KinerjaPay Corp. Updates Coal Shipment Progress: Company has started loading the first boat; Foresees over $100 million in revenue over the next 12 months

JAKARTA, Indonesia, March 24, 2021 /PRNewswire/ -- KinerjaPay Corp (OTCPK: KPAY) a Payment Gateway and Ecommerce Company based in Indonesia with recent changes in its subsidiary Company, P.T. KinerjaPay Indonesia, to include mineral and commodity trading such as coal and other general commodities, today 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.

Mr. Edwin Ng, CEO of KinerjaPay Corp said, "Despite the slight delay in the arrival of the Mother Vessel, we are now on schedule for monthly deliveries to our buyer. We anticipate revenues over the next 12 months to be in excess of $100 million with profits of excess of $12 million. We continue to seek out other buyers for the Indonesian coal as well. We are excited to have this business get off the ground."

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.

Notice Regarding Forward-Looking Statements 

This press release may contain forward-looking statements, about KPAY's expectations, beliefs or intentions regarding, among other things, its product development efforts, business, financial condition, results of operations, strategies or prospects. In addition, from time to time, KPAY or its representatives have made or may make forward-looking statements, orally or in writing.

Forward-looking statements can be identified by the use of forward-looking words such as "believe," "expect," "intend," "plan," "may," "should" or "anticipate" or their negatives or other variations of these words or other comparable words or by the fact that these statements do not relate strictly to historical or current matters. These forward-looking statements may be included in, but are not limited to, various filings made by KPAY with the U.S. Securities and Exchange Commission, press releases or oral statements made by or with the approval of one of KPAY's authorized executive officers. Forward-looking statements relate to anticipated or expected events, activities, trends or results as of the date they are made. Because forward looking statements relate to matters that have not yet occurred, these statements are inherently subject to risks and uncertainties that could cause KPAY's actual results to differ materially from any future results expressed or implied by the forward-looking statements. Many factors could cause KPAY 's actual activities or results to differ materially from the activities and results anticipated in such forward-looking statements, including, but not limited to, the factors summarized in KPAY 's filings with the SEC. In addition, KPAY operates in an industry sector where securities values are highly volatile and may be influenced by economic and other factors beyond its control. KPAY does not undertake any obligation to publicly update these forward-looking statements, whether as a result of new information, future events or otherwise. Please see the risk factors associated with an investment in our securities which are included in our Annual Report on Form 10-K as filed with the SEC on April 20, 2018 and most recently in our Registration Statement on Form S-1/A filed with the SEC on December 21, 2018,  pursuant to which we are offering 300,000 Shares of 11% Series C Cumulative Redeemable Perpetual Preferred Stock at $25.00 Per Share.

For more information, please visit our website http://www.kinerjapay.co. There you will find access to all of our past press releases and SEC filings regarding the activities discussed in this release.

Media Contact:

KinerjaPay Corp.
Email: [email protected] 
+62-21-2918-1336

SOURCE KinerjaPay Corp.

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