Replies to post #99350 on PHI Group Inc (PHIL)

[facts_matter14]

This actually proves nothing about contracts with brokers/third parties.

You know we have until the end of March to manage our buyback program. We do have some contractual covenants that we’ll have to honor in conjunction with the buyback programs so we’ll have to do it accordingly.

Break it down:
“We have until the end of March to manage our buyback program.”
That’s accurate because the extension goes until 3-31-22. If it gets extended to 6-30-22, then Henry can say we have until end of June to manage our buyback program.

“We do have some contractual covenants that we’ll have to honor in conjunction with the buyback programs so we’ll have to do it accordingly.”
CONTRACTUAL COVENANTS IN CONJUNCTION, are the key words.

He did not say we have contractual covenants with the buyback program that must be met by the end of March.

Whatever contractual covenants he is referring to, they are not for the purpose of doing the buyback,

If it is as you say it is, then why didn’t Henry say that there are contracts in place with brokers/third parties, related to the buy back, which must be completed by the end of March?

Because that’s not the case and it’s not what he meant.

The verbiage can clearly be parsed any way someone wants to parse it. Bottom line is there is zero to indicate 20B shares are, and have been held since at least 2020, just waiting for Henry to buy them at below market prices.

The facts indicate this is not possible, namely that there are no contracts with any brokers/third parties, which prevent them from selling the shares on the open market at any time they want to.

Ask Henry about this and see what he tells you.