PHI GROUP, INC. (OTCMKTS:PHIL) Files An 8-K Other Events
Item 8.01 Other Events
Relying on Order for Reporting Relief
On March 25, 2020, the Securities and Exchange Commission (“SEC”) issued an order (the “Order”) under the Exchange Act of 1934 (the “Exchange Act”) extending the deadlines for filing certain reports made under the Exchange Act, including quarterly reports on Form 10-Q, for registrants subject to the reporting obligations under the Exchange Act that have been particularly impacted by the coronavirus disease 2019 (“COVID-19”) and which reports have filing deadlines between March 1 and July 31, 2020. The Company is relying on the Order with respect to its Quarterly Report on Form 10-Q for the period ended March 31, 2020 the (“Report”), which is due to be filed with the SEC on or before May 15, 2020 (the “Deadline”).
The Company is relying on the Order because, in light of COVID-19, non-essential businesses in the State of California have been closed by the state’s governor’s order, as result of which Company personnel, its auditors, and its legal counsel, who reside in California and/or have not been able to return from abroad, are required to work and communicate remotely, which has impaired their ability to complete preparation and review of the Report, as well as to assemble all documents necessary to complete the Report. Accordingly, in reliance upon the Order, the Company expects to file the Report no later than June 29, 2020 (which is 45 days from the Deadline).
About PHI GROUP, INC. (OTCMKTS:PHIL)
PHI Group, Inc. is engaged in mergers and acquisitions. The Company focuses on acquiring operating businesses in selective industries and invests in various ventures that may create long-term value for its shareholders. In addition, the Company also provides corporate finance services, including merger and acquisition advisory and consulting services for client companies through its subsidiary, PHI Capital Holdings, Inc. The Company’s business involves acquisitions of energy assets, as well as production and trading of energy commodities. The Company will continue to pursue its merger and acquisition program by acquiring all or controlling interests in target companies in various industries, including but not limited to conventional energy, renewables, natural resources, agribusiness, technology, transportation, education, distribution, mining, oil and gas, financial Services, healthcare and pharmaceuticals.
