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JAKARTA, Indonesia,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."
Mr. Ng's investment is in the form of a convertible preferred at $.10/share with no antidilution protection. This fund will also be used to support other main businesses of the Company, ie. eCommerce trades, B2B transactions, and Online Pulsa (Mobile Prepaid Topups).
When asked about the Company's future plan, the Company's Chairman & CEO, Mr. Edwin W. Ng commented "We continue to make progress with several investors to deliver the MT-760 Bank Guarantees to allow KPAY's Indonesian subsidiary to draw on its non-recourse credit line. We anticipate positively updating our shareholders shortly. I am convinced that the Company will grow and become a significant player in eCommerce as well as P2P lending. My investment will generate sales and cashflow growth. We expect to see results over the next three months."
About KinerjaPay
KinerjaPay enables consumers to "Pay, Play and Buy" through its secure web portal and mobile applications. Based in Indonesia, the Company provides an easy and convenient payment solution while shopping online at its marketplace platform. With its current omni-channel platform, users can perform various payment services such as credit card bill payment, utility, phone bill, healthcare insurance and direct transfer to anyone at their convenience. KinerjaPay is also planning to launch other eCommerce verticals such as travel market, delivery services, and online gaming in the near future. The Company's services are available through its mobile applications and on its website at www.kinerjapay.com.
Notice Regarding Forward-Looking Statements
This press release may contain forward-looking statements, about KPAY's expectations, beliefs or intentions regarding, among other things, its product development efforts, business, financial condition, results of operations, strategies or prospects. In addition, from time to time, KPAY or its representatives have made or may make forward-looking statements, orally or in writing.
Forward-looking statements can be identified by the use of forward-looking words such as "believe," "expect," "intend," "plan," "may," "should" or "anticipate" or their negatives or other variations of these words or other comparable words or by the fact that these statements do not relate strictly to historical or current matters. These forward-looking statements may be included in, but are not limited to, various filings made by KPAY with the U.S. Securities and Exchange Commission, press releases or oral statements made by or with the approval of one of KPAY's authorized executive officers. Forward-looking statements relate to anticipated or expected events, activities, trends or results as of the date they are made. Because forward looking statements relate to matters that have not yet occurred, these statements are inherently subject to risks and uncertainties that could cause KPAY's actual results to differ materially from any future results expressed or implied by the forward-looking statements. Many factors could cause KPAY 's actual activities or results to differ materially from the activities and results anticipated in such forward-looking statements, including, but not limited to, the factors summarized in KPAY 's filings with the SEC. In addition, KPAY operates in an industry sector where securities values are highly volatile and may be influenced by economic and other factors beyond its control. KPAY does not undertake any obligation to publicly update these forward-looking statements, whether as a result of new information, future events or otherwise. Please see the risk factors associated with an investment in our securities which are included in our Annual Report on Form 10-K as filed with the SEC on April 20, 2018 and most recently in our Registration Statement on Form S-1/A filed with the SEC on December 21, 2018, pursuant to which we are offering 300,000 Shares of 11% Series C Cumulative Redeemable Perpetual Preferred Stock at $25.00 Per Share.
For more information, please visit our website http://www.kinerjapay.co. There you will find access to all of our past press releases and SEC filings regarding the activities discussed in this release.
Media Contact:
KinerjaPay Corp.
Email: info@kinerjapay.co
+62-21-2918-1336
Cision
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On KPAY board?
Former Vice Chairman of the NASDAQ, David Weild, Joins Advisory Board of KinerjaPay, Indonesia's First U.S. Publicly Traded Company
Weild to Lead Board's Effort to Facilitate the Expansion of the Company's E-Commerce Platform
KinerjaPay Corp., (OTCQB: KPAY), a digital payment and ecommerce platform, ("KinerjaPay" or the "Company") today announced that David Weild, former Vice Chairman of the NASDAQ, has joined the Company's Advisory Board.
Mr. Weild currently serves is Chairman and CEO of Weild & Co. He is the former Vice Chairman of NASDAQ and head of investment banking and equity capital markets at Prudential Securities and the former President of PrudentialFinancial.com.
Mr. Weild co-authored a number of studies evaluating the impact of the modern electronic markets on the decline in equity capital formation that have been referred to by the White House, U.S. Congress, U.S. Securities and Exchange Commission, the European Commission, the Organization of Economic Cooperation and Development, the Federation of European Securities Exchanges, the G-20, the Budapest Economic Forum and numerous stock exchanges in North and South America, Europe and Asia. These studies have also been credited with contributing to the creation of the JOBS Act.
Commenting on his appointment, Mr. Weild said, "Indonesia represents one of the largest opportunities in the e-commerce sector. It is the fourth largest country in the world by population with a GDP just under $1 trillion, yet its citizens are largely underserved by the banking industry and less than 10% even have credit cards. KinerjaPay has found a way to bridge that gap, for both consumers and businesses, and I look forward to working the Company to expanding their platform across Indonesia and Southeast Asia."
Edwin Ng, Chairman and CEO for KinerjaPay Corp. commented, "We are so pleased to welcome David to the KinerjaPay Advisory Board. He has spent much of his career focusing on accelerating economic growth and improving competitiveness in the financial markets, and I expect that we will benefit greatly from his expertise as we seek to manage the accelerating growth of our user base and add services to the KinerjaPay platform."
Mr. Weild earned his MBA from the Stern School of Business and a BA in Biology from Wesleyan University and studied on exchange at The Sorbonne, Ecole des Haute Etudes Commerciales and The Stockholm School of Economics. He is also Chairman Emeritus of Tuesday's Children (http://www.tuesdayschildren.org), the noted 9/11 charity that also provides support to US military families of the fallen, first responders and set up the Resiliency Center of Newtown.
About KinerjaPay
KinerjaPay enables consumers to "Pay, Play and Buy" through its secure web portal and mobile applications. Based in Indonesia, the Company provides easy and convenient payment solution while shopping online at its marketplace platform. With its current omni-channel platform, users can perform various payment services such as credit card bill payment, utility, phone bill, healthcare insurance and direct transfer to anyone at their convenience. KinerjaPay is also planning to launch other eCommerce verticals such as travel market, delivery services, and online gaming in the near future. The Company's services are available through its mobile applications and on its website at http://www.kinerjapay.com.
Notice Regarding Forward-Looking Statements
This press release may contain forward-looking statements, about KPAY's expectations, beliefs or intentions regarding, among other things, its product development efforts, business, financial condition, results of operations, strategies or prospects. In addition, from time to time, KPAY or its representatives have made or may make forward-looking statements, orally or in writing. Forward-looking statements can be identified by the use of forward-looking words such as "believe," "expect," "intend," "plan," "may," "should" or "anticipate" or their negatives or other variations of these words or other comparable words or by the fact that these statements do not relate strictly to historical or current matters. These forward-looking statements may be included in, but are not limited to, various filings made by KPAY with the U.S. Securities and Exchange Commission, press releases or oral statements made by or with the approval of one of KPAY's authorized executive officers. Forward-looking statements relate to anticipated or expected events, activities, trends or results as of the date they are made. Because forward-looking statements relate to matters that have not yet occurred, these statements are inherently subject to risks and uncertainties that could cause KPAY's actual results to differ materially from any future results expressed or implied by the forward-looking statements. Many factors could cause KPAY 's actual activities or results to differ materially from the activities and results anticipated in such forward-looking statements, including, but not limited to, the factors summarized in KPAY 's filings with the SEC. In addition, KPAY operates in an industry sector where securities values are highly volatile and may be influenced by economic and other factors beyond its control. KPAY does not undertake any obligation to publicly update these forward-looking statements, whether as a result of new information, future events or otherwise. Please see the risk factors associated with an investment in our securities which are included in our Annual Report on Form 10-K as filed with the U.S. Securities and Exchange Commission on February 11, 2016.
For more information, please visit our website http://www.kinerjapay.co. There you will find access to all of our past press releases and SEC filings regarding the activities discussed in this letter.
Media Contact:
KinerjaPay Corp.
Email: info@kinerjapay.co
+62-8229-777-0098
SOURCE KinerjaPay Corp.
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Where’s the Coal???$@&&$&?&@$&?
John,
You know this coal thing is just another Edwin Ng KPAY fraudulent PR scam. There is no limit to how many times they wil do a pump and dump. They think because they are pink sheet SEC so t prosecute.
Hallelujah!
The Company Estimates Cash Profits in Excess of $9 million Per Year
JAKARTA, Indonesia, PRNewswire-- KinerjaPay Corp (OTCQB: KPAY), a Delaware Corporation, a digital payment and e-commerce platform Company ("KinerjaPay" or the "Company") with its business operations based in Indonesia, today announced that the Company has signed a new Indonesian bituminous coal contract with a China Construction Investment Group (Ningbo) Trading Co., Ltd. for a contract to supply up to 2,000,000 MT within the next 12 months.
At present stage, the contract's Unit Price for Indonesian Bituminous Coal in Bulk based on Coal Grade NCV 5500 kcal/kg (ARB) is USD $51.50 /MT FOB Trimmed Geared Mother Vessel at East Kalimantan, Indonesia, for a total Shipment Quantity of 80,000 Metric Tons. Total Shipment Value for the first shipment will be USD $4,120,000 with planned Delivery schedule on a bi-weekly basis for each shipment. The Company expects to deliver the contract in full, therefore expecting to bring in total Revenue up to USD $103 million in 2021, depending on the Coal Price Index throughout the year.
Once the Company completes the delivery of the contract in full, it is expected to earn at least US$9.8 million in Operating Profits on the over $100 million in total revenue. When asked about this deal, the Company's CEO & Chairman, Mr. Edwin W. Ng, commented "We have been working very hard to get this deal, and we finally did. This deal will change the Company by driving in revenues and income. We will rebuild the Company's portfolio to ramp up its sales and profitability. We hope to transform the Company in 2021 and focus more on general trading either online or offline to improve the Company's performance."
Mr. Ng further commented that "Our team has departed to East Kalimantan with the buyer this week to conduct the site survey and shipment preparation. We expect to deliver our first shipment by the end of next month. We will also work with local supplier and logistics Companies to ensure smooth delivery process, as well as PT. China Certification & Inspection Group (CCIG) to monitor the quality of the coal." Since I invested nearly $1 million into the Company last March, the Company has been generating positive cash flow without the need of the convertible loans, which have been used to finance the Company in the past three years. It is the company's intention to stay a positive cash flow company from hereout. The Company continues to be approached by institutional investors wanting to invest in the Indonesian marketplace. We believe that this coal contract will only make this easier to accomplish.
About KinerjaPay
KinerjaPay enables consumers to "Pay, Play and Buy" through its secure web portal and mobile applications. Based in Indonesia, the Company provides an easy and convenient payment solution while shopping online at its marketplace platform. With its current omni-channel platform, users can perform various payment services such as credit card bill payment, utility, phone bill, healthcare insurance and direct transfer to anyone at their convenience. KinerjaPay is also planning to launch other eCommerce verticals such as travel market, delivery services, and online gaming in the near future. The Company's services are available through its mobile applications and on its website at www.kinerjapay.com.
Only if instead of a fake fraudulent coal shipping business they finally create a real company with a product and profit. This KPAY has just repeatably come up with fake business over and over and never any revenues or profit. Just stock pumping to make the owner rich.
KinerjaPay (OTCQB: KPAY) looks to invest up to $5 million
KinerjaPay Corp., (OTCQB: KPAY), a digital payment and ecommerce platform ("KinerjaPay" or the "Company") today announced a major plan to acquire several companies ranging from competitors to product-based companies that will be sold through the Company's established infrastructure. Combined with the Company's rapid organic revenue growth, the acquisitions will accelerate the Company's market share penetration in the nascent Indonesian Market. The Company feels confident that it has nearly $5 million of funding available for the appropriate acquisitions.
KinerjaPay has had and continues to have several discussions with target companies for acquisition or partnering arrangements. KinerjaPay expects that several of these will close soon. Mr. Edwin W. Ng, the Chairman and CEO of KinerjaPay Corp. said "The Indonesian ecommerce industry is ripe for consolidation. Therefore, business partnerships and acquisitions will strengthen Company's competitive advantage and its growth. We believe several recent discussions will be fruitful."
Mr. Ng, went on to say "We are proud that we have received commitments from capital sources who see that these strategic acquisitions will propel KinerjaPay into one of the leading ecommerce platforms in the fast-growing Indonesian market. Nearly $5 million has been committed to aid the Company for such deals. These deals will propel the Company towards significant profitability."
Mr. Deddy Oktomeo, the CEO of PT. KinerjaPay Indonesia, the Indonesian subsidiary Company of KinerjaPay Corp, commented, "Our team in Indonesia have been working very hard to materialize many win-win collaborations and possible acquisitions deals, which will strengthen the core competencies of KinerjaPay in the Indonesian eCommerce and digital payment market. This endeavor will transform KinerjaPay into a much larger and significant player in the market, simply through a series of synergistic acquisitions of growing startup companies in Indonesia."
Mr. Windy Johan, the Company's CFO, commented also that, "After securing the fund and selecting the right target partners, I am confident that we can achieve exponential revenue growth as well as synergizing our operation with them to achieve cost and operational efficiency, resulting on increased profitability and ROI."
About KinerjaPay
KinerjaPay enables consumers to "Pay, Play and Buy" through its secure web portal and mobile applications. Based in Indonesia, the Company provides easy and convenient payment solution while shopping online at its marketplace platform. With its current omni-channel platform, users can perform various payment services such as credit card bill payment, utility, phone bill, healthcare insurance and direct transfer to anyone at their convenience. KinerjaPay is also planning to launch other eCommerce verticals such as travel market, delivery services, and online gaming in the near future. The Company's services are available through its mobile applications and on its website at http://www.kinerjapay.com.
Notice Regarding Forward-Looking Statements
This press release may contain forward-looking statements, about KPAY's expectations, beliefs or intentions regarding, among other things, its product development efforts, business, financial condition, results of operations, strategies or prospects. In addition, from time to time, KPAY or its representatives have made or may make forward-looking statements, orally or in writing. Forward-looking statements can be identified by the use of forward-looking words such as "believe," "expect," "intend," "plan," "may," "should" or "anticipate" or their negatives or other variations of these words or other comparable words or by the fact that these statements do not relate strictly to historical or current matters. These forward-looking statements may be included in, but are not limited to, various filings made by KPAY with the U.S. Securities and Exchange Commission, press releases or oral statements made by or with the approval of one of KPAY's authorized executive officers. Forward-looking statements relate to anticipated or expected events, activities, trends or results as of the date they are made. Because forward-looking statements relate to matters that have not yet occurred, these statements are inherently subject to risks and uncertainties that could cause KPAY's actual results to differ materially from any future results expressed or implied by the forward-looking statements. Many factors could cause KPAY 's actual activities or results to differ materially from the activities and results anticipated in such forward-looking statements, including, but not limited to, the factors summarized in KPAY 's filings with the SEC. In addition, KPAY operates in an industry sector where securities values are highly volatile and may be influenced by economic and other factors beyond its control. KPAY does not undertake any obligation to publicly update these forward-looking statements, whether as a result of new information, future events or otherwise. Please see the risk factors associated with an investment in our securities which are included in our Annual Report on Form 10-K as filed with the U.S. Securities and Exchange Commission on February 11, 2016.
For more information, please visit our website http://www.kinerjapay.co. There you will find access to all of our past press releases and SEC filings regarding the activities discussed in this letter.
Media Contact:
KinerjaPay Corp.
Email: info@kinerjapay.co
+62-8229-777-0098
SOURCE KinerjaPay Corp.
Yeah down 13% the dump is on.
Edwin Ng cashing out some more.
Back up. This is a lottery ticket. If you land on the right side of KPAY scam you win.
Not any more. All gains disappeared
Meaningless just like the past 8Ks that never materialized. They put in “expect” and “estimate”
to remain non accountable and avoid stock fraud litigation. This isn’t their first scam the investors rodeo
Like this fraudulent news prior.
There have been about a dozen scam press releases by this Kpay company over the past few years that all were pump and dump schemes and if you do your homework not one and I mean not even one of the press release stories materialized. All stock fraud violations.
This is a vital development prior to Activating its $25 Million Credit Facility
JAKARTA, Indonesia, Jan. 27, 2020 /PRNewswire/ -- The Company's representative confirms today that its local bank in Jakarta, Indonesia, China Construction Bank, Jakarta will receive a SWIFT transmission of a $30 million, Bank of China, MT-799 within this week currently being scheduled on January 29th, 2020. The MT-799 is a pre-advice transmission alerting KinerjaPay Corp's bank to accept a final transmission of the actual Bank of China MT-760 bank guarantee. The terms of our non-recourse, $25 million credit facility allows the Company to draw down a net $22.5 million evenly over three months. The first drawdown should be within days of the receipt of the MT-760. We expect to receive the final MT-760 within a short period after the banks reopen after the Chinese New Year holiday break. The MT-799 will be sent on behalf of Infinity Venture Capital Pte. Ltd., a Singaporean based corporation owned by Indonesian investors. On January 22, 2020, Infinity executed a $200 million subscription agreement for a series of convertible preferred which converts into equity at $1.80/share with a 7% annual dividend. This convertible preferred has no anti-dilution rights. Upon receipt of the first $22.5 million, the Company will deliver the same value of the convertible preferred series mentioned above. It is Infinity's intention to deliver the remaining $177.5 million in the same manner, as fast as the Company's bank will increase the credit facility to lend on non-recourse basis versus these guarantees.
Mr. Edwin W. Ng, CEO of KinerjaPay Corp. (OTCQB: KPAY) said: "We are excited to finally conclude our negotiation with our Investor to receive the Bank Guarantee that we need to begin the first equity round under the credit line process. We have gone through an extensive education to finally reach our goal of using these bank guarantees to fund our KFUND lending operations, as well as other uses that we have previously disclosed. We are still awaiting Gabriel Capital Ltd.'s right sized bank guarantee. They have been having trouble breaking up their commitment into guarantees smaller than $100 million at a time. We are also in advanced discussions with several other groups to send MT-760 guarantees acceptable to our bank. We are gratified that Infinity believes enough in KPAY's ecommerce and lending platform such that they committed equity at a substantial premium to our currently traded stock price. They agree we have a bright future! With the proceeds of the investment, we intend to pay off our convertible debt, which has been depressing the stock price, as well as advance our previously announced stock buy back program. We believe the Company's year-long attempt to raise substantial equity is nearing its end."
Down 9% on fake news about a mystery coal contract. This is obviously another of Edwin Ng and KPAY’s pump and dump scams
The whole coal thing is fake news and another in a long line of KPAY scams. Today was a new pump and dump.
Something is very fishy
That article is all and good EXCEPT where tf is the coal?
The Company Estimates Cash Profits in Excess of $9 million Per Year
JAKARTA, Indonesia, PRNewswire/ -- KinerjaPay Corp (OTCQB: KPAY), a Delaware Corporation, a digital payment and e-commerce platform Company ("KinerjaPay" or the "Company") with its business operations based in Indonesia, today announced that the Company has signed a new Indonesian bituminous coal contract with a China Construction Investment Group (Ningbo) Trading Co., Ltd. for a contract to supply up to 2,000,000 MT within the next 12 months.
At present stage, the contract's Unit Price for Indonesian Bituminous Coal in Bulk based on Coal Grade NCV 5500 kcal/kg (ARB) is USD $51.50 /MT FOB Trimmed Geared Mother Vessel at East Kalimantan, Indonesia, for a total Shipment Quantity of 80,000 Metric Tons. Total Shipment Value for the first shipment will be USD $4,120,000 with planned Delivery schedule on a bi-weekly basis for each shipment. The Company expects to deliver the contract in full, therefore expecting to bring in total Revenue up to USD $103 million in 2021, depending on the Coal Price Index throughout the year.
Once the Company completes the delivery of the contract in full, it is expected to earn at least US$9.8 million in Operating Profits on the over $100 million in total revenue. When asked about this deal, the Company's CEO & Chairman, Mr. Edwin W. Ng, commented "We have been working very hard to get this deal, and we finally did. This deal will change the Company by driving in revenues and income. We will rebuild the Company's portfolio to ramp up its sales and profitability. We hope to transform the Company in 2021 and focus more on general trading either online or offline to improve the Company's performance."
Mr. Ng further commented that "Our team has departed to East Kalimantan with the buyer this week to conduct the site survey and shipment preparation. We expect to deliver our first shipment by the end of next month. We will also work with local supplier and logistics Companies to ensure smooth delivery process, as well as PT. China Certification & Inspection Group (CCIG) to monitor the quality of the coal." Since I invested nearly $1 million into the Company last March, the Company has been generating positive cash flow without the need of the convertible loans, which have been used to finance the Company in the past three years. It is the company's intention to stay a positive cash flow company from hereout. The Company continues to be approached by institutional investors wanting to invest in the Indonesian marketplace. We believe that this coal contract will only make this easier to accomplish.
About KinerjaPay
The dump has started
You’re overthinking it. Just a lottery ticket.
Waiting for the class action lawsuit against KPAY for fraudulent stock manipulation to get my money back plus damages.
Edwin Ng probably had someone buy 20 million shares this morning for $27,000 to pump this up. Then he’ll grab another half a million in profit.
You obviously have not lived through the blatant fraudulent scams of KPAY prior. Don’t get ahead of yourself. Until there is absolute proof of something real assume this is still a scam as it has been many times before. This is just a lottery ticket. No actually worse than a lottery ticket because here there may not even be a pot.
Where’s the COAL???
So already breach of contract assuming this is not a scam and there is a contract. “Expect to” is used in every fraudulent press release KPAY has an out.
We’ve all been taken once again.
Why? Where’s the coal?
Edwin Ng,
Where are you?
Hiding on a tropical beach with all our money?
Where’s the COAL!?&@@&@&@?!!!!!
Yeah but WHERES THE COAL?!?!!&&$$!!!
Where’s the Coal?!$@$&$$&!!???
Remember “Where’s the Beef?”
Well every day for a very long time it’s going to be “Where’s the Coal?”
Where the heck is the COAL? And where’s Edwin Ng?!?!!$@&&!!!!
Very fishy for sure
Coal??????
About KinerjaPay
KinerjaPay enables consumers to "Pay, Play and Buy" through its secure web portal and mobile applications. Based in Indonesia, the Company provides an easy and convenient payment solution while shopping online at its marketplace platform. With its current omni-channel platform, users can perform various payment services such as credit card bill payment, utility, phone bill, healthcare insurance and direct transfer to anyone at their convenience. KinerjaPay is also planning to launch other eCommerce verticals such as travel market, delivery services, and online gaming in the near future. The Company's services are available through its mobile applications and on its website at www.kinerjapay.com.
Coal?????
JAKARTA, PRNewswire/ --
Mr. Edwin W. Ng, CEO of KinerjaPay Corp. (OTCQB: KPAY) said: "We are excited to finally conclude our negotiation with our Investor to receive the Bank Guarantee that we need to begin the first equity round under the credit line process. We have gone through an extensive education to finally reach our goal of using these bank guarantees to fund our KFUND lending operations, as well as other uses that we have previously disclosed. We are still awaiting Gabriel Capital Ltd.'s right sized bank guarantee. They have been having trouble breaking up their commitment into guarantees smaller than $100 million at a time. We are also in advanced discussions with several other groups to send MT-760 guarantees acceptable to our bank. We are gratified that Infinity believes enough in KPAY's ecommerce and lending platform such that they committed equity at a substantial premium to our currently traded stock price. They agree we have a bright future! With the proceeds of the investment, we intend to pay off our convertible debt, which has been depressing the stock price, as well as advance our previously announced stock buy back program. We believe the Company's year-long attempt to raise substantial equity is nearing its end."
About KinerjaPay
KinerjaPay enables consumers to "Pay, Play and Buy" through its secure web portal and mobile applications. Based in Indonesia, the Company provides an easy and convenient payment solution while shopping online at its marketplace platform. With its current omni-channel platform, users can perform various payment services such as credit card bill payment, utility, phone bill, healthcare insurance and direct transfer to anyone at their convenience. KinerjaPay is also planning to launch other eCommerce verticals such as travel market, delivery services, and online gaming in the near future. The Company's services are available through its mobile applications and on its website at www.kinerjapay.com.
The Company Estimates Cash Profits in Excess of $9 million Per Year. KPAY is the biggest turnaround story in the history of OTC stocks and we are all extremely lucky to be in on the ground floor.
Either there will be a KPAY holiday miracle or this is the biggest fraudulent scam stock ever to hit the Pink sheets.
The Tuesday business day has ended in Indonesia as they are 12 hrs ahead of us. Coal shipments should be well under way. Where the heck is the press release?!?!$@$@&&? Edwin Ng CEO where are you?
Tell me about the coal in the am and Indonesia is many hours ahead so there should already be coal activity before you wake up
Down 16%
What’s goi g on? Coal delivery by this peer to peer loan company is tomorrow. Maybe nobody believes that but why would that be? These Kpay people are stand up guys who would never mislead anyone.
??$@&@&$&?
JAKARTA, Indonesia, 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."
Mr. Ng's investment is in the form of a convertible preferred at $.10/share with no antidilution protection. This fund will also be used to support other main businesses of the Company, ie. eCommerce trades, B2B transactions, and Online Pulsa (Mobile Prepaid Topups).
When asked about the Company's future plan, the Company's Chairman & CEO, Mr. Edwin W. Ng commented "We continue to make progress with several investors to deliver the MT-760 Bank Guarantees to allow KPAY's Indonesian subsidiary to draw on its non-recourse credit line. We anticipate positively updating our shareholders shortly. I am convinced that the Company will grow and become a significant player in eCommerce as well as P2P lending. My investment will generate sales and cashflow growth. We expect to see results over the next three months."
About KinerjaPay
KinerjaPay enables consumers to "Pay, Play and Buy" through its secure web portal and mobile applications. Based in Indonesia, the Company provides an easy and convenient payment solution while shopping online at its marketplace platform. With its current omni-channel platform, users can perform various payment services such as credit card bill payment, utility, phone bill, healthcare insurance and direct transfer to anyone at their convenience. KinerjaPay is also planning to launch other eCommerce verticals such as travel market, delivery services, and online gaming in the near future. The Company's services are available through its mobile applications and on its website at www.kinerjapay.com.
Notice Regarding Forward-Looking Statements
This press release may contain forward-looking statements, about KPAY's expectations, beliefs or intentions regarding, among other things, its product development efforts, business, financial condition, results of operations, strategies or prospects. In addition, from time to time, KPAY or its representatives have made or may make forward-looking statements, orally or in writing.
Forward-looking statements can be identified by the use of forward-looking words such as "believe," "expect," "intend," "plan," "may," "should" or "anticipate" or their negatives or other variations of these words or other comparable words or by the fact that these statements do not relate strictly to historical or current matters. These forward-looking statements may be included in, but are not limited to, various filings made by KPAY with the U.S. Securities and Exchange Commission, press releases or oral statements made by or with the approval of one of KPAY's authorized executive officers. Forward-looking statements relate to anticipated or expected events, activities, trends or results as of the date they are made. Because forward looking statements relate to matters that have not yet occurred, these statements are inherently subject to risks and uncertainties that could cause KPAY's actual results to differ materially from any future results expressed or implied by the forward-looking statements. Many factors could cause KPAY 's actual activities or results to differ materially from the activities and results anticipated in such forward-looking statements, including, but not limited to, the factors summarized in KPAY 's filings with the SEC. In addition, KPAY operates in an industry sector where securities values are highly volatile and may be influenced by economic and other factors beyond its control. KPAY does not undertake any obligation to publicly update these forward-looking statements, whether as a result of new information, future events or otherwise. Please see the risk factors associated with an investment in our securities which are included in our Annual Report on Form 10-K as filed with the SEC on April 20, 2018 and most recently in our Registration Statement on Form S-1/A filed with the SEC on December 21, 2018, pursuant to which we are offering 300,000 Shares of 11% Series C Cumulative Redeemable Perpetual Preferred Stock at $25.00 Per Share.
For more information, please visit our website http://www.kinerjapay.co. There you will find access to all of our past press releases and SEC filings regarding the activities discussed in this release.
Media Contact:
KinerjaPay Corp.
Email: info@kinerjapay.co
+62-21-2918-1336
Good one!