PHI Group Inc (PHIL)

[facts_matter14]

NEW EYES: 8-K WITH DETAILS OF PLANNED BUYBACK OF SHARES

THIS IS WHY AN OS OF 24 BILLION SHARES IS NOT SCARY TO LONGS OR THOSE JUST GETTING IN, AS CURRENT ESTIMATES PLACE NUMBER OF SHARES TO BE BOUGHT BACK AT AROUND 18 TO 20 BILLON.

BE IT RESOLVED, that the Corporation is authorized to repurchase its own shares of common stock from the open market from time to time in accordance with the terms mentioned below:


1. Purpose of Repurchase: To enhance future shareholder returns.
2. Details of Repurchase:
a. Class of shares to be repurchased: Common Stock of PHI Group, Inc.
b. Total number of repurchasable shares: Up to 15 billion shares, or more as may be needed.
c. Total repurchase amount: To be determined by prevalent market prices at times of transaction.
d. Methods of repurchase: Open market purchase and/or negotiated transactions.
e. Repurchase period: As soon as possible until June 30, 2021.
f.
The Company intends to fund the proposed share repurchase program with the proceeds from the disposal of a portion of certain non-core assets and from anticipated revenues of the Company.

g.
The share repurchase program will be in full compliance with state and federal laws and certain covenants with the Company’s note-holders.

https://www.otcmarkets.com/filing/html?id=14587044&guid=bKCpUqciy4dsi3h