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Generally true, counting on this not being one of them.
Though there are still questions and concerns, there are at least 2 indisputable points in our favor.
Philux Global Funds is real.
PHI Luxembourg Development SA is real.
All I can assume is that it has to benefit buyback, if buyback is really happening. I don't see any other explanation as there doesn't seem to be a benefit to Henry to delay otherwise, however there is substantial risk.
Valid concern which I share.
My question specifically is the relationship of PHI Luxembourg Development S.A. to PHI Group Inc. (PHIL). Described as a subsidiary of PHIL in the fund launch PR, how does the revenue impact PHIL, and how is revenue generated. I think we're all on the same page with those questions...
Hoping we get the explanation in the upcoming filings.
My understanding is as follows, please correct where I'm wrong.
There 4 entities we're concerned with here,
PHIL = obviously us, the retail shareholders
Philux Global Funds = The Fund with subfunds.
http://www.philux.eu/fund-structure/
PHILUX Capital Advisors, Inc. - noted in PR's as "the Company’s wholly-owned subsidiary, PHILUX Capital Advisors, Inc. (www.philuxcap.com) provides M&A consulting services and assists companies to go public and access international capital markets while also serving as the investment adviser to Luxembourg-based PHILUX Global Funds(www.philux.eu).
PHI Luxembourg Development SA = the Luxembourg fund entity
Note the HQG PR is an announcement from PHILUX Capital Advisors, Inc., a wholly-owned subsidiary of PHI Group, Inc
"According to the MOU, PHILUX Capital plans to provide up to USD 200 million (equivalent to VND 4,600 billion) to support multiple social housing projects and other real estate development programs. This could include industrial zones, ports and tourist resorts that Hoang Quan Group currently manages or is developing. In addition, PHILUX Capital will also advise and assist Hoang Quan Group in a comprehensive restructuring effort to access international capital markets and list their securities on US or other major foreign stock exchanges."
First disbursement of the fund? From PHILUX Cap to/through HQG?
https://www.globenewswire.com/news-release/2020/07/14/2061612/0/en/PHILUX-Capital-Advisors-Signs-MOU-for-Comprehensive-Cooperation-with-Vietnam-based-Hoang-Quan-Group.html
Note the Tecco PR is from PHIL but the agreement is between Tecco and PHI Luxembourg Development SA -
"PHI Group, Inc. (www.phiglobal.com, PHIL), announced today that Vietnam-based Tecco Group (https://teccogroup.vn/) has signed an agreement with PHI Luxembourg Development SA, a subsidiary of PHI Group, to launch “PHILUX Infrastructure Fund,” the first-ever Luxembourg-based infrastructure fund for Vietnam"
https://finance.yahoo.com/news/vietnamese-tecco-group-joins-philux-180000647.html
Tecco is an investor partner?
Both PHI Lux Dev, and PHI Cap Advisors entities have been described in PRs as subsidiaries of PHIL, and confirmation of the ownership structure of PHI Luxembourg Development SA might be found here, but there is a fee to get it:
https://www.firmenwissen.de/az/firmeneintrag/2132/9370359418/PHI_LUXEMBOURG_DEVELOPMENT_SA.html
https://www.datocapital.lu/companies/Phi-Luxembourg-Development-Sa.html
Further, since only professional/institutional/ or otherwise "well informed" investors may invest in the fund itself, Henry's PHIL financials may not have been relevant only insofar as they impacted the set up of PHI Luxembourg Development SA, which is the true Lux entity for investment.
I have to assume some sort of % of Assets Under Management fee structure as a source of revenue to the subsidiary and therefore to PHIL, but can't find anything to confirm.
Yes, sorry - typo. HQG Hoang Quan Group. Finalization of this deal will be great news.
https://www.globenewswire.com/news-release/2020/07/14/2061612/0/en/PHILUX-Capital-Advisors-Signs-MOU-for-Comprehensive-Cooperation-with-Vietnam-based-Hoang-Quan-Group.html
The final agreement with HQC to me will be the first real evidence of Henry's progress, first verifiable real step post fund activation.
One more entry into the "this is real" column vs. the "this can't possibly be real" column, lol...
...waiting for filing now...
Thanks for the update.
This has to be a different scenario due to the funds being real, yes? IF buyback happens, and IF pps rises and is steady, why would Henry dilute again instead of capitalizing on running a "legit" organization?.. if that makes sense. The companies mentioned so far look like legitimate producing companies, let alone the VN govt...
A r/s is a legitimate concern despite Henry's good intentions, as well as spin offs without benefit to PHIL shareholders mentioned today - we still don't know how PHIL benefits financially from fund operations/partners, and of course SEC concerns are real, but fraud? Can this realistically be considered a typical OTC share selling / dilution scheme anymore as stated by some? Doesn't the existence of the fund negate that concern?
Somebody set me straight if I'm missing something.
What happened to Vero Blue between then and now? Is this why it's such a good deal for SHMP?
https://www.undercurrentnews.com/2018/11/15/ras-darling-veroblue-falls-into-bankruptcy-sues-former-execs-for-fraud/
Counting on this being true, Mini...
PHIL subsidiary PHILUX Capital Advisors, and not PHI Group (PHIL) still shows Las Vegas as the address on www.philuxcap.com - not sure if still accurate, but the hierarchy is described below. Not sure if this is relevant at all just FYI.
From the recent Tecco PR:
About PHI Group, Inc. ( PHIL )
PHI Group ( PHIL ) , primarily focuses on mergers and acquisitions and invests in select industries and special situations that may substantially enhance shareholder value. In addition, the Company’s wholly-owned subsidiary, PHILUX Capital Advisors, Inc. (www.philuxcap.com) provides M&A consulting services and assists companies to go public and access international capital markets while also serving as the investment adviser to Luxembourg-based PHILUX Global Funds (www.philux.eu).
Any idea fund value on this one?
Also I know Fidelity won't let you buy more with the stop sign on OTC, maybe others also.
Number of outstanding shares is concerning, as we don't know what the real number is... see prior posts from Djk..and buyback size and therefore impact on pps still just conjecture. Hopefully financials will be good news.
News/Events/PRs should start coming with more frequency, especially once current with financials.. I expect the biggest news hasn't even dropped yet, IMO. Just hoping as subsidiaries controlling the funds, a good portion of revenue flows to PHIL substantially raising value and pps.
PHIL was trading around .40-.60 four years ago. Don't see why it couldn't get back to that with these fund deals and buyback.
Very interesting and yet another reason for optimism if accurate.
I love this board :)
I expect that once financials are posted and current, as promised by end of month, and gaap audit is complete, we should start seeing next events announced at an accelerated rate...additional fund activations, buyback, VN partners & projects (ADE) etc... if all goes well in August we should see regular updates through the rest of the year and a steady pps climb.
I for one am not in the finance industry at all and really appreciate your willingness to share on the board.
According to this then all we are waiting for is the GAAP approval stamp. Sounds like financials can be posted within the month with or without, keeping true to Henry's promised timeline. Great News!
Can't win if you don't play. ;)
Agreed, especially following your latest posts re: recent trades.
Although now it's looking like ideally Henry would have to buy back more than the "...up to 13B." in order to have a real impact. ("...or more as needed.") Although ANY evidence of actual buyback would be a step in the right direction to increase investor confidence.
Definitely looking forward to revenue as it's been so long without current filings... so much we don't know, I'm going on faith in Henry at this point, and the valuable information provided by you and Facts, but at basically .0001 average so not too worried.
Any concerns about what could be revealed in the filings?
Assuming we get current by month end as promised, still optimistic?
He'll do it. He's on a roll... everything he's been saying lately has been happening :)
Now that this is resolved...can someone explain the addition of PHIG and PHIGW? How does this fit in with PHIL?
Well said. Also Henry said he'd fix it and it's fixed. (for now)
Maybe a good wake up call instead. Not sure the extent of lasting damage over an error. What do you have in mind?
Also, Henry did say he'd fix it and it's fixed (for now, granted). Good sign, right?
PHIL added back at 10:43. Reinstated / Symbol was removed in error.
https://otce.finra.org/otce/dailyList?viewType=Additions
Well at least it looks like he didn't intentionally dissolve the company anyway... b/c if he did what would be the benefit of stringing us along?
...but reason given is company dissolved. That can't be true can it?
I've got a sell order in for .52, how long do I have to wait? ;)
Good question, but does Henry have to be in the US to work on filings? Do you think much of the info would be ready to go beforehand? I don't actually know, just asking... not sure what work is necessary for filing.
Vietnam over the weekend? Would be great to see news of progress this week.
Lol... I know, I know...
Henry will do it.
If that's the case what's the harm in getting current with financials prior to audit completion? No vinafilms revenue to report, pps remains low for another quarter or so, but at least sec compliant & potentially cheaper buyback? Granted I'm sure it's not that simple & counting on Henry working a plan.
Fine with me if it helps the buyback efforts.
Do tell...
Was Henry able to get to VN / is he still planning to go?
Did Henry figure out a new travel plan?
We all really want your wife to be happy then. lol.
Check it out. Our new partner Hoang Quan Group in VN has a US division- HQC USA LLC, with a 50 million building project currently underway in Tacoma Washington.
https://www.djc.com/news/re/12112351
https://www.cityoftacoma.org/in_the_news/hailey_project_resumes_today
https://hqcusa.org/projects/the-hailey/