PHI Group Inc (PHIL)

[Gundy75]

Convertible Notes. I'm not at all savvy on these bad boys. Trying to comprende a few things. Any help is appreciated.

1. What qualifies or prompts shares to be distributed prior to the maturity date? Everything Henry writes seems to have a maturity date a year after issuance yet shares always seem to begin pouring into the market around halfway to maturity.

2. Once that floodgate is opened can it be executed in full to convert the entirity of shares needed to satisfy the note or is it structured over time somehow? (That full value is around 70 million shares relative to the note shown below).

On June 12, 2018, the Company issued a new convertible promissory note to Crown Bridge Partners, LLC for $55,000, with an interest rate of 10% and convertible to Common Stock of the Company at 50% discount to the average of the two lowest trading prices or closing bids during the twenty trading days immediately prior to the date of conversion. The maturity date of this note is 06/12/2019.