PHI Group Inc (PHIL)

[gemmerling]

Yep northernwind, the way I look at it is there are two types of dilution the good kind and the bad kind. I highlighted the bad kind below the rest is the good kind. If employee's hold their shares long term and don't sell any until after $PHIL is on the Nasdaq that is the good kind of dilution IMO.

NOTE 17 – SUBSEQUENT EVENT

These financial statements were approved by management and available for issuance on or about November 19, 2021. Subsequent events have been evaluated through this date.

1. ISSUANCES AND CANCELLATION OF COMMON STOCK

From October 01, 2021 to November 19, 2021, the Company issued and cancelled the following shares of its Common Stock:

A. Issuances:

a. Issuance of 1,533,000,000 shares of Common Stock for the Services Agreements dated September 21, 2021 with Johnny Park and Whankuk Je regarding the development and launching of the ADE Tokens in connection with the Asia Diamond Exchange.

b. Issuance of 54,750,000 shares of Common Stock for the conversion of one half of the principal amount and accrued interest of the convertible note with EMA Financial LLC dated March 23, 2021.

c. Issuance of 52,196,586 shares of Common Stock for $215,898.13 accrued and unpaid salaries.

B. Cancellation:

Cancellation of 235,478,810 shares of Common Stock previously issued to PHILUX Global Funds SCA, SICAV-RAIF for initial capitalization.

Source: https://www.otcmarkets.com/filing/html?id=15373064&guid=kyywkq652gwfJth