PHI Group Inc (PHIL)

[mythical_phenix]

Too much! Sound familiar? Same "international ultra-high-net-worth investor group"? I'm sure this will turn out much better than all the previous fantasy 8ks.

From 8K on 1/5/2023:

On November 03, 2022, the registrant (the” Investment Manager”), signed a Financial Management Agreement/Contract (the “Agreement”) with an international ultra-high-net-worth investor group (the “Investor Party”) to manage an investment amount (the “Investment Amount”) of One Billion United States Dollars (USD 1,000,000,000) on behalf of the Investor Party for investment in select transactions and projects to be selected, advised and managed by the Investment Manager for a period of ten years. According to the Agreement, the Investment Manager shall be entitled to 15% of the Investment Amount for its own investment and benefits. In addition, the sharing of profits and dividends from the investment results of 80% of the Investment Amount will be determined by the two parties in a subsequent agreement.

Due to the nature of strict confidentiality and non-disclosure agreement, a hard copy of the Agreement will be submitted directly to the Securities and Exchange Commission.

From today's 8K:

On February 14, 2024, Philux Capital Advisors, Inc., a subsidiary of the registrant, (the” Investment Manager”), signed an Asset Management Agreement (the “Agreement”) with a ultra-high-net-worth investor group (the “Investor Party”) to manage a total principal amount of Five Hundred Sixty Two Million Five Hundred Thousand United States Dollars (“the Investment Fund”) on behalf of the Investor Party for investment in different transactions to be selected, advised and managed by the Investment Manager for a period of five years. According to the Agreement, the Investment Manager shall receive 5% annual management fee of the principal amount and share 30% profits from the Investment Fund.

The Company intends to allocate a large portion of the Investment Fund for initial investment in Saigon Silicon City project, the development of the International Financial Center and the Asia Diamond Exchange in Vietnam, Philux Global Energy’s geomagnetic energy technology initiatives and a potential joint venture with a leading international AI chip manufacturer to set up manufacturing facilities in Vietnam. In addition, the Company plans to implement its share buyback program as previously announced.

The Company expects to close a portion of this Investment Fund quickly and plans to allocate about $3.5 million from this amount to pay for the necessary expenses in order to close all the other pending financing packages.

Due to the nature of strict confidentiality and non-disclosure agreement, a hard copy of the Asset Management Agreement will be submitted directly to the Securities and Exchange Commission.