PHIL sold future receivables worth $89,940 for $60,000 and for the privilege of doing that PHIL had to pay various fees of $6000, so the net amount was $54,000 for $89,940 in future receivables. Ouch! Lol!
But the real questions is: What receivables could PHIL possibly have to sell?
Curiously, in the span of just a few days we find: 1. Henry abruptly decides not to file the most recent 10-K 2. One of the fake loan websites is now suspended 3. Two separate lawsuits regarding the selling of receivables and not honoring the terms of the contract.
Could these all be related? Is there something even more onerous in progress that we just do not know about yet? Inquiring minds want to know! --
Another UCC filing... This is quite perplexing. We have another UCC filing this one on behalf of Agile Capital Funding LLC and made on 2 March 2023. List of debtors includes various Kota entities and Phi Group, Inc whose address is listed as 5348 VEGAS DRIVE, LAS VEGAS, NV 89108 This address was the one used for the long and apparently still dissolved Nevada incarnation of the Phi Group, Inc. Why in the world is a dissolved corporation showing up in a recent UCC and and why are various Kota entities on this? https://bizfileonline.sos.ca.gov/search/ucc
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