PHI Group Inc (PHIL)

[Diversified]

So can someone explain this? Obviously it is $100,000 coming directly from officers of the company and I am pretty sure all this money went straight into the RAIF Fund just like I believe all the short term cash/notes have gone. But why take out a second mortgage and a cash advance from a credit card?

On September 20, 2018, the Company received $25,000 from Tam Bui, a director of the Company, as a short-term loan to be paid on demand. The interest on the loan is pegged to the interest rate for cash advance with American Express.



On September 21, 2018, the Company received $75,000 from Tristina Lam from a note with a face value of $80,000 secured by deed of trust of realty held by the President of the Company. This note is due and payable on November 21, 2018.