KinerjaPay Corp (OTCMKTS:KPAY) Is A Fast Growing Penny Stock

KinerjaPay Corp (OTCMKTS:KPAY) is currently enjoying one of the biggest price hikes in the market.The company which begun the month trading at just about $1 went up to highs of $2.4 during the month, closing Thursday at $2.28 a share. Furthermore, the traded volumes also went up to nearly 1.5 million shares during the period from just over 0.5 million in the previous month.The above price action and share turnover can be seen in the chart below: KPAY Daily ChartWith the above being the case, we have opted to take a closer look at KPAY and assess their current situation, the reason behind the high valuation and finally their future prospects. This report is a summary of our findings.A Look At KPAYBefore going deeper into the company’s operations, let us first have a brief look at their history.KinerjaPay Corp was first incorporated in Delaware in 2010. This came after they entered into a license agreement with Indonesian company, PT Kinerja Indonesia, which granted them an exclusive, worldwide license to use and commercially exploit the KinerjaPay IP and its website. The website is an e-commerce platform used by their clients for online shopping and bill transfers through the provision of an online wallet.Furthermore, it users the ability to directly top-up phone credit: among the first of its kind.The company later launched KinerjaMall and was hoping to further boost their service line by adding features such as KinerjaGames and KinerjaTravel soon after. Since then, the company has reported transaction volumes having risen to over 70,000 transactions as compared to 29,321 in the first quarter of 2017, a significant increase in their popularity with users. Furthermore, they received over 2,600 deposits in the second quarter, up from 1,133 in the first quarter of 2017.With the above in mind, we believe that the company has done a lot to ensure that they are in business. As such, we went further to assess their value addition proposition as follows.KPAY: The Value AddThree months back, KPAY shocked the market when they announced their numbers. The company had just received the boost they needed as their transaction volumes went up from 70,000 in the second quarter to 200,000 in August alone. The increase was attributable to the increased awareness of KinerjaPay and its products.Furthermore, the average transactions per day went up to 6,442 in August, symbolizing approximately $923,683 up from 3,268 in July: $387,116. The above spoke to the growth in vibrancy of their system as well as the payoff received from their marketing campaign and this was highly welcome by management.According to their CEO, Edwin Ng:

"We've really been able to harness the power the KinerjaPay platform over the past few months. As more consumers and businesses link to our products and services, we become a natural e-commerce solution for both sides."

Source:A month later, the company announced a new partnership which was meant to set them up into the global space: a partnership with the international cab company Uber.With Uber having presence in over 77 countries and over 633 cities, 40 million riders and over 2 million drivers worldwide, KPAY will benefit from the mutual agreement with the company globally.The partnership would grant KPAY an exclusive promotion code for first time users valid for four rides. The code would be based on the clients creating an account and meeting certain thresholds in terms of their spending. Currently, users can benefit from redeeming the code in any Uber car. Eventually, the company is expectant that this will serve as a strong marketing strategy for them and ensure that their sales grow long into the future.With the above in mind, the value proposition arising from KPAY seems to be quite strong and going forward, the company is expected to rise much higher than it already has especially if their financial position grows as it is expected to.FinancialsThe last of their announcement was on the financial position.The company’s revenues grew by nearly twelvefold as they closed the third quarter with revenues of over $1.76 million up from $148,000 in the second quarter. However, this seems to have been overshadowed by their costs of sales which stood at over thus $1.8 million leading them to a loss position.Despite this, their net loss position fell from $2.7 million to $526,000 in the third quarter. Finally, their operating cash flows fell from a deficit of $511,000 to a deficit of $320,000. Furthermore, their working capital position stood at $67,000 which serves to finance their capital position.As such, despite a few hiccups, the company seems to have done a lot to ensure they make money long into the future. A lot of strategic moves are expected to payoff long into the future. As such, we are quite bullish about the stock.ConclusionKPAY is growing on strong into the future. A lot has been done to ensure that they continue to maintain the same trajectory they have had. As such, growth is imminent for KPAY.We will be updating our subscribers as soon as we know more. For the latest updates on KPAY, sign up below!Disclosure: We have no position in KPAY and have not been compensated for this article.Image courtesy of sponselli via Flickr