Replies to post #6868 on PHI Group Inc (PHIL)

[mythical_phenix]

I just don't get it. How can you issue shares to pay off a note, but have the note get substantially larger? How exactly does that work? From the latest 8-K

On April 6, 2017, the Company issued 750,000 shares of free-trading Common Stock of PHI Group, Inc. to Auctus Fund LLC, holder of a Convertible Promissory Note dated 8/16/2016 of the Company, for the conversion of $24,150.00, consisting of $20,651.71 principal amount of the Note and $3,498.29 of accrued and unpaid interest thereto, at the conversion price of $0.0322 per share. The principal amount of the Note after this conversion was $36,098.29.