Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Henry told you why things changed from the previous time mentioned the APR dividend ratio.
$PHIL Regarding the change in the APR dividend ratio, it is necessary due to pending transactions, a more realistic capital structure and anticipated value of the APR shares, which should make more sense for our shareholders and all stakeholders. Think strategically. God Bless!
Yep that will be a beautiful sight to see:) Go $PHIL
Technically the shares haven't been bought back yet because they weren't transferred to PHI Group's account. Not sure about the buyback agreements Henry made with the Note Holders. I guess it all depends on the transaction date. We have a few days until the $PHIL 2021 fiscal year ends on 6/30/21. I don't think we will see any information about the shares being transferred to PHI Groups account because that won't happen this fiscal year. Now the arrangement he made with the Note holders to pay off the remaining note holder balances should have happened and we will probably see that in the filings this year. GO $PHIL
Henry said the shares cannot be transferred to PHI Group's account until $PHIL is current so sometime after the 3rd 10Q is filed. We will see the update on OTC Markets after Henry transfers the shares to the company's books and then retires them IMO. I expect Henry to announce the shares he transferred to PHI Group's account after officially getting current on OTC Markets.
Yep I learned to keep it simple:) Go $PHIL
The buyback extension means Henry is planning on making open market purchases which he can only do after he is current. Go $PHIL
IMO Henry cannot transfer the shares over into PHI Group's account without an active buyback agreement and also he needs to be current in their filings. Of course Henry cannot do any open market buys until he is current he made that clear in the tweet below.
Replying to
@PHIGROUP
Regarding share buyback, to clarify, the Company is not able to start buying back shares on the open market until our filings are current with the SEC. We have evaluated a number of options to increase shareholder value and will do what is in the best interest of our shareholders
8:29 AM · Feb 18, 2021
Regarding share buyback, to clarify, the Company is not able to start buying back shares on the open market until our filings are current with the SEC. We have evaluated a number of options to increase shareholder value and will do what is in the best interest of our shareholders
— PHI GROUP INC (@PHIGROUP) February 18, 2021
Henry transferring shares over to PHI Group is a material event and requires an 8K I believe. IMO Henry will transfer the shares over to PHI Group ASAP after getting current. It will be interesting if the Buyback Numbers change in the Buyback Extension 8K this week. Go $PHIL
Just curious why you are expecting a dump after the buyback is complete since those shares will be retired and the float will be a lot smaller. Also, Henry will be free to announce major deals that he couldn't announce until he was current. Go $PHIL
IMO the auditor is working on the remaining Q's now. The reason why I say this is the auditor will most likely work on one company's audit at a time. If he flips back and forth between companies he could get confused and make a mistake on a filing. Since the Q's just need to be reviewed, it would make more sense that he is going to knock them out as quickly as possible so he can move on to his next clients filings. Go $PHIL
Yep, it will be all hands on deck when the extension gets filed next week:) Go $PHIL
Nope the float isn't something the transfer agent updates. Henry will have to manually update the float I believe. He probably isn't going to do that until after the buyback no sense doing it now since the float would be constantly changing. I always use the unrestricted share count as the float. However, the tradable float is a lot lower because many shares are locked up for many reasons such as the negotiated transactions for the stock buyback and longs holding for higher levels IMO. Go $PHIL
Yes kaching, I agree Henry can only do open market buys for a share buyback after $PHIL is current so why not extend the buyback for the whole year so he can buyback shares whenever substantial revenue comes in. Go $PHIL
Hi Pokerpro, this video is great it has videos of Henry discussing the share buyback. Fast forward to 12:30. Go $PHIL
Good Point it will be interesting how long the buyback will be extended for and if the buyback shares have increased. The stock has been trading like the float is very tight which is a good thing:) Go $PHIL
You have a great weekend too. These next few weeks are going to be pretty exciting for $PHIL shareholders so many catalysts coming in the near future it makes your head spin LOL.
Yes, the buyback could be complete based on the method highlighted below in the buyback agreement. An open market purchase by $PHIL can only be done if the company is current but the negotiated transactions can be done at anytime.
Replying to
@PHIGROUP
Regarding share buyback, to clarify, the Company is not able to start buying back shares on the open market until our filings are current with the SEC. We have evaluated a number of options to increase shareholder value and will do what is in the best interest of our shareholders
8:29 AM · Feb 18, 2021
Regarding share buyback, to clarify, the Company is not able to start buying back shares on the open market until our filings are current with the SEC. We have evaluated a number of options to increase shareholder value and will do what is in the best interest of our shareholders
— PHI GROUP INC (@PHIGROUP) February 18, 2021
Your welcome northernwind. I wouldn't be surprised if we see a 10Q out next week. Since the 10Q's just require an audit review, the auditor can get them knocked out pretty quickly so they can go to peer review most likely within a few weeks. We are very close now IMO. Go $PHIL
Based on past dilution Henry needed enough shares authorized incase he needed to issue restricted shares for future acquisitions and for additional converted shares. Since dilution is over and Henry doesn't need to worry about additional shares converted, he can decrease the amount of shares after the stock buyback to a reasonable level. Henry issued restricted stock a few weeks back most likely for a deal he was working on. Since it appears based on the buyback filing Henry intends to buyback over 15 billion shares, he should reduce the AS to a level he feels comfortable with where he still has room to authorize restricted stock for future mergers and acquisitions. A company will always give a reason why they are increasing or decreasing their shares in a filing like the one below.
The undersigned, Tam Bui, Henry Fahman, and Frank Hawkins are the only members of, and, therefore, constitute the Board of Directors of PHI GROUP, INC., a corporation originally incorporated in the State of Nevada on June 08, 1982 and domesticated in the State of Wyoming on September 20, 2017 (the “Corporation”), and by their signatures below, hereby approve the following resolutions and consent to their adoption, in lieu of a meeting on this 17th day of June 2020.
WHEREAS, , it deems to be in the best interests of the Company and its shareholders to further amend the capital structure of the Company in order to allow for potential acquisitions of target companies and other transactions with authorized capital stock of the Company;
WHEREAS, on June 17, 2020, the Company’s shareholders, casting 18,049,544,713 votes out of 31,212,408,755 eligible votes from all the issued and outstanding Common Stock and Class B Series I Preferred Stock of the Company and thereby representing 57.83 % of the total eligible votes, voted in favor of amending Article 10 of the Articles of Domestication of this Company with respect to the authorized capital of the Company and the designations of the Company’s Preferred Stock;
NOW, THEREFORE, BE IT RESOLVED that this Corporation amend Article 10 of the Articles of Domestication to read as follows:
“ARTICLE NUMBER 10”
10. Aggregate number of shares or other ownership units which the Corporation has the authority to issue:
TOTAL AUTHORIZED CAPITAL:
Forty billion (40,000,000,000) shares of Common Stock with a par value of $0.001 per share and Five Hundred Million (500,000,000) shares of Preferred Stock with a par value of $0.001 per share.
The rights and terms associated with the shares of Preferred Stock will be determined by the Board of Directors of the Corporation.”
FURTHER RESOLVED that this Corporation’s authorized Preferred Stock be designated as follows:
https://www.otcmarkets.com/filing/html?id=14248431&guid=mGeUkW3a1BqHzyh
After Henry completes the share buyback and retires the shares, he will most likely reduce the Authorized Shares as well.
I hope so Kenny with $PHIL getting current most likely within a few weeks you would think .01 will hold from now on.
Hi Doog, it is great to see you in $PHIL it will be some ride after they get current.
Thanks Kenny. You know me just posting the facts and trying to keep my opinions on $PHIL out of it which is pretty hard to do. $PHIL is the first to create a Vietnam Luxemburg fund and the First to build a Asia Diamond exchange that makes them a best of bread stock and we know what other best of bread stocks eventually trade at long term:)
I fully understand that! Go $PHIL
That is why knowing what you own helps because long term $PHIL will be a lot higher than it is now.
Yep, it appears the MM's covered and are currently allowing the stock to trade on supply and demand I hope it continues:) Go $PHIL
Yep, day six we need to close over 30 days at .01 or higher to get the OTCQB listing Henry is shooting for. Go $PHIL
I noticed that but since the document only mentioned OTCQB and not the Pink Sheets I figure it is the same the other way around:) Go $PHIL
I thought $PHIL was going to move from the Pink Sheets to the Nasdaq as well. I have seen companies do that move in the past. It appears though if Henry is trying to do a dual listing with a foreign exchange he needs to be on the OTCQB first based on this document.
https://www.otcmarkets.com/files/The-Guide-to-a-Dual-Listing-on-the-OTC-Markets.pdf
Info on Saigon Pho Palace from last 10K filed.
ADVANCES FROM CUSTOMERS
Advances from Customers were $430,500 as of June 30, 2020 and $438,000 as of June 30, 2019, respectively.
SUB-FUND OBILGATIONS: During the fiscal year ended June 30, 2019, the Company received $800,000 from European Plastic Joint Stock Company towards the expenses and capitalization for setting up the energy sub-fund and $466,634 from Saigon Pho Palace Joint Stock Company towards the expenses and capitalization for setting up the real estate sub-fund respectively under the master PHILUX Global Funds. The Company recorded these amounts as liabilities until these sub-funds are set up and activated, at which time the sub-fund participants will receive 49% of the general partners’ portion of ownership in the relevant sub-funds for a total contribution of $2,000,000 each. The Company recorded a total of $1,266,634 as sub-fund obligations both at June 30, 2020 and June 30, 2019.
https://www.sec.gov/Archives/edgar/data/704172/000149315221015100/form10-k.htm
https://www.globenewswire.com/news-release/2018/10/30/1639333/0/en/PHI-Group-and-Saigon-Pho-Palace-JSC-Sign-Agreement-to-Swap-Stock-and-Prepare-for-IPO-Saigon-Pho-Palace-s-Revenue-to-Exceed-90M-in-Fiscal-2018.html
https://pitchbook.com/profiles/company/233921-62#overview
Yep, it was basically the same presentation he gave last time since he couldn't say much more because the Q's haven't come out yet. We will have to wait a few weeks for the Q's to come out and $PHIL to get current. I posted a few slides that I didn't see in the previous presentation in the link below.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=164570991
We better be Kenny since we will be current within three weeks. Go $PHIL
$PHIL - Emerging Growth Conference video 06/23/2021
Hopefully stronger hands bought the dip under .01 today so dips stay above .01 from now on that is the goal here. Go $PHIL
CURRENT BY MID-JULY MOST LIKELY SOONER.