PHI Group Inc (PHIL)

[saving_ryan]

I really don't know. International audit is out of my wheelhouse, however I have talked with a few colleagues who do have some experience and they have said that a full GAAP international audit can take quite awhile if documentation isn't readily available and certain disclosure items have to be tracked down. It's much more difficult than just a standard US GAAP audit.

I'll be honest, PHIL has me turned around and there is just too much going on for me to wrap my head around without having more details.

With that said, it would be odd to name change to Vinafilms International without some sort of forthcoming update, and there could be a number of reasons to strategically hold back the completed audit. Also, he has no obligation to immediately disclose it just in case someone tries to claim that he does.