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What could be the explanation for what you saw today?
Look at the dumps, a million here, a million there, all scooped up without hesitation.
Another 40 million shares. Is there a normal person that would look at this chart and think they want to hold this more than 10 seconds? Only explanation is someone knows whats up. And i dont think theyve been buying because their interested in losing money.
All we have is the hope. Could be something good brewing.
Upcoming notes. Updated
So were onto the subsequent events part of the 10Q. These are the remaining notes we'll know about until that beautiful 10K comes out in May.
I'll also list the alternate conversion price, as well as the reserves required. The date will be the approximate date for conversion based off 180 days from when it was written.
4-1 $55,000 : 65% of low close : 8X reserve
4-23 $30,000 : 65% of low close : 10X reserve
4-24 $118,000 : 40% of low close : 8X reserve
4-29 $91,500 : 65% of low close : 6X reserve
4-29 $91,500 : 65% of low close : 6X reserve
4-29 $91,500 : 65% of low close : 6X reserve
So far our low close is $.0024 on 3-20, and it has to be within 20 days of the conversion date.
Add it all up, based off that closing price, and for April we add another 353,365,383 shares. At that price, it would take another $848,076 to buy all those.
Also our delisting day should be April 11th. Either that or he can pump it up over $.01 to reset the clock.
Quite the incentive for Edwin to get this deal done.
We had one we knew about that should have hit on the 23rd or 24th. I'll go back and look. Like I said the last 10Q is only going to show a few more, then were flying blind as far as how many notes were written between then and now.
Hes mentioned a buyback. I wish he would do it immediately. At this price $500,000 would go a long way.
Sad and funny.
When it comes to the increase in the number of shares, it says right in the 14c is due to reserves required by notes.
When a share price gets this low, it really throws off the math.
Most of the notes are being converted using the alternate method. So like 40% of the lowest closing price in the last 20 days. They also require a set reserve ammount the company must have on hand, like 10x the ammount required for full conversion of the note.
Heres whats sad. The share price has gotten so low, it looks worse than it probably is.
If Edwin got a note for $600,000 (this would be more than any note ive seen) and it converted at 40% of todays close, it would convert at $.0012 for 535,714,285 shares. If that one note had a reserve requirement of 10x the amount to fully convert, he would need over 5 billion shares just for that one note.
Were going to be flying blind when it comes to convertibles. The last 10q ran us up to the notes written in Oct. The 180 days on most of those is coming to an end.
We owe a debt of gratitude to whoever ate probably 100 million shares ovet the last couple months. They were still buying this week. KPAY would be closed right now if they wouldnt have done it.
All we can do is pray for a finalized deal.
Edwin controls the preferred b series which leaves him with a 51% majority voting shares just from those, that doesnt change.
Let alone the common stock he has. Dont worry about a take over.
Dont worry about a reverse split either. Until he refiles for a 1000:1. The 100:1 was filed when KPAY was still $.30 a share and would have served a purpose of buying time. Going to $.20 doesnt buy any time.
It's good to see the share price stay right where it's at.
No more pump on the press release. When the money hits the account, or if Kozjin wants to come out this week with a statement of their own to back this investment up, then we go up.
Or Edwin could play it smart, delay the news for a week, buy back stock (260,000,000 shares at $.0024 = $624,000) and put the company back on firm ground.
There is no way a flipper or a mm is looking at this and buying. How do you flip something that is declining every day.
The talk of a reverse split gets more amusing by the day. Yeah he's going to go 100:1 to set the price back to $.24. Absolutely clueless. You realize when he filed for it, the share price was at $.30 not $.0024 right?
Just keep asking yourself who is buying and why? 40 million shares before a weekend.
Maybe we get lucky and the new potential investor is buying.
Honestly, I don't know why anybody without inside information that something good is coming would be buying 1 share, let alone 20 million.
Yep. I hope for the best, but until we have a signed structured deal, were no further along.
I'm curious to look into their huge legal land reserves in Southeast Asia also, find out what they own.
Looks like their about the best match as far as a potential investor thus far. At least in similar business as KPAY/KFUND.
At least this PR didn't coincide with any convertibles hitting.
If they want to partner, Edwin better not balk if they ask for minimum 40% partnership. Please take it. Please.
http://kozjingroup.com/wp-content/uploads/2018/11/Kozjin-Group-Profile.pdf
"$260 million dollars worth of Kozjin Group's real estate projects"
Going to have to look into the projects and see what they are, and how far along they are.
I'll look into it later when I have some time.
At least we have a legit company, with an actual owner we can see with our own eyes.
Could be a good deal
Yeah im sure hes really itching to go to $.40 for about 2 days, a reverse split does nothing, so stop talking about it.
That ship sailed 2 months ago.
I think next one is on the 24th.
I'll try to update it again this weekend. But the 24th should be it for March.
I was probably off by a day on the 2 notes. Looks like yesterday and today. About 33 million of the 52 soaked up so far. Impressive. Keep buying whoever you are. God Bless You!
Why buy preferred shares?
$1,000,000 / $.003m = 333,333,333 shares of common stock. Shit at least split it and soak up 167 million.
I still wonder where all the shares from the last few months went. Eating up every share that was converted, all losing money the whole time. But just kept on buying. Can't be the general public. No one here bought 100 million shares over the last few months. Only someone with some extreme faith would do that. Or someone with a lust for burning money.
If you know something we don't, the clock is ticking. You have a month to recover the share price. I wish you the best.
I'm beginning to think that first of the 2 big notes hit yesterday
For sure. We knew this down to the day. Said all along tomorrow and Monday the shit hits the fan. Going to be over 52 million shares hitting.
Tomorrow PR better include a picture of him at the bank with a deposit slip in hand.
I'll repost this here:
How to immediately disregard the upcoming PR.
If you see any of these words, you'll know it's a waste of your time:
1.expect or expects
2.soon
3.within
4.Singapore or Singaporean
5.negotiations
6."short period"
7.upon
8.finalizing
9.process
10.activate
If you see "Pte." after the investors name, forget it.
Good luck Edwin.
It's a start. He should be all hands on deck with the p2p. If he see's something positive in e-commerce, then so be it. But a million dollars could do a lot of marketing for the p2p, where I think all the growth is at. Just get it to a point of repeat customers for some guaranteed monthly revenue.
Keep it coming Edwin!
Going to give Edwin some credit
https://www.finansialku.com/kisah-sukses-frans-budi-pranata/
Article from today.
So we had the 2 time CFO of the year in Indonesia, 2013 & 2105, working for us back in 2016? And it looks like he's back as an advisor now.
https://id.techinasia.com/kinerjapay-pendanaan-26-miliar
Scroll down, that's him on the left.
http://budipranata.com/
A website called Billion Dollar Mindset, and wrote a book called "How to Build a Billion Dollar Startup"
And this is where were at? What happened? Is there a chapter in the book titled "Writing Unlimited Convertibles"?
If you were Edwin, you would think this was the right guy to hire right? Crazy. I don't get it.
Social media. So as far as I know, there is this and Yahoo. Is it possible he reads this shit? He can't be talking about Facebook, Instagram, or Twitter because there are no comments there.
He should register and join the conversation. Him and M24 would hit it off great.
Please tell me you're not serious?
The fact that that was still on their last 10Q, and he never gave it back is hilarious. Like Georgio said, what does it matter now. But when you have a horrendous looking balance sheet, that would have taken off from the liability side and at least helped.
Hard to tell you anything right now. We have no way of knowing how the p2p is doing, which is the only thing that matters.
My thought is they are waiting until they get their servers connected to the OJKs Fintech Data Center before releasing the next update, which would include the live data for loan numbers being put back on the website.
https://id.linkedin.com/in/hengky-surya-680b34188
That is one of their developers LinkedIn page. He has been updating it as they go through the OJK courses
"Workshop integrasi platform Fintech P2P Lending dengan Fintech Data Center (FDC) AFPI batch 4. Sebagian besar peserta saat ini adalah dari platform..."
Their still able to process loans, but we get to guess how many for now. Could be 2 or 200.
If they file their 10K on time (ha,ha) it will be out by months end. It's not going to have enough of a look at the p2p numbers since they didn't get started until this calendar year.
But I'm expecting a PR from Edwin before weeks end, as it will take a miracle to make it through Friday and next Monday.
OJK to help spur on the development of the p2p industry this year.
Everyone has KPAY fatigue. We cant get an update on how KFUND is doing, but the OJK at least continues to help these companies grow.
The article is from yesterday "To spur Indonesia’s fintech development, the OJK is preparing several new policies, Wimboh told the Jakarta Post in September. “We will launch them before year-end,” he said, without elaborating on the proposed policies further.
The OJK is also exploring possible fintech partnerships with other Southeast Asian countries, Wimboh said."
He is more than likely talking about 2020 to enact the new policies. I'll keep watching to see what they propose. If I had to guess, one of them will be the push to partner with banks.
Also like to see what they have in store to open doors to other countries. I think the other countries are viewing the way the
OJK/AFPI has handled the p2p industry in Indonesia and see it as a model. If it's good enough for the OJK, its good enough for them.
https://www.welltrado.com/blog/p2p-lending-is-booming-in-indonesia/
I can't wrap my head around this.
A. Either someone has some deep faith something good is going to happen at some point.
B. People are buying in for a quick pop
If you were looking at this what other explanation could there be? At what point does the buying stop? I don't care if it's only $5,000 or $10,000 someone is spending.
unbelievable
there it is, that 3 mil block
it went to 11.5 million
What the hell just happened? I turned my head and the volume jumped like 4 million?
Probably not today. They put a floor of about 700k shares at .0077 - .0079
It would take nothing to bid it back up to a penny. My guess is were seeing whats left of Mondays notes hitting.
he probably read the post about not using the same buzz words like he always does, and had to go back to the drawing board.
Updated convertibles for next Friday 13th and Monday 16th
These are the 2 big ones.
Based off our new low today, Friday 28,528,911 shares will hit. Monday 34,013,605 shares will hit.
If whoever keeps buying, they need another $620,000 for those 2 days.
The funny thing about this week, we had 27 million shares from convertibles hit on Monday (3 @ $82,500), and what do you know, the last 3 days volume adds up to 27,606,105. So there is really zero volume. No one is buying shit. Except whoever is soaking up the converted shares.
This next PR better be the mother of all PRs. Have that deposit slip in your hand for us to see Edwin.
He had the advantage of the PR last year. Hence the slowed down decent of the price. The PR advantage is no more.
He can reverse split it, but its coming down alot faster than last year.
And at this point how does promoting a stock under a penny go? He's in another country telling people what an amazing investment this is, then he pulls out a chart for the last year, and the investors are lining up around the block?
Interesting theory.
If he wants to reverse split, at this point what does it matter? It literally buys him about 2 weeks max. Going to $.90 does nothing. It will sell off so quick, he would need to refile for a 1000:1 a week later.
Were right back to where we've been. Either KFUND carries the company with its revenue, we get funding, or were done. That simple.
When these guys cant sell converted shares anymore, no more notes get issued. Keep in mind also, they have to send financials to the OJK monthly. There are minimum requirements that need to be met.
Boy look at that level 2 today. That's a thing of beauty.
Okay, you've got an hour to bid this POS back up to a penny.