It also says that the BB is contingent on loans. 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. Amount of repurchasable shares: As many as economically conducive and optimal for the Company. c. Total repurchase dollar 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 practical until June 30, 2023. f. The Company intends to fund the proposed share repurchase program with proceeds from long-term financing programs, future earnings, disposition of non-core assets and other potential sources, subject to liquidity, availability of funds, comparative judgment of optimal use of available cash in the future , and satisfaction of certain open contractual obligations. g. The share repurchase program will be in full compliance with state and federal laws and certain covenants with the Company’s creditors and may be terminated at any time based on future circumstances and judgment of the Company.
Here are the outstanding shares as of 03/31/2021: 16,948,202,519 And the outstanding shares as of 03/31/2022: 28,319,126,230 Thats an increase of 11,370,923,711 in one year .
If Henry was locking up shares that number would be going down. Why on earth would you dilute over 11B shares just to pay somebody to hold them?
NOTHING is on the books..NOTHING. If Henry is having somebody buy and hold those shares, there is money involved. Henry has no money.
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