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Monday, October 18, 2021

Kinerjapay Corp (OTCMKTS: KPAY) Major Move as Co Ramps Up Steam Coal Shipments to China

Kinerjapay Corp (OTCMKTS: KPAY) is rocketing up the charts after the Company reported its subsidiary KinerjaPay Indonesia just completed its first shipment of Steam Coal to China. Subsequently the Company is also announcing its next shipment schedule within the month, for another cargo load of 45,000 MT. According to the press release the Company expects revenues in excess of $100 million and profits of $12 million over the next 12 months. 

KPAY traded over a billion shares on Tuesday alone topping $17.5 million in dollar volume on the day as the stock moved well into copperland. KPAY is quickly emerging as an investors favorite and is currently among the most actively searched and talked about stocks in small caps. Currently under heavy accumulation KPAY is moving steadily northbound with many new investors buying in every day. KPAY is looking to blaze a path along the likes of Enzolytics or Tesoro and break out into a whole new dimension – Tesoro went to multi dollars – a break over $0.022 and its blue skies ahead. At 2 billion shares outstanding KPAY has a more attractive share structure than ENZC does. 

Kinerjapay Corp (OTCMKTS: KPAY) 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.

In March the Company posted an update about its coal shipments to its buyer in China. The Company has started the loading of 55,000 MT of coal to the mother vessel at East Kalimantan in the last week. The loading process was slightly delayed from February 2021 due to the slight delay of Mother Vessel’s arrival and Quality Assurance processes by the quality inspection team of the buyer. As of today, the Company has started to load the coal to the barge vessel which could load up to 7,500 MT per boat. The Company has started the loading the first of seven barges, all of which will take up to two weeks to complete. Upon completion of loading the first vessel, the Company shall be able to claim payment from the buyer by submitting all shipping documents to the Bank. 

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On May 11 KPAY announced its subsidiary Company, P.T. KinerjaPay Indonesia just included its first shipment of Steam Coal to China. Subsequently the Company is also announcing its next shipment schedule within the month, for another cargo load of 45,000 MT. The first shipment of steam coal from East Kalimantan to China has been completed with total load of 53,400 MT based on the Certificate of Weight being produced by the shipping agent. The Company has submitted the export documents to the Bank as per last week Friday for processing. The Company should receive payment within 4 business days.  

The Company has estimated that the shipment of the first 53,400 MT steam coal to produce a minimum profit of US$170,000 after deduction of all payables to supplier, transshipment company, surveyor, documentations and export taxes. Based on the final sum of LC claim, which is rounded at US$1,602,000, the Company registered an estimated gross profit of 10.6%. 

Subsequently, the Company is now progressing on the next shipment of 45,000 MT steam coal with Coal Grade NAR 3,800 kcal/kg (ARB) with specifications of Ash Content at 5% ADB Rate, Moisture max 38%, and Sulphur 0.3% ADB Rate. The mother vessel MV. YANGTZE QUANTUM – VOY 2101 has dropped anchor at Muara Berau East Kalimantan with estimated commended loading schedule on May 15th 2021. 

Mr. Edwin Ng, CEO of KinerjaPay Corp said “Despite the recent inclement weather we delivered our first shipment of coal. The demand for Indonesian coal in China is rising rapidly. We have signed on several other orders. We continue to expect revenues well in excess of $100 million and profits of over $12 million over the next twelve months now that the shipments have started. The cash flow from the coal commodities trading business will be very significant this year. We believe that this is a long run sustainable business that identifies KinerjaPay Corp. as a leading investment vehicle on Indonesian economic growth.” 

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KPAY is rocketing up the charts after the Company reported its subsidiary KinerjaPay Indonesia just completed its first shipment of Steam Coal to China. Subsequently the Company is also announcing its next shipment schedule within the month, for another cargo load of 45,000 MT. According to the press release the Company expects revenues in excess of $100 million and profits of $12 million over the next 12 months.  KPAY traded over a billion shares on Tuesday alone topping $17.5 million in dollar volume on the day as the stock moved well into copperland. KPAY is quickly emerging as an investors favorite and is currently among the most actively searched and talked about stocks in small caps. Currently under heavy accumulation KPAY is moving steadily northbound with many new investors buying in every day. KPAY is looking to blaze a path along the likes of Enzolytics or Tesoro and break out into a whole new dimension – Tesoro went to multi dollars – a break over $0.022 and its blue skies ahead. At 2 billion shares outstanding KPAY has a more attractive share structure than ENZC does. We will be updating on KPAY when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with KPAY.

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Disclosure: we hold no position in KPAY either long or short and we have not been compensated for this article.

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