Replies to post #5006 on KinerjaPay Corp (fka KPAY)

[236T568]

Well, thanks for verifying that the whole Wahana $200 million cash investment into KPAY was a FRAUD from the beginning

not surprised though

and why is this not surprising?

because this is what scam companies do!

Wahana has no control over the release of funds... period. They provided a SWIFT MT760 from an unknown bank that was confirmed received in KPAY's account. It is now 100% in the hands of the bank "syndication" as to whether they release funds against the guarantee or not.

I have repeatedly asked Anglea Wong and Pak Edwin for the name of the bank issuing the guarantee(s)and always get the same answer from Angela (again last night) that she has no access to this information and her scope with the company is very limited.

If these are "leased" instruments which is my guess and have said here many times in the past, they will NOT get any money. This would explain them not releasing the bank name, the continued delays, and their silence. There is only one logical reason for them not receiving funds thus far and that is "leased" instruments, not some ridiculous upfront bank fees (like a Nigerian scam)or government regulation... "leased" instruments which DO NOT come from investment grade banks!!

JMHO

[MIKE2OO5]

Don’t want to sound like a smart ass but the bank would be public interest so for you to get the info from Anglea or Pak could be troublesome, now that being said would not surprise me if they had to try numerous ways to make this work and hopefully we hear something in the near future from the COMPANY!

[Jeffster1]

Still talking about the mysterious money from Wahanna that never happened!!!! LOL Wait I have some nice swamp land in FL for sale too bahahaha!

[MIKE2OO5]

Here is the info from the COMPANY now funds won’t be accessible till next week but we do know details now!

“”””””KinerjaPay Corp has successfully concluded negotiations with its local bank, China Construction Bank Indonesia (CCBI), which will provide the Company with a $25 million, non-recourse credit facility. This credit facility will be accessed by the Company utilizing the Gabriel Capital Ltd. ("Gabriel") HSBC bank guarantee, the draft of which has already been approved by the Bank's Credit Committee. Gabriel is a privately-owned, Indonesian family controlled entity, based in Singapore. The final HSBC bank guarantee for $25 million is expected to be received in KinerjaPay's account with CCBI within the week. Upon delivery of the collateral, KinerjaPay will draw down the guaranteed net proceeds of $22.5 million in three monthly tranches of $7.5 million commencing within 48 hours of receipt of the final bank guarantee. Upon each draw, KPAY will issue Gabriel a proportionate number of shares of Series F and G Preferred Stock under Gabriel's executed Reg S Subscription Agreements, based upon the net subscription proceeds. Gabriel intends to continue delivering such guarantees until the full $200 million is received under these Subscription Agreements.

CCBI will fund on a non-recourse basis supported by the collateral underlying the Gabriel guarantee. In effect, Gabriel is making an equity investment in KinerjaPay Corp.'s Preferred Stock, which is being issued in consideration for Gabriel's guarantee. The Series F Convertible Preferred Stock is convertible into shares of Common Stock at an average of $1.80 per share. The Series G Preferred Stock provides for KPAY's sole right to affect the conversion into Common Stock at $1.80 per share provided that the KPAY shares are trading at $3.50 or higher for a period of 20 days commencing six months after the dates of issuance of the Series G Preferred Stock. Gabriel, however, does not have the right to elect to convert the Series G Preferred Stock at its option. “”””””””