Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
There needs to be buyers of shares when these notes convert. If your telling me something out of the ordinary isn't going on here, then we'll disagree.
There shouldn't have been any shares purchased at all in the last month. But every day, someone is soaking up all these shares. At what point does this person get to profit? Then why do they keep buying?
I wish they would spin off KFUND. I would saddle KPAY with all the debt and kiss it goodbye.
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.
We need to set up a odds pool by the end of today. We could do odds on everything from the words used in the PR. Like "soon" is 2:1, "expect" is 3:1, etc.
As well as the odds of the new subscription company being found on the internet. Probably 1000:1
I'll get working on it.
With the volume the last 2 days, i think they still have a little more to go from the 3 notes that hit.
After that, he has until next Friday the 13th to figure out how to run a business without notes to pay for things.
When these guys cant sell their converted shares to anyone, no more notes.
If hes planning a PR for next friday morning, it better be a good one. A reverse split gets you back to $1.00, which wouldnt last more than a few weeks before it was below $.10 again.
So either KFUND needs to start making enough money to sustain the company or funding is needed to keep it going. Next step might be to shut everything down but KFUND.
The ask side is all above $.01 for now. They'll just have to keep on the ask until close.
Another day of over 8 million shares soaked up by someone. Thanks again.
CSTI and ETRF are trying to keep a floor under this thing. Good luck.
it goes by the close price. so see if they buy this POS up.
Also, prepare your check book for next Friday. And then for the following Monday.
Thank you again.
Thank you, whoever you are.
Just keep buying.
Love those 4,999s.
Three notes hit today. $82,500 each.
modalku - 3.3 stars
amartha 3.7 stars
danamas 3.5 stars
komunal 3.5 stars
ammana 3.4 stars
danai 3.6 stars
igrow 3.4 stars
pinjam gampang 3.1 stars
really the point is who is more likely to leave a review? we all know the answer to that question, the person who has something negative to say. so someone gets rejected for a loan, and you're the biggest piece of shit ever. your fault, not theirs, blah blah blah.
They've been steadily adding followers to their Instagram also.
Whoever is doing the social media on the KFUND end is doing a good job.
We just needed sentiment to hit rock bottom. I'm pretty sure were there.
Next step, good news.
The fact that he hasn't RS yet is amazing. When the paperwork was filed it mentioned if they did max 100:1 the share price would go to $3.00.
At least then he had more wiggle room for more notes. Now what? We go to $1.20? More shareholder bail when that happens, price drops, and he has no room left for many more notes.
Crazy. Either we don't know something, or this guy is going for the fastest bankruptcy after a reverse-split in history.
Maybe refile and go for 1000:1
Its so dumb. ETRF is trying to put a floor in at $.01. Citadel is delirious, apparently whoever was buying their shit decided to stop.
A look at KFUND's classmates:
#164 https://kotakkoin.id/about-us
their counter is all zeros
#163 pinjamindo.co.id
site has not updated their certificate, security risk warning
#162 https://www.ivoji.id/
on first page, loan counter is up with no information
#161 http://www.jayindo.id/English/information.html
counter up, all zeros. also like the front page where its still flashing "were in the process of registering with the ojk". copyright 2018
#160 https://www.indosaku.id/
no counter. I like the disclaimer banner that blocks the whole top of the home page.
#159 https://www.sumur.id/
site still under construction. no counter.
#158 puhuilending.co.id
site has bad certificate, security risk warning
#157 KFUND
#156 http://tfa.co.id/
no counter. not sure what is happening here.
#155 http://pinjamkan.co.id/
on first page, counter is up, all zeros
#154 http://tolongku.id/
Coming Soon! wow, only been 2 months.
#153 http://www.cankul.com/index.html
no counter. copyright 2018
#152 https://www.360kredi.id/index
counter is up, $9,812.66 through 171 loans
#151 https://www.bbxfintech.co.id/
no counter, nice looking site though
#150 mitrapendanaan.co.id
no counter
#149 https://argapro.id/
no counter, going to be a real good company
#148 https://www.optimaapp.co.id/home.html
no counter, a lot of work to be done here
#147 https://www.mikrokapital.id/
no counter, a one page site
#146 https://www.danon.id/
counter is up, probably testing still, only says 6 borrowers and 3 lenders no dollar amounts
#145 https://www.samir.co.id/
no counter, very nice site though
So there you have it. That's all the companies registered the same day as KFUND. Most of them don't even have the OJK and AFPI logos up yet. Most don't have the TKB90 number displayed.
Takes time. Rules are changing under their feet. I'm confident the counters aren't displayed yet because they're all going through the same process of trying to integrate into the FDC before doing a full launch. The FDC will help them with defaults, verification, credit risk, etc. Might as well do it now while its easy.
Who are they going to be selling those shares too?
Am I living in the Twilight Zone? Who the hell has been buying any shares for the last month?
How do you turn a profit when all the share price does is goes down?
We've seen days with volume over 7 mil this week. Who is buying this at any price? Where are all these shares going?
LOL. You guys need to give it up. Even if this turns out to be smoke and mirrors. Lets look at some FACTS:
Whats the SEC going to do? Delist them? You think if he was running a scam, he gives a shit about getting delisted?
A class action law suit? Grow up. Which court are you going to sue him in? In Indonesia? The U.S.? Whats the charges? Misleading investors? Ok, good luck with that.
You do realize that Indonesia and the United States do not have an extradition treaty right?
Here is the US State Department webite with all the countries with extradition treaties:
https://2009-2017.state.gov/documents/organization/71600.pdf
So here is how this goes in your heads:
SEC calls Indonesia:
"hello President Joko Widodo, this is Agent Johnson from the SEC. We would like your help in apprehending someone for misleading investors for an OTC stock"
Indonesia:
"Yeah, no problem. Were just a little busy right now. As you know our largest state owned insurer Jiwasraya just got done fleecing the public, and left a $2 billion dollar hole in it's books. But you say this guy mislead some Americans? Let us drop everything and go find him"
A look at KFUNDS new blog page
https://blog.kfund.id/
Interesting their first post is about investing. On Sahala's LinkedIn page, he had a message saying he could help with your investing needs.
You cant use the link on the KFUND site to get to it yet.
Here is what you do.
Go to the OJK site and look at the list of the 164 p2p companies. Look at the companies that were approved on the same day as KFUND. Go to those companies sites and let me know how many counters you see.
From 9:00 am today:
https://teknologi.bisnis.com/read/20200225/266/1205772/antisipasi-gagal-bayar-fintech-data-center-diperkuat
They say it will take them 6 months to get all existing p2p lenders integrated.
The FDC is going to be like a credit bureau. None of this stuff exists. They are literally building the industry on the fly.
Wonderful, a new low closing price.
You know what that means.
My understanding is the "counter" will appear with the next app update. It makes no sense to put out an update until they get the app integrated into the FDC. It sucks, but this isn't on their end, this is on the AFPI's end. Their the ones who came up with the FDC.
This article shows when the AFPI introduces the FDC, 11-11-2019. KFUND didn't get the official registration until a month after that. When the FDC was introduced, 15 companies had provided the data to get on board.
https://kr-asia.com/indonesias-fintech-lender-association-launches-a-fintech-data-center-to-enhance-credit-assessment
This article from 2-10-2020 shows 5 of the original 15 were 100% integrated. 2 months later.
https://www.thejakartapost.com/news/2020/02/10/online-lenders-join-data-center-to-foil-recalcitrant-borrowers.html
If KFUND started from day 1 working on integrating into the FDC, how far along do you think they are?
All you have to do is go to the PlayStore. Read the reviews. Not all good, some complaints from people being screened out and not liking it.
Its been up and running.
The door is already open. Theyve been facilitating loans since the app came out. We just dont know how many, because they havent put the numbers up yet.
Komunal at 1 year of lending:
https://jatim.sindonews.com/read/24466/1/setahun-beroperasi-komunal-salurkan-pembiayaan-rp100-miliar-1582531336
$7.189 million in loans
They managed to swing that on seed money in one year. Usually this seed money is undisclosed, but comparibles would say its about $1.5 mil.
There has to be a VC that will give KFUND seed money. This is crazy. Its a no lose investment. P2P grows another 50% this year in Indonesia, and were in the limited pool of companies.
Literally in the last group. Its like something finally went our way.
I also am wondering if integrating into the FDC is part of the next update, and why they arent putting the loan "counter" up yet.
I told you it would happen!
Ojk and Afpi came to an agreement today to freeze the p2p registration process. They are saying it is a temporary move until more of the registered companies get fully licensed, and the infrastructure catches up with the industry. Deeming the existing 164 companies are able to cover the country adequately.
Part of the issue is data abuse by companies. Which is why they want to get the FDC up and running. Looking at Hengky Surya's linkedin page, he was at an OJK platform integration workshop in the last few days. You can bet this is to get KFUND connected to the FDC.
Were in a business where the government just stepped in and froze new competition.
https://m.bisnis.com/finansial/read/20200224/89/1205067/ojk-setop-pendaftaran-baru-fintech-permasalahkan-kualitas-pembiayaan
https://id.linkedin.com/in/hengky-surya-680b34188
There are 25 out of 164 fully licensed, this will be a long term freeze unless the OJK speeds up it licensing. They have been averaging around 10 a year at best.
If you want to see something funny, look at the level 2 from this morning. I hope that was someone here that did that.
And their sure not on a commission based site.
If it wasn't for KFUND, I'd say you had a point. But seems like a lot of wasted time and effort just to make a few bucks. They could have fabricated a business in many other areas. Why go in a direction that involves government oversight?
He seems to on average last year carry around $3.5 mil of convertible notes at a time. Pipe dream, but the first $7.5 mil he could wipe out half of the notes close to the conversion date, $2 mil on buyback, rest for marketing. Next month, another $7.5 mil, get the rest of the notes off the books. Then it's a functioning business.
Or he could spin off KFUND, get it listed, saddle KPAY with all the debt, and leave it to die.
I'll take shares of KFUND.
Yeah there you go, buy at $.016 with $20,000 so you can sell now at $.014.
Like I said, who is buying?
Does $20,000 in this seem like a good idea to you? When would you sell for a profit? Do you know of a catalyst that's going to propel this upward?
Who is buying? 1.3 mil in the first 10 minutes?
Convertibles and the share increase
If you've held on this long, who cares about any more bad news. So here you go...
We need 1 of 2 things in the next 2 weeks, I would say if you want an exact date by Friday March 13th. We need to see growing revenue from the p2p, or outside funding. If neither is present, let me show you how it looks.
The lowest closing share price we've seen in the last 20 days is $.015, keep this in mind.
Every note I'm listing here will convert at 60%-65% of $.015, or worse if we have a lower closing price. For now lets say 60% or $.009.
Here is your upcoming list: (shares when converted)
2-24 $110,000 (12,222,222)
2-27 $82,500 (9,166,666)
3-3 $82,500 (9,166,666)
3-3 $82,500 (9,166,666)
3-3 $82,500 (9,166,666)
3-13 $395,000 only $167,750 converts on this date (18,638,888)
3-16 $200,000 (22,222,222)
2-24 $149,453 (16,605,888)
That's 106,355,884 shares in the next 30 days.
If the share price goes below $.01, both of the big notes will be allowed to convert at 40% instead of 60%. Not to mention the penalties that kick in as well.
The big notes also carry the largest required reserve shares, 10X the number of shares needed to fully convert the note. So for the $395,000 note, KPAY needs to have 43,888,888 shares in reserve at all times just for this note.
So whoever is buying all these shares every day, keep up the good work. At todays price you'll need about $1.7 million more dollars to absorb what's coming.
Is this just the normal mid-day spike? or is something up
Why all the buying?
Maybe the mm's are going to run it back up to $.02 by Friday just in time for the next round of convertibles.
Take a look from 1:25 until now. Want to explain that one?