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Haven't sold any.
Why bother. Whats the difference between zero and zero.
I want to see Edwin have to deliver.
So glad this isn't going up.
I figure with Edwin's family in the palm oil business, he should know something about exporting comodities.
How hard could it be? China needs coal after cutting out Australia.
I want to see how many stupid ideas of Edwin's i can endure.
You want big money from KPAY?
Send Edwin an email and explain this to him:
-The contract is valued on a profit of $9,800,000 annually
-Biweekly shipments = $376,923 profit every 2 weeks
-Profit from first shipment, take $180,000 and buy back 100,000,000 shares
Do this for the first 6 months. By the time you're done, you should have a billion shares off the market. Back to 500 million, where we used to be.
Share price goes back up to at least $.50
-Take the other $196,000 and get KFUND working immediately
The new building cost $5,000 annually. A joke. Marketing, small payroll.
Also: Maybe give back your Series E shares for negotiating the beautiful "Wahana Deal". That only shows up as a $3,559,417 loss on the books. Granted they're worthless now. At least it shows some good faith.
Anoki out making the rounds yesterday
https://jogjaaja.com/read/kfund-danon-dan-teman-prima-kenalkan-manfaat-fintech-p-2-p-lending-selama-pandemi
1.On December 1, 2015, the Company entered into a license agreement (the “License Agreement”) with PT Kinerja Indonesia, an entity organized under the laws of Indonesia and controlled by Mr. Ng (“PT Kinerja”), for an exclusive, world-wide license to use and commercially exploit technology and intellectual property owned by PT Kinerja (the “KinerjaPay IP”) and its website, KinerjaPay.com (the “Portal”). The Portal, and the technology behind it, KinerjaPay IP, create an e-commerce platform that provides electronic payment solutions to customers and merchants for bill payment, money transfer and online shopping. KinerjaPay.com is among the first portals that allow users to conveniently top up mobile phone credit in Indonesia.
2.In consideration of the acquisition of PT Kinerja Indonesia in August 2018, the Company issued a Promissory Note of $1,200,000 with interest of 6.00% per annum. The note is due twenty-four months from August 31, 2018. Our ability to repay full principal with interest upon note maturity will depend on our ability to generate sufficient cash flow from operations and equity financing to fulfill debt repayment. Our inability to repay the note in full at maturity will lead to default and we may be responsible for additional cost related to collection and attorney fee. The Company currently runs working capital deficit as of December 31, 2019, we may not have sufficient funds to repay the indebtedness at maturity.
3.On March 18, 2020, the 100,000 Series L Preferred Shares were issued to Company’s CEO and Chairman, Edwin Ng at $10.00 per share, for a purchase price of $1,000,000. $664,534 of this amount was used to pay down the Promissory note, related party, leaving a balance of $231,706 still due on the note.
Our hero's $1,000,000 investment. Paid to himself.
Youre missing alot of research.
He couldn't afford to pay 60 employees on his best day.
Revenue last year was $450,000
Cost of sales was $431,000
Leaving profit of $17,830
He's not floating notes anymore, because he can't.
So what do 60 employees make 17,830/60 = $297 a year?
go to id.linkedin and search through KFUND, KMALL, KPAY, PT Kinerja, Kinerja Sukses Gemilang...and see whats left
I honestly think KFUND is running with around 5 people
There was a handful of people running PT Kinerja last year (Servers)
Kmall used to have the most, but they don't even have volunteers updating social media anymore
KPAY can't be more than 10 people
Not quite.
Some of my favorite 8K's:
This was the one where "Gabriel Capital" was giving us $25 Million:
https://app.quotemedia.com/data/downloadFiling?webmasterId=102859&ref=114616763&type=HTML&symbol=KPAY&companyName=KinerjaPay+Corp&formType=8-K&formDescription=Current+report+pursuant+to+Section+13+or+15%28d%29&dateFiled=2019-11-12&CK=1494162
This was the one where "Gabriel Capital" subscribed to $200 million in preferred stock:
https://app.quotemedia.com/data/downloadFiling?webmasterId=102859&ref=114464566&type=HTML&symbol=KPAY&companyName=KinerjaPay+Corp&formType=8-K&formDescription=Current+report+pursuant+to+Section+13+or+15%28d%29&dateFiled=2019-10-23&CK=1494162
This was the one where the infamous "Wahana Group" confirmed the completion of the $200 Million subscription:
https://app.quotemedia.com/data/downloadFiling?webmasterId=102859&ref=113012781&type=HTML&symbol=KPAY&companyName=KinerjaPay+Corp&formType=8-K&formDescription=Current+report+pursuant+to+Section+13+or+15%28d%29&dateFiled=2019-05-06&CK=1494162
This one was saying that "Wahana" would deposit the $200 Million in 10 days:
https://app.quotemedia.com/data/downloadFiling?webmasterId=102859&ref=112682261&type=HTML&symbol=KPAY&companyName=KinerjaPay+Corp&formType=8-K&formDescription=Current+report+pursuant+to+Section+13+or+15%28d%29&dateFiled=2019-01-30&CK=1494162
Remember our noodle business?
https://kinerjapay.co.id/blog/2019/07/12/warehousing-of-kmall-goods-and-warmindo-needs/
That was the day Edwin ran to Costco and picked up a pallet of noodles, and declared we were "top ramen".
Edwin needs you to get one of these:
https://www.amazon.com/solar-miner-hat-helmet-garden/dp/b00fehw46c?tag=indifash06-20
And report to East Kalimantan. We have to help the team.
We used to be in the P2P loan business, E-commerce, pre-paid mobile cards...
Now?
Coal
Because nothing says 21st century growth quite like a new coal business.
354 million shares. Think about those "guys" who ate all those shares on the convertible notes, having to wait patiently for Edwin's next "big idea" to finally unload them.
Congrats to them, even though i suspect their taking a massive loss. But now it's someone else's problem.
Read the headline carefully
"China Construction Investment Group (Ningbo) Trading Co., Ltd."
Always trying to attach to another larger company a real name...
Like:
"China Construction Investment Corp Co Ltd" (a real company)
"Ningbo Development & Investment Group Co Ltd"
"China National Building Materials Investment and Trade Company Limited (CNBMIT)"
"China Railway Construction Investment Group Corp Ltd"
LOL The CEO saying he invested $1 million of his own money is hilarious.
He took his money and payed off a loan from another company he owned. His money left his "account A" and went into his "account B".
Saying they are cash flow positive is almost as funny. I mean you did sell the building and everything else you had.
If you generate $10 revenue, but have zero debt because its all in the shares, thanks to the millions in convertible notes you wrote that led to nothing, i guess you're cash flow positive.
KFUND still has a pulse
https://daerah.sindonews.com/read/256842/701/kfund-sosialisasikan-industri-fintech-p2p-di-kalangan-mahasiswa-bandung-1607087556?showpage=all
from 12-4
doing a talk show at one of the local universities with another p2p lender
Explanation for volume today?
Something up or what?
"Jaswita Jabar also signed a non-disclosure agreement with PT KinerjaPay Indonesia for development of a project at some location in the province."
https://en.antaranews.com/news/161888/jaswita-jabar-offers-four-strategic-investment-projects-at-2020-wjis
"In addition, a non-disclosure agreement and PKS between Jaswita Jabar and PT Kinerja Pay Indonesia for the construction of a tourism support project in West Java as well as a preliminary agreement on the development and management of Hejo Forest Eco Tourism with PT Bina Wana Lestari."
https://daerah.sindonews.com/read/237712/701/geliat-pariwisata-jabar-buka-investasi-hotel-kapsul-hingga-bintang-lima-1605759066/10
https://www.antaranews.com/berita/1846276/bumd-jaswita-jabar-tawarkan-empat-proyek-investasi-di-wjis-2020
https://www.wartaekonomi.co.id/read314412/jabar-tawarkan-76-proyek-investasi-pariwisata/2
https://finance.detik.com/berita-ekonomi-bisnis/d-5260097/dear-investor-jabar-tawarkan-4-proyek-strategis-rp-238-miliar/2
https://www.cnnindonesia.com/ekonomi/20201118111801-92-571288/jabar-cari-investasi-rp58-t-untuk-76-lokasi-pariwisata
https://www.cnbcindonesia.com/news/20201118103739-4-202662/bi-di-luar-dugaan-investasi-ke-jabar-kian-deras
From the CNBC link "In addition to boosting turism and infrastructure, WJIS 2020 is also the gateway to trade and MSMEs.
"The highlight of WIJS 2020 is tourism and trade. During this pandemic, WJIS will be very easy to enter (trade) by MSMEs," said Noneng."
If nothing else, maybe it gets KFUND out there to the MSME community.
http://jaswitajabar.co.id/2020/11/18/west-java-investment-summit-day-2/
There's Edwin!
"2. JSW Non Disclosure Agreement – PT. Pay Indonesia Performance : Project
Development in West Java Region"
So, what's the project?
Bandung, Sonora.ID - In the implementation of West Java Investment Summit (WJIS) 2020, PT Jasa and Kepariwisataan Jawa Barat (Perseroda) or called Jaswita Jabar,signed four memorandums of understanding (MoU) for the economic recovery of West Java.
On the second day (Tuesday, 17/11/2020) of the West Java investment promotion event, Jaswita Jabar signed a memorandum of understanding (MOU) with PTPN VIII regarding the management of the 400 hectare Ciater tourism area, which was witnessed directly by the Governor of West Java Ridwan Kamil.
Read More: Jaswita West Java Wins Two Top BUMD Awards 2020
In addition to the MOU with PTPN VIII, Jaswita Jabar also offers four strategic projects in various locations in West Java. The four investment projects are the construction of a capsule hotel on Jl Ambon No 18 Bandung worth Rp7.2 billion, Cikutra creative market development on Jl. Cikutra no. 70 Bandung worth Rp 212 billion, Construction of Hejo Forest ecotourism area in Ciwidey Rancabali worth Rp6.5 billion, and construction of Pangandaran art cottage worth Rp 12.9 billion.
President Director of PT Jasa dan Kepariwisataan Jabar (Perseroda) Deni Nurdyana said that the four investment projects offered by Jaswita Jabar are all excellent projects to support tourism development in West Java.
"We marathon this event from Monday (16/11) to today (17/11) providing investment offers in these four projects that are in line with west Java's development vision which is to make tourism as a car of economic development, and also in line with Jaswita Jabar's vision to make Jaswita Jabar as the leading company in tourism in 2025," said Deni during a press conference at WJIS 2020 event at Savoy Homann Bandung, Tuesday (17/11/2020).
Read More: Governor Jabar Ridwan Kamil Inaugurates West Java Investment Summit
According to him, these four projects are offered to investors with funding models in the form of soft loans, strategic partnerships, and direct investments.
The business scheme also varies, ranging from direct management by Jaswita Jabar as well as management cooperation with investor partners.
"In covid-affected economies, one of the most likely financing options is to invite investors to jointly build these tourism support projects together," he said.
Read More: Motion Temen Interview Webinar: Investment 102 With Felicia Putri Tjiasaka
In the afternoon (17/11), Jaswita Jabar also conducted cooperation agreements (MCC) among others with the Tourism and Culture Office (Disparbud) of West Java Province related to the development and management of Pondok Seni Pangandaran West Java, the Non Disclosure Agreement between Jaswita Jabar and PT. Pay Indonesia's performance for project development in West Java region, Signing of MoU Jaswita Jabar with PT Kinerja Pay Indonesia: Project Development Cooperation in West Java Region, and preliminary agreement on development and management of Hejo Forest Eco Tourism between JSW - PT Bina Wana Lestari.
Signed a nondisclosure agreement Jaswita Jabar for project development in West Java region.
No idea what this even means yet. The translation of these articles is not very good.
But it's reported in all the big news sites.
https://www.wartaekonomi.co.id/read314412/jabar-tawarkan-76-proyek-investasi-pariwisata/0
https://www.beritabicaranetwork.com/bumd-jaswita-jabar-tawarkan-empat-proyek-investasi-di-wjis-2020/
https://republika.co.id/berita/qjzko3396/jaswita-jabar-tawarkan-empat-proyek-di-wjis-2020
https://www.sonora.id/read/422433133/jaswita-jabar-tawarkan-empat-proyek-investasi-pada-ajang-wjis-2020?page=all
Little different than PR Newswire garbage. Notice it didn't come from Edwin.
My response was sarcastic.
It's ridiculous they are still behind 2 quarterly reports.
Oh you mean it's a good idea to file quarterly reports?
Maybe he can dip into his "$1,000,000" investment he paid back to himself, and pay the accountants.
Maybe the mm's just gave up.
decided moving $140 worth of shares every day isnt worth it
Inactive? Whats next?
Someone convince him not even a 3000:1 will work, because the notes wont sell anymore?
How to destroy a company.
Outstanding shares:
12-31-2018 = 22,089,033
12-31-2019 = 103,709,986
10-21-2020 = 1,513,872,948
Notes written:
2016 = 0
2017 = $480,345
2018 = $1,304,853
2019 = $1,674,994
Anyone have any idea who bought over a billion shares this year?
You can convert all the notes you want, but someone has to buy all those shares. So who is it? Who would look at this company and think it's a good idea to invest in it?
Reverse split this P.O.S. 3000:1. Great your at $3.00, now what?
More notes? Who is buying at $3.00? Who is buying at $.001?
When you can't P.R. anymore to give your note holders a boost to sell, you are here.
Pray for the acquisition. Edwin's played all his cards.
April 9th, 2020
$150,000 note
Right about the 6 month mark.
There's your volume today.
Last one listed on the 10K. After this, we're in the dark again until we get the delayed 10Q.
I'm not going to waste my time figuring out what the conversion was on this note. They had 1.5 billion left to issue.
You mean the good stuff like where they sold their building in March 2020. When Edwin donated his $1,000,000 right back into his own bank account in March 2020.
The 10K doesnt stop at 2019. Why not try reading the 475 pages.
For the acquisition.
I know AC Rick (the guy from Kozjin) mentioned they were waiting on financials to be completed. Well here you go. Feast your eyes on the 10K.
Current assets are a joke. Take out prepaid consulting fees (listed as an asset), and you have about $1,106,390. And thats being generous.
You get the p2p license, the servers, and some intellectual property.
It looks like the new company auditing KPAY went back through every note ever issued, and included it in this 10K.
They're probably sending out copies to business schools as a case study in how to destroy a business.
"Mr. Ng intends to devote 20% of his professional time to the business affairs of the Registrant."
Why bother?
Penalties on notes for late filing:
$2,003,921
Under "Revenue Recognition"
Whats missing?
How about any revenue from KFUND.
They still talk about KFUND like it isn't even up and running.
Sold the building for $803,571 in March 2020
Now working out of a leased building for $5,000 a year
The stock buyback. LOL
Spent $86,340 on 616,000 shares. $0.14 a share
At todays price, they could have bought back 107,925,000 shares
Edwin Ng's career in one quick story
Anyone remember this jewel :
"JAKARTA, Indonesia, March 12, 2020 /PRNewswire/ -- KinerjaPay Corp (OTCQB: KPAY) announced today that Mr. Edwin W. Ng, the Company's Chairman & CEO is investing $1,000,000 into the Company. Mr. Ng stated "I decided to inject my own capital from recent asset sales to jumpstart our micro-lending operation, using our KFUND platform. The opportunity for the Company to rapidly grow in Indonesia's alternative lending market is a once-in-a-lifetime opportunity. I also want to demonstrate my commitment to our loyal shareholders. KFUND's recently received license gives us the opportunity to generate significant earnings for KPAY this year."
1. His $1,000,000 purchased Series L shares
2. On August 31, 2018, the Company completed the acquisition of its licensor P.T. Kinerja Indonesia
3. PT Kinerja was owned by who? You guessed it Edwin Ng. 75% worth
4. In consideration of the acquisition of PT Kinerja Indonesia in August 2018, the Company issued a Promissory Note of $1,200,000 with interest of 6.00% per annum. The note is due twenty-four months from August 31, 2018
5. So Edwin was getting paid interest on this note, and the company was paying down the principal. (already knew this)
But the best part:
"On March 18, 2020, the 100,000 Series L Preferred Shares were issued to Company’s CEO and Chairman, Edwin Ng at $10.00 per share, for a purchase price of $1,000,000. $664,534 of this amount was used to pay down the Promissory note, related party, leaving a balance of $231,706 still due on the note."
His $1,000,000 went right back into his own bank account.
Best Digital Wallet Indonesia 2020
https://www.globalbankingandfinance.com/global-banking-finance-awards-2020-award-winners/
Scroll down middle of page
2020 Best Digital Payment Solutions Provider Award
https://www.globalbrandsmagazine.com/award-winners-2020/
Fintech category is new this year. Best in Indonesia.
KPAY now in the SAM app:
https://www.facebook.com/SmartAssetManagers
Looks like they launched the update to include KPAY, SAM Ride, SAM Delivery, and SAM Remittance.
Lol. SAM video from 8-22.
I don't speak Spanish? Or whatever language this is. But if this guy said what i think he said when talking about KPAY, he's the salesman we need.
Pretty sure he compares KPAY to Amazon and PayPal.
Seems about right.
https://www.facebook.com/CrevMaximpact/videos/810199826386371/UzpfSTEwMDI4NTM5NDk5NDQwMzoxNzc4MDYyMjcyNDIzMTk/
48:29-49:50