PHI Group Inc (PHIL)

[Luka Brasi]

Good question.

For the KOTA construction deal the 8K states ‘
5.4 Special Distribution. Immediately following the Closing, the parties hereto shall cause KCCO to distribute Eleven Million Three Hundred Sixty-Six Thousand One Hundred Ninety-Nine U.S. Dollars ($11,366,199) of the Closing Payment received by KCCO from PHIL to Yato Consulting, Inc., Alpha Power Group LLC, Kodiak Cole Consulting LLC, and Mac Advisors LLC (each a “Founding Member”, and collectively, the “Founding Members”) pursuant to the terms set forth the Operating Agreement. The remainder of the Closing Payment will be used by KCCO for its working capital, expansion and growth.

For the KOTA energy deal the 8K states ‘ Special Distribution. Immediately following the Closing, the parties hereto shall cause KEG to distribute Two Million Seven Hundred Fifty-Eight Thousand Eight Hundred One U.S. Dollars ($2,758,801) of the Closing Payment received by KEG from PHI to Yato Consulting, Inc., Alpha Power Group LLC, Kodiak Cole Consulting LLC, and Mac Advisors LLC (each a “Founding Member”, and collectively, the “Founding Members”) pursuant to the terms set forth the Operating Agreement. The remainder of the Closing Payment will be used by KEG for its working capital, expansion and growth.’

Totaling it up looks like he will definitely need $14,125,000 of funds available to close the loan but not sure about the other monies. However if you read the 8K it seems that he will need all the money by the closing date or it will terminate.

https://www.otcmarkets.com/filing/html?id=15519643&guid=IQHwk6ImV7Prdth#EX10-2_HTM