PHI Group Inc (PHIL)

[mythical_phenix]

Why does this remind me of an advance fee fraud?

Advance fee frauds ask investors to pay a fee up front – in advance of receiving any proceeds, money, stock, or warrants – in order for the deal to go through. The advance payment may be described as a fee, tax, commission, or incidental expense that will be repaid later.

From PHIL's 17 January 2023 8K:

1.2 Repayment of loans. PGG covenants to repay the outstanding principal amounts currently due TTG totaling Two Hundred Five Thousand U.S. Dollars (USD 205,000) and Twenty-Eight Thousand EUR (28,000 EUR) plus accrued and unpaid interest before February 10, 2023, irrespctive [sic] of the Closing of said Stock Transfer Agreement.