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I would say it is news because there has been lots of talk about not having any revenues. This essentially is confirming "we have, and are going to continue to have, revenues". All IMO.
Audited Financials posted on OTC website...
Doesn't the change have to be approved by FINRA anyway? Would they really approve something that would be illegal? And if they approved it, wouldn't we have the right to go after them as well?
Again, I'm not pretending to be a lawyer, but I can't imagine they would do something so blatant if it weren't legal. I'll be interested to get a real legal opinion on the matter though.
You're right...I was only focusing on the 20 to 1 change. He could have avoided it altogether by not moving the dates....and I'm angry again.
I agree. I think there is a still meat on this bone (see diversified's posts). My thoughts on the 20 to 1 (after some thought), there just aren't enough shares to go around after dilution. He's diluting the dividend so he doesn't have to dilute APR shares. That's all the positive I have from this...but it's enough for me to not make the mistake of screwing myself over (any more so than buying shares in the first place, if it ends up no bid at some point) $PHIL
Isn't that cutting off our nose to spite our face?
I didn't mind the extension when I read it in the last filing, but to move it from 5 to 1 to 20 to 1 is a joke.
I don't know enough law to speculate on the legality, but I'm willing to bet he wouldn't have done it if it were illegal. Just when you want to believe in Henry, he let's you down again. Still playing the patience game, mainly because there are things in the pipe, but with the debacle this spin off has become, it makes you question the ability to do others that would benefit us. I'm still hopeful long-term, but today is not a great day. $PHIL
New 8K is a punch in the groin to loyal shareholders. Thanks Henry.
Gotcha. Haven't seen the Ask clear out all the way .255 in a long time though. Seems weird.
Still have skin in it, or have you cleared out completely?
If they were doing a preferred stock swap with Saigon, wouldn't they have to have the authorized shares to cover if/when Saigon wanted to convert?
Just a question, I'm really not sure how that would work.
We know that shares are being sold into the market, but the float (as of 10/26) is still below 100 million.
I hear ya. We all want to make money, and some are deeper than others. I like what is being set up, only time will tell whether it happens according to Henry's plan or not. $PHIL
Sorry Space Monkey, didn't really mean that as a reply to you.
Just a hunch here, but I am starting to see things adding up really, really well. If you connect the dots, everything is pointing to the diamond/precious metals exchange that he's been talking about for a long time.
Mine- Check
Currency to trade- Check
Communications Network- Check
Packaging Materials (for sending valuables)- Check
and now with this, a construction and real estate company to get the actual building up and running- Check
Maybe it is wishful thinking (and certainly my opinion only), but seems to be lining up pretty well. $PHIL
PHI Group, Inc. (www.phiglobal.com) (OTCQB: PHIL), a U.S. diversified holding company focused on mergers and acquisitions and investments in select industries and special situations, today announced that the Company has signed an agreement to acquire 51% of Vinafilms Joint Stock Company (www.vinafilms.com.vn) with Preferred Stock of PHI Group, Inc.
According to the Stock Swap Agreement dated September 20, 2018 between the Company and Vinafilms' majority shareholder, PHI Group will issue 50 million shares of its Class A Series III Preferred Stock in exchange for 51% of Vinafilms JSC. This transaction is scheduled to close by the end of September 2018.
I guess if you read a little further it isn't closed...
He's an insider because he knows that the dividend shares are scheduled to be issued at the end of October?? SMH. $PHIL
If you ignore it, it will go away. $PHIL
I've often wondered how many shares people owned from the rubber company days, and how many of them have unloaded their shares just to get the heck out before they got hosed again. Not saying the recent dip and selling is due to those people/shares, but it's something that I've wondered about with this stock. Can't say I wouldn't panic sell if I had already been caught once before by this ticker (albeit different company).
Well, it depends on how they spin it off. If they retain a large share ownership under PHIL, then that would be under the assets of PHIL, which would help the overall value of the company (and should help the share price, should those shares eventually be worth something). If they just go full spin-off and don't retain ownership, then the dividend would be the only benefit. $PHIL
It will likely be another spin off attempt under the already created American Pacific Plastics (Wyoming). At least that's what I'm expecting. I could always be a subsidiary as well. $PHIL
Tautachrome Inc.
? @Tautachrome_Inc
24s24 seconds ago
$TTCM Persons qualified under SEC Regs S & D may purchase #KLK tokens on our https://klickZie.io website soon, Reg S imminently, and Reg D following as soon thereafter as possible. Official launch of these two web-based sales opportunities will be announced as they go live.
Tautachrome Inc.
? @Tautachrome_Inc
2m2 minutes ago
$TTCM is pleased to announce that per SEC Reg S non US persons, & per SEC Reg D accredited US persons, can now purchase #KLK #tokens from the company. The submission of SEC reg A+ is imminent which, when & if qualified, allows US non accredited persons to also purchase KLK tokens
I think we're all expecting (hoping) for details on the dividend that they announced awhile back. IMO $MSPC
And I would bet that a lot of those shareholders are overseas (Vietnam). $PHIL
Sent a message to the Gildex page on Facebook to see if there were any further details on the "proprietary exchange" they appear to be planning. Hoping for time lines and expected revenue, although I'm guessing it is to early to project any type of revenues. It is an interesting development considering they are planning a physical diamond/precious metals exchange as well.
Facebook appears to have posts from whoever is running it from 4 days ago, so someone is still looking at it. Fingers crossed. $PHIL
Makes complete sense! Thank you!
Short-term, I very much agree. Which is why this hit .02 not too long ago.
On that note, I do believe that we saw some sellers today because the time frame for potential returns is months away, if not longer, and the OTC isn't known for people that wait too long.
Indeed, that's why I believe that all the questions are going to be answered by the time he starts to pitch to them. I would be skeptical of anyone that listened to that presentation and wouldn't agree they have an impressive network for their product in place.
Now if anyone wants to be skeptical of the SS, dilution, and debt, I completely understand that point of view.
The main question is (and always is) can their revenue overcome the SS and debt? No one really knows that answer to that question, which is why this is all about risk/reward.
Techy question for ya:
From what I was hearing about their acquisition and partnership strategy, it sounded like customers were looking more for an integrated solution, rather than purchase Classidocs as a stand alone software. To me, I gathered that feedback has fueled their current strategy to be able to incorporate Classidocs with other, already existing, platforms. Do you think they're focusing more on the acquisitions and partnerships to get away from a stand-alone product? Or am I reading too much into it?
Agreed. The CC just confirmed what others have been saying all along. The start-up was going to come with a large cost, and now they're working on getting the revenue streams moving. This is a longer term play than a lot of people were hoping. But with 1 acquisition already in place and 4 more in the works, they are moving in the right direction. All IMO.
I would agree that it is certainly disappointing. I would also suggest that no one is ever happy when their stocks go down. I've voiced on here on several occasions, and even emailed Henry directly, to urge greater communication, so far, not much has come from it.
I will also say that I don't believe that Henry is shady and trying to sell shares to pay his salary. I think with the news he has dropped about partnerships and acquisitions, that the need for capital outweighed the current shareholders opinions (and yes, I know that sucks, but truthfully, do we want any CEO running their company on the desires of their shareholders?)
I do believe that Henry feels what he is doing will eventually lead to much higher prices (which is good for shareholders), who knows if that will come to fruition? If it were a guarantee, we would have never been able to buy at .01, or .05, or wherever each of us bought.
I've also said on here before that deals in Vietnam can be tricky due to all the government interference that is typically involved. It appears that Henry is being very deliberate with partnerships and relationships to make sure he stays on the right side of them, and that is always slower than expected and, unfortunately, usually more costly than expected.
I'm disappointed in the share price. I'd love for everything to fall into place and be clear and concise. But in the end, I see things are getting done, so I haven't lost any faith in the long-term prospects, which is why I'm still here. When I stop posting, you'll know I'm done.
All my opinion, as usual. $PHIL
Great reason to trade.. I've made plenty on moves like that. Hold a core position and flip some for profit. $PHIL
I'm Tina Phan and I speak directly to Henry about everything that everyone posts on this board.
Or that's a complete lie (which it is) and just about every stock I've ever seen on the OTC bumps in price when the executives announce they've purchased a significant amount of stock. Most investors find this a vote of confidence in the company.
And just like they file when they purchase stock, they have to file when they sell the stock, so if you're insinuating illegal flipping of stock by insiders, you'll want to start an inquiry with the SEC because I haven't seen any filings (nor could I find any) that show any executive has sold stock. $PHIL
Looking forward to the update, whatever it may be that he tells you! $PHIL
I believe he is going to finance some of these deals with shares instead of capital (which isn't uncommon) and needed the flexibility to give out what he felt was necessary. I would also like to know what he is planning on issuing and for which deals. Let's still remember, while the A/S has increased, it doesn't mean he's going to issue all of them. At this point (yes I know it can change, and likely will), we're still at a fairly low O/S number compared to the rest of the OTC.
Just my thoughts. I know we're all waiting/hoping to hear something definitive from Henry soon. $PHIL
The PR, that was publicly posted, gave September 30th as the date the plastics deal was to be officially completed. August was always fictitious date that someone put out there that they'd be angry if things weren't released. $PHIL
Not sure why I bother, but the end of October is the date for the APR dividend shares to be distributed. $PHIL
I hear ya... this hasn't been easy to watch. I really do believe Henry is doing what he thinks will bring big value. (Remember, he's a pretty big shareholder himself, as are other officers). whether the gamble pays off, only time will tell. $PHIL
Indeed. Just wanted to make sure everyone on the board here knew (for certain) that Henry is at least aware of our concerns. He is, now we'll see how he responds publicly. I still believe in $PHIL