PHI Group Inc (PHIL)

[gemmerling]

Henry needs to secure 20 percent of the Kona financing. He already disclosed in the Kona CC he has 80 percent secured.

And more recently we've been able to work with a US lender that has agreed to provide 80% of the financing for the acquisition of the KOTA Companies both KOTA construction and KOTA Energy Group.

We are currently working on the other 20% so that we have the complete package for the closing of this transaction. You know of course we have lender here in the US and also lenders from abroad that we have submitted or disclosed to the SEC through our 8K filings and so forth.
We've been working with them very closely. There have been some very good progress. It's not done yet, but among the ones who have signed up with we believe you know, we'll be able to close some of them, if not all of them. So it's still in the work. It's not done yet, but you know it's not something we have given up or anything.

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