KinerjaPay Corp (fka KPAY)

[High_Profits]

KPAY 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.


$200 million coming - READ last PR carefully - 1st tranche coming
Pay off Converts
Start Share Buy Back

CEO "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."

https://www.otcmarkets.com/stock/KPAY/news/KinerjaPay-Corp-KPAY-OTCQB-Expects-to-Receive-Bank-Guarantee-of-30-Million?id=252258