KinerjaPay (OTCMKTS:KPAY) stock is on a wild ride Wednesday as the company saw shares rocket higher this morning before a massive fall. This comes after the e-commerce company announced yesterday it completed its first coal shipment to China.
Here’s everything investors need to know about KinerjaPay and KPAY stock.
- KinerjaPay operates an e-commerce platform that allows users to handle a variety of services.
- That includes ‘credit card bill payment, utility, phone bill, healthcare insurance and direct transfer to anyone.”
- To go along with this, the company is also preparing to launch other e-commerce options.
- Among them are travel, delivery services, and online gaming.
- Users can make use of the offerings from the company via its website, as well as from its mobile app.
- KinerjaPay is based out of Indonesia.
- The recent coal shipment news includes 53,400 MT steam coal.
- KPAY expects this delivery to net it minimum profits of $170,000.
- The shipment saw it sending steam coal from East Kalimantan to China.
- KinerjaPay is also preparing for another major coal shipment.
- This will have it sending 45,000 MT steam coal via ship.
- That ship is set to start loading up the coal on Saturday.
Edwin Ng, CEO of KinerjaPay, said this about the news moving KPAY stock today.
“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.”
KPAY stock was down 21.3% as of Wednesday morning.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.
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