Someone else (post 65911) already advised you to wait until after the buyback is completed so that your fears are satisfied. No reason to beat a dead horse, no one is buying.
Nothing is a guarantee, but the odds seem to be in our favor.
WHEREAS, on June 29, 2020 the Company’s Board of Directors passed a corporate resolution to extend the time period for the repurchase of its own shares of common stock from the open market from time to time in accordance with the terms mentioned below:
1. Purpose of Repurchase: To enhance future shareholder returns. 2. Details of Repurchase: a. Class of shares to be repurchased: Common Stock of PHI Group, Inc. b. Total number of repurchasable shares: Up to 13 billion shares, or more as may be needed. c. Total repurchase amount: To be determined by prevalent market prices at times of transaction. d. Methods of repurchase: Open market purchase and/or negotiated transactions. e. Repurchase period: As soon as possible until December 31, 2020. f. The Company intends to fund the proposed share repurchase program with the proceeds from the disposal of a portion of certain non-core assets and from anticipated revenues of the Company.
g. The share repurchase program will be in full compliance with state and federal laws and certain covenants with the Company’s note-holders.
WHEREAS, in light of the adverse effects due to the prevalent coronavirus pandemic as well as the Company’s current corporate priorities, its Board of Directors has determined that it is in the best interests of the Company and its shareholders to further extend the Common Stock repurchase period to June 30, 2021.
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