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https://sec.report/Document/0001493152-20-023545/ex10-39.htm
Scroll through the contract.
page 3-12
Section 2.1 Delivery Time December 29th 2020
2nd paragraph, last line
"... Failure by the Seller to deliver the goods by December 29,2020 shall be deemed as breach of contract"
Edwin never delivered any coal on time.
Also, if you look through the contract and see names, phone numbers and emails. Try calling or sending email. You will get unlisted numbers and failed email deliveries.
The contract is over and done with. He defaulted. Edwin fu...ed us again.
Your not going to see anything from Edwin. If he does financials now, it will just prove he lied about the coal shipments.
Your drug is Hopium and your pusher is Edwin.
that is what we have been saying since 2018
2018 see what happens in 2019
2019 see what happens in 2020
2020 see what happens in 2021
2021 see what happens in 2022 LOL
Some have been going through all of Edwin's crap even longer.
This is old news, what is the point unless your building a case against Edwin for his misrepresentations? If you are, you can add all his PRs regarding the several $200 million funding from various sources that he sent out starting in January of 2018.
Where are these profits coming from? Where is Edwin doing his job and updating the company financials to reflect the coal income? Did you know he was liquidating stock the company owns in another company? Where is the accounting for those sales?
I saw the price dip to .000001, now I know why. $.134 for 134000 shares. Now is the time to accumulate millions of shares for pennies. LOL
Those are shares being issued to the Toxic debt holders because KPAY can't pay back the loans, so the lenders exercise their right to be paid in worthless shares. That is why the total OS shares is over 2 billion shares, so much of the debt KPAY incurred was converted to shares. The volume of share sales is usually the toxic debt holders unloading the shares. Why do you think the share price has been dropping since Edwin announced the 3rd shipment "has been scheduled" but no announcements of delivery or payment? Edwin never confirmed payment for the 2nd and never announced any shipments after the 3rd.
The original contract was issued in December 2020. It had an automatic cancellation clause if any shipments were delayed. He should have completed 9 deliveries as of this month. He has only confirmed 1 shipment (if in fact there was a shipment delivered). I personally think he delivered 1 shipment but lost the contract because of delays.
Edwin is a scum bag and don't be surprised that he comes up with some other scheme to try and pump the price of the stock.
Ask yourself why he has not brought his SEC filings up to date if any of the shipments have been delivered. If he received $10M for the first shipment that should have had enough profit to get his financials in order and posted at the SEC.
Once again, I have tracked the 2 cargo ships he listed for shipment #1 and #2 and they move from port to port without any delays. There is no stacked-up cargo ships in China. Only in the US are there cargo ships stacked up to be offloaded because of Covid.
You think Edwin is still shipping coal? No way. There are no shipping delays to China. Both cargo ships Edwin mentioned have made several port of calls without any delays in that area.
Also, you think Edwin is preparing financials that will show he actually lied about shipment #2 and shipment #3. I am assuming shipment #1 as real but only Edwin knows. By the way, I called the numbers on that contract and the phones are not in service and the contact email address on the contract does not work too.
Probably dumping before September 28 when the major exchanges won't allow selling. Most won't allow the purchase of KPAY now.
What the hell is f'ing Edwin doing?
In a few weeks, no exchange will list KPAY.
FYI: This is the notice I received plus 3 others that own KPAY stock in TD Ameritrade in their account received the same notice. If you don't own any KPAY in TD Ameritrade, you will not receive this notice. There is also link to a PDF file listing all the securities that fall under this rule.
On September 28, 2021, new amendments adopted by the U.S. Securities Exchange Commission (SEC) go into effect to enhance investor protection and improve issuer transparency. These amendments restrict the ability of market makers to publish quotations for those companies that have not made required current financial and company information available to regulators and investors.
Ahead of the regulatory enforcement date, we will only accept orders to liquidate positions (i.e. no new buy orders) starting August 13, 2021. After the amendment officially goes into effect on September 28, 2021, it may be more difficult to liquidate these securities. Quoting and market liquidity may also be very limited.
What this means for your account(s).
You are receiving this notification because you currently hold one or more of the impacted securities in your account. We're including the list below but be aware that it may not include all of your impacted securities. There is also a chance that the impacted companies could come into compliance with the regulatory requirements ahead of this date and be removed from the list. For a current list of all securities (which is subject to change), please visit PDF version.
EWLL, KPAY,
You have multiple options to consider, such as:
Take no action. You are not required to sell these securities; however, starting August 13, 2021 we will restrict these securities to liquidation-only transactions. You may continue to hold them, but you may have difficulty selling them in the future and there is no guarantee as to what their future value will be.
Place trades to liquidate. You may place trades to liquidate these securities now. Due to the uncertainly, we cannot guarantee there will be sufficient liquidity to close your position(s) in the future.
Transfer your positions to another financial institution. Other U.S. financial institutions are also impacted by this amendment so you may have difficulty transferring them out of TD Ameritrade. If you are interested in transferring the assets, please submit any outgoing transfers requests to us. (These transactions may incur fees or commissions, depending on the asset type.)
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The Securities and Exchange Commission (SEC) amended Rule 15c2-11 under the Securities Exchange Act of 1934 on September 15, 2020. It regulates how broker-dealers initiate or resume pricing quotations for certain securities traded in the Over-the-Counter (OTC) market.
The list of restricted securities is subject to change at any time. You will be responsible for any trading decisions, including any tax consequences of such trades, and agree that TD Ameritrade will not be liable for any future appreciation of securities that were sold.
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TDA 1002296 EM 06/21
Edwin will send out press releases that boarder on misrepresentation of the facts to boost the price of KPAY. He posted that he received the payment for the first shipment but after that, no subsequent press releases that he received payments for the 2nd and 3rd shipments. In fact, no press releases that the 2nd and 3rd shipments were delivered. Plus, no press releases of subsequent shipments after the supposed 3rd shipment.
Personally, as I stated before, I still believe he did receive payment for the 1st shipment but lost the contract after that because he could not meet the minimum requirements of the contract for bi-weekly shipments and meeting delivery deadlines.
8-K filed December 14, 2020 - “As reported in the press release, the contract’s unit price for the grade of Indonesian Bituminous Coal in bulk subject to the agreement is USD$51.50 /MT based upon present pricing, with an initial shipment quantity of 80,000 MT, representing a total shipment value for this initial shipment of approximately USD$4,120,000 with planned future orders and a delivery schedule on a bi-weekly basis. “
Contract is here: Contract
He has a history of being less than honest. He took deposits from many people for land development that he developers pulled the plug on and he promised to return the money but never did. People are still waiting for him to return that money.
News Article
Further, I wrote an email to the Director of China Construction Investment Group, Chen Bing Lin and the email address was return undeliverable.
For what its worth.
TD Ameritrade and other brokers in August they restrict buy orders, then in September they will restrict selling. If you want to trade KPAY, you will have to find a broker that will allow the buying and selling of KPAY.
Hi, just curious, what is the purpose of posing old news?
Good luck, if you get a reply from Edwin, you will be the first! Thanks for your effort.
The DZ WEIHAI has not moved since it arrived in port in the Philippines from China.
I still think Edwin lost the contract because he could not meet the delivery schedule as laid out in the contract. He has not sent any PR's announcing the 2nd payment was received and he has not sent any PR's announcing the 3rd payment was received and he has not sent any PR's announcing the 4th shipment.
He has not updated the financials to stay compliant with the new SEC rules so after August 13th, it may be difficult to buy and more KPAY and after September 28th it may be difficult to sell any KPAY stock.
The other possibility is Edwin lost the contract because he could not meet the schedule of deliveries as laid out in the initial contract in December of 2020. The absence of confirmations of payments for the 2nd and 3rd shipments is an obvious red flag and is consistent with Edwin's mode of operation.
I hope I am wrong but soon, we won't be bale to trade the stock anyway for lack of Sec filings.
June 25th, Edwin's PR said " .. The vessel, MV DZ WEIHAI bound to Fangcheng, South China, is scheduled to arrive on and about ETA 28th June 2021 at Muara Jawa port, in East Kalimantan. " Where it would load the 3rd shipment of coal. It never reached Muara Jawa port, in East Kalimantan
1) June 25, the cargo ship was sailing from the port of Fangcheng, South China. to the port of Santa Cruz, Philippines.
2) July 10th, it left the port of Santa Cruz, Philippines to the port of YANG JIANG, China.
3) July 14, it set sail from YANG JIANG, China for the port of SURIGAO, Philippines.
4) July 16, it is more than half way to the port of SURIGAO, Philippines.
Seems obvious DZ WEIHAI has no coal that Edwin said will carry the 3rd shipment. It has left the port in China and is on its way back to Surigao, Philippines. Edwin has not posted any news that he has received the payment for the 2nd shipment. The letter of credit means nothing if he can't receive payment.
WTF Edwin? In his PR he announced the following:
"The vessel, MV DZ WEIHAI bound to Fangcheng, South China, is scheduled to arrive on and about ETA 28th June 2021 at Muara Jawa port, in East Kalimantan. The vessel's maximum capacity is registered at 55,741 MT max load."
Instead, it left Fangcheng harbor for Santa Cruz, Philippines harbor now it is back to YANG JIANG, China. It never stopped to pick any coal at Muara Jawa port, in East Kalimantan!
So no announcement of getting paid for the 2nd shipment (letters of credit can be cancelled any time) and the ship destined to carry the 3rd shipment never picked up any coal from the port of Muara Jawa!
Edwin is back to his old mis-information again!
According to the last PR Kinerjapay Corp. Schedules Third Steam Coal Shipment the 3rd shipment of coal would be loaded onto the cargo vessel DZ WEIHAI
"The vessel, MV DZ WEIHAI bound to Fangcheng, South China, is scheduled to arrive on and about ETA 28th June 2021 at Muara Jawa port, in East Kalimantan. "
At the time of the PR June 25th, the cargo ship DZ WEIHAI was sailing from China to the port of Santa Cruz, Philippines. It has been at that port up until yesterday when it set sail BACK to China. It never reached the port at Muara Jawa, in East Kalimantan to pick up coal by June 28th.
It is possible I don't have the right cargo ship? If anyone has any research for another ship named DZ WEIHAI, please let me now and I will track it as best I can.
No new updates that would cause the price to go up. The ship for the 3rd shipment of coal has not been in port so it can be loaded. Edwin announce a letter of credit but has not posted any news that he was paid for the 2nd shipment which was delivered at least 2 weeks ago
The cargo ship DZ Weihai that will carry the 3rd shipment has sailed from China to the Philippines. It is currently anchored off the coast of Santa Cruz, Philippines. As of June 30,2021, it has not been to Indonesia to pick up the coal cargo. The Yangtze Quantum is still anchored off the coast of Lianyungang, China
The Yangtze Quantum arrived a few days ago, look at my post #11733
I hope y'all have a sense of humor :)
Rare video of Edwins miners mining his coal for the next shipment.
Coal for next shipment
Unless Edwin shipped the coal on some other barge or cargo ship, I do not see how there would be news next week as long as the Yangtze Quantum is still anchored off the coast of the Philippines?