PHI Group Inc (PHIL)

[OnlyinitfortheMoney]

This could actually be a critical point: "The availability of the Company’s net operating loss carry-forward is subject to limitation if there is a 50% or more positive change in the ownership of the Company’s stock." It essentially means that, if the entire OS continues to trade, PHI Group will lose all its NOL carry-forwards. That's a shipload of money. And Henry must be well aware of it. This by itself would virtually force him to lock in half the OS, whether through buybacks or whatever. The problem I see, and correct me, o financial pundits, if I'm wrong, is that, if he retires those shares, he'll still be forced to lock in half of the remaining OS to stop them trading. Lehman Bros. got around this by turning all the shares it took back into one big share but not retiring them. That share cannot be traded, but it still exists and represents half the OS.