PHI Group Inc (PHIL)

[pigsheaven]

CC Takeaway:

Humble not Arrogant CEO.
Walks with God and will be truthful.
Has the interest of the shareholders in mind.
Has declared publically to all shareholders that he is determined to complete the buyback of as many shares as possible.
The buybacks will be incremental and he will spin-off certain assets “if necessary” to make it happen.
They have the exclusive license to sell natural rough, finished and polished diamonds in Asia. They could start today but need to get the building built to go full speed ahead.
They have a press release about two major projects coming up in a few weeks.
The Vinafilm financials are in the works pending completion of an audit.
Company has been around since 2009, it’s not a startup.
Many activities including financial transactions delayed due to Covid.

My perspective:

How many Companies have the approval and the license to set up a Diamond Exchange. We are not talking about a liquor license. We are talking about a billion dollar Diamond exchange. They have overcome all obstacles and have the exclusive license and approval to do the ADE immediately. That’s Huuuuuuge!!!!!!!

Had he had the time to get the Vinafilms financials into the 10Q, I am convinced he would have. I think he was focusing on getting the companies financial reporting completed and current and did not want to interfere with that timeline waiting for the Vinafilm financials to be completed.

Don’t listen to the crying baby in the Church Service, listen to the sermon!