PHI Group Inc (PHIL): I just don't get it. How can you issue...

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PHI Group Inc (PHIL)

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mythical_phenix

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mythical_phenix

Re: turn around post# 6868

Tuesday, 04/11/2017 7:56:25 AM

Tuesday, April 11, 2017 7:56:25 AM

I just don't get it. How can you issue shares to pay off a note, but have the note get substantially larger? How exactly does that work? From the latest 8-K

On April 6, 2017, the Company issued 750,000 shares of free-trading Common Stock of PHI Group, Inc. to Auctus Fund LLC, holder of a Convertible Promissory Note dated 8/16/2016 of the Company, for the conversion of $24,150.00, consisting of $20,651.71 principal amount of the Note and $3,498.29 of accrued and unpaid interest thereto, at the conversion price of $0.0322 per share. The principal amount of the Note after this conversion was $36,098.29.

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