PHI Group Inc (PHIL)

[Luca4U]

@ Diversified - You're right. The amount of the buyback is something that I can't call, HOWEVER, it's something that PHIL/Henry called and comes directly from his April 2, 2019 conference call, Part I, where he states a buyback of 5.3 billion shares when the O/S was at 5.85.

(Part I Cut & Paste) I. Stock buy-back program: As mentioned in the previous press release and Form 8-K filed with the Securities and Exchange Commission recently, the Company plans to begin a stock repurchase program to buy back 5.3 billion shares of its common stock or more in the open market from time to time from April 15, 2019 to March 13, 2020. The purpose of the repurchase is to enhance shareholder value. The Company plans the proposed share repurchase program with the proceeds from the disposal of a portion of certain non-core assets and from future earnings of the Company. The share repurchase program will be in full compliance with state and federal laws and certain covenants with the Company’s note-holders.

(https://www.globenewswire.com/news-release/2019/04/04/1797296/0/en/PHI-Group-Provides-Summary-of-Latest-Conference-Call.html)