1) Safe Harbor Statement
2) Delay was because we had to switch auditors, then COVID, and then he got stuck in India. But now we can move forward with the rest of getting Phil current which should happen mid-April.
3) No revenues were reported. We did receive about 1.3 million dollars during FY 2019 for participation in PhiLux but we didn't recognize it as revenue because the fund compartment was not fully activated.
4) Our expenses went up about $500k due to the Granite Mining Claims of APR.
5) Had about $72k on the books at the end of FY2019 as opposed to $14k the previous year.
6) Q & A was done via e-mailed questions.
7) Didn't want to talk about which spin offs would be uplisted.
8) Didn't comment on what would create long term value for shareholders to retain their shares after the dividend, other than this has been the plan for a while, he still intends on creating spin offs and other dividend distribution, and it's up to you if you want to sell or not. Sometimes the plans work. Sometimes they don't.
9) Revenues for 2020 and 2021 will be announced as they are filed. He will not speculate or announce pre-release.
10) The dividend is still on track for June... but it could change. He wants to build value in APR first so the dividend is not meaningless.
11) He still plans to buy back shares and retire them. As many as possible. And he has made arrangements for the financial means to do so. He cannot say that Phi Group has bought back any because they are not on his books. He heavily implied that he has negotiated transactions that have already started buy back. He just can't talk about it.
12) Only one noteholder left!!! He talked to him today to try to find a way to work it out so it didn't turn into dilution. They'll talk again tomorrow to try to find a solution. The noteholder is being difficult.
13) GILDEX /Crypto kinda fell by the wayside for a bit due to lack of investors and other things going on. The plans are still there and he's working on them but he can't say too much other than it's still alive.
14) We still have a business agreement with Natural Well and Dr. Frank Liu. He showed a box for Super Green. It's a high energy drink drop. There are other products from him that we want to work with. These plans are still being worked on as part of PhiVitae Healthcare.
15) The Bank Fund are really what is going to set us apart. We are the first and only ones with a Bank Fund in the entire Asian region.
16) SO FAR up until now, he has confirmed that he does not want to do a reverse split. Thats why he's buying shares. That being said... whatever he does do it needs to benefit the shareholders and the company. So if there is the opportunity to bring in a strong revenue generating company that would change the valuation of the company... he may have to take a reverse split in order to get us to Nasdaq. Short of that happening, he doesn't want to collapse the value for no reason. He's done that before, screwed up the timing, and it set us back. He's NOT saying that a R/S WILL happen. Just that he can't discount the possibility in the future.
17) The Vietnamese currency fluctuation did affect us but it is what it is. The Dong has been depreciating (story of my life).
18) The timeline for the senior exchange does depend on ADE, the launching of some sub-funds and some of our other acquisitions. Vinafilms were not completely disclosed in 2019. They still have to be finished. Once Vinafilms are done, there should be enough there to get uplisted.
19) There will be ANOTHER conference call next week so that he can talk more about the diamond exchange, the different facilities for polishing, etc., who would be involved with us, and funds. He wants to share pictures and other information via slides, etc. so we can better understand. It will be like the DMCC in Dubai (amenities and such to support ADE). Combined revenue in Dubai is 75 billion. In Asia, we are at an advantageous location to build it and make it happen as part of the new gross market.
As a reminder, please mute your mics if you're going to join in on his calls. It was ridiculous how much of this conference call was missed because people were watching on their iPhones and talking over him during key parts.
