KinerjaPay Corp (fka KPAY)

[john26632]

While in the process of due diligence, I couldn't help but notice the the gaming company that KPAY signed an 18 month agreement with only has 1 game listed on their web site. http://acelegends.com/
With the money and stock that they are paying them, you would have thought they could have partnered with a more established gaming company. Has anybody discussed this with IR?


Kinerjapay to Expand its Ecommerce Platform With Launch Of Kinerjagames
•August 11, 2017Comment
KinerjaPay Corp., (KPAY), a digital payment and ecommerce platform, ("KinerjaPay" or the "Company") today announced the plans to expand its digital ecommerce platform with the launch of KinerjaGames. The Company has entered a long-term License Agreement (the "Agreement") with Ace Legends Pte. Ltd ("ACE"), a Singapore-based game developer.

On July 31, 2017, the Company entered into an 18 month license agreement through January 31, 2019, with Ace Legends Pte Ltd. (the “Service Company”) for an exclusive, world-wide license to acquire and market the games currently owned and developed by the Service Company. In consideration for receiving the license and for becoming the game publisher for all of the Service Company’s games indefinitely, the Company agreed to pay to the Service Company $100,000 in four installments of $25,000 each. In addition, the Company agreed to issue to the Service Company 80,000 restricted shares of common stock, which shall be deemed fully paid.
The Company shall pay to the Service Company royalty fees of 21% of all sales generated under the license agreement, which payments shall paid on a quarterly basis. PT KinerjaPay Indonesia, the subsidiary of the Company, shall also pay a monthly fee of $5,000 to the Service Company during the 18 month term of the license agreement for further business development.