I texted back & forth with Henry on Thursday night, Friday morning Vietnam time. Right or wrong, based on the correspondence, I sold all 215M of my shares on Friday, thus part of the reason for the heavy volume. It took the entire day to sell, but even with no bid, I was able to sell everything. I don't know where the remaining 400M in volume came from. While I believe that Henry is working hard to get things going, his answers to my text were too vague, and made me uncomfortable. I wasn't in a position to risk $21,500, so I decided to sell. Actually, I ended up losing $12,900, as my total purchase price was $34,400. It's very possible that I made a huge mistake, but I simply couldn't take a chance. Below is a word for word copy of the text. Best of luck to everyone who still believes in PHIL & Henry.
Me: Henry ~ I need a more specific update than you’ve provided on your tweet. Shareholders have been kept in the dark way too long. Specifically, since financials have yet to be filed, how do you plan on avoiding delisting, and removal from the OTC to the gray markets? When, specifically, do you expect the new partners to enable you to move forward? Have the new partners addressed the ‘critical requirements’ that you mentioned in your previous text? We need an update with specifics Henry. The time for news is now, not a week or month from now.
Me: Please answer the above as best you can. If you would be forthright with your response, I wouldn’t have to keep pestering you. I’m simply trying to find out where we stand after this latest setback. Thanks.
Henry: Our stock price should rise significantly after we get the funds activated and begin to buy back shares in the open market. However, it may not happen before the end of this year.
Me: Henry, I hear you, but there’s a legitimate concern over PHIL being delisted to the gray sheets if financials aren’t filed. I’m not sure why you keep avoiding this concern, as I’ve seen it happen all too many times. If PHIL goes to the gray sheets, then nothing else matters. Under such a scenario, investors could lose everything. How can you allow this possibility to happen?
Henry: No problem. We’ll complete the audits and get the filings current.
Me: When?
Henry: January
Me: That may be too late. Currently, PHIL does not meet listing requirements. It can be delisted at any time for being delinquent on filing.
Henry: We’ll be fine when we are current with the SEC.
Me: I think we’re going around in circles. The bottom line is that PHIL is not current with the SEC. It can and very well may be delisted before January.
Henry: Even if it goes grey we can always get back on.
Me: Okay
AI
