Future Acquisition's Impact on KinerjaPay Corp. First Quarter Sales

JAKARTA, Indonesia, June 4, 2018 /PRNewswire/ --

KinerjaPay Corp., (OTCQB: KPAY), a digital payment and e-commerce platform, today announced that the merger with PT. Kinerja Indonesia will provide several synergetic significant benefits to KPAY upon the expected consummation this year. These are: 1.) The ability to own and control its own cloud technology and server farm. This will allow KPAY to offer all Indonesian businesses the ability to have their own online business without major infrastructure development. Indonesia is 5-10 years behind the online transaction penetration that occurs in the United States, Europe and China. Cloud computing will be one of the fastest growing industries and this acquisition positions KPAY to be among the industry leaders in Indonesia. 2.) Allow KPAY under US GAAP accounting rules to report sales results that follow the way the company is truly organized, and the way management is incentivized. First quarter gross revenue would have been $1,693,723 versus negligible revenue in last year's first quarter. This acquisition allows the company's income statement and balance sheet to accurately depict the way the company runs itself.

Total transactions increased nearly 691.6 % in this year's first quarter. The company's focus on business to business customers was the main reason for the dramatic growth. The company recorded 202,786 transactions versus only 29,321 in the same period in 2017. Mr. Edwin Ng, Chairman and CEO of KinerjaPay said: "We continue to see excellent transaction growth in 2018.  We believe that the addition of cloud computing as a service will also allow our growth to continue to accelerate."

About KinerjaPay 

KinerjaPay enables consumers to "Pay, Play and Buy" through its secure web portal and mobile applications. Based in Indonesia, the Company provides 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 http://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 U.S. Securities and Exchange Commission on February 11, 2016.

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 letter.

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

SOURCE KinerjaPay Corp.