Replies to post #96381 on PHI Group Inc (PHIL)

[passinthru]

i had low expectations today and was pleasantly surprised, think i will play it this way the rest of the way.

[crazy horse 0]

PHI Group Files Form 8-K with the Securities and Exchange Commission Regarding Stock Repurchase Program and Schedules Shareholder Conference Call for April 2, 2019

The Company will buy back its common stock from the open market from time to time in accordance with the following terms:


Purpose of Repurchase: To enhance future shareholder returns.
Class of shares to be repurchased: Common Stock of PHI Group, Inc.
Total number of repurchasable shares: 5.3 billion shares, or more as may be needed.
Total repurchase amount: To be determined by prevalent market prices at times of transaction.
Method of repurchase: Open market purchase.
Repurchase period: April 15, 2019 to March 13, 2020.
PHI Group, Inc. will fund the proposed share repurchase program with the proceeds from the disposal of a portion of certain non-core assets and from future earnings of the Company.
The share repurchase program will be in full compliance with state and federal laws and certain covenants with the Companys note-holders.


On another note, as mentioned earlier and contrary to some previous rumors and speculations, the Company will not effectuate a reverse split of its stock.

https://www.otcmarkets.com/stock/PHIL/news/PHI-Group-Files-Form-8-K-with-the-Securities-and-Exchange-Commission-Regarding-Stock-Repurchase-Program-and-Schedules-Sh?id=222716