Item 8.01 Other Events
KinerjaPay Corp (OTCBB: KPAY), an Indonesian-based Delaware corporation engaged
in e-commerce and digital payment services, among other businesses, today
announced in a press release attached as Exhibit 99.1 hereto, a that the Company
has signed a new Indonesian bituminous coal contract with a China Construction
Investment Group (Ningbo) Trading Co., Ltd. for a contract to supply up to
2,000,000 Metric Tons (MT) in or about 12 weeks. The agreement with China
Construction Investment Group (Ningbo) Trading Co., Ltd is attached as Exhibit
10.39 hereto.
As reported in the press release, the contract's unit price for the grade of
Indonesian Bituminous Coal in bulk subject to the agreement is USD$51.50 /MT
based upon present pricing, with an initial shipment quantity of 80,000 MT,
representing a total shipment value for this initial shipment of approximately
USD$4,120,000 with planned future orders and a delivery schedule on a bi-weekly
basis. KinerjaPay expects to deliver the contract in full and, as a result,
expects total gross revenues of up to USD$103 million in 2021(which estimate is
dependent on the Coal Price Index throughout the year), from which the Company
anticipates generating operating profits of approximately USD$10 million in
2021.
Item 9.01 Financial Statements and Exhibits
(b) The following documents are filed as exhibits to this current report on Form
8-K or incorporated by reference herein. Any document incorporated by reference
is identified by a parenthetical reference to the SEC filing that included such
document.
Exhibit No. Description
10.39 Sales and Purchase Contract of Indonesian Coal dated December 2,
2020, filed herewith.
99.1 Press Release dated December 14, 2020, filed herewith.
© Edgar Online, source Glimpses