to $.0004. This was the last of the notes we knew about from the 2019 10Qs. The share price had never been this low, so there was no one selling their shares for a profit here.
So notes got converted and in a 20 day stretch someone bought close to a billion shares. Why????
Let the pumpers do their thing. Just don't be last one out.
These shares haven't disappeared, "they're" just being nice.
Stocktwits will be the best thing to happen to Kpay. Read some of the posts and these are the new bag holders...I mean investors.
I still have my shares, so do whatever you want.
One person thinks kpay is receiving a coal shipment.
One person thinks theyre still making 9mil profit.
One person thinks kpay invested in emerging US tech companies.
Another thinks we wont ever see these prices again.
Someone said this is a great long term investment. (Ive been in since 2018, good to know)
One guy says "it looks like shit, but i bought some anyway."
Someone bought 177,000 shares with all his money.
So were forming a solid base of investors. These people have went to PR Newswire, and read the last 2 years of press releases and determined that this one, the coal PR is real.
Imagine if you looked at the last 10K and saw:
2018 net loss ($8,393,660)
2019 net loss ($19,843,947)
The realize that was all turned into shares by Edwin. Who bought all those shares? When do they reappear?
It's incredible that we have brokers stepping in to "protect" the little guy from investing in GameStop, AMC, etc. But this shit goes on.
So Pump It Up!
$2,372,945 for???
On January 15, 2019, the 200,000 Series D Preferred Shares were issued to the shareholders of FRS Lending, Inc., a Delaware corporation (“FRS”) in consideration for the acquisition by the Company of 100% of the capital stock of FRS, which shall operate on behalf of and provide the Company with services related to the Company’s lending and micro-lending activities and related lending services in the U.S., Indonesia and internationally, which is a newly developing division that the Corporation is planning to devote resources to grow its operations. The fair value of the consideration was calculated at $2,372,945, based on 10% of the fully diluted common shares of the Company as of the date of issuance. FRS did not have any significant tangible assets or liabilities as of the date of acquisition. The agreement also includes an employment agreement with a three-year term. The consideration issued in the acquisition has been recognized as consideration related to the employment agreement and will be amortized over the three-year term of the employment agreement. The current portion is included in prepaid expense and the long term portion in other assets, on the accompanying condensed consolidated balance sheet. The amortization expense for the three and nine months ended September 30, 2019 was $197,745 and $540,490, respectively
Let me know when you figure out who FRS is.
A penny = Reverse Split
1000 to 1 gets it to $10
Then Edwin can go back to what he does best...Writing convertibles
He will thank you from the bottom of his heart.
Edwin's coal loading math:
His goal: 2,000,000 MT this year
The normal geared ship would be 70,000 DWT
He would need 28 shipments minimum
The loading rate at the port is 8,000 MT a day (weather permitting)
Each ship takes a minimum 8 days to load (probably 9). This is just the loading phase. Takes time to get into port, etc.
Just loading time alone would be 224 days minimum (probably 252 days). Based on one ship at a time. Which is probably why he originally stated they were going to do biweekly shipments. Each ship is going to take over a week in port.
Now you may say "He'll just schedule more ships in port at the same time"
Ok...Because he's a logistics expert right? After all, after almost 2 months we have an export license don't we?
He's now wasted all of January. Let's say he starts shipping Feb 1 (yeah right). That leaves 334 days. Good luck.
From $4,120,000 to $2,100,000
Had a signed contract for USD $51.5MT. No one bothers to ask why this contract wasn't executed?
Have a look:
https://www.prnewswire.com/news-releases/kinerjapay-signed-indonesian-coal-contract-worth-103-million-per-year-in-revenue-with-china-construction-investment-group-ningbo-trading-301191896.html
Now were shipping for USD $30MT.
Have a look:
https://www.prnewswire.com/news-releases/kinerjapay-scheduled-its-first-coal-shipment-from-east-kalimantan-starting-early-february-301212385.html
Edwin says he's still going to do 2,000,000 MT, but also states in the 2nd PR "The Company Expects to See More Coal Shipments throughout the Year. Estimated Operating Profits Still Forecasted in Excess of US$10 million from the Contract(s) in 2021"
The original profit margin of $9.8mil was based off USD $51.5. So he's now going to double the coal shipments to keep up with his $10 mil profit forecast.
He signed the contract on December 2nd. In the last month in a half, he still didn't get the export license taken care of.
Hello? Anyone paying attention?
Please don't buy this POS.
Really. I'm trying to help anyone new here.
Been down this road now about 50 times.
Read the contract for yourself:
Pg.3 "Failure by the seller to deliver the goods latest by December 29th, 2020 shall be deemed as breech of contract"
Not to mention a "signed contract" with a stated price of 51.50 a MT. Now were renegotiating price down to 30?
The contract also states the load rate on Pg.9 at 8,000 MT per day. 70,000 DWT ship is going to take 8-9 days to load. The trip to Fangcheng is about 8 days. Stupid ass doesn't have an export license yet?
It's only been since DECEMBER 2ND! You haven't got a license yet?
What happend to the contract?
Contract stated 12-29 as deadline or breach of contract.
Now were out to Feb 28th as the deadline.
Lol. What a joke.
Ship is passing through Phillipines.
If it's going to Fangcheng, should be able to pick it up in their arrivals pretty soon.
https://www.marinetraffic.com/en/ais/home/shipid:6280865/zoom:10
I checked all the upcoming arrivals and vessels in port at Muara Berau Anchorage. This was still 1 of 2 ships that departed from Fangcheng. The other smaller ship "Moonbeam" is still in port at Muara Berau. There are other ships from China, but from different ports.
Would arrive in Fangcheng around the 22nd.
One ship out of port this morning:
https://www.marinetraffic.com/en/ais/details/ships/shipid:6280865/mmsi:636019972/imo:9863091/vessel:KIRSTEN_OLDENDORFF
Watch and see if it updates it AIS Destination by tomorrow. If it shows Fangcheng, who knows, maybe it's ours.
https://www.vesselfinder.com/vessels/KIRSTEN-OLDENDORFF-IMO-9863091-MMSI-636019972
If any of this is true, expect a PR from Edwin.
Those were the days.
2nd possible ship:
Arrived 1/14 12:49
From Fangcheng
Correct size 81285T
https://www.marinetraffic.com/en/ais/details/ships/shipid:6280865/mmsi:636019972/imo:9863091/vessel:KIRSTEN_OLDENDORFF
Our possible ship:
3 sites used:
www.marinetraffic.com (used to see all ships in port, and arriving to Muara Berau Anchorage)
www.myshiptracking.com (used to verify ship is geared, also shows last 9 ports)
www.vesselfinder.com (used to verify last 5 ports, more up to date than myshiptracking)
MOONBEAM
arrived at 1/10 6:50am
departed Fangcheng 1/4 3:48pm
spent 4 days in port at Fangcheng
I have yet to see many (if any) ships come to Muara Berau direct from Fangcheng. I am guessing if the ship has to be geared (can unload itself), it's probably a Handymax. I don't know how to calculate how 80 metric tons of coal relates to a ship with a GNT of 32,297 and a DWT of 58,138. But most of the Panamax ships aren't geared, so I think this is our size.
It already lists it's destination port as Fangcheng.
Their last delivery? How about they make their first delivery?
There's pumping, then there's flat out lying.
Oh please, pump this POS to the moon.
Put your dreams on a coal boat and let them sink into the abyss.
I wonder if Edwin is down at the anchorage helping to load the coal. Maybe they can get him a hat and he can pretend he's captaining the ship.
"Failure by the seller to deliver the goods latest by December 29th, 2020 shall be deemed as breach of contract"
Then goes on in PR to say "We expect to deliver our first shipment by the end of this month, if not latest mid of next month."
Its 11 days at sea. Ship has to be in port by the end of week getting loaded.
Were going to have to track the cargo ship ourselves. Edwin isn't in the business of keeping his shareholders informed.
Here is the port info in Indonesia:
https://shipnext.com/port/muara-berau-idn
Here is the port info in China:
https://shipnext.com/port/fangcheng-cnfan-chn
They list all ships in port, and coming into port. Also shows what is the cargo. Goes back at least a month.
There are 15 ships in port in right now at Muara Berau. None of which are going to China. Every one loaded with coal.
There are 16 ships in port at Fangcheng. 2 from Indonesia. One from Panjung, one from Tanjung Emas. Neither of those ports ships coal.
Looks to be about 10-11 day voyage.
Why CV.Dwijaya Cipta Energy would need a P2P loan company to broker a coal export contract is beyond me.
They ship coal to India, Germany, Australia. But when it comes to exporting to China, they call Edwin?
Ive almost seen it all with this company. Solar panels, cryptocurrency, noodle sales, prepaid mobile cards, p2p loans, egames, online shopping. Now were going into trading?
Couldnt wait to show us a contract, but day of first delivery hes nowhere to be found. You would think since this is a new part of the business going forward, maybe a blog update? Letting us know whats going on.
9pm tonight = start of business day 12/29/2020
Can't wait to see the photos of the coal on the ship leaving port.
I'll even settle for a copy of the bill of lading.
First shipment is the 29th.
There is a translation error on the 8K. (not the first time) States next month.
Read clause 2 in the actual contract, it matches the press release.
It also says in the contract "at the latest the 29th" or breach of contract