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DJK, Do you know whether any investments into the fund can be dispursed for projects yet or are all of the companies involved (as well as VN gov) waiting for the same things we are in order to begin work?
Just some PHIL OG's around when the numbers temporarily turn south... ;)
lol, me too. Actually getting some work done today ;)
Today is less fun than yesterday, lol... but let's see what tomorrow brings.
DVA, what is your interpretation of this?
See where CSTI is parked on Level Two to understand where this is headed! $50.01 - NOT a typo!
I can't figure Mini out, lol... He's all over the place usually.
I'm not on Twits, but just popped over and what did I see NewYorkCityBoss!
lol... You are hustlin' my friend :)
FACT Check true.
But only if you behave. LOL
PHIL DEC 29 8K moving the buyback period.
BE IT RESOLVED, that the Corporation is authorized to repurchase its own shares of common stock from the open market from time to time in accordance with the terms mentioned below:
1. Purpose of Repurchase: To enhance future shareholder returns.
2. Details of Repurchase:
a. Class of shares to be repurchased: Common Stock of PHI Group, Inc.
b. Total number of repurchasable shares: Up to 15 billion shares, or more as may be needed.
c. Total repurchase amount: To be determined by prevalent market prices at times of transaction.
d. Methods of repurchase: Open market purchase and/or negotiated transactions.
e. Repurchase period: As soon as possible until June 30, 2021.
f.
The Company intends to fund the proposed share repurchase program with the proceeds from the disposal of a portion of certain non-core assets and from anticipated revenues of the Company.
https://fintel.io/doc/sec-phil-8k-phi-group-2020-december-29-18625
Wednesday would be the perfect day for 2019 financials to post.
Let today run on volume/interest momentum only, stabilize somewhat tomorrow, then 2019 filing update, wait a few more days then next week 2020 filing update, followed by CC and PR's.
HaHa! Maybe if PHIL hits $1 ;)
Hard to get any work done today, lol... hardly 5 minutes without checking on PHIL and this board.
*Refresh*
*Refresh*
*Refresh*
LOL
Let's pull back to .0001 for just about 5 minutes, lol...
I know what you mean. I had 7m with Fidelity. But then couldn't get more b/c of stop sign. So opened ETrade acct. just for PHIL. Accumulated 8m more for a total of 15, 100$ at a time every few weeks or so... I'm no high roller, lol.
Same.
Same here. I don't have enough to risk. Will wait to see where it stabilizes after the upcoming catalysts - filings and new OS #, as well as CC info re: direction of the company.
All of this flipper volume and twitter attention is fun - causing a huge run with no news.
When news hits it will be even more fun.
Current filings
OS reduced
Vinafilms revenue (?)
Philux Global Lux Fund & projects
IMO this is the only way we now get to the o/s reduction we need long term, so let's hope when Henry says buyback hasn't started yet he's referring to open market purchases only. If that turns out to be the case I would still consider that to be a true statement ;)
Right. I'm not so concerned with all that as the buyback plan IS public knowledge and the announced purchase period is now..."As soon as possible until June 30, 2021"
What I am concerned about is Henry's direct statement, to your point, which if true means buyback at significantly higher prices.
BTW. My understanding is that Henry is not required to announce when or if buyback has actuslly started once the public announcement of the buyback plan has been made...which of course it has. He is however required to show in quarterly filings after the fact...
Still haven't found anything specific re: whether filings must be current before buyback, I know that's been well debated on the board.
I believe this covers purchases on the open market under safe harbor...here you find privately negotiated purchases are not covered under safe harbor. Note privately negotiated repurchases are not bound by daily volume limitations...could be also for price restrictions?
"Are privately negotiated repurchases covered by the Rule 10b-18 safe harbor?
No. In a no-action letter, the SEC declared that privately negotiated repurchases are not eligible for the Rule 10b-18 safe harbor,15 noting that privately negotiated purchases typically present little potential for manipulative practices and therefore do not require the protection of the safe harbor. Even though a company effectuating a privately negotiated repurchase may not avail itself of the rule’s safe harbor, it must nevertheless consider the applicability of the Exchange Act’s general anti-fraud and anti-manipulation provisions. Helpfully, shares repurchased pursuant to a privately negotiated repurchase are not computed into a company’s daily volume limitation, so a company may privately repurchase shares while also engaged in repurchases on the open market."
https://www.skadden.com/insights/publications/2020/03/share-repurchases#:~:text=A%20privately%20negotiated%20share%20repurchase,purchase%20agreements%20with%20individual%20shareholders.
At this point he'd better have as buyback on the open market now won't have the impact we need it to...
Nice ride, Cordova... I hope you post a picture when you get it ;)
I'd rather have that than the Lambo some are already shopping for, lol...
(a) Eligible shareholders: In order to be eligible for the above-mentioned special stock dividend, the minimum amount of Common Stock of PHI Group, Inc. each shareholder must hold as of June 30, 2021 (the New Record Date) is twenty (20) shares; (b) Dividend ratio: All eligible shareholders of Common Stock of the Company as of the new Record Date will be entitled to receive one (1) share of Common Stock of American Pacific Resources, Inc. for every twenty (20) shares of Common Stock of PHI Group, Inc. held by such shareholders as of the new Record date; and (c) Payment Date: the Payment Date for the distribution of the special stock dividend to be ten (10) business days after a registration statement for said special stock dividend shares is declared effective by the Securities and Exchange Commission
1. Purpose of Repurchase: To enhance future shareholder returns.
2. Details of Repurchase:
a. Class of shares to be repurchased: Common Stock of PHI Group, Inc.
b. Total number of repurchasable shares: Up to 15 billion shares, or more as may be needed.
c. Total repurchase amount: To be determined by prevalent market prices at times of transaction.
d. Methods of repurchase: Open market purchase and/or negotiated transactions.
e. Repurchase period: As soon as possible until June 30, 2021.
f.
The Company intends to fund the proposed share repurchase program with the proceeds from the disposal of a portion of certain non-core assets and from anticipated revenues of the Company.
g.
The share repurchase program will be in full compliance with state and federal laws and certain covenants with the Company’s note-holders
Great news, congratulations!
Still... what is Henry's buyback price target other than as low as possible. I hope this early run doesn't hurt us long term.
.0028 high today so far just a tease ;)
Confirmation of the fund for any doubters.
"$PHIL It will take a few more days for our auditors to finish the financials and 10-K review before we file. We will have a news release and a shareholder conference call to fully update our shareholders right after the filing. Thank you. Stay safe & God bless!"
$PHIL It will take a few more days for our auditors to finish the financials and 10-K review before we file. We will have a news release and a shareholder conference call to fully update our shareholders right after the filing. Thank you. Stay safe & God bless!
— PHI GROUP INC (@PHIGROUP) February 5, 2021
Facts does not disappoint. Lol...
...and Facts comes through with the mic drop, lol...
Hoping that before too long they'll need a time machine in order to get cheap shares, lol...
I just hope Henry accounted for this re: his buyback strategy. Otherwise the higher it goes before filing, potentially less shares retired.
I can't keep up with you high rollers, lol... but we do what we can.
Yes, he did.
and I believe he said the same on the last cc.
Not able to speculate, but looking back PHIL s/p ranged between .20 and $1 in 2016 under different circumstances.
PHIL s/p ranged between .20 and $1 in 2016 five years ago. Why shouldn't we expect similar with new revenue deals (lux fund/ppp projects) combined with reduction of o/s, should these all come to fruition?
We know the Lux fund is real therefore unlikely at this point Henry/PHIL is fraudulent. The waiting is frustrating but it's likely at some point soon we'll be discussing a totally different story.
Can buying back shares happen during after hours trading at all?