PHI GROUP, INC. (OTCMKTS:PHIL) Files An 8-K Unregistered Sales of Equity Securities
Item 3.02 Unregistered Sales of Equity Securities
On December 22, 2016, Henry Fahman, Chairman and Chief Executive
Officer of the Company, converted $250,000 of indebtedness owed
by the Company into 2,500,000 shares of restricted common stock
of the Company at the conversion price of $0.10 per share.
The above-mentioned conversion and issuance of restricted common
stock of the Company were effectuated to the resolutions of the
Companys Board of Directors effective March 12, 2012, extended on
June 6, 2012 to July 31, 2012, and then re- approved November 2,
2012, allowing creditors of the Company to convert any or all of
their outstanding indebtedness and accrued and unpaid interest
thereof into shares of common stock of PHI Group, Inc. by relying
on the exemption from the registration requirements of the United
States Securities Act of 1933, as amended (the Act), provided by
Section 4(2) of the Act and/or by Rule 506 of Regulation D
promulgated thereunder.
These above-mentioned issuances brought the total number of
issued and outstanding shares of the Companys common stock as of
December 23, 2016 to 19,480,413, including 5,673,327 shares of
common stock set aside for special dividend distribution.
to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
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PHI GROUP, INC. |
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(Registrant) |
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Date: December 23 , 2016 |
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By: |
/s/ Henry D.Fahman |
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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. PHI GROUP, INC. (OTCMKTS:PHIL) Recent Trading Information
PHI GROUP, INC. (OTCMKTS:PHIL) closed its last trading session up +0.040 at 0.145 with 35,015 shares trading hands.
