PHIL How come that link is not noted in the filings? It looks like it is a fake link and not found in the 8ks, or news.. Why is that? Manipulation at work? ~ MM
The Company has satisfied certain international legal and administrative requirements, set up a Special Purpose Vehicle in United Arab Emirates under the name of PHILUX DUBAI GLOBAL LLC FZCO, Formation No. DAFZA-FZCO-CF-1095, License No. DAFZA-FZC-CF-1095.22, and is in the process of completing the Hawala Global Certification process with the Central Bank of United Arab Emirates and the Anti-Graft Clearance Certificate by the Gulf Cooperation Council towards the expected release of the financing proceeds.
What exactly is the "Hawala Global Certification" and the "Anti-Graft Clearance Certificate" ? Sounds like some official documents. Inquiring minds want to know. I googled them. In quotes. Exactly one hit each. The aforementioned 10Q.
Basically, a money transfer systems that doesn't actually transfer money but instead relies on a honor system of the participants. Apparently it works. For making a tuition payment maybe. Or sending a few hundred dollar to your kid.