Does the SEC even investigate otc companies? Edwin Ng is lying over and over again. I did quite a bit of investigation into kpay and many things didn't add up.
First, it's really strange that Ng is obsessed with getting a $200 million dollar loan. A company of this size would be lucky to get a $5 million dollar loan. Also, I read where Ng bought around 35,000 shares of kpay awhile back for around $1.80. Maybe that's why he wants to sell warrants to buy kpay for $1.85.
It would be interesting to hear from Indonesians who have used kpay, but the few who have posted here had very negative things to say about the company.
Go to Seeking alpha for kpay's recent filings. In the last quarter, their revenue was $167,000 and their losses were $4,273,000. In the last six months, they've lost over $12,000,000.
Do you really think someone's going to loan them money with those numbers? Go check for yourself.
