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I assume you meant billions?
Cost of buyback:
10 million at 0.0001 = 1 million
5 million at 0.0002 = 1 million
5 million at 0.0020 = 10 million
Henry has not been able to put VF revenues (if they exist) on their books for the past 4 years. What makes you think they are magically completed now?
No revenue = No Loans = Shareholder value in the crapper
Thanks Henry.
GB
Henry is a master negotiator. This is how imagine the deal went down:
KOTA: (talking to each other before meeting with henry)
Guy 1 - “When he comes in we are just going to tell him he can buy into our company for a stupid amount of money, let’s say $64M”
Guy 2 - “Only a moron would pay $64M for 50.1% of this company”
In walks Henry
KOTA:
Guy 1 - “After much discussion we would agree to sell you 50.1% of the company for $64M”
Henry: “Done!”
I picture it similar to that Seinfeld episode where Kramer is going to settle with the coffee place for burning himself. He walks in and they only say the first part and he says I’ll take it lol
Lol
Agree 100%
I do not understand what Henry is doing here with the O/S and A/S but he better clean it up and soon.
Kota to me was a slap in the face, $64M??? What about the other 50 MOUs and LOIs etc you have going on. He goes from one thing to the next to the next without finishing one thing.
Being frustrated is an understatement, I am way beyond frustrated
Over the past 6 months we are down over 70%. We are down over 90% from our high at $0.0198.
Great Job Henry!!! You are an amazing CEO
Henry should write a book and title it ‘How to run a company into the ground’.
After that one he could write another titled ‘How to fake it until you make it: The Art of LOIs, MOUs, and Stock Dilution’.
Other titles include:
- ‘1000 ways to start something and never finish it’
- ‘Financial Auditing for Vietnamese Companies: The 5 Year Process’ (written by both Henry and Rao)
- ‘Using Twitter to Dangle Carrots to String Shareholders Along’
- ‘Safe Harbor Statement: How to Avoid Legal Trouble when Investors Come to Realize You are a Scammer’
Hey Henry if you are reading this would you please finish one thing that you said you would. Getting current was not enough.
Yes that’s one way of looking at it. Kind of like waking up in the morning and getting out of bed………progress.
This PR isn’t progress it’s a distraction. Look at the past 4-5 years of PRs and let me know if it feels like Groundhog Day.
Like KennyPro said how can Henry possibly bring any company to Nasdaq when he can’t even get this one off the Pinks.
No 8k filing to delay buyback yet
Does he have to file a delay if it is no longer a viable option?
If he does is there any fines for not filing?
If it was updated it was done by the company so if no shares added to the O/S then there was no dilution imo. Which then brings the question as to who was buying all of those shares?
Is this speculation or did he tell you this directly?
You have been spot on this whole time. Just another stinky pinky ceo.
You will be able to buy sub 0.0015 by Monday morning after Henry drops his news Friday after close. There is nothing that says good news is coming or at least news that we all want to hear otherwise he would have told us since he can’t seem to hold his excitement back. If you bought in the trips and are still holding you may want to consider your exit here soon. Unfortunately for many, including myself, we are already in the red and have no choice but to hold. I really hope I do not end up like the shareholders who have been holding for 4+ years just to see the same old shit for years.
Henry I hope you can make me eat my words but I highly doubt it.
GLTA
Looks like Henry is going to drag this out until the last possible minute as usual. My guess is after market on Friday. Then he will drop the next MOU or LOI in a PR and 8k.
I hope I am wrong
All of the “DD” that everyone uncovered for months and months with all of these hidden deals etc and nothing has come to fruition. Henry can take a picture with Warren Buffet and the sp wouldn’t budge. The market will not believe any more DD, it needs to come directly from Henry in an 8k/PR not his uncle or his cousins nephew etc.
Recap
Twitter PHI GROUP INC @PHIGROUP
Wednesday Mar 9
$PHIL Greetings from SGN! I just arrived in Vietnam now after very long waits but in excellent health and great spirit. A lot of meetings and procedures to complete for multiple transactions, expecting to update our shareholders with very positive results from this trip. GB!
….And surprise surprise nothing
Thursday Mar 10
$PHIL The trip in Vietnam is going very well. A lot getting done for the first day, expecting to update further with positive, exciting news. GB!
radio silence for 8 more days……
Friday Mar 18
$PHIL Vietnam trip has been very productive in many aspects: ADE development, raw material for Empire Spirits, subfund partnership, strategic alliances, etc. Also noteworthy progress with loan financing programs. Official press releases to follow next week. Good weekend and GB!
4 days later…….still nothing
Keeping that carrot dangling for your investors Henry to finish off your dilution extravaganza.
Yea the noteworthy progress is probably the guy who got sick and couldn’t meet him Dubai is finally feeling better so he is planning a trip overseas again lol.
Credibility meter for Henry is now a 3 out of 10 and dropping.
Love the potential here just not seeing it come to fruition anytime soon. When we finally run again I won’t make the same mistake twice and miss taking profits.
Needs to be approved by the SEC which has not happened yet. Only Henry knows why it hasn’t been approved yet.
Appreciate the response and while I do agree with most of your points I am taking a backseat on being bullish for PHIL until Henry completes something worthwhile. Hopefully it will happen soon.
Please elaborate
Perfect way to absorb continued dilution is by having investors waiting all week for anticipated PRs.
Spin it anyway you want but without hearing it from Henry directly that is an opinion not a fact.
BTW I prefer cherry so bring them next time
Restricted shares decreased by over 71,000,000.
Unrestricted increased by 736,119,324.
All with no explanation from Henry.
Now tell me why this is a good thing mr flipper…
The market wants to see something completed not new ventures. Not trying to sound bearish but I have nothing positive at the moment to say about Henry and Phil. It has been quite a disappointment.
MOU or LOI press release next week and we drop again. Guess always wanting to buy in the trips may come to fruition after all.
What the actual f&$k!!
Henry has some explaining to do and hopefully soon.
Thank you.
Update on share structure yet?
And what has prompted you to make such a statement? Proof?
I have been bullish on PHIL but I cannot possibly see how he will be able to make that payment on time. I am hoping for the best but I am anticipating a delay for either KOTA or 5G (or possibly both). My confidence has been waning as of late and going back to read posts from 2018/2019/2020 is concerning. But I know the company is different now from back then.
(i) A two percent (2%) earnest deposit of the Total Purchase Price shall be paid upon the signing of this Agreement;
https://www.otcmarkets.com/filing/html?id=15488335&guid=QmFwkeeRrRuvQth
I believe Henry made an initial payment on contract for $2M
If it was done on Monday (since Saturday was the deadline) then the 8k would be due Friday.
‘ The closing date of these transactions shall be the date on which the closing actually occurs, which is expected to happen as soon as possible and no later than forty-five days from the effective day.’
Effective date January 26th 2022
45 days would be March 12th 2022
Good question.
For the KOTA construction deal the 8K states ‘
5.4 Special Distribution. Immediately following the Closing, the parties hereto shall cause KCCO to distribute Eleven Million Three Hundred Sixty-Six Thousand One Hundred Ninety-Nine U.S. Dollars ($11,366,199) of the Closing Payment received by KCCO from PHIL to Yato Consulting, Inc., Alpha Power Group LLC, Kodiak Cole Consulting LLC, and Mac Advisors LLC (each a “Founding Member”, and collectively, the “Founding Members”) pursuant to the terms set forth the Operating Agreement. The remainder of the Closing Payment will be used by KCCO for its working capital, expansion and growth.
For the KOTA energy deal the 8K states ‘ Special Distribution. Immediately following the Closing, the parties hereto shall cause KEG to distribute Two Million Seven Hundred Fifty-Eight Thousand Eight Hundred One U.S. Dollars ($2,758,801) of the Closing Payment received by KEG from PHI to Yato Consulting, Inc., Alpha Power Group LLC, Kodiak Cole Consulting LLC, and Mac Advisors LLC (each a “Founding Member”, and collectively, the “Founding Members”) pursuant to the terms set forth the Operating Agreement. The remainder of the Closing Payment will be used by KEG for its working capital, expansion and growth.’
Totaling it up looks like he will definitely need $14,125,000 of funds available to close the loan but not sure about the other monies. However if you read the 8K it seems that he will need all the money by the closing date or it will terminate.
https://www.otcmarkets.com/filing/html?id=15519643&guid=IQHwk6ImV7Prdth#EX10-2_HTM
Upcoming Deadlines
3/4/22 1-A Offering tentative start date. Likely will be delayed because it needs to be qualified by the SEC before it is active. Guessing around 30-60 days for qualification but remember we submitted on 2/9/22 so that means April at the latest.
3/12/22 KOTA payment due. Now I asked myself why would KOTA agree to give up majority control of the company to Henry unless Henry was able to provide definitive proof he would be able to make the payment as well infuse $50M for expansion. I have never cared for this deal especially since we are desperate for funds. Why couldn’t Henry just wait until he had one of the billion dollar loans? Maybe since this company is based out of CA the audit will be quick (quick for Rao is 4 years lol) hopefully the books are in good condition and it can be done quickly to show on our books as revenue ASAP.
3/18/22 $32 million payment due for Five Grain which will likely be delayed as Henry eluded to in the CC
3/31/22 BB end date which, if you have been paying attention, will likely not happen since we don’t have any money to buyback the shares…..yet.
Once we get a loan or 2 we should be able to stay above $0.01 again and hopefully maintain. I am in the red for the first time in about a year but am still holding and believe Henry can get the job done.
GLTA
Thank to all who have responded. (I only get a few posts per day)
Thanks.
Today is the 21st day (including weekends) since it was submitted to SEC. Maybe they will update it by tomorrow.
From the 1-A “ These securities may not be sold nor may offers to buy be accepted before the offering statement filed with the SEC is qualified.”
Is there anyway to determine if this offering statement has been qualified?
Are JP shares restricted and if so for how long?
Absolutely agree March is a big month for Henry and Phil.
PAUL on the ask already unfortunately
Hey Facts…February is over I hope you are still here.