PHI Group Inc (PHIL)

[saving_ryan]

This is where the rumor comes from:

5. INVESTMENT AGREEMENTS AND MEMORANDUM OF UNDERSTANDING

From August 24, 2020 to November 11, 2020, the Company through its Luxembourg bank fund mother holding company PHI Luxembourg Development SA and PHILUX Global Funds SCA, SICAV-RAIF has signed investment agreements and memorandum of understanding with three non-US entities for total investments of more than one billion U.S. dollars. However, as of the date of this report, the Company has not received any money from these investment agreements and there is no guarantee that any money will be received from these agreements and memorandum of understanding in the future.



We have received the agreements for the first two in Haj and Neok. The third loan is believed to come from Europe because of the strong ties within the company and ADE in Europe. We obviously won't know for sure until it gets posted and announced.

Anyway, that's where the rumor comes from.