PHI Group Inc (PHIL)

[mythical_phenix]

Curious things about the convertible notes in the most recent 10K.

In the 'Calm Before the Storm' post (https://investorshub.advfn.com/boards/read_msg.aspx?message_id=172764912) we learn about two convertible notes issued in March 2023.
One was redeemed on 6 September which was a day with tremendous volume. That was the Diagonal Lending note, for $55,000.
The other note was issued 14 March to Mast Hill for $185,000. Yet no huge volume spikes on or after its 6 month anniversary.

The 10K is curiously quiet about this note. What is its status?

In the 'Subsequent Events' section of the 10K we read this:

During the quarter ended September 30, 2023, the Company issued ... 2,931,619,052 shares of Common Stock to Mast Hill Fund LP for exercises of warrants in connection with convertible promissory notes and equity line of credit dated March 1, 2022.

But what about that 'equity line of credit'? Well, in this same 10K we read:

On March 01, 2022, the Company entered into an equity purchase agreement with Mast Hill Fund LP (“The Investor”) as follows:
The Investor will provide an equity line of up to $10,000,000 to the Company, pursuant to which the Company has the right, but not the obligation, during the 24 months after an effective registration of the underlying shares
...
The Company intends to file an S-1 Registration Statement with the Securities and Exchange Commission for this Equity Line of Credit..

Did this happen? Apparently not. On 9 February 2022 PHIL did file a registration statement but apparently never followed through with it because on 6 January 2023 the SEC declared the offering abandoned. Was that registration intended to be for the Mast Hill equity line of credit?

https://www.sec.gov/Archives/edgar/data/704172/000149315222003542/xsl1-A_X01/primary_doc.xml
https://www.sec.gov/Archives/edgar/data/704172/999999999723000069/filename1.pdf

So what were the 2.9 Billion shares issued to Mast Hill for? And why does the filing say "in connection with convertible promissory notes and equity line of credit dated March 1, 2022." if that equity line of credit did not have an effective registration of the underlying shares?

Does Mast Hill still have these shares? Why? LOL! Inquiring minds want to know.
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