PHI Group Inc (PHIL)

[KYCats]

So, what does everyone think the reason is for the continual below retail purchases? Lets go multiple choice.

1) Henry is buying back shares and does not care if he looses safe harbor.

2) Henry is controlling the amount of shares converted in order to keep the pps low for an upcoming buyback.

3) Noteholders have grown tired, and they are screwing him with no Vaseline to help the pain.

4) None of the above (please do not select this option without providing a well developed alternative reason)

All responses are welcome, but please keep answers focused on the topic and not the normal Henry is an idiot reply. Thanks!