Yes, as Janice said, that is definitely another massive red flag. The claim of a dividend or spin-off is often used by penny stock scammers to suck in investors. They rarely occur and when they do, the stock is almost always restricted and impossible to sell, which makes it without value to the holders.
They seem to be taking every page out of the penny stock scammers' handbook.
Johnny Park set up a new Rush Gold Royalty Inc in Wyoming on August 29, 2017 just 4 days before PHIL announced it was going to acquire the mineral exploration company.
I've never looked at PHIL before but it took all of 2 minutes to see that Johnny Park has a lot of history with PHIL.
In December of 2016, PHIL acquired Abound Farms Inc which PHIL claimed has hydroponics operations using proprietary enhanced bioavailable nutrient and water treatment systems that could increase crop yields by up to 100 percent compared to prevalent existing methods.
Through the proprietary plant growth technology PHIL claimed that Abound Farms Inc had, PHIL was going to start some massive organic farming operation which was to include 408 acres in Florida.
PHIL was supposed to acquired the farm land in Florida in January of 2017, but still hasn't completed the purchase to this day.
Abound Farm Inc is now a defunct/revoked Nevada entity. Just a worthless over-touted subsidiary like this Rush Gold Royalty Inc subsidiary.
Going back even further, Henry Fahman (the PHIL CEO) has history with Johnny Park in Catalyst Resource Group, Inc (fka CATA).
In May of 2011 CATA had a wholly owned subsidiary named Rerun Recovery Inc which it acquired from (you guessed it) Johnny Park
According to the old CATA filings, Rerun Recovery Inc owned proprietary pre-treatment and separation technologies for the mining industry and also owned the rights to extract, exploit, process and sell minerals from a mine located approximately 60 miles from Anchorage, Alaska, known as the Beluga Alaska mine and the rights to extract, exploit, process and sell minerals from a mine located near Granite, Grant County, Oregon (sound familiar?)
Sure sounds like the same Oregon claims that PHIL also just acquired from Johnny Park.
So how did those claims do for Catalyst Resource Group, Inc (fka CATA)?
They produced nothing/nada/zilch!
Eventually CATA couldn't keep up the fake mining operations any more so it stopped doing its SEC filings. In 2015 CATA was suspended then revoked and now no longer trades
Ironically, PHI Group Inc was the largest shareholder in CATA at the time it acquired the mineral operations and when the CATA mining scam fell apart. Now Henry Fahman is recycling the same mining property in Oregon from the old CATA scam into PHIL.
It's too late at night to look at this any more right now. But just what I found in a quick few minutes of DD is pretty alarming though not surprising considering PHIL's obviously bogus claim about the value of the mining property.
Plus a quick peek at the press releases and you can see that PHIL claims to be involved in whatever industry is hot at the time (cannabis/blockchain/etc). Only scam companies do stuff like that. With all the toxic debt on the PHIL books (JSJ Investments, Power Up Lending Group, Auctus Fund, LLC, EMA Financial LLC, Crown Bridge Partners LLC, LG Capital, Einstein Investments LLC, Equity Trust Company, Adar Mays, LLC) it is easy to see why PHIL keeps using the latest hot trends to try to attract retail attention to buy the stock.
P.S. What is Henry Fahman's obsession with Vietnam? I notice he claims to be involved in a lot of stuff in Vietnam going back many many years plus there is the PHIL connection to Vietnam linked OTC ticker MYSN.
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