PHI Group Inc (PHIL)

[mythical_phenix]

Vinafilms. lol. Vinafilms continues to be bandied about by the phantasy spinners on stocktwits. Who remembers Vinafilms? Anyone?
Henry tells us he traded 50 Million shares of Class A Series III Preferred Stock of PHIL for 51% of the outstanding shares of Vinafilms back on 28 September 2018.

Wow. That's a lot of shares. What can you do with 50Million shares of Class A Series III Preferred Stock of PHIL? Well, the answer is:

3. Conversion of Class A Series III Preferred Stock of PHI Group, Inc. into Common Stock of American Pacific Plastics, Inc., a subsidiary of PHI Group, Inc.’s.

The entire Class A Series III Preferred Stock of PHI Group, Inc. (i.e. fifty million (50,000,000) shares) may be convertible into eighty percent (80%) American Pacific Plastics, Inc.’s Common Stock which will have been issued and outstanding immediately after such conversion or exchange on a pro rata basis.

What is the value of that? Well, American Pacific Plastics is no more. It was renamed to Vinafilms International Inc. And that? Defunct as of 8 September 2022:

Dissolution / Revocation - Tax - 2022-003832532 Date: 09/08/2022 Filing Status Changed From: Active To: Inactive - Administratively Dissolved (Tax)
Inactive Date Changed From: No Value To: 09/08/2022

What's the value of 51% of Vinafilms? Well, an audit might give us a clue. But Henry claims there ain't no audit but he's been working on getting one for over 4 years now. Who buys a company without knowing its value? Who sells control of a company for a stack of worthless paper?

Inquiring minds want to know.
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