PHI Group Inc (PHIL)

[Exit6]

Philux Global Trade new subsidiary?

https://www.nasdaq.com/press-release/phi-group-inc.-steps-up-ma-activities-by-acquiring-majority-interest-in-van-phat-dat

"The convertible promissory note, which is guaranteed by Philux Global Group Inc.’s financing programs and carries no interest, will be due and payable 180 days commencing the date of issuance and may be converted into common stock of Philux Global Trade Inc. any time after this subsidiary becomes a publicly traded company in the United States. The conversion price will be 50% of the average closing price during the ten trading-day period ending one trading day prior to the date of conversion.

The closing of this transaction is scheduled to occur by October 15, 2022, unless extended by both parties. Philux Global Trade Inc. will hold the 51% equity ownership in VPD and plans to file a registration statement with the Securities and Exchange Commission to become a fully reporting public company in the United States."