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Source please.
I only see two redactions. To be honest, I'm looking for reasons why a PR wasn't sent out last week of funds being brought in. That's all.
Searching their IR page only brings up two RW's.
RW Registration Withdrawal Request 1 2019-10-30
RW Registration Withdrawal Request 2 2018-11-09
It seems the pages are getting smaller with less information being provided. I'm very eager for this company to do well and have been snagging shares on the way down.
I'm finding it a little challenging/misleading to make a decision on what's being provided to investors and SEC.
Interesting. Well, what I'm finding is Ng has been redacting these S-1 forms for the past year. I'm pretty new to RW's however, this seems to be a trend and I'm wondering why Edwin is closing offerings, you know?
Here's a link to the S-1 from 11-2-18:
http://app.quotemedia.com/data/downloadFiling?webmasterId=102859&ref=109745100&type=HTML&symbol=KPAY&companyName=KinerjaPay+Corp&formType=S-1&formDescription=Registration+statement+under+Securities+Act+of+1933&dateFiled=2018-11-02&CK=1494162
What are your thoughts?
K
Hey guys,
Check this out and discuss:
October 30, 2019
U.S. Securities and Exchange Commission
Division of Corporation Finance
Washington, D.C. 20549
Registration Statement on Form S-1
Filed on November 2, 2018
File No. 333-228125
Ladies and Gentlemen:
Pursuant to Rule 477 under the Securities Act of 1933, as amended, KinerjaPay Corp. requests the withdrawal of the Company’s registration statement on Form S-1, filed on November 2, 2018. The Company requests the withdrawal of the Registration Statement because the Company has decided not to proceed with the offering at this time. The registration statement has not been declared effective, and no shares of the Company’s preferred stock have been sold under the registration statement.
The Company requests that, in accordance with Rule 457(p) under the Securities Act, all fees paid to the U.S. Securities and Exchange Commission in connection with the filing of the registration statement be credited for future use.
If you have any questions with respect to this matter, please call the Lawrence Lonergan, Esq., at (973) 641-4012.
Thank you for your assistance in this matter.
Respectfully submitted,
/s/: Edwin Ng
Edwin Ng, CEO
Good morning everyone!
I just wanted to post this for some people to keep in mind the state of Indonesia's economy. Let's remember, as investors it's great to have both sides of the story. Telling other individuals their point of view is wrong will not help the collective. There are so many factors in the success of this company outside of the daily price action. If you're a day trader - trade the way you want to trade. As a long term investor, do your research outside of this website. Enjoy!
Kit
06:28 AM EDT, 10/18/2019 (MT Newswires) -- Indonesia's central bank could cut its benchmark rate for the fourth consecutive time next week to support growth in an environment where inflation remains "contained" and currency "reasonably stable," according to a research report from Australia and New Zealand Banking Group.
Bank Indonesia is expected to lower its policy rate by a further 25 basis points to 5.00%, ANZ Research economist Krystal Tan said in the note on Friday. The central bank, which has cut rates by 25 basis points at each of the last three meetings, is forecast to ease policy one more time this year, if not in October.
"Our current forecast is for policy rate to end the year at 5.00% but we acknowledge that the risk of deeper cuts is increasing," Tan said in the report.
"With the central bank keen to support growth, inflation contained and external stability under control, the door for further easing in October is open."
The report pointed out that the recent data continue to point to sluggish economic activity, supporting the case for another rate cut. Private consumption growth may be losing momentum in Indonesia as motor vehicle and motorcycle sales have collectively fallen by 5% year-over-year in the first two months of the third quarter, compared with a 1.9% decline a year ago. Consumer confidence fell for the fourth straight month in September.
On the inflation front, price pressures remain contained and will not prevent the central bank from easing monetary policy, Tan said. Both headline and core inflation are "comfortably" within its 2.5% to 4.5% target band. Given that Indonesia's trade data suggests the current account deficit likely narrowed in the third quarter relative to a year ago, the dollar-rupiah exchange rate has been "reasonably stable." The currency has been supported by continuing portfolio flows, especially into bonds, as rock bottom interest rates in developed markets continue to push investors overseas in the hunt for higher yields in emerging markets.
"Overall, we see scope for at least one more 25 basis-point cut in Bank Indonesia's easing cycle this year, if not in October," Tan said in the report. "However, we acknowledge that the risk of a deeper easing cycle is rising." The main downside risk to ANZ's forecast is a material improvement in Indonesia's balance of payments dynamics or a more aggressive-than-expected easing from global central banks that would trigger a review of its outlook.
Hi guys,
Hope you're all well. I finally had a chance to sit down and read the 10-q. It looks as though KPay may be seriously fucking up by going default on their convertible notes.. Please read and discuss!
On January 18, 2019, the Company entered into a convertible note with Tangiers Global, LLC for the principal amount of $165,000, with an OID of $15,000, convertible into shares of common stock of the Company, which matures on January 18, 2020. The note bears interest at 10%, which increases to 20% upon an event of default. In an event of default as set forth in the note, the outstanding principal balance increases by 40%. On April 15, 2019, the note was in default due to the Company being delinquent in their filings under the Exchange Act with the SEC, and therefore the note principal balance was increased by $66,000. As a result the outstanding balance of the note as of June 30, 2019, was $231,000. The note is convertible at 65% multiplied by the lowest closing price during the 15 days prior to the conversion. The discount increases by 5% discount if there is a DTC “chill” in effect., and an additional 5% if the Company is not DWAC eligible. Per the agreement, the Company is required at all times to have authorized and reserved five times the number of shares that is actually issuable upon full conversion of the note. During the first 180 days the convertible redeemable note is in effect, the Company may redeem the note at amounts ranging from 120% to 140% of the principal and accrued interest balance, based on the redemption date’s passage of time ranging from the date of issuance of the debenture. The conversion feature meets the definition of a derivative and therefore requires bifurcation and will be accounted for as a derivative liability.
The Company estimated the fair value of the conversion feature derivative embedded in the debenture at issuance at $228,000, based on weighted probabilities of assumptions used in the Black Scholes pricing model. The key valuation assumptions used consist, in part, of the price of the Company’s common stock of $0.08 at issuance date; a risk-free interest rate of 2.60% and expected volatility of the Company’s common stock, of 148.69%, and the various estimated reset exercise prices weighted by probability. This resulted in the calculated fair value of the debt discount being greater than the face amount of the debt, and the excess amount of $63,000 was immediately expensed as financing costs.
On January 25, 2019, the Company entered into a convertible note with Armada Investment Fund LLC for the principal amount of $38,500 for a purchase price of $35,000, convertible into shares of common stock of the Company, which matures on October 25, 2019. The note bears interest at 8%, which increases to 24% upon an event of default. In an event of default as set forth in the note, the default sum becomes 150% of the principal outstanding and accrued interest, and if the Company cannot deliver conversion shares or fails to reserve sufficient authorized shares, then the default sum increases to 200%. On April 15, 2019, the note was in default due to the Company being delinquent in their filings under the Exchange Act with the SEC, and therefore the note principal balance was increased by $19,250. As a result the outstanding balance of the note as of June 30, 2019, was $57,750. The note is convertible at 65% multiplied by the lowest closing price during the 20 days prior to the conversion. The conversion price shall be adjusted upon subsequent sales of securities at a price lower than the original conversion price. The variable conversion price has been adjusted to 45% of the market price, based on the conversion price of a new note on May 9, 2019. Per the agreement, the Company is required at all times to have authorized and reserved six times the number of shares that is actually issuable upon full conversion of the note. During the first 180 days the convertible redeemable note is in effect, the Company may redeem the note at amounts ranging from 115% to 145% of the principal and accrued interest balance, based on the redemption date’s passage of time ranging from the date of issuance of the debenture. The conversion feature meets the definition of a derivative and therefore requires bifurcation and will be accounted for as a derivative liability.
I'm a little new to large scale funding. I can't wrap my head around why a JV like this would help out with funding. If I were a bank I would want the ability to get my hands on assets and secure returns. This JV is great and all however, one company is able to pull out at any point if predetermined timelines aren't met and a whole slew of other arrangements. There is no guarentee for a return with this.
One company wants Singapore turf and the other is looking to create goods that they can sell on their market place, just like Amazon does with its knockoff brand.
Hiya Surfgreen,
Can you provide a source validating the claim money will be in next week?
Thanks,
Kit
That would be great, 10bagger! Do you have any sources for that statement or, is this just speculation. If so, why do you say there will be news on Wednesday?
Happy weekend,
Kit
The social sentiment is the only thing bouncing this around. RSI can point to oversold however, the 10q shows this stock is completely overpriced. It's only holding above .15 because of people loading up on pre-news. Fortunately enough, the float is low and this has been on peoples' watch list for the past two months.
We'll have to see. May the investment be with us.
Someone put in one extra 0 and lost a little bit of money there... 6:45a...
I hear what you're saying, however remember that is speculation. We need to go by hard data and the 10Q is the only thing you can really go by. Barry is looking for a quicker return. He also stated he would like to reposition in the mid .20's. Keep that in mind.
Here's Barry's predictions for $kpay starting at 6:20.
Shout out to you Eurotradr, thanks for all the great insight into how the banking system can be finicky. Is there any good resources to learn more about this??
Could there be a possibility of the banks just give up on the transaction, or does it completely depend on Kpay's ability to be diligent with meeting all banking requests?
Also, I would like to point out that the Accumulation/Distribution on Kpay looks great on the macro charts. There is a lot of loading happening and this slow down churn is mostly small-time investors unloading. We have passed through a weak resistance at .38 and we'll have to see how traders feel about .32.
Kit
Hi guys, here's a list of all Indonesian holidays for 2019.
https://publicholidays.co.id/2019-dates/
Have a great week,
Kit
Hi madtrader2132,
Remember with investing it's best not to use faith when investing. Through previous press releases and timeframes, KPAY has been notoriously late. It's scaring off a lot of traders. You're trading a company, not in the United States but in Indonesia and I, for one, have no idea of their work ethics. They could run on island time much like Hawaii, Thailand, and other relaxed places.
There are a lot of signs showing others, possibly larger investors are picking up shares on the bid. On the ten minute charts, accumulation is still rising - even with the price moving down.
There are a lot of unknowns. Faith is great in practice, just don't let it override fundamentals.
Kit
Let it steep.
Searching through my twitter I found Timothy Sykes and his followers have their eyes on KinerjaPay as well... This could be a fun ride.
https://t.co/tEn7pwwUzo - Posted a New Watchlist: 9 Hot Stocks To Watch Like $KPAY
— Timothy Sykes (@timothysykes) April 22, 2019
GeorgioD and The Rainmaker thanks for the information. Kick ass with your trades today.
GeorgioD, or anyone else for that matter, do you know what is the length of time a company must submit any change in company matter to OTC? If I were in their shoes, I would withhold the information (for as long as legally possible) to utilize that $5m for handling the convertible debt and with all that is left clean house on the share buyback. Any historical data of Edwin's business prowess supporting this theoretical scenario?
Thanks,
Kit
I would like to see the reference, I don't have time to read the full 10-k yet. Thanks.
Source please Lofdog3, thanks.
I completely agree. The 10-k is a forward-looking document using information and resources it currently has to project future cost needs. It's better to play it safe reiterating extra needed revenue to cover costs and not rely on the installments just yet.
Is this a common practice??
Many on this board have speculative timelines for earnings to be released this week, so yeah. We don't know a definitive date though.
Triple bottom- very nice.
Gonzilee,
Great points there. Do you have any information to support your points?
Thanks,
Kit
Hi ARanger51,
What's your take on the potential legal dispute over the land acquired? I see no mention of this in your post.
Regards,
K
Hi KillerMike,
Can you provide data to support your call for .40-.50 price point? Thanks!
Hey guys, I have some new DD for you on the Board Members and what they may possibly be doing:
$AHIX Looking at the list of new board members, there may be a huge push for this company to get into blockchain utilization and has products to support revenue... 🤔🤔
— Kit Kuhlman (@KitKuhlman) April 10, 2019
Hi HIM! Yeah, made an account specifically for sharing what I found for AHIX. This could be a HUGE mover. The board looks freaking legit. I am in with 200,000 shares and will continue to add if it dips below .001.
Hey guys, found some information out after a little digging.. It looks like the CEO of Colotraq is on the board of directors for $AHIX.
https://twitter.com/KitKuhlman/status/1115993748339548160