PHI Group Inc (PHIL)

[Djk0689]

Henry told us two cc ago that he had enough cash on had to payoff notes but he made a mistake and let the notes dilute.

He also went on to say he would make it right and take care of the diluted notes.

It was estimated to be around 10 million. Also a person close to Henry confirmed this to be the case after the cc. There was a rumor it was closer to 12 million but Henry has always said up to 10 million on buyback from what can be verified.

Henry has to have a large level of cash to activate the lux fund and participate in ppp projects based on requirements to do ppp bids.

Henry must have adequate cash on hand incase of an underbid or if the project delays and the budget goes over.

So to answer your question yes Henry has money on hand.