$PHIL tweet and info from Kota CC explaining the bridge financing.
PHI GROUP INC@PHIGROUP·2h$PHIL We were successful in arranging bridge funding for KOTA to act on their planned growth and revenue target of up to one billion dollars. KOTA is already well on their way towards achieving this goal and the additional capital allows them to strengthen their resolve. GB!
Source:
$PHIL We were successful in arranging bridge funding for KOTA to act on their planned growth and revenue target of up to one billion dollars. KOTA is already well on their way towards achieving this goal and the additional capital allows them to strengthen their resolve. GB!
We will proceed with the financial audit of KOTA. We already discussed with our auditor to start working on that and then of course.
Most importantly, is completing the acquisition financing for KOTA and as mentioned earlier we are working with a number of lenders a number of sources, just not one of them to make sure that we were built to complete this program for both KOTA and ourself and of course we will finalize. We’ll choose the most optimum solution for our transaction and in the interim in the short term KOTA and us. we have also begun discussing with certain groups to provide the bridge financing for KOTA new growth plan immediately.
And of course you know today actually Mike and myself were on the phone with the group in New York, but then we also have other candidates. We will work with and decide which would be the most suitable, most optimum for the short term bridge financing so that KOTA can continue with what they already started out with the new growth plan and so far it's working out very well and I'm very very excited very proud to see the kind of action you know, the quick move that KOTA Team has taken to advance the growth program and I have very strong faith that it will be a big success for the company.
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