Replies to post #6757 on PHI Group Inc (PHIL)

[mythical_phenix]

Really?

First we read this, in a press release dated 8 September 2016:

Milost will receive shares of common stock in PHI Group for the equity investments with a price per share on the basis of 10-day’s Volume-Weighted Average at a discount of 20% at the time of issuance.

Today we read this:

The drawdown is in the form of a convertible note bearing interest at the rate of 5% per annum and convertible to PHI Group, Inc.’s common stock at the purchase price of $2 per share minus 20% discount.

That's quite a change in terms, wouldn't you say? Makes we wonder why the second mentions the 20% discount at all if the price is fixed to start. LOL!
And still we have no 8K filed describing this financing deal.
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