Replies to post #32856 on PHI Group Inc (PHIL)

[Djk0689]

I found the following with two major differences. A lessor fund with more flexibility and a larger fund with more restrictions. You decide.

Eligible investors

Investment in a RAIF is limited to “well-informed” investors that are able to adequately assess the risks associated with an investment in such a vehicle. These are defined as institutional investors, professional investors and investors who have confirmed in writing that they adhere to the “well-informed” investor status, and who either invest a minimum of EUR 125,000 in the RAIF or have been assessed by a credit institution, investment firm or management company which certifies the investor’s expertise, experience and knowledge in adequately appraising an investment in the RAIF.

https://www.alfi.lu/en-GB/Pages/Setting-up-in-Luxembourg/Alternative-investment-funds-legal-vehicles/RAIF-(Luxembourg-Reserved-Alternative-Investment-F


Key elements of the Reserved Alternative Investment Fund

Flexible, easy-entry features
Can be set-up as an umbrella or single fund structure to allow a multi-asset strategy fund platform within a single Luxembourg vehicle. It has a wide range of share-class features, including different currencies and hedging exposure. The minimum capital requirements are relatively low at €1,250,000 within 12 months. There are no investment rules and restrictions except the requirement to adhere to the principle of diversification.

Clear prospectus requirements
The RAIF is not available to retail investors, only to institutional investors. The offering documents must emphasise the absence of CSSF supervision. A depositary is mandatory. Any asset class can be chosen.


https://www.tmf-group.com/en/services/capital-markets-and-funds/fund-services/reserved-alternative-investment-fund-services/

[facts_matter14]

Not that I need to provide information, but as I said in my initial account of what Henry said, he told me that even if the Vietnam partners came through, he still wanted funds from investors to be used to hire another accounting firm that could expedite the Vinafilms audit and for other things to help the company.

He told me he has a second mortgage on his home, so maybe he wants the money for that. I have no idea. I just know the conversation took place and that’s what he said.

So, some people say he asked for money and now some people say he said he doesn’t need money. You decide. Maybe both happened? Maybe he was asking too many people and some reported it on the boards, and so he stopped when people asked him about it. He asked me not to post anything and I honored his request until today, when I saw others posting about it and when he has not been responding to texts for several days now.

In the meantime, the fund is not activated, the Vinafilms audit is not completed, and the current filings have not been made.

Facts point towards him asking for money being accurate.