Coal?????
JAKARTA, PRNewswire/ --
Mr. Edwin W. Ng, CEO of KinerjaPay Corp. (OTCQB: KPAY) said: "We are excited to finally conclude our negotiation with our Investor to receive the Bank Guarantee that we need to begin the first equity round under the credit line process. We have gone through an extensive education to finally reach our goal of using these bank guarantees to fund our KFUND lending operations, as well as other uses that we have previously disclosed. We are still awaiting Gabriel Capital Ltd.'s right sized bank guarantee. They have been having trouble breaking up their commitment into guarantees smaller than $100 million at a time. We are also in advanced discussions with several other groups to send MT-760 guarantees acceptable to our bank. We are gratified that Infinity believes enough in KPAY's ecommerce and lending platform such that they committed equity at a substantial premium to our currently traded stock price. They 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."
About KinerjaPay
KinerjaPay enables consumers to "Pay, Play and Buy" through its secure web portal and mobile applications. Based in Indonesia, the Company provides an easy and convenient payment solution while shopping online at its marketplace platform. With its current omni-channel platform, users can perform various payment services such as credit card bill payment, utility, phone bill, healthcare insurance and direct transfer to anyone at their convenience. KinerjaPay is also planning to launch other eCommerce verticals such as travel market, delivery services, and online gaming in the near future. The Company's services are available through its mobile applications and on its website at www.kinerjapay.com.
