Home Financial Markets Penny Stocks How Does The KinerjaPay (KPAY) Stock Price Increase By 454%?

How Does The KinerjaPay (KPAY) Stock Price Increase By 454%?

The payment gateway and eCommerce company KierjaPay Corporation (OTCPink: KPAY) closed Tuesday’s trading session at $0.0122, up 454.55%, and has been trading in a range of $0.0022 to $0.0123. During the day, KinerjaPay stock traded 1.46B shares compared with its average weekly volume of 258.97 M shares. The surge in KPAY stock followed the completion of its first shipment to China.

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The shipment consisted of what?

KinerjaPay’s secure web portal and mobile applications allow consumers to “Pay, Play and Buy”. The KPAY platform, based in Indonesia, offers a convenient way to pay online for shopping at its e-commerce platform.

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KPAY’s omni-channel platform enables users to pay credit card bills, utility bills, phone bills, healthcare insurance and direct transfer to anyone. A recent change in KPAY’s subsidiary company, KinerjaPay Indonesia, allows it to acquire mineral and commodity distribution, including coal.

It was announced yesterday that KinerjaPay had finished its first shipment of steam coal to China.

  • Furthermore, KPAY is also planning its next shipment within the month, which is for a 45,000 MT of cargo load.
  • East Kalimantan steam coal has been shipped to China with a total load of 53,400 MT according to the Certificate of Weight provided by the shipping agent.
  • In accordance with last week’s deadline on Friday, KPAY submitted the export document to the Bank to be processed.
  • Payment will be received by KPAY within four business days.

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KPAY’s further shipments:

After paying the supplier, Transshipment Company, surveyor, documents, and export taxes on the first 53,400 MT of steam coal, KinerjaPay (KPAY) expects to make a profit of US$170,000 on the shipment. KPAY registered an estimated gross profit of 10.6% on the basis of the final amount of the LC claim, which was rounded to US$1,602,000.

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