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Aren’t we owed Q2 financials at this point?
This whole thing is fishy, but this argument is a pretty bad one. A loan would have to go in the fins as a liability on the balance sheet.
We as individuals obviously don't have to submit balance sheets and don't report to the SEC.
I posted this yesterday, but the purchase of Van Phat Dat Export Joint Stock Company may have something to do with it. Maturity of $6M+ is due on 3/29, or within 30 days thereafter.
Read Article 2. Warranties of Party C
https://www.sec.gov/Archives/edgar/data/704172/000149315222027748/ex10-2.htm
Could this be the reason for the dilution lately?
Purchase of Van Phat Dat Export Joint Stock Company? Maturity is on 3/29.
https://www.sec.gov/Archives/edgar/data/704172/000149315222027748/ex10-2.htm
Per usual, insert shrug emoji.
Ouch. Almost 800M added to the count. Wow.
Welcome to PHIL. Again, we aren't going anywhere if OTCX is on L2. I don't care how much "volume" it seems is coming in.
I hope it's legit volume and not MM making people jump in thinking a run is coming only to pull the support. All just to be able to dilute more. That bid keeps getting ripped away on .0012.
Sky's the limit when OTCX goes away and stays away and, God willing, Henry drops something concrete. Getting through the 12s means nothing if they're still on L2. They'll smack it back down real quick.
No, you are incorrect. We don't own any part of Vinafilms, so there is no write off. You have to own things to write them off. Vinafilms is no where to be found in our financials anymore (Vinafilms International isn't even listed under subsidiaries anymore), so how can there possibly be a write off?
And while I can't with 100% certainty say there is dilution until the report updates. I fully expect more since that has always been the case when OTCX is on the board. Wish it wasn't.
Not here to argue, never have been. Just pointing out a few (unfortunate) facts. I honestly hope Henry pulls it all, or at least some of this, off. All with shares get wealthy, I'll never root against that.
On a positive note, looks like we just might hit .0012 today. Small steps.
No kidding! I just hope one of these days Henry releases something positive WITHOUT throwing down the dilution hammer. It seems everything is headed in the right direction, albeit way slower than we all would like, just need to pull, drag, push some of it across the finish line...which obviously hasn't been Henry's strong suit.
1. OTCX is only on the ask, so they aren’t selling old shares, only new ones. Also, every time they are on the ask we get dilution, no way around that argument. Restricted or non-restricted, we don’t know yet. But still dilution.
2. Vinafilms is NOT a huge write off. It’s not a write off at all. The deal basically just got reverted as if it never happen. Oh and I’m pretty sure accounting expenses were owed by PHIL if the deal didn’t go through.
History doesn’t always repeat itself and it doesn’t do much good to complain about it, but it sure can give insights.
It's all relative. For most companies this would be an incomprehensible number in one week. For PHIL, chump change - just another Friday.
Is there a way to filter out any message that includes the words “dangling falsehoods” “diatribes” or “Good Grief”? The board is way too cluttered with these and they add nothing of value.
I give it about as much chance as I do Henry filing the next Q without the NT extension first.
Classic Henry move. Dilute into a positive step forward. Truly unbelievable what he does. Some things will never change.
Uh yeah, an amended Q.
EDIT: And the current Q. Well that's a surprise.
But now we know why OTCX was hammering us.
3. CONVERSION OF CONVERTIBLE PROMISSORY NOTES
a. On February 6, 2023, Diagonal Lending LLC (f/k/a Sixth Street Lending LLC) converted $53,750.00 of the principal amount of the Convertible Promissory Note dated April 19, 2022 together with $32,191.10 of accrued and unpaid interest and expenses, totaling $85,941.10 into 186,828,478 shares of the Company’s common stock. The balance remaining under this Note after this conversion is $0.00.
b. On February 7, 2023, Diagonal Lending LLC converted $53,750.00 of the principal amount of the Convertible Promissory Note dated April 19, 2022 together with $32,191.10 of accrued and unpaid interest and expenses, totaling $85,941.10 into 186,828,478 shares of the Company’s common stock. The balance remaining under this Note after this conversion is $0.00.
Maybe the extra dilution was to pay this electromagnetic expert to say he was delighted to partner with Philux Global Group.
I give up.
Probably just taking a break. It must be exhausting stacking shares like that.
Or they just tagged in CDEL.
So this is an interesting one. All of this may be a little dilution as a loan repayment to TTG that is due tomorrow.
From the 8-K on 1/18:
PGG covenants to repay the outstanding principal amounts currently due TTG totaling Two Hundred Five Thousand U.S. Dollars (USD 205,000) and Twenty-Eight Thousand EUR (28,000 EUR) plus accrued interest before February 10, 2023, irrespective of the Closing of said Stock Transfer Agreement.
Think about it: Dilution essentially stopped mid-September, a few weeks after the original TTG agreement came through. And now he has a repayment date of Feb. 10.
All speculation of course, but if this is indeed the case then we should start to see OTCX lighten up either today or tomorrow. So I guess we'll see. And for that amount it would add around 150,000,000 shares to the count.
Yeah this feeling all too familiar. Big hype, getting current. And instead of Vinafilms it's a $250M loan and TTG/KOTA. Oh and shady MMs on L2. I guess we'll see what the share structure shows in the coming weeks to determine if it's just shorting or actual dilution. Hopefully it's nothing and Henry really does have something up his sleeve.
No AVG trades and the trading seemed normal, not like dilution - but I have PTSD from all the dilution so far, so I'm going to be skeptical until we truly start rising.
Although there is that form t trade for 30,000 shares AH...haha wtf? All $51 of it. Maybe that's the buyback getting kicked off.
Yeah I'm hoping it's just shorting, they get their money and get out.
As for the TTG - here is what I refer to from the 8-K on 11/14 -
1.4 PGG commits that PGG shall arrange a sum of money via PHIL’s shares up to US$ 10 million to serve TTG projects that are being implemented in the United States before December 15, 2022.
There is never a mention of this being with cash. And even in the extension 8-K on 1/18 it only discusses the acquisition and the $250M package to be used for it.
Not sure why you wouldn't use the $250M instead of shares, but Henry has done plenty of things I don't agreed with or understand. So unless something has changed behind the scenes, I assume it's still out there until Henry states otherwise.
That's for the actual acquisition. The $10M was separate for financing projects post-acquisition. Did I miss something though that said otherwise? Very well could have.
If I could figure out a way to earn a nickel for every person that cried 'naked shorting' all across the market, I'd retire on that steady income. We can't blame the MM for the 33B OS, that's on Henry. And he very well could be at it again, don't sleep on the dilution.
Yeah, there is still that "$10M via PHIL shares" that's still hanging out there.
Actually OTCX is sitting there blocking with an unending amount of 18/19s. They get bought out, flip up to .0019 and then come right back with 2.5M on .0018s.
No idea why. As someone mentioned, they are a notorious shorter, and if that is indeed what they are doing then we either go lower from here or if there continues to be a steady amount of buying that eventually they cover and we move up.
ALPS is now another concern if they are selling shares to debt holders. They just showed up this afternoon.
I don't think Schwab and Fidelity were able to buy today, so we'll see what happens tomorrow if those individuals are able to start buying again.
Yeah I know! The charts said we would go to EM and then come out of EM and jump back to where we were based on Henry filing the 10Q and hype. Great call on the charts!
Yeah they weren’t there initially this morning. Showed up maybe an hour after open.
Great that we're trading again. I don't like that OTCX showed up on the ASK though. Doubt we'll go much higher until they leave. They'll just sit there and block it at .0019.
Haha...in the coming days. Ok.
There was almost no information in that update that hasn't already been said. Go ahead and re-read it. Just a lot of vague statements like: "as soon as practical" "to prepare and complete" "in the process of" "in the coming days" "quickly thereafter".
All typical Henry jargon. Absolutely nothing concrete. Until he starts using language containing "we have closed" and "will be filed on [insert date]" it's all fluff. And even then, at this point, I wouldn't trust it until it's officially filed. He truly has mastered the art of evasive wording.
At some point excuses have to stop being made for Henry. He has had plenty of opportunities to bring shareholder value or at least communicate what is going on. At some point leaders need to be held accountable. 20B+ shares have been added to the share structure in the past two years and we have very little clue as to what that was used for other than a crypto coin that is no longer working and a bunch of toxic notes.
If Henry actually pulls something off, all will obviously be forgiven. But until then everyone should be holding his feet to the fire, not saying 'just give him some time.' Enough time and money have been given. The only thing he pulled off that created value was get current, but even that was mainly hype about Vinafilms, which is no longer on the table either. So here we are in EM.
It's ok to expect more out of a CEO you have entrusted to bring value. And it's ok to be upset when they don't.
No he didn’t. They are two separate sites and the third one from Owler that he’s using as proof that they’re changing hasn’t actually changed. And it’s says ‘updated as of’ but there’s not proof thats what actually updated. He just circles them as if that’s fact and everyone believes it. These sites are highly inaccurate and unless Henry posts something legitimate, I wouldn’t believe them.
I’m not sure where this whole ‘acquired’ business on the websites started (I saw DJK posted it on ST) but it’s bogus. These sites say ‘Acquired’ as of 8/19/22 because that’s what the PHIL PR of the same date said. ‘PHI Group Acquires TTG’ blah blah blah. These sites are not accurate. I asked him to prove they didn’t say it before because he’s using different websites to prove his point and he always ignores when asked for proof.
Also, you don’t ‘acquire’ departments. Not how business transactions of this manner work. So that doesn’t even make sense.
My biggest concern at this point isn't that Henry is intentionally lying or deceiving, he seems genuine enough. It's that he's an ever-optimist and fooling himself that these large undertakings will actually be completed. We have no insights into what's happening, only what Henry tells us. We'll all continue to get screwed if Henry isn't truly being honest with himself.
Bid and ask won't move until we are out of Expert Market. There is technically no bid/ask, its all unsolicited prices until back on Pink market. Only way to see where we are at is by looking at the actual time and sales data.
Dropping to .0011/.0012 now.
You won't be able to see them while in expert market. All sales are unsolicited. Only way to figure out what is going on is to look at the actual time and sales as they come through. Right now we are sitting at .0013.
.0013s are selling off now. It's ok to be upset with Henry. He waited until the last minute and it's now costing everyone.