A micro cap absolutely ripped following the announcement that it completed its first shipment of coal to China. At a market cap of around $11 million, the company expects revenues over the next 12 months to be upwards of $100 million and profit to be around $12 million. Shares of KinerjaPay Corp (OTCPK:KPAY) more than doubled following the news.
KinerjaPay engages in e-commerce business providing electronic payment services to its customers. Its products portfolio includes Electronic Payment Service that provides a secure method to consumers and merchants to pay and transfer money using electronic devices and Virtual Marketplace. The groups Electronic Payment Services allows its consumers to pay utility bills, phone bills, credit card payments and add credit to their cell phone accounts.
Traders were extremely bullish on the news as shares hit an early session high of $0.0083/share (+277.27%) following the announcement. This move is a sign of life for the stock as it has finally broken out above the multi-month trading range it has been in.
