$PHIL CC 07/28/2021 Transcript
This may not be totally word for word but it is close enough. Enjoy!
Now that our company is current with the securities and exchange commission and also with the otc market we can begin to discuss certain things going forward and we'll be able to share with you a lot more important information.
First in doing two things to launch the Philux global funds or group of funds and number two to develop and prepare for the Asia diamond exchange to be established in Vietnam. These three and a half almost four years were spent mainly on these major initiatives with the Sec and with the otc market and we are ready to get back on the OTCQB so that we can apply for trading with trade gate in Germany and also our plan to also list in Asia but that will come a little bit later.
In the past our staff was very active in Germany in Europe. There are a lot of followers we have some long-term shareholders from Germany and that part of the world as well so we want to be able to provide a venue for all shareholders as well as people who are interested in joining us to be able to participate and our corporate strategy as we have shared with you. You know we want to build and deploy resources that have distinctive competitive advantages we participate and compete in attractive businesses that have large and growing market potential and we want to create long-term value.
We want to provide points of assets for our shareholders either through capital appreciation or sale or spin-off of business units that's our overall corporate strategy and right now as far as scope of business is concerned we have the luxemburg bank funds that you will have a number of compartments or we call sub funds to invest in real estate, Infrastructure, agriculture, energy and etc and the Asia diamond exchange our advisory consulting services and our M&A advisory services for international clients as well as doing our own transaction as well.
Now talking about the present first let me go back one step here probably let's not talk about the diamond exchange first let's talk about the buyback program actually this is a very sensitive issue and I want to share with you. So far we have worked with a investment bank with a broker-dealer to assist us in the buy-back program and there are a couple of individuals that have also offered to assist in the process right at this moment. The buy-back program is not a one-day one-type thing you know we have filed the recent extension in December it's a very sensitive issue.
On the one hand we would like to see our stock rise a lot and rise quickly for our shareholders but we cannot expect that to happen quickly and on the other hand of course the company wants to buy back a lot of shares so we have a conflicting point here in a certain sense. We need to be very prudent we need to be very agile in the process of doing the buyback and every time we are able to book and secure a certain block of shares we have to disclose it with the Sec and so far we have made certain arrangements. We have not closed those transactions directly on our books yet. I mean disclose or report it to the SEC but as soon as we do that of course you know it will be public information and then you will all see.
In order to bring the company to the right level as far as a public corporate entity
you know there are a lot of things we need to do of course we want to upgrade and bring our stock to a senior exchange like Nasdaq or New York stock exchange for that matter. Now we are at this juncture actually it's healthy you know the way you know our stock trades and people actively trading that's fine you know but this is not the range where we want to see our stock at especially with the things we are
doing.
So in a nutshell we want to share with you the buyback program is underway it been arranged and certain things have been done but no booking on our books yet and then you know we cannot say exactly how many shares that we have brought back or how many more we do but the goal is we want to retire as many shares as possible in the
course between now and December and you know we also need to look at the reality of the marketplace and also the opportunities that we have and we need to make a decision please keep in mind whatever we want to do we want to make sure that we keep the interest of our shareholders at heart. We don't want to do something that will hurt our shareholders and that's why you know it's something we could do but we have to be very careful we have to be very prudent and we have to be very
sensitive to the needs of our shareholders.
So we will share with you more and hopefully very soon we'll be able to post the first block of a purchase on our books so that you know how much has been accomplished but right at this moment I know that's a burning question for many many of you and the bulk of the communications and messages that you have conveyed to me. I do understand I greatly appreciate it but i have to be very also honest and truthful with you as well now. When it's available we will let you know but it's all in the best interest of our shareholders and the future of the company because if the future company's price is strong then our shareholders will benefit from it.
Second question is about the dividend you know when we first started out at that time with APR we had a number of mining claims gold mining claims with very very high valuation from certain independent reports in the past and with the new technology high mapped technology that has been put in place. We believe that we would be able to generate very very significant value for our shareholders that's why we went ahead and declared the dividend because we were hoping that way we can share the benefits directly with our shareholders. Like the case of the technology in the past and that's our motto as well because we want to spin off or distribute special dividends from our holdings so that our shareholders will benefit along with the parent company.
As we move forward and besides APR we also have certain plans for the near future which we will share but right now you know we don't want everyone to discuss that because first things first. For the apr dividend to be economic or it can make economic sense for ourselves it has to have value we just cannot distribute a share that has nothing in it that doesn't have the right value and that's why we are still working on the APR with the gold mining claims and in the northwest and at the same time discussion with certain resource companies in southeast asia and elsewhere that we are planning to add into apr to create additional value for our shareholders to make the special dividend meaningful for all of us and so that's the plan you know we kind of said it's done yet because it's not but we will continue to work on it.
Many of you are also interested in knowing where we are with Vinafilms. Our auditors started started to work on the audit before the covid situation and then because of Covid it would stop. Right now our auditor is working on it for the 2021 numbers as well so the goal is we want to complete our audit on the U.S. side and then on the Vietnam side we will also complete the audit and this part of course it has to be done by a PCAOB register auditor so that we can combine the numbers for Consolidation so that's the plan that we have for Vinafilms. When that happens we'll be able to show the consolidated financial results for both Vinafilms and PHI Group.
Now that our company is current I want to share with you some very important information that can have a major impact on our company. As we disclosed in our filings with the SEC we also want to highlight it so that you can have the same understanding you know in order to do a diamond exchange there are certain requirements to be able to make it happen and make it successful.
Number one is the supply and one of the most important things for a successful training hub is the ability to secure plenty sustainable supply of rough diamonds in the case of rough diamond you know adequate supply is very very important you know in our last conference call with the chairman of quantum province you know our partner from Europe
confirmed officially that right now we have roughly about one billion dollars worth of rough diamond per year for the diamond exchange in Vietnam.
That's a very very important very unique thing it's not an easy thing to accomplish and thanks to god we've been able to do that we have been able to secure that size of rough diamond for the Asian diamond exchange.
Number two capital besides infrastructure facility system amenities to operate the diamond exchange the organizers must be able to arrange very large amounts of capital to facilitate the trade and other business activities related to the exchange we want to share with you that a new bank international diamond bank has been established to facilitate this industry not only for Vietnam but also internationally as well and
that would be a major momentous you know for the united chain in Vietnam.
Beside the international admin bank we have also received commitments from multiple parties that will join us to provide the capital to make this happen and the participants we must be able to attract large number of international avenues to participate in the exchange and right now we can officially share with you that we have some of the biggest International operators. I mean international diamond tiers that have agreed to join us to make Asia diamond exchange a success and these are the top participants in the industry we will arrange conference calls in the future after the official press conference in Vietnam.
We will invite our guests in the industry to share directly with our shareholders actually you know on a number of conferences for ourselves just like the one we have right now and fourthly yeah we need to have the Kimberly process certification scheme. The import and export from the ade the Asia diamond exchange of rough diamonds is only allowed within countries that participate in the Kimberley certification process
and the good news is the kpc Kimberly process certification license which is needed to become a kpc participant. It has already been approved and granted for us to do that with Vietnam that's major major news you know without that we cannot you know if you can have all the diamonds but you do not have the kpc license you cannot move rough diamonds legally into the system you know and all diamond trading companies in rough diamonds are applied to annual kpc membership subscription.
In order to be able to operate in the industry and the venue and they exchange the place the value must be able to provide competitive advantages compared with existing diamond exchanges. In terms of modern facility latest technologies status for the art provision tax relief financial facility facilitating the network from big investors retail banking lending institutions and foreign exchange facilities licenses and registrations and global multiple commodity trading platforms among other amenities and we are very fortunate because we have the full support of the Vietnamese government both on the provincial local government and also the central government to make this happen and Vietnam is the best suited location for the asia diamond exchange for the asia atmosphere and this is the first ever rough diamond exchange in history for asia we are the only company you know not only in America but in the whole world that has this opportunity to do it and thanks to our partners in the industry and especially our fund structuring agent and also advisor you know we have been able to in the past three and a half four years been able to complete all these requirements.
Now we can launch it officially and you know we don't want to run ahead of ourselves but I want to share with you is with the diamond exchange launch and going into operation and continuing doing what Dubai did with their dmcc model multiple commodity centers cmcc can be a very very big success in the region and also for all the stakeholders including
PHI group which is the organizer and sponsor of this program so I'm very excited to share this information with you.
Before the company was current I was not able to do that but now officially we can say that we have it. It will take some time for us to get the first part organized we need to go ahead and build the diamond exchange building first so that the diamond tiers can come in can start operating and then we can include other components like the polished diamond area and then we also moved the next step to do the lab grown diamond exchange among other things.
It's like it will be an ongoing development project like what happened in dubai so this is an ongoing thing you know our stock is not just for for a year or two years no it's gonna be we will continue to grow over the years once we get the first part done move on and second third and fourth you know it will be a series of developments that will bring tremendous value to the company and our shareholders.
That's what we are focused on doing right at this moment and as soon as the covid situation in Asia eases off a little bit you know I need to go back there as well but for the time being we have work to do you know in America and Europe and also in in Africa as well and then one or two more things I want to share with you.
In the next couple weeks we expect to announce some new developments that we believe will be a major addition to what we are doing with the two initiatives the bank funds and diamond exchange. We have one or two transactions that have been underway well very mature and ready to announce and we want to save it for an official unveiling of the new website of that program and also an official press release to the investment community and to our shareholders.
Then we will have another conference call at that time it won't be too long we'll be quite near and now that we are current we can move forward on those fronts because our international partners were also waiting to make sure that we are caught up with our filings and current with the SEC and now that we are and then on the listing some of our German shareholders have reminded me already today that yeah we gotta get
back and and apply to trade gate for our European shareholders and invest in that part of the world to be able to participate in our future as well.
Some people asked me what kind of dollar amount share price can we put on PHI Group? Unfortunately I'm not able to have the answer at this moment there are a lot of things that need to be done but I believe it would be much much better than what it is right now going forward now that we start implementing executing making things happen along the multiple fronts.
The ADE, funds and the two new initiatives which will be announced very shortly.
Well ladies and gentlemen well thank you very much for your time today and I want to announce the mainly the official status of the ADE with the confirmation from our international participants and partners and for the rest yeah we will have further updates for you.
An official press release with the unveiling of the upcoming announcement and thank you for your patience thank you for your support. I know some of you want to have immediate rise in our stock price but it's up to the market it's not something we can control so yeah I'm just doing the best on my side my part to fulfill my commitments and execute on the the plans we have set out to do and I wish you the great rest of the day. May god bless you and may god bless America in this time and hope all of you stay safe and and healthy thank you very much may god bless you all thank you.
