PHI Group Inc (PHIL)

[Djk0689]

Not true he can still RS here are rules and regs

https://www.investopedia.com/ask/answers/071415/why-would-company-perform-reverse-stock-split.asp

Key takeaway section:

“A reverse split is often done to prevent a stock from being delisted or to improve a company's image if the stock price has dropped significantly”

https://www.investor.gov/introduction-investing/investing-basics/glossary/reverse-stock-splits

“Although the SEC has authority over a broad range of corporate activity, state corporate law and a company’s articles of incorporation and by-laws generally govern the company’s ability to declare a reverse stock split and whether shareholder approval is required.”

How will we know?

“If a company is required to file reports with the SEC, it may notify its shareholders of a reverse stock split on Forms 8-K, 10-Q or 10-K. Depending on the particular facts, companies pursuing a reverse stock split may also be required to file a proxy statement on Schedule 14A, if shareholder approval is required, or a Schedule 13E-3, if the reverse stock split will result in the company “going private.” Corporate filings can be found on EDGAR.”