KinerjaPay Corp. (OTCPK:KPAY) announcd that it has entered into subscription agreement with Infinity Venture Capital Pte. Ltd. to issue series of convertible preferred shares for gross proceeds of $200 million on January 22, 2020. The convertible preferred shares will convert into equity at a price of $1.80 per share with a 7% annual dividend. The convertible preferred has no anti-dilution rights. The convertible preferred has no anti-dilution rights. Upon receipt of the first $22.5 million, the company will deliver the same value of the convertible preferred series mentioned above. It is investors's intention to deliver the remaining $177.5 million in the same manner, as fast as the company's bank will increase the credit facility to lend on non-recourse basis versus these guarantees.