Replies to post #90824 on PHI Group Inc (PHIL)

[facts_matter14]

The auditor has a week left to get the Q1 done, so first things first.

VN is not open yet, and I seriously doubt the Auditor will be leaving India to spend the holidays in VN, working on an audit that is years in the making already, not to mention that the VF people likely won’t be spending the holidays helping the Auditor work on the audit.

With so much else of much more significance, needing to happen by year end, I really hope Henry isn’t spending time dealing with the VF audit.

Part of the reason we have seen so much volatility in pps is directly related to the expectation of the VF audit being done and reported, coupled with a buyback announcement, and when it hasn’t happened, we see people selling off and talking about the VF and BB failures.

2022 is around the corner. It will get done when it gets done. Henry has bigger fish to fry that will have a much great impact on shareholders. All IMO, of course.

[gemmerling]

Yep Kenny, this month is going to be a big news month for $PHIL. I think of Vinafilms on auto pilot, it will get done when the auditor has time in his busy schedule to go to Vietnam when it is fully opened up to complete the audit. The 1.5 billion financing when complete will make everything go BOOM!

Effective October 17, 2021 the registrant signed a contract agreement with Haj Finance Group, a corporation registered in Oman, Hatat House Ground Floor, Ruwi, Muscat, Sultanate of Oman, for a financing program in the amount of $1,500,000,000 which carries a fixed preferred rate of annual interest for thirty-five years with a three-year grace period. The closing of this transaction is to occur after the registration of a Special Purpose Vehicle (SPV) within United Arab Emirates, the signing of the closing documents and the approval of the transfer of funds by the Central Bank of United Arab Emirates (CBUAE). The registrant intends to use the funds for the establishment of the Asia Diamond Exchange and the Multi-Commodities Center in Vietnam, for financing selective projects in the areas of real estate, renewable energy, healthcare, and for other investment opportunities in connection with PHILUX Global Funds SCA, SICA-RAIF, a group of Luxembourg bank funds sponsored by the registrant.

https://www.sec.gov/Archives/edgar/data/704172/000149315221026574/form8-k.htm

On another note, effective October 17, 2021 the Company signed a contract agreement with Haj Finance Group, a corporation registered in Ruwi, Muscat, Sultanate of Oman, for a loan financing program in the amount of $1,500,000,000 with a preferred interest rate for thirty-five years and a three-year grace period. The closing of this transaction is expected to occur shortly after the registration of a Special Purpose Vehicle (SPV) within United Arab Emirates, the signing of the closing documents and the approval of the transfer of funds by the Central Bank of United Arab Emirates (CBUAE). We intend to use the funds to develop and construct the Asia Diamond Exchange and the Multi-Commodities Center in Vietnam, to finance selective projects in the areas of real estate, renewable energy, healthcare, and for investment opportunities in connection with our PHILUX Global Funds and other clients. A current report on Form 8-K was filed with the Securities and Exchange Commission on October 28, 2021:

https://www.nasdaq.com/press-release/phi-group-inc.-and-tpp-holdings-group-inked-mou-to-cooperate-in-luxembourg-real