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Henry stated in the Phi Group Inc. CC 02/22/2022 Transcript why he is in Vietnam. There could be more reasons then what was stated below. You need money to do the things Henry said he would be going to Vietnam to do.
Yep Kenny that is the bottom line.
Then just ignore it and read the quotes. These are Henry's words below in quotes.
The Kona payment needs to be made on 3/12/2022. The Five Grain payment has a 09/2022 closing date so it can be pushed back. There are more important priorities this month that must happen before the buyback. There probably won't be enough funds secured to do everything that was suppose to occur this month.
Here are the facts concerning the Kona payment this month based on information released by $PHIL.
The Kona payment needs to be made this month the 5G payment can be pushed back and the buyback can be extented.
I have no idea only Henry knows that:)
Yes, I would expect an 8K to be filed sometime after the payment is made.
Henry needs to secure 20 percent of the Kona financing. He already disclosed in the Kona CC he has 80 percent secured.
Great Post! I totally agree.
Phi Group Inc. CC 02/22/2022 Transcript
Transcribed by VRNAQLR
Introduction: Ukraine/Russia Boosheet
Greetings. Welcome, ladies and gentlemen, thank you very much for taking your time to join us. And todays conference call. I'm sorry It was a short notice, but I thought it would be important for us to have this call because of a number of reasons. You know, all of you are aware of the tensions that are going on between Russia and Ukraine and the US just announced the first wave of sanctions.
And, you know, the escalation of forces on the ground. And also the uncertainty that is caused by this conflict can be kind of affect all of us in different ways and today, the S&P 500 enters the correction territory and you know a lot of other Indexes also took a beating from the SP 500, Dow Jones and the Nasdaq and Russell 2000, including our stock as well.
And I believe I think this is important time for us to be aware of what's going on with the company and have a good understanding because the three factors that affect a lot of us who are in market, those of you who already know the greed factor and then hope and fear. But you know the worst of it is fear. We fear when we do not have correct, accurate information we can make wrong decisions. Sometimes things that can come back to hurt us or we may regret for a long time.
And you know the tensions between Russia and Ukraine, will also cause the energy price to rise, to escalate and that will make the job of the Fed more difficult to tame inflation, which has gone up so much compared to many many decades ago. But you know, tensions will also go away. Major events in history have come and go, so we need to look at the big picture and take a long term view and don’t get panicked.
You know, sometimes on small things and sometimes in our stock you know, today is down and a lot off you, some of you have shown the kind of fear and anxiety and some have expressed some very – I wouldn’t say depressing, but you know very concerning sentiments. So let me turn off my phone. I don't want it to interfere with our call here.
To The Point
So that being said, you know, I don't want to belabor myself or spend too much time on the safe harbor statement, which is all too familiar with us. You know, it's part of the routine in every presentation of public companies because things in the future may not be as exactly as what we planned to see happen, and because of factors that are beyond our control, you know, known and unknown risks and uncertainty and so forth, so.
That being said, you know I will not spend too much time on it today I want to do a recap on the last quarter earnings the quarter ended December 31st, 2021 and also bring you up to date on some of the recent progress so that you know that we have a bright future. It's just not the now and what already happened and some of you say, “oh. We didn't generate any revenue.”
Yeah, we admitted that we didn't but in the last quarter and even before that, we have devoted a lot of our energy and effort on a number of things. Of course, you know, building the Asia Diamond Exchange is our biggest undertaking among the other things. But then the last quarter, we also started working on the KOTA transaction and then launching CO2-1-0 Carbon mitigation program and also the Five Grain acquisition. For the last quarter, we didn't generate any new revenues.
Actually the $5000 in the book, it was from a contract consulting agreement we have had and they still owe us some money on that. It's not all, but we, you know, we only collected that much during the last quarter and our focus well mainly was on the acquisition of Five Grains Spirit Company and KOTA companies as well as the launching of the CO2-1-0 Carbon Corp you know as we mentioned the filing and also all of you are aware and now on the expansion side, you know we recorded a very big increase in expenses actually they total operating expenses were $9.9 million compared to only like over like over $109,000 for the three months ended 2020 December 31st.
The big increase in total operating expenses between the two periods was mainly due to an increase of about $9.8 million in professional services in connection with the development of the blockchain and crypto technology development project.
And you know, we didn't pay with cash, so it was from our shares. But Even so you know we recorded you know it as it has to be it's an accounting expense even though you know we didn't spend hard cash or greenbacks on it.
And so the last from operation from the quarter ended December 31st, 2021 was about $9.9 million and the total net loss including the administrative and salaries and general expenses, you know, total was about 10 and a half million dollars and again you know the bulk of it you know more than the 90% of it which mainly due to the professional services that we pay for in connection with the development of the crypto and blockchain technology programs and those, you know, will benefit us in the long term.
It's just not one or two quarters, you know, so please keep that in mind and you say cash [outlay?] and cash that we have put out, but it will come back to benefit us. And of course you know we can always offset future income, you know, with the accumulated deficit.
So it's not something waste, it is not. Please keep that in mind and why, you know, we didn't record the kind of revenue we would we'd wished to have and part of it, you know, the vinafilms as all of you have known.
We have a contractual agreement with vinafilms, but so far because of COVID situation, we cannot get the audit done. And now in Vietnam actually just the 15 of this month you know now travel commercial flights are open again you know so we can arrange for our auditor to come back and finish the audits for vinafilms in the very near future too. Yeah, we just had a talk with some of them just this morning about the audit. Also about audit of KOTA companies as well.
So that's still on our books and we will try to complete that as soon as possible. And of course many of you very eager or anxious whichever way we want to say regarding the buyback of shares, honestly at this juncture right now we are not buying back shares right at this moment. We have said in the language and in the announcement and the filing with the SEC as well that we have extended the buy back until the end of this quarter. But between now and then you know there is some priorities we need to pay attention to, especially the closing of the KOTA companies acquisition. The one for Five Grain you know we need to make a payment. That can be negotiated, because we still have until September to do the final closing.
I will share with you a little bit on how we can capitalize on the situation and make it beneficial for our company. So whatever you see on the filing today, you know is not representative of what's going to happen in the next three or six months because between now and then there'll be a lot of changes for the better. As we say 'cause with the closing of one or two acquisition, we be able to consolidate the numbers financial result from those target companies into PHI Group and that would change the picture very dramatically, yeah.
And. Going forward, you know I want to share with you a number of progress that we have made during the last quarter and even up to date. You know under KOTA transaction, even though we have not closed transaction yet, we have been able to arrange a bridge financing for KOTA to go ahead and wrap up the new revenue growth initiative and shareholder of the Company of our company through our contact, you know, stepped up and provided that the financing for KOTA to be able to capture the opportunity and ramp up their production their contract.
And the marketing and also operation requirements in order to meet the growth target. It sounds very, very bold very audacious yet very high goal. But yeah, KOTA Management and we believe you know we're able to accomplish those milestones. So that's them. And more recently we've been able to work with a US lender that has agreed to provide 80% of the financing for the acquisition of the KOTA Companies both KOTA construction and KOTA Energy Group.
We are currently working on the other 20% so that we have the complete package for the closing of this transaction. You know of course we have lender here in the US and also lenders from abroad that we have submitted or disclosed to the SEC through our 8K filings and so forth.
We've been working with them very closely. There have been some very good progress. It's not done yet, but among the ones who have signed up with we believe you know, we'll be able to close some of them, if not all of them. So it's still in the work. It's not done yet, but you know it's not something we have given up or anything.
We will only announce and share with our shareholders and the public when it's already clear and firm. So please keep that in mind. You know we are not done with those yet. And then on the Five Grain acquisition front, we have made some very, very interesting progress as well. As far as the financing for this acquisition, we have worked, been working on a number of avenues. And whichever that comes first and more appropriate or suitable, we will choose that one to complete the transaction.
There are a couple of investors in Asia that have shown interest in participating. So that is very promising as well. And I will need to meet with them in person very soon to workout the details, but in principle you know they have agreed to doing certain things that we help expedite the close enough transaction.
And on the Empire Spirit side, the good thing is we have already been able to get the commitment of a number of growers in Vietnam that will be willing to grow sorghum for us in order to supply to Five Grain, but also to provide to Empire Spirit as well because we have already designed and will be launching an off brand of empire spirit to hit the market sooner than later because initially we were planning to wait until the closing of the transaction before we do that.
But now we have rethought the strategy and want to launch our own brand, even before the closing of the five grain acquisition. So those are very, very positive progress, especially growing Sorghum in Vietnam for example, you know it shows a number of benefits. Number one, of course. You know we can use the grain for our baijiu for our liquor stealing, but the same time, you know the sorghum stock and so forth can be used to make pellet, you know for energy and then to generate energy as well. So its one stone, two, two or three birds.
You know, it's a good thing. Before in Asia, mainly they were thinking of growing grain, I mean sorghum. There are number of companies that have set out to grow sorghum just mainly for energy purposes. And on the CO2-1-0 Corp corporation, the Carbon Mitigation program we have that Choky is running. We are now in the pancake swap period but the company has already taken steps to go ahead and list the token on an exchange in the very near future and also alongside, you know, we also have a marketing program to broadcast to propagate, I mean to share our information with the general public on a wider, wider scale. So to let people know.
So we believe in the next few months we'll see very good progress with the CO2-1-0 Carbon Corp program and the good thing is we have been able to get a number of project owners from hydro power producers in Indonesia through solar energy companies in Vietnam and here in the US also in Canada. And also we have also reached out to Latin America to South America, yeah. So we'll be working very hard and very aggressively to expand our bandwidth and our coverage so that there will be more and more people being able to come and join our program. So that's having very good progress and we believe it will, it will get better and better.
And the fun side. Yeah, we we have a minor change with the domicile, I mean the address of the fund will be moving them to a new location. And you know I will have to go back to Luxembourg to find a place for the long term office together with our fund and all our subfunds and also other operation that would be a conduit between the Luxembourg and Asia as well. So for the time being.
We have make that that change and we'll move forward with the launching of the fund toward the end of this quarter and early next quarter. Well, the good news is, besides the private investors that we have known on a personal basis who have shown interest in commitments invest into the fund, we actually have not really done any broad scale, I mean, marketing for the fund yet, but recently we have signed up with the trade commission of the US Department of Commerce and together with the US Embassy in the UAE, in Switzerland, and the UK, and so forth so toward the end of March and we'll be meeting with a number of major investors in Dubai and in Abu Dhabi through the setup and arrangement of the US Department of Commerce and US Embassy in UAE and then around the middle of April will be also meeting with some major investors introduced by US Embassy in Switzerland.
So alongside with our private network, you know we have also been able to obtain the support of the US government in connection with a number of major investors in a number of countries, and then we will go to Hong Kong to Singapore, Japan, and Mexico between now and the end of the year. So we believe overtime, our funds will be better and better recognized and we'll be able to provide a point of interest for other groups to participate, and you know the neat thing we have and sometimes you know, I don't like to be like a broken record every time talking about the Asia Diamond exchange.
But it's the biggest thing we are doing because right now no other companies doing it and we are the only company that has this tremendous opportunity and we have made a lot of progress in spite of the adverse effects of COVID-19. But our partner in Europe, I want to use the term partners because you have a number of few core partners in this that have driven the process, that have gathered the interest, that have kept the momentum, that have been able to recruit people from around the world to join us and you know we our group has set up the International Diamond Bank in Botswana that will be a conduit for investment into the diamond exchange also to support [diamondteers?] operation.
You know, at the ADE and beyond as well. And, you know the Kimberley Process certification has been approved. I need to go back to Vietnam, maybe next week or the following week to work with the central and provincial government to get ready for the international press conference and also to prepare for licensing and to start the construction process.
As times go by, we get more and more people that become aware of our initiative. Just this past week, there's a group of Italian investors who have operations in other parts of Asia and they want to come and join us to be part of the multiple Commodities Center to set up their manufacturing there with us and we're talking about big, big groups with hundreds of millions of dollars.
It's not just one small shop, you know, and things like that the momentum has been built and has been getting better and better and better every day. And sometimes you know, of course, you know, our shareholders, I don't blame you, because of course we want to see stock appreciation. You know, sometimes if you wake up in the day and see they stock going down, you know, it's not a good feeling at all.
And you know, I myself as a shareholder in the company, you know. None of us, management have sold one single share. We have not sold any share. We will continue to accumulate, you know and buy more share in the company. We're not selling because you know we know this will be a create outcome and through all of this. So you know when you see other company, people are selling and don't say, oh, Henry is doing the same thing? No, I am not. I have not.
And I will not be selling shares in anytime soon. And every time of course I or anybody management of the company if we sell any stock you know we have to disclose with the SEC you will see right away. In the next day or two and then we cannot hide. So please and don't let the bother you at all. No I'm totally committed to the company, to our shareholders. You know, my stake is in the company. I'm not doing it just for myself, but for everybody as well.
So please take the longview and as I mentioned before, you know if this is not the appropriate stock for you, you know I don't want you to [leverage] your house and put money into the company. You have to plan accordingly you know that you can handle the fluctuation in the marketplace and also you know you have enough of a [??torrent of free step??], there would be suitable for you.
So please be careful but personally I say you know I'm totally committed and I have full faith in what we are doing and of course you know with the grace of God we believe that. We will get to where we are, we will and it will be a good thing for everyone. So I wanted to take a short amount of your time today just to bring you up to date to share with you, because this is the time of uncertainty and a lot of people can be affected by fear and you know, make the wrong decision.
So please keep that in mind and know that I'm totally committed to move forward and devote my time and energy to finish the task before us. Of course, we have multiple things going, but the biggest thing for us is still the Asia diamond exchange, which we believe will we change the fortune not of our company alone, but you know, even for the country of Vietnam and many, many people that are connected with this project throughout the world as well. Alright, thank you very much, ladies and gentlemen, and have a good evening.
Source: https://www.youtube.com/watch?v=bv_E2-ClQos
2/8/2022 - Conference Call Transcription $PHIL
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01/27/2022 - Conference Call transcript
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PHIL Conference Call Transcript - 01/20/2022 - Transcribed by msb341-Lady Di
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Maybe $PHIL has to file tomorrow so we will see a filing. They need to fix the late filing issue though. It must be taking awhile to go through all the financial information as stated below:)
PART III – NARRATIVE
The Registrant is unable to file, without unreasonable effort and expense, its Form 10-Q for the fiscal quarter ended December 31, 2021, due to the requirement for additional time by the auditors to review its financial information to be included in the referenced Form 10-Q.
Source: https://www.sec.gov/Archives/edgar/data/704172/000149315222004392/formnt10q.htm
I agree with you the "CONTRACTS AND COMMITMENTS" section is important as well because it will show the up to date money flowing into the subfunds. The ADVANCES FROM CUSTOMERS section is important too. Go $PHIL
The subsequent events section is what occurred up to a certain date. Here is the last one in the 10Q filed in November. The last one gave an update close to the date the filing posted. It showed shares issued and an update on the outstanding loans. When one of the loans closes yes an 8K will be filed. Not sure if an 8K will be filed after $PHIL makes the March Payments for Kona and Five Grain. Look for some shares issued to Kona and Five Grain. Also I am interested to see the amount of funds that went into the sub funds we should get an up to date number in the filing tomorrow.
NOTE 17 – SUBSEQUENT EVENT
These financial statements were approved by management and available for issuance on or about November 19, 2021. Subsequent events have been evaluated through this date.
1. ISSUANCES AND CANCELLATION OF COMMON STOCK
From October 01, 2021 to November 19, 2021, the Company issued and cancelled the following shares of its Common Stock:
A. Issuances:
a. Issuance of 1,533,000,000 shares of Common Stock for the Services Agreements dated September 21, 2021 with Johnny Park and Whankuk Je regarding the development and launching of the ADE Tokens in connection with the Asia Diamond Exchange.
b. Issuance of 54,750,000 shares of Common Stock for the conversion of one half of the principal amount and accrued interest of the convertible note with EMA Financial LLC dated March 23, 2021.
c. Issuance of 52,196,586 shares of Common Stock for $215,898.13 accrued and unpaid salaries.
B. Cancellation:
Cancellation of 235,478,810 shares of Common Stock previously issued to PHILUX Global Funds SCA, SICAV-RAIF for initial capitalization.
2. FINANCING CONTRACT AGREEMENT WITH HAJ FINANCE GROUP
Effective October 17, 2021 the Company signed a contract agreement with Haj Finance Group, a corporation registered in Oman, Hatat House Ground Floor, Ruwi, Muscat, Sultanate of Oman, for a financing program in the amount of $1,500,000,000 which carries an interest rate of 2.5% per annum for thirty-five years with a three-year grace period. The closing of this transaction is to occur after the registration of a Special Purpose Vehicle (SPV) within United Arab Emirates, the signing of the closing documents and the approval of the transfer of funds by the Central Bank of United Arab Emirates (CBUAE). The Company intends to use the funds for the establishment of the Asia Diamond Exchange and the Multi-Commodities Center in Vietnam, for financing selective projects in the areas of real estate, renewable energy, healthcare, and for other investment opportunities in connection with PHILUX Global Funds SCA, SICA-RAIF, a group of Luxembourg bank funds sponsored by the Company.
3. BUSINESS COOPERATION AGREEMENT WITH DIGITAL SOLUTIONS COMPANY LTD.
On November 1, 2021, the Company signed an Business Cooperation Agreement with Digital Solutions Company Limited, a Vietnamese company, to cooperate in developing technical solutions for a variety of industries, including real estate, energy, agriculture and healthcare using digital, blockchain and crypto technologies.
Digital Solutions currently assists CO2-1-0 (CARBON) CORP, a subsidiary of PHI Group, Inc., to launch the new disruptive carbon mitigation initiative and will also support PHI Group with technological solutions for the Asia Diamond Exchange to be established in Vietnam, as well as jointly advance a number of special projects for the benefits of both companies.
4. LOAN AGREEMENT DEED WITH NEOK FINANCIAL INCORPORATED
On November 14, 2021 the Company signed a Loan Agreement Deed with Neok Financial Incorporated, a corporation organized and existing under the laws of United Arab Emirates, with office address located at Trade Center Road, Bur Dubai, Dubai, United Arab Emirates, for a financing program in the amount of $2,000,000,000 which carries an rate of fixed interest of 2.00% per annum for the term of thirty-five (35) years. The closing of this transaction is subject to the registration of a Special Purpose Vehicle (SPV) within United Arab Emirates, the signing of the closing documents and the approval of the transfer of funds by the appropriate oversight authorities. The Company intends to use the funds for the establishment of the Asia Diamond Exchange and the Multi-Commodities Center in Vietnam, for financing selective projects in the areas of real estate, infrastructure, renewable energy, healthcare, and for other investment opportunities in connection with PHILUX Global Funds SCA, SICA-RAIF, a group of Luxembourg bank funds sponsored by the Company.
Source: https://www.sec.gov/ix?doc=/Archives/edgar/data/0000704172/000149315221029573/form10-q.htm
Here are messages Henry sent to some shareholders. The subsequent events section in tomorrow's 10Q will be the most important part of the filng like all the rest were in the past.
The message below was a question concerning the increased AS and 1A.
The message below was a confirmation that Henry attended Harvard Business School.
The message below was a question about Henry's releationship with one of the biggest diamond distributors De Beers Diamonds.
The message below was a question related to Kona.
Not sure Gold. Maybe some certificates where put in a brokerage account.
Yeah I agree it all depends on when the information is sent to the TA. I gave you the official response:) This is how the OTC Markets Transfer agent verified program works that $PHIL is a part of.
Share data displayed on www.otcmarkets.com alongside a "Transfer Agent Verified" logo has recently been verified by the company’s transfer agent as reliable and trustworthy. This data is also disseminated through OTC Markets Group's market data feeds to investors and broker-dealers.
The Transfer Agent Verified Shares Program provides investors current and reliable share data. The program enables stock transfer agents to report their clients' share data, including authorized and outstanding shares, to OTC Markets Group on a regular basis via a secure, electronic file transfer.
You can do a request if you want but the answer will be this.
Here is buyback info from one of the recent transcripts.
This $PHIL Tweet is very informative.
PHI GROUP INC@PHIGROUP·45m$PHIL We are pleased to announce that the bridge financing we have arranged for KOTA is not dilutive to either KOTA or PHI Group. We look forward to concluding this acquisition and supporting KOTA's plan to reach the revenue target of $1billion within the next twelve months. GB
Source:
$PHIL We are pleased to announce that the bridge financing we have arranged for KOTA is not dilutive to either KOTA or PHI Group. We look forward to concluding this acquisition and supporting KOTA's plan to reach the revenue target of $1billion within the next twelve months. GB!
— PHI GROUP INC (@PHIGROUP) February 15, 2022
The subsequent events section in next week's filing is the most important section to read. It should include current $PHIL activity.
$PHIL tweet and info from Kota CC explaining the bridge financing.
PHI GROUP INC@PHIGROUP·2h$PHIL We were successful in arranging bridge funding for KOTA to act on their planned growth and revenue target of up to one billion dollars. KOTA is already well on their way towards achieving this goal and the additional capital allows them to strengthen their resolve. GB!
Source:
$PHIL We were successful in arranging bridge funding for KOTA to act on their planned growth and revenue target of up to one billion dollars. KOTA is already well on their way towards achieving this goal and the additional capital allows them to strengthen their resolve. GB!
— PHI GROUP INC (@PHIGROUP) February 14, 2022
Yep the $PHIL news flow will probably start with the subsequent events section in next week's 10Q.
Important $PHIL deadlines in Chronological Order.
Provided by DarkHawk
Chronological Deadlines
2/10/22 Funding Commitment due for KOTA acquisition
2/14/22 10Q due for period ending 12/31/21
2/22/22 Last day to file 10Q with extension
3/4/22 1-A Offering period begins
3/12/22 Last day to close KOTA
3/18/22 First tranche of $32 million due for FGTS
5/16/22 10Q due for period ending 3/31/22
5/23/22 Last day to file 10Q with extension
6/18/22 Second tranche of $32 million due for FGTS
9/18/22 Third and final tranche of $32 million due for FGTS
9/28/22 10K due for period FY 21-22 due
10/13/22 Last day to file 10K with extension
11/14/22 10Q due for period ending 9/30/22
11/21/22 Last day to file 10Q with extension
2/14/23 10Q due for period ending 12/31/22
2/21/23 Last day to file 10Q with extension
3/4/23 1-A offering period officially ends if not terminated sooner
There goes the launch of the PHILUX Global Subfund for Agriculture. The CC today just got more interesting:) Go $PHIL
Can't believe I am saying this but I am starting to like Paul. When Paul is around he keeps all the other MM's in line and the price is more stable. You rock Paul LOL.
Questions about $PHIL go here.
https://twitter.com/PHIGROUP
Yep the force is still strong with $PHIL
2/8/2022 - Conference Call Transcription $PHIL
Transcribed by VRNAQLR
Introduction
Ladies and Gentlemen, first thank you for taking the time for joining our conference today, and it's a delight to have out of deal with us, and it's a very special occasion for us because today we have the management of KOTA companies, KOTA Construction and KOTA Energy Group being with us.
Again it's a delight to have all of you with us then some of you are from other countries as well so your time zone may be different but that's why you know we consider very special that out of you are here and we want to take this time to thank you for being with us and please bear with me for one second. So we want to take this opportunity to introduce to you the management team of KOTA. We have Cole De Arman, CEO, Kevin the president, Michael Cozzie the CFO, and Scott Hyde the CRO of KOTA with us. It is a great pleasure and privilege and honor to have all of you with us today.
Safe Harbor Statement
Before going to the presentation of course all of you are familiar with the safe harbor statement. Because of the forward looking natures of our discussions, some of the things we are doing in the future sometimes based, because of different circumstances and events and so forth may differ from what we wish to accomplish. So we want to keep that in mind. I would just give a very quick overview of PHIL because many of you are already familiar with the company some of you may be new so we're not going to spend too much time on it like company was founded in 1982 trading on the OTC market fully reporting with the SEC trading symbol PHIL. We have 60 billion shares of common shares and authorized 500 million of preferred about 28.8 billion shares common stock issued and outstanding, with 600,000 shares of nonconvertible preferred stock issued and outstanding.
PHIL Corporate Overview
Our corporate strategy, we build and deploy resources with distinctive competitive advantages, we participate and compete in attractive businesses that may have large and growing market potential and create long term value and provide points of exit for investors through capital appreciation, sale or spin-off of business units.
And our scope of business we have the luxembourg bank funds is a group of funds that we have designed to invest into real estate infrastructure, Energy, and healthcare, etc. With different compartments. We have been working on the Asia Diamond Exchange in Vietnam. We provide advisors consulting services for corporate clients. We engage in merchant acquisition as a principle, meaning we do the acquisition ourselves you know for our own portfolio. We also provide mergers and acquisitions services to international clients for a fee as well. We also engage in special situations. Especially recently we have launched the CO2-1-0 CARBON CORPORATION which is involved in blockchain and crypto technology, though some of the services and industry involved.
We have a number of subsidiaries: Investment fund, Luxembourg Fund, Philux Capital Advisors, Asia diamond exchange, PHI Vietnam Investment Development Co., American Pacific Resources, Vinafilms International which used to be called American Pacific Plastic. We've changed the holding company name to Vinafilms International. Phivitae Healthcare, Empire Spirit, the holding company for five grain treasury spirits, and also CO2-1-0 Carbon Corporation. We have also established a holding company, Philux Global Energy as a holding company for renewable energy transactions and also as a holding company or platform for rollup strategy.
Update on Turkey Trip
Before introducing KOTA management, I want to give a quick update on my recent trip to Turkey and back so that our shoulders may understand where we are. You know we have received a number of commitments and we have signed agreement with several funding sources in the Middle East, Switzerland and in the Middle East, including Dubai, Egypt, and Oman and part of the trip was to process the paperwork and to set up the SPV - Special Purpose vehicle for this transaction. We will be able to get part of the paperwork done.
I got the security clearance on myseslf and also the tax to ID clearance, setting up bank account for that matter, but on the corporate side we still have some more work to do and we have engaged a local offer from a Turkish law firm to assist in the process, especially with the legal, administrative, tax, and banking issues. We are working on those at the moment. Of course the proof of funds have been verified, however, there's still more work to be done before the closing can be accomplished, so we will keep you updated on that.
And of course some of you want to have immediate answers. Unfortunately, we cannot disclose or announce any public information on an individual basis if it's not final yet, so please bear with us and some of the transaction may or may not work out due to certain requirements, because you know it has to be in full compliance with not only the US Treasury Department, but also international legal system as well.
So please bear with us on that and we will keep you updated. When it's ready. And unfortunately I cannot answer individual questions. Some of you try to find out where we are on that. I just cannot tell one individual without telling the other, so that's why. Please, if you ask a question sometimes I don't answer them directly for obvious reasons, so please understand. But we will keep you updated and as soon as the final result, ready to announce.
Introduction of KOTA
It's a great great pleasure for me to welcome KOTA management team with us and I would like to turn over to KOTA management so that you can introduce in more detail. To our audience and also please feel free to share as much as possible. The transaction we have, I mean the success story of KOTA, Your competitive advantages, what sets KOTA apart.
The KOTA/PHIL relationship is a very unique one, a very important one for us at this juncture, and I will spend some time to talk more about the details of the deal and how we are going to go forward and accomplish this.
With that being said, my warmest welcome to all of you Cole, Kevin, Michael, and Scott for being here with us this afternoon with our shareholders and investors as well, and some of even fund managers also present with us in this conference. but thank you very much. But I went to turn the forum to you, so please feel free to take it on from here. And then I will come in at the right moment. Thank you very much.
Cole De Arman - CEO
Excellent Henry, thanks for the intro. Appreciate you guys all having us. Good afternoon. Good evening. Good morning depending on what part of the world you're in. My name is Cole De Arman. I'm CEO of KOTA Energy Group and KOTA construction. I'd like to introduce my calendar parts on here as well. We have Kevin Radabaugh on the call.
He serves our President, Michael Cozzie, our CFO, and Scott Hyde, our CRO. They're gonna take a little bit of time here further on. In the presentation to talk to you about a future growth development, our core values and how a lot of these things have come to be, so I think we'll just go ahead and dive right in here and just talk about the two entities in themselves.
As you know, two separate ones being KOTA Energy group and KOTA construction. A little background and context, and how you know KOTA Energy Group is actually formed. My self and Kevin Radabaugh we owned a smaller company, which was just a sales engine, origination engine for solar. You know residential, solar and commercial installs back in 2016 to early 2017.
Throughout that we met Scott and Michael Cozzie along the way and they also owned a number smaller solar company which we then formed had our first, you know? Merger acquisition happen, and thus we formed a KOTA energy group on the guiding principles and core values of become, create, give. KOTA Energy Group.
At that time late 2017 was just a sales origination engine for solar companies, so our whole model was that we're gonna have a direct sales side with the KOTA Energy group and we're going to aggregate volume and take other sales dealers or sales engines and help give volume to certain EPC's or solar installation engines across you know the state of California and by doing so it you know, helps aggregate volume. We're able to drive down costs for KOTA energy group and we had, you know, two models that time.
It was KOTA guys out selling. You know the brand of code itself and then we had also dealers that were. You know other entities and we’ll get to further on the presentation. You know sun up solar, create energy solutions. What have you that were also sending deals through us that you know we were helping with the project management side of things and help them get jobs installed and you know the growth of their companies as well.
We did that till about the end of 2019 when it came time to really control the process. We're here to deliver the best customer experience on the planet, and we feel like the only way we're able to. We were able to actually do that is by controlling the process from start to finish. So when a solar you know system is sold here in United States, it has a finance engine mechanism, tied to it, and then of course you have to be the equipment procurement company.
Which KOTA construction is and those are the guys actually performing the install. So when we look at the flow of money, KOTA construction, is the actual construction company where the labor boots on the ground, managing the project from start to finish, doing the site survey, getting permission to operate from the utilities what have you, the finance company, would pay KOTA construction and then KOTA Energy Group is thus paid as a sales engine or dealer. So later on if we were to, you know. With our P&L, you'd see that we have KOTA Energy group as the sales engine, and then there's a multitude of other sales engines that we serve as the install company for.
With that being said, that's kind of the overview and flow of money. Just to reiterate, two separate engines just to keep them separate. KOTA construction is all the labor side of things. The operational entity, and thus KOTA Energy Group, is the sales engine. Can we go to the next slide here, Sir? Yeah, thanks, thank you. Alright, Scott, I am going to turn it over to Scott Hyde, one of the most amazing human beings I've ever encountered, Scott. I’ll just let you take it from her, sir.
Scott Hyde - CRO
Thanks Cole. Thank you, Henry. We're super excited to be here. Just I guess a little bit about who we are as a company and how we've grown in success and what we attribute to. As Cole mentioned, we were really just a handful of small sales engines that were trying to kind of carve out a name for ourselves in the solar industry. I think we all believe that solar was a fantastic industry for us to be involved in and had a tremendous upside and and runway ahead. And this is back in 2014.
We really, really started and as sales engines and when we came together. We wanted to do something that was different instead ourselves apart from what felt like quite a few competitors in the market. And so we focused most on the things that we cared most about. Which was how do we create the best experience for both our employee and reps and for the customers? And we based it on a few founding principles of become a better person, create a better experience and give a better or create a better environment and give a better experience.
And as we started to work on really kind of separating ourselves from the rest of the engines and the market, we found that the vast majority of sales engines were really just a lot of mercenaries and they were looking for maybe the most the biggest paycheck or the biggest signing bonus or whatever it might have been. That kind of lined their pockets the most. And as we started to realize that.
If we want to create something that has sustainability, so we wanted to create it in a foundation and principles that actually change people's lives more so than it was just about money. And. So everything we did from all the decisions we made about how we're gonna move the company forward and grow. We're all based on. You know number one. What would I wanna do if this is my grandma's house from an equipment standpoint and things like that?
And then what would I want to do if I was the rep myself and how I want to be treated? And so all of our all of our core principles and values that we base our decisions on were focused on achieving that end. To that point, as we start tell our story and and create a of vision about where we want to go and what kind of company wanted to become, we realize that we want to have really strategic partnerships with those individuals in the industry that we didn't have expertise in.
So in the procurement side of the business as well as the financing arm in the business, we developed very, very strategic partnerships with us in the largest and the largest in the nation in terms of those particular pillars, so CD green tech and goodleap, he was formally known as Loan PAL, which in and of themselves represent the two largest partners in the space from a distribution standpoint and a finance standpoint.
Really created deep deep relationships with them and made sure that as we grew we were in lockstep with their principles as well as they were lockstep with ours and that gave us tremendous advantage going forward. So to that end to give you maybe a handful of nuggets that would help illustrate those points. We have very very favorable terms, with goodleap from financing standpoint that most companies our size would not be afforded and simply because good leap believed in those core values and principles that we also believed.
With CD GreenTech they agreed to go into partnership with us and things that were very very unique such as VMI or vendor managed inventory that allowed us to track our days on receivables, excuse me, our days on payables and made it so that we could have really just in time inventory and it was. It was tremendous for us to have that to accelerate our growth without stymying our cash flow.
We wouldn't have been able to do those things without those partnerships and those partnerships came about simply because of the principles that we built our company on. We attracted a Rep base or a, uh, a sales Rep clientele type that also wanted those same kind of principles too and as we as we focus more and more on that culture piece rather than just the profit margins, we found a tremendous foothold in the market that other people just didn't have any sort of carve out a place that was different and it's led to our success.
And as we've met with the PHI Group and with Henry and his partnership groups. They have lined up incredibly well with us. And as we like to say when good things happen to KOTA, we say God smiles on KOTA and when we met with the PHI Group, I can say with confidence that's how it felt. We felt like God smiled on KOTA again. So when we look forward to future and look at what we where, we've come from those same core values that we based our company on will continue to be the things that shape our decisions in the future. And as we do, we're very confident that will continue to have Providence smiling on us.
Kevin Radabaugh - President
Well, I'll echo my partners here. Very grateful for the opportunity to talk with you guys today and part a little bit of our story where we come from and why we feel honestly that we're so special and blessed to have this relationship with Henry and PHI group. Some of what I'll talk about now in terms of what sets KOTA apart is probably going to sound a little bit redundant from stuff that my partner Scott Cole already spoken about, but as we talk about what sets KOTA apart, I think it's extremely important for everybody on this call to understand that we are more than a sales and installation engine in the solar space.
There are plenty of solar companies out there right now that install just as fast as we do, that may have quality as high as we have and that have more volume than we have from a sales perspective. We're, you know we're arrogant sometimes about certain things, but we're not prideful to the point where we can say that we're very best in all those areas. Where we can say that we stand apart from every other company is in these core values that we embody and we believe wholeheartedly, that that's what's going to drive us to become the largest force in the solar industry to be reckoned with.
Especially in combination with PHI group here. So what I mean by that is again, Scott already mentioned this Cole touch on briefly as well, but when we came together and formed KOTA, what we decided that we wanted to change and become is we wanted to create the best customer experience and the best employee experience on the planet, and although that sounds like a hefty goal to have, we believe very, very much we could accomplish that.
We all come from different sectors of the industry, whether it be finance, installation or sales where we felt that there was one that was doing well in one of those aspects, but none that did well in both. and So what we decided and again, Scott touched on. This is that every time we made a decision for the company, whether it be a change in direction, whether it be a new hire, whether it be building a tech platform or whatever, it might have been, we asked ourselves, is this going to provide a better customer experience, and is it going to provide a better employee experience?
And if the answer is yes, we did it. If the answer was no or even just yes to one of those, we went back to the drawing board we started over. It's extremely important for us that that become our driving mantra and what that's enabled us to do is it's enabled us to attract the right people to come to KOTA. We have within KOTA a human behavior and organizational coach that's on our staff and something that he's mentioned to us time and time again is that businesses are nothing more than a compilation of people and so every time we attract a new person to come and work with us, we make sure that their core values are aligned with ours.
Again Scott touched on these already, but our core values are to become a better person. To create a better environment to give a better experience. I'm gonna touch a little bit more in detail on what these things mean and how it actually trickles down to the actions of our company and the programs and the systems we have in place that kind of fall back on these core values.
So in terms of becoming a better person, we know that in all we do we have to become better people first, and this is something that we drive into every single one of our employees. It's something we talk to our customers about. And what we mean by this is that we don't want our people, our family here at KOTA to just become better at their jobs.
Although we know that's important to drive the bottom line and make sure that we're profitable and that our revenue is high, we want everybody to go home and to become better people in their home as well. We want them to become better in their families, better at their, you know if they’re students. Whatever it is that they're doing better in their hobbies, want them to become better people, and so there's a lot that we do to kind of coach them and to give them principles and guidance on how they can actually affect this change in their own personal lives.
Part of that is this human behavior and organizational coach that I mentioned he meets with our sales and operations teams weekly and he doesn't just coach them up on skills. You know that they can apply to their jobs, but he talks about gratitude practices. He talks some about relationship, betterment, mental health and Wellness, all sorts of things that can help them become better people. So that core value to us is extremely important because we know, as you become a better person, it leads you into our next core values which are create a better environment and to give a better experience.
You can't do those two without doing the first one, so. In terms of creating a better environment, something that we focus very high level on at KOTA is we create a very transparent and honest environment in our communication. All of us, as founders, have never hidden information from anybody in the company. If anybody asks us. How much revenue do we make? What is our profit? How does it work? Where do we tweak this and where do we pull back on that?
We're willing to pull back the curtain and showing how the business works because we believe that as we're transparent, honest with them, they do the same for us. Another part of this is holding ourselves and each other accountable. Not only as an ownership group, but you know from the top down. We want to encourage all of our people to acknowledge their failures so that we can all help each other grow and become better. So that's part of creating that better environment. Another piece of this is we promote healthy competition.
We know that that ignites us all to be better. There are a number of different programs that we do throughout the year on a monthly basis that push our sales engines and to push our operations engines to be better yesterday than they were the day before better today than they were yesterday. Part of that is we have programs you know in sales and operations we call it contenders program.
It's kind of a boxing theme that a lot of people really get behind and have excitement with, which essentially what it is that every single month everybody resets at zero.
Whether you're in sales or you're in operations. And you get a chance to earn different levels of achievement. This is something that we feel very passionate about because it drives our people to be better it drives them to really push for more production, push for more volume and to do it at a high quality, high level of quality and high level of safety as well.
So there are all sorts of different programs that we do to really push and become a better you know to create that better environment. The other side of it is getting on the last one is giving a better experience. We know that everybody you know in human experience, we just want to experience better, right? So we do a lot to give back not only to our employees and our customers, but give back to our communities and to our fellow humans as well. We've partnered up with several charitable programs just last year alone we partnered up with three or four.
Operation Underground Railroad, being one of them, as well as Give Power and several others that have enabled our people to essentially take portions of their paychecks and donate to these causes that we feel are very near and dear to our heart. So it enables all of our people to not only give you whatever charities they want to, but for us to be able to sponsor those things as well.
And allow them to give back and feel like they're doing something better for their communities. So on top of our core values we know that you know what that's led us to be able to do is to create the best sales processes in tech platforms in the industry. You know, we've created another company called Sonobe which is a sales enablement platform that allows a sales Rep to be able to do everything from start to finish.
Managing their projects, designing the system, selling it all within one single place. It's never been done in the industry, and as soon as KOTA started using this platform, our volume increased substantially. So we're very focused on new ways of building tech and sales systems to enable our salespeople to increase in volume dramatically.
Same thing on the operation side. Currently we use a CRM called quick base. That's very customizable. We feel that we've built a very best portion of that or version of that in the industry as well. That enables our operations personnel to track projects and manage those from start to finish without letting things fall through the cracks and keep ourselves on really, really good tight SLAs and timelines.
On the operation side as well, our quality and inspection, we have a very high focus on quality and safety. We have an 86 plus point quality and safety inspection on every single one of our installations, which we rarely ever get complaints from a customer on quality and safety of the jobs that we've installed.
We're very, very focused on making sure that they have the best experience in that regard. And when they look up at their roof. Everything is clean, flush, safe and everything looks better than they thought it would, right? So very very focused on that. And lastly top tier equipment is our standard. You know. As Scott mentioned before, Scott is the one that's in charge of building all of our partnerships with our key players in the industry. And he's done an excellent job at making sure that we're able to access top tier equipment at standard tier rates and that allows us to be able to give the customer the very best experience possible without having to increase price and raise it to the point where it's out of reach for them. So very very focused on making sure we have differentiators in the space. These are just a few of them that set KOTA apart and things we all feel very very passionate about.
Henry – Summary of KOTA-PHI Transactions, Strategic Fit, Finance Details, What to Expect
Alright, well thank you so much. Cole, Scott, and Kevin and Mike for sharing your great success story of KOTA and what sets KOTA apart. It's a true delight for us to collaborate to cooperate and work with you and we look forward to building this into something even much much bigger down the road here. and at this juncture I want to summarize our KOTA PHI transaction for those of you who are not familiar.
You know we have signed a definitive agreement to acquire 50.1% of both KOTA construction company and also KOTA Energy Group for a total purchase price of $64,125,000 to be paid in cash and we believe this transaction will provide a number of very crucial, very unique strategic fit for us here because PHI, as a company we have launched Philux global funds which have a number of sub funds, one of them being the Philux Global Renewable Energy Fund and part of that, we will support other clean energy renewable, energy players in the industry, especially in in Southeast Asia.
We also support our own renewable energy initiative as well, so this is a great fit for the fund and for what KOTA is doing. And number two we have launched CO2-1-0 Carbon Corp Carbon Emission Mitigation program, which is ongoing right now and that is also a great fit between KOTA and Carbon Corporation. At the present you know all the project owners, homeowners of KOTA, you know those home owners or project owners, they own a portion of the renewable energy, clean energy climate fighting mechanism, but they are not really paying attention to it.
But when we can incorporate that towards CO2-1-0 Carbon Corp we are able to monetize, or to capitalize on the credit the carbon credit. From those installations from those customers as well, so it would be a win-win for everybody. For the homeowners, for the broader owners, because they will earn the carbon credit they can make money to their own system which is now being wasted away.
And then of course from KOTA site, you know where we already share in that revenue, profit stream and then for CO2-1-0 Carbon Corp we have another project owner that is part of the Big Picture program, so it's a beautiful combination that will be beneficial to everybody involved in the program. And by the way, I want to touch base a little bit on the status of CO2-1-0 blockchain token.
You know right now we are in the presale stage. It's been listed on Pancake Swap right now, but we have also applied for binance and kucoin? and it will be very soon. Will be fully treated and in exchange so you know at this juncture of course not all of you are qualified or suitable, but those of you who can take advantage of the presale state to get involved, we believe this is a good time to enter.
But of course you know how only for those of you who are qualified and suitable not for all of you, and I will talk about the deal. How do we finance the KOTA PHI transaction which amounts to around $64 million? We have already had a number of funding commitments on the loan financing side which we are working on. Not one but several of them, you know.
So we intend to use the bulk of it from the long term debt financing with very low interest rate, but at the same time to be on the safe side of course, those who want to lend money to us in the long run, the long term financing program also want to see our equity stake in the deal as well.
And for that matter, we have decided to follow a Reg A plus registration to raise capital through our equity as well. And we'll be announcing that as early as this week so that you know not only our shareholders but the investment community would be aware and we have to be able to be very flexible and also agile and handling the situation to make sure that we can complete the transaction because you will add a lot of value to the company, the enterprise and for everybody involved.
You know the opportunity for KOTA to be able to grow by leaps and bounds and we will listen to how KOTA to will be able to implement an imminent growth plan in a little bit after this slide. And we believe that a lot to be expected from the KOTA and PHI relationship with our becoming partners in this growth plan so we be able to work with KOTA hand in hand to support KOTA’s growth plan immediately with what I believe from there will be in the next slide will be sharing that part what the imminent growth plan is. And actually it has been carefully laid out, very detailed, completely feasible, it's doable, and it's being done right now.
It's not something that would be done, we will do in the next month or the following month, but it's happening as we speak and then we'll be able to bring in a number of new, very innovative products and services that will enhance and intensify, escalate the revenue stream and also the profitability for KOTA and also for KOTA, Homeowners, project owners, customer as well. It's all around. I mean we've been situation for KOTA for their customers and for us you know the sponsor as well.
So it's something we'll be announcing very shortly in the very near future here. And with our network especially on a global basis in emerging markets, in particular with able to expand and use the best practices of KOTA to enter new marketplaces. You know with the system for example, that's been developed by KOTA. That's something it's it's very, very unique. Nobody has it.
Out there, and especially in new growing market, you know we can also use the system not only to advance the solar installation, but also can introduce other products and services that are very useful, very beneficial for consumers as well. And we do have those products and services in place to ready to be implemented and there are number of things we are doing right now that will help Phi Group to be able to upgrade to a senior market very quickly. KOTA is more than qualified to be one of those components, but at the same time you know we just announced the vinafilms international operation.
Some of you just look at it on the surface. You don't know what kind of value that can be generated from the disposable bag program that we provide to the food and industry. I mean food and beverage industry. That's also a huge initiative that will propel the not only the sales revenue and profit but also the valuation of the company and then we have the five grain acquisition. We have done a taken very bold very active and fast tracked step to enter and make deals and agreement with growers in Southeast Asia so that we be able to provide the raw material, the sorghum. You know with our technology, our own seed to provide to not only five great, but you know other users of the product as well.
So those three prongs you know will create tremendous value for the company going forward. And if we look at what it is right now, you know we. Some of you may not see everything yet, but yeah, you know it's it's not one thing by itself. It's all interconnected that we'll be able to create value for the company. Now we're going to the next slide and after you have had chance to listen to the elaboration on the imminent growth plan of KOTA, you know what kind of value it can bring to all the stakeholders and shareholders of both companies of KOTA group of companies and our shareholders as well.
And we can use this as a platform for grow up strategies also acquire other businesses in the same industry. It is not necessarily just solar construction or solar energy alone, but other renewable energy businesses that can be bundled can be rolled up to create creative Value for companies and shareholders.
So we believe there's a lot to be expected and with great expectation we believe that you know it will be a great winner for us, for both not only PHIL ourself but for KOTA and also for shareholders of both companies and other people that be involved with us and with that being said, I want to invite KOTA management team to come back and share with us on the imminent growth plan because in the press release we mentioned that with adequate financial resources KOTA can be on a path to generate up to $1 billion in revenue within the next 12 months, for some of you who have not heard management of KOTA mention, you know, maybe pipe dream.
No, it is something that is solid, well thought out, carefully laid out, ready to be implemented and it is being implemented. As we speak, so we'd like to invite KOTA management team to come back and share with us. You know what it means to embark on the imminent and exciting growth plan KOTA. Now please thank you.
Michael Cozzie - CFO
Alright thank you Henry, so Michael Cozzie here. Yeah I just want to go ahead and lay out you know the current market that we're in and the plans that we have for imminent growth and as Henry mentioned there’s secondary growth throat that can happen. You know internationally and on a whole bunch of different fronts, but what I'll layout for you here right now is where we're at and how we're going to get to that on the path to a billion.
So next slide there, Henry, if you want to show that we are, you know the intention here is to grow KOTA across the entire U.S. market, so that's the imminent plan. And just to give you a bit of a picture, I know that you know how. How do you grow so aggressively? You know what is the market cap there? What is the potential for that type of expansion?
If you'll see it here in some of the data that I put up and it's taken from the seia.org, the source is actually at the bottom of the slide there. Solar has, you know, increased in terms of electrical generation from just .1% in 2010 to nearly 4% today, and this is actually that was a 2020 stat. So in 10 years. From .1% to 4% and so. As of that, that date of that data, that's more than 100 gigawatts that have been installed just in the United States and the projection is that over the next 10 years. 348 gigawatts will be installed, which is almost 3 1/2 times that amount.
One other thing to note a side. You know, bit of data that's not in here is that new home sales are actually add greater than 4%. So even at that that 4% penetration that we have today, we cannot even keep up with new home growth. So the market cap is actually expanding even at the rate that solar is growing. So it's. It's pretty fantastic. The opportunity that lies ahead.
The next slide there. Henry, so the rate of growth for solar in the United States has been 42% and it currently powers 18.9 million homes. And then if you look at electric capacity that's been added to our grid, solar has ranked either first or second in in. Uh, you know over the last eight years, with 43% of all new electric capacity to the grid coming from solar, so that's pretty fantastic. That's that's very substantial, and when you look at you in the previous slide of.
You know, if over almost half of our electrical grid is only getting us 4% coverage the runway there for market share is just phenomenal and that's one of the things that gets us so excited to hear you know the opportunity for growth. What we have before us. So this slide. Here. Nearly 250,000 Americans work in solar as of 2020 and there are more than 10,000 companies that exist in the solar industry from sales engines to material suppliers to installation companies, finance companies and all the you know, affiliated entities that make this up. You know?
It's that's quite a bit of of of companies, but in 2020. $25 billion of private investment was generated just in the solar industry.
So when we talk about a path to a billion, we're really only looking at 1/25th. Of what has already been produced by this industry, so great opportunity there. This next slide, then we'll get more to the specifics of us, and just this will give you an example of the runway that we have in 2020-2021.
We did $50 million in contracts just a little bit more than that. The thing to consider is this was done in only California KOTA has only operated probably 96% in California. We have a few outlying deals and projects outside of the state, but the majority of our business is right here in California and in three different markets, the northern, Central and southern part of the state. So with that, just if we were to do nothing else but increase in the three California markets, the headroom there is to actually double the capacity of what we're doing just in those three markets without even adding anything externally, and that is already, as Henry mentioned, is already began.
We've already. Taking on new sales teams, we've already implemented new installation crews, bought new fleets, new warehouses. The expansion is actually happening already, and so that's super exciting. We are looking then at beyond California at five primary target markets, so we have one in Nevada. We have two in Texas and we have two in Florida.
And just by growing into those markets alone, we should be able to, you know, the projection is 7 to 10 X our current contract revenue which has this well on that way to you know that that billion dollars. Secondary markets there's a whole bunch out there and as we as we make good headway in these five primary, we will be looking at secondary markets to get into. You know, consider that with what I just mentioned. We're really only talking about four different states. California, Nevada, Texas, and Florida as our primaries, there's opportunity across the nation in every state for us to get into very aggressively, and we intend to do so. So the other you know point that I'd like to make with regards to our revenue and especially our margin is that California is traditionally.
Not traditionally, it is the hardest market to be profitable and it is very expensive here. From labor costs, material costs, gasoline for the fleets, the regulations are through the roof, taxes, all of that. It is hard to be a profitable solar company in California. I would dare say it's hard to be a profitable construction company in California. We have been able to carve out profit, good margins, and cash flow here in California. So it just excites to see even more when we look forward to the markets that we're gonna be getting into. In partnering with PHI Group and growing this business. So good stuff coming in the near future. Good stuff. Certainly long term, but I think you know the exciting part is. You'll see increase. Pretty much instantly, as we are already in process of doing many of these things that we're projecting and discussing. Back to you Henry.
Henry Closing
Alright, thank you so much Michael for sharing this very, very important information to our listeners so that we all can have a a good grasp of what makes it tick. You know? How can we get it done? You know? And you already started working on it, this is not waiting.
For it to be done now it's being done right now, so I want to share with it, not the next step that we we've been taking. We will proceed with the financial audit of KOTA. We already discussed with our auditor to start working on that and then of course.
Most importantly, is completing the acquisition financing for KOTA and as mentioned earlier we are working with a number of lenders a number of sources, just not one of them to make sure that we were built to complete this program for both KOTA and ourself and of course we will finalize. We’ll choose the most optimum solution for our transaction and in the interim in the short term KOTA and us. we have also begun discussing with certain groups to provide the bridge financing for KOTA new growth plan immediately.
And of course you know today actually Mike and myself were on the phone with the group in New York, but then we also have other candidates. We will work with and decide which would be the most suitable, most optimum for the short term bridge financing so that KOTA can continue with what they already started out with the new growth plan and so far it's working out very well and I'm very very excited very proud to see the kind of action you know, the quick move that KOTA Team has taken to advance the growth program and I have very strong faith that it will be a big success for the company.
For all of us. And so I want this as an opportunity to thank all of you who have taken your time to the join us today to listen to KOTA management presentation and also have some update on the PHI side. We will have a different call separately to discuss our other needs and our other developments so that our shareholders would be brought fully up to date and again. Thank you.
All of you have joined us and also thank you. All of you from KOTA management team for your time and for your efforts, your contribution and we look forward to working closely with you to make it a big success for all of us. Thank you very much and have a wonderful afternoon and God bless you. Thank you very much. For further information you can contact PHI group or KOTA. Thank you, thank you goodbye and God bless you all. Thank you. Bye bye. Thank you.
Source of the above transcript: https://www.youtube.com/watch?app=desktop&t=2157&v=Qar8syyIqqo&feature=youtu.be
Kenny that happened last time and Henry fixed the password closer to the meeting time.
Today's Conference Call Info.
PHI GROUP INC
@PHIGROUP
·
2h
$PHIL Please join us for a conference call with KOTA & PHIL management Feb 8, 2022; 4:30 PM EST, https://us06web.zoom.us/j/4177806661
Meeting ID:417 780 6661,Passcode:kotaphil or +1669 9006833 Meeting ID: 417 780 6661 Passcode: 47424335 or find your local number: https://us06web.zoom.us/u/kY7nnVkvV. GB!
$PHIL Please join us for a conference call with KOTA & PHIL management Feb 8, 2022; 4:30 PM EST, https://t.co/oT3hjOxbnN
— PHI GROUP INC (@PHIGROUP) February 8, 2022
Meeting ID:417 780 6661,Passcode:kotaphil or +1669 9006833 Meeting ID: 417 780 6661 Passcode: 47424335 or find your local number: https://t.co/GIn60OpKik. GB!
All that matters is that it is signed by this guy.
Authorized Person: Ahmed Aboul Gheit
Designation: Arab League Secretariat
Source:https://www.sec.gov/Archives/edgar/data/704172/000149315222002673/ex10-2.htm
Not sure Pokerpro. I would think it was taken the last time Henry was in Vietnam.
Yeah I expected an 8K too. Maybe we will get one this week?
Now that the Vinafilms PR is out a Kona PR with the CC information should be next IMO.
Not sure it seems the revenue comes from restaurants buying the coin. I guess these bags eventually go to customers and they see the ads and go to the restaurants to buy food.
How it Works
Recorded on a blockchain, each bag is verified, sealed and delivered.
Restaurants can rest assure that the food reaches their customers as intended.
Partner restaurants purchases SEALD tokens from the exchange and buys ad spots on the VeriSealed bags.
Once the bags are delivered, the customers can take advantage of any of the offers and earn SEALD tokens.
Tremendous benefits for restaurants.
VeriSealed Rewards Program can deliver direct and targeted impressions, promotional pages and coupons to drive consumers.
The SEALD tokens along with the VeriSealed bags intend to revolutionize the food delivery industry, insuring safety as well as promotions and customer loyalty.
PHIL should move easier with market Maker PAUL gone IMO. Go $PHIL
There will be a Carbon token AMA this morning. Go $PHIL
Hi Carbonian!
Thank you for your interesting questions about Carbon Token!
Don't forget to join today's AMA Session to get the answers Down pointing backhand index
Ask Me Anything (AMA) with The CEO of Carbon ??
AMA Date: February 3rd, 2022 | 15.00 PM (UTC)
AMA Venue: https://bit.ly/carbonAMA3
Source:
Hi Carbonian!
— Carbonian (@Carbonian_CO2) February 3, 2022
Thank you for your interesting questions about Carbon Token!
Don't forget to join today's AMA Session to get the answers 👇🏻
Ask Me Anything (AMA) with The CEO of Carbon 🎙
AMA Date: February 3rd, 2022 | 15.00 PM (UTC)
AMA Venue: https://t.co/wlPEyEVvHb
See you 👋 pic.twitter.com/fIn26moHwT