PHI Group Inc.

## Background

Originally established in June 1982 as JR Consulting, Inc., a Nevada corporation, to primarily engage in mergers and acquisitions, the Company changed its name to Providential Holdings, Inc. in 2000 after it acquired a California-based investment banking and asset management company. In 2009, the Company changed its name to PHI Group, Inc. In September 2017, the Company re-domiciled in the State of Wyoming, U.S.A.

The Company has formed and activated PHILUX Global Funds SCA, SICAV-RAIF, a Reserved Alternative Investment Fund (“RAIF”) under the laws of Luxembourg with several compartments for investment in selective industries and opportunities, especially in Vietnam. In addition, PHI Group Inc. provides M&A advisory and consulting services through its wholly-owned subsidiary PHILUX Capital Advisors, Inc. www.philuxcap.com, which serves as the Investment Adviser to PHILUX Global Funds.

## Board of Directors and Officers

Mr. Fahman has more than 30 years experience in general management, finance, investments and corporate strategy. He holds a B.S., Magna Cum Laude, in business administration from the University of California at Berkeley, with emphasis in finance and economic analysis and policy, and is a graduate of the Advanced Management Program (AMP166) from Harvard Business School. He has also attended other Executive Education programs at Harvard Business School and Stanford University, including Mergers and Acquisitions, Creating Corporate Advantage, and Advanced General Management. Previously, Mr. Fahman served as a Resettlement Coordinator for the United Nations High Commissioner for Refugees. He is currently Chairman of PHI Capital Holdings, Inc., a wholly owned subsidiary of PHI GROUP that provides M&A advisory and consulting services, and Chairman & CEO of PHI Luxembourg Development S.A., a Luxembourg-based wholly owned subsidiary of PHI Group and mother holding company for a Reserved Alternative Investment Fund to be activated in Luxembourg.
Mr. Fahman is a former captain in the South Vietnamese army for which he was imprisoned following the war in addition to imprisonment for attempting to escape following the takeover by the communist regime. Mr. Fahman successfully escaped Vietnam with the help of other defectors and in the words of Mr. Fahman, his Lord and savior Jesus Christ. Following Mr. Fahman's defection from Vietnam, he made it his life's work to pursue the advancement of Vietnam, both spiritually and economically. [Link to All In Interview]
[For transparency, the issue with FINRA/previous broker issue should be addressed]

 **Frank N Hawkins - Director & Chairman of Nomination & Compensation Committees**
Founder and former CEO of Hawk Associates with nearly 30 years of award-winning investor relations experience, Mr. Hawkins has earned the wide respect of Wall Street’s investment community for straight talk and integrity. He served in numerous capacities such as correspondent for Associated Press in New Delhi and Jakarta, chief bureau in Manila, chief Middle East services in Beirut, Business Manager and Administrative Director for Associated Press-Dow Jones, London, Vice President corporation relations and planning for Knight-Ridder, Inc., Miami, Florida, and President Access Asia Group, Hong Kong.
Mr. Hawkins has also been a member of Captain Intelligence Corpus, United States Army, Member Association of Former Intelligence Officers, President of Zoological Society Florida, member of Florida Keys Electric Corporation’s Board of Directors, President of Rotary Club, member of Audobon Society, Secure Outcomes’ Board of Directors.
 **Tam T Bui - Director and Chairman of Audit Committee**
Mr. Bui has served as Chief Technology Officer and intermittently Chief Operating Officer of the Company since May 2002. He holds a Bachelor Degree in Mechanical Engineering and a Master Degree in Computer Information Science from the University of Minnesota and has attended continuing Education at the University of California, Los Angeles. He has over 25 years of experience with Northrop Grumman, Honeywell, Inc. and TRW in various capacities such as Project Director, Department Manager, Project Manager and Program Manager. Mr. Bui is also a Managing Director of PHI Capital Holdings, Inc. and member of the board of directors of PHI Luxembourg Development S.A.
 **Tina T Phan - Secretary/Treasurer**
Tina T. Phan has been Treasurer of the Company since April 2009. She served as a Director and Secretary of the Company from January 2000 to April 10, 2009 and was Vice President of Operations of Providential Securities, Inc. from 1995 to 2000. Mrs. Phan holds a B.S. in management information system from California State University, Los Angeles. Currently Mrs. Phan serves as Treasurer and Secretary of the Company and a member of the Board of Directors of PHI Luxembourg Development S.A., the mother holding company of PHILUX Global Funds. Mrs. Phan is the wife of Henry D. Fahman.
 **Jack Hoang Vo - Vice President - Global Business Development**
[Insert Bio]
[Insert Bio]
 **Danny Le - Managing Director - PHILUX Capital Advisors**
[Insert Bio]
 **Dennis Maas - Vice President - PHI Vietnam Investment & Development Ltd., ADE Project Director**
[Insert Bio]
 **Lam T Duong - Chief Technology Officer - Sustainable Agriculture**
[Insert Bio]
 **Dr. Venkateswar Rao Gopisetti - President - PHIVITAE Healthcare, Inc.; Managing Director - PHI Vietnam Investment & Development Ltd.**
[Insert Bio]

## Subsidiaries of Registrant

As of March 31, 2020, the Company owned the following subsidiaries: (1) PHILUX Capital Advisors, Inc., a Wyoming corporation (100% owned), (2) PHI Luxembourg Development S.A., a Luxembourg corporation (100% owned), (3) PHILUX Global Funds SCA, SICAV-RAIF, a Luxembourg bank fund, (4) PHI Vietnam Investment and Development Company Ltd., a Vietnamese limited liability company (100% owned), (5) American Pacific Plastics, Inc., a Wyoming corporation (100% owned), (6) American Pacific Resources, Inc., a Wyoming corporation (100% owned), (7) Phivitae Corporation, a Wyoming corporation – name changed to “Phivitae Healthcare, Inc.” on March 17, 2020 (100% owned).

## Investments

We intend to invest in sustainable agriculture, healthcare, renewable energy, real estate, and multiple commodities in emerging markets. We also adopt a roll-up strategy by acquiring and merging operating businesses to pull their resources together, cut down on operational costs, and increase revenues.

## Share Buyback News and Speculation

1. **Purpose of Repurchase**: To enhance future shareholder returns.
2. **Details of Repurchase**:

1. Class of shares to be repurchased: Common Stock of PHI Group, Inc.
2. Total number of repurchasable shares: Up to 15 billion shares, or more as may be needed.
3. Total repurchase amount: To be determined by prevalent market prices at times of transaction.
4. Methods of repurchase: Open market purchase and/or negotiated transactions.
5. Repurchase period: As soon as possible until June 30, 2021.
6. The Company intends to fund the proposed share repurchase program with the proceeds from the disposal of a portion of certain non-core assets and from anticipated revenues of the Company.
7. The share repurchase program will be in full compliance with state and federal laws and certain covenants with the Company’s note-holders.

https://www.sec.gov/Archives/edgar/data/704172/000149315220024430/form8-k.htm

**Form 8-K March 4, 2020**
1. **Purpose of Repurchase**: To enhance future shareholder returns.
2. **Details of Repurchase**:

1. Class of shares to be repurchased: Common Stock of PHI Group, Inc.
2. Total number of repurchasable shares: 5.3 billion shares, or more as may be needed.
3. Total repurchase amount: To be determined by prevalent market prices at times of transaction.
4. Methods of repurchase: Open market purchase
5. Repurchase period: April 15, 2019 to March 13, 2020.

https://www.sec.gov/Archives/edgar/data/704172/000149315220003414/form8-k.htm

As you can see from previous slide the Method of repurchase was changed. and/or negotiated shares. Was added on 8k released March 4th 2020. Share increase was from 5.3 bil to 13 bil. With the newest 8k at 15 bil or more as needed.

A lot speculation out there, majority revolves around a broker has been buying shares on the open market through a negotiated contract/s through Henry.

We do know they were happening based off past discussions. We believe possibly additional 8 bil shares where bought in that time and could be much more based off time Henry changed the 8k to include negotiated shares. I urge you to watch the last two CC and listen to the wording he uses when talking about the buyback. Especially in the 2nd one, he basically in a way with certain words confirms the above has been going on. He has had about a year to quietly buy them up at 0.0001 and 0.0002.

Another interesting take - is in the 8k it states 15 billion, or more as may be needed:

Question is needed for what? A plan to reduce shares by this much normally means a company is intending to uplist or a company that is aware of value is coming into the share structure which will look to reduce the outstanding shares.

http://www.twitch.tv/videos/938334154 ←- Conference call 3/5/21 https://www.twitch.tv/videos/945689174 ←- Conference call 3/11/21

Privately Negotiated Repurchases

A privately negotiated share repurchase is another means for a company to repurchase its shares. Rather than repurchase its shares on an exchange or in the over-the-counter market (i.e., an open market repurchase), a company may decide to enter into share purchase agreements with individual shareholders.

What are the benefits of privately negotiated repurchases and how are they implemented?

Companies may consider entering into one or more privately negotiated repurchases to effect a share repurchase as they can provide a company a means to repurchase a sizable amount of its shares quickly. However, as the number of shareholders that are approached increases, companies may face significant administration expenses as well as potential illegal tender offer concerns. As a result, privately negotiated repurchases typically are limited to a few sellers. Like all share repurchase programs, privately negotiated transactions also are subject to Rule 10b-5’s prohibitions on repurchases made while in possession of material nonpublic information. Often the sellers provide representations and warranties about, among other things, their financial sophistication and knowledge about the company. Sellers also may waive certain claims against a company in connection with a sale.

Are privately negotiated repurchases covered by the Rule 10b-18 safe harbor?

No. In a no-action letter, the SEC declared that privately negotiated repurchases are not eligible for the Rule 10b-18 safe harbor,15 noting that privately negotiated purchases typically present little potential for manipulative practices and therefore do not require the protection of the safe harbor. Even though a company effectuating a privately negotiated repurchase may not avail itself of the rule’s safe harbor, it must nevertheless consider the applicability of the Exchange Act’s general anti-fraud and anti-manipulation provisions. Helpfully, shares repurchased pursuant to a privately negotiated repurchase are not computed into a company’s daily volume limitation, so a company may privately repurchase shares while also engaged in repurchases on the open market.

Accelerated Share Repurchase Programs

An “accelerated share repurchase” program (ASR), also known as an “accelerated share buy-back” (ASB), is another method companies employ to repurchase their shares. In a typical ASR, the company enters into a “forward” contract with an investment bank at the inception of the program. At that time, the company typically makes an upfront payment to the bank, and the bank borrows the company’s shares in the market from existing shareholders and delivers those shares to the company. The bank satisfies its obligation to return the borrowed shares by purchasing shares in the open market during a pre-agreed period of time. Typically, the company receives additional shares at the end of that period, although depending on the stock performance and the initial delivery of shares, the company may be obligated to return some of the shares to the bank, or pay cash instead.

An ASR allows a company to retire the shares when delivered, with a substantial percentage delivered (and retired) at the inception of the transaction, thus providing an immediate boost to the company’s earnings per share. Often the programs provide companies with the ability to repurchase shares at a discount to the trading price of the shares during the term of the program. ASRs also can be tailored to meet a particular company’s risk appetite by incorporating additional features, such as collars, caps and knock-out days, all of which can be used to limit the company’s exposure to future increases in stock price.

While purchases made pursuant to an ASR do not fall within the Rule 10b-18 safe harbor, in practice ASR agreements are structured to meet many of the rule’s requirements. ASR programs are also typically structured as 10b5-1 plans, which provide the benefits of those plans, but also limit the company’s flexibility in controlling the repurchases.

Additional Buyback Info/Speculation

We were advised by someone close to Henry to watch for broker transactions 1st quarter of new year. This was tipped to us back in November.

Henry then amended the buyback to include negotiated transactions EOY. Do you feel some of this volume is a result of the collection of shares for the buyback once current?

“Methods of repurchase: Open market purchase and/or negotiated transactions.”

https://www.otcmarkets.com/filing/html?id=14587044&guid=pQmaUHa\_RG-Fith

To clarify: Henry said he could not buy shares until current, ON THE OPEN MARKET.

That does not preclude him from legally buying back through negotiated deals with brokers or others, who he has made arrangements with.

He knew he couldn’t wait until after getting the company current to start buying back on the open market , as it would cost significantly more, so he clearly was smart enough to go about it in a much more cost effective way.

The regulations state that if shares are bought back on the open market and the person buying back the shares has important, non-public information (in this case what is in the financials and big deals made), they can loose safe harbor. However, it states that if done through negotiated contracts, safe harbor is not at risk.

More Info/Speculation on the Share buyback

June 29, 2020 8k concerning the company officially announcing that they would repurchase shares from the OS upto 13 billion

Then on December 31 2020 they announced that this would be extended to June 2021 and now upto 15 billion or more in a buy back.

I saw a lot of posting in the past few weeks that is saying the buy back WILL happen that he has to buy back shares, They mentioned they would do this since last year, the company has had all the time to already accomplish this action when the price of the shares was in the triple 0s. It makes no sense to begin to buy back the majority of the shares at this level, when he had about a year to quietly buy them up at 0001 0002. What they are most likely or will be doing is buying certain amounts from this level to complete the buy back and support the price, this would make sense,

They will be filing shortly and becoming current, we will then get to see the revenue that they are generating. It would make sense that the buy back was most likely almost completed and whatever amounts were already repurchased we will see this in the filings for June 2020 and onward.

They sold some subsidiaries and they generated revenue in this manner also. This is what they are using to repurchase the shares.

The Company intends to fund the proposed share repurchase program with the proceeds from the disposal of a portion of certain non-core assets and from anticipated revenues of the Company

Found this interesting for buyback info as we were tipped off in November to start watching the broker transactions. Looking at the dates. Henry looks to have negotiated something in September that started to roll out. This is why we left trips in January as De Minimis purchased the shares.

The next report won't be out until beginning of May. I thought they would update weekly but that is a different report. This companies have over 10 mil USD tied up in shares and now other brokers are involved also.
Henry did say there was between 10 to 12 mil put away for the buy back.

Next slide has the picture relating to this info
I (SD\_Hunter) never fully got on board with the whole Finra speculation → This came about primarily from Ihub. I do believe the info does play some type of role.

I also believe the average trades are connected.

I’ve been primarily focused on finding any clues with the buyback since early Feb, as I believe it is one of the most important short-term catalysts.

Unable to find much as with any buyback it’s almost impossible. So I went after a strong rev source and that was Vinafilms. After checking that off the list and it was not an easy task → it was enough for me to go long on Phil.

Regardless the buyback has always been stuck in the back of my mind. The speculation I have on it is in a way quite simple. Next two slides have a chart, the explanation and the links to 8ks. This is basically all connected to the changes made to 8ks. I don’t believe in coincidences. I see the changes happened for certain reasons.

Obviously u know by now the first major change from the first 8k to the second 8k was the negotiated shares. If you look at my chart you’ll start seeing basically all the 8ks to extend the buyback occurred during the Covid situation. I believe as the covid prolonged everything that more rev from Vinafilms or selling of other sub assets had occurred.

He changed it to 13 bil imo based off staying within the guidelines of the SEC Rule 10b-18 Safe Harbor Rule. I believe he had already acquired over 5.3 Bil shares through a broker and some private contracts. He had to extend the deadline due to the covid situation and was forced to increase the amount to 13 bil. 3rd 8k released kept the number the same, as most likely he had not acquired over 13 bil as of that time. Now with Covid delaying everything along with issues with previous Auditors, Henry was once again forced to extend the buyback again right before 2021 and as you can see it was increased to 15 bil. We have strong indication private negotiations have happened and I see the amount to be around 3.5 bil, which is really the missing variable. I see the 13 bil share mark was hit sometime between the 3rd and 4th 8k.

Now with the average trades that have occurred since then I strongly believe going off this data that the current buyback amount is in the range of 15 bil to 18 bil. Of course time will tell and we will soon see the total.

There is no way to figure this out to be 100% confident on it. It’s just not possible dealing with a subject like the buyback. This is my speculation on it and I feel quite confident with it.

https://www.otcmarkets.com/filing/html?id=13319849&guid=-N8UkHXXtZfilyh → First 8k 5.3 Bil

https://www.otcmarkets.com/filing/html?id=13984020&guid=-N8UkHXXtZfilyh → 2nd 8k 5.3 Bil changed to 13 Bil + added and/or negotiated transactions.

https://www.otcmarkets.com/filing/html?id=14247658&guid=-N8UkHXXtZfilyh → 8k Extended 13 Bil Deadline

https://www.sec.gov/Archives/edgar/data/704172/000149315220024430/form8-k.htm → 4th 8k changing 13 Bil to 15 Bil

## Conference Calls

**April 4, 2019**
https://www.nasdaq.com/press-release/phi-group-provides-summary-latest-conference-call-2019-04-21

**July 2019**
https://drive.google.com/file/d/1CJn2mT7xryfIinchESQuq1VONgjNo2iJ/view

**March 5, 2021**
http://www.twitch.tv/videos/938334154
1) Safe Harbor Statement

2) The plan was to file the 10k before today, but the auditor was late getting back in town. It’s not completely done but it’s at the EDGARizing agency (M2 Compliance). Sorry for the delay. When the 10k is filed, there will be a longer conference call (next week). Can't say much about it until it's out. Hopefully Monday or Sunday everything will be filed. Larger capacity CC next time.

3) He cannot OFFICIALLY say he has bought back **shares** yet because they're not in his books. But he's been working on that.

4) Very hopeful that the APR dividend timeline will remain intact. Some history on his past dividends and subsidiaries.

5) Spent a lot of time in Vietnam with some of his partners that wanted to get in on some of his major initiatives.

6) "Found a big treasure" that he can't talk about until after the filings.

7) Shout out to Cordova for being with the company for decades. XD

8) There is still a lot of work ahead, but the company has never had a big chance like this and we will understand what he means after the filing of the 10k. He's trying to fast track. Should be fully in compliance by the middle of April. He's been talking to someone at the SEC about being in compliance with his reporting.

9) The big O/S. He was able to negotiate with some of the noteholders not to convert but it took too long and some of them couldn't keep them for too long so they converted. He has looked at a number of ways to increase shareholder value, including the buyback, but he can discuss that after the filings.

10) Was making arrangements to obtain a source of funds for the buy back.

11) Estimate value of the dividend too early to tell. Trying to create value for his subsidiaries before they spin off.

12) Regarding patience wearing thin amongst shareholders, we are very close. He intends to list the company on the senior exchange. Didn't say when that would be. There was a plan. The plan was disrupted by events beyond his control, including COVID. Some projects that appeared dead are still underway.

13) Master fund was activated already. Will share more detail next CC.

**March 11, 2021**
https://www.twitch.tv/videos/945689174
1) Safe Harbor Statement

2) Delay was because we had to switch auditors, then COVID, and then he got stuck in India. But now we can move forward with the rest of getting Phil current which should happen mid-April.

3) No revenues were reported. We did receive about 1.3 million dollars during FY 2019 for participation in PhiLux but we didn't recognize it as revenue because the fund compartment was not fully activated.

4) Our expenses went up about $500k due to the Granite Mining Claims of APR.

5) Had about $72k on the books at the end of FY 2019 as opposed to $14k the previous year.

6) Q & A was done via e-mailed questions.

7) Didn't want to talk about which spin offs would be uplisted.

8) Didn't comment on what would create long term value for shareholders to retain their **shares** after the dividend, other than this has been the plan for a while, he still intends on creating spin offs and other dividend distribution, and it's up to you if you want to sell or not. Sometimes the plans work. Sometimes they don't.

9) Revenues for 2020 and 2021 will be announced as they are filed. He will not speculate or announce pre-release.

10) The dividend is still on track for June... but it could change. He wants to build value in APR first so the dividend is not meaningless.

11) He still plans to buy back shares and retire them. As many as possible. And he has made arrangements for the financial means to do so. He cannot say that Phi Group has bought back any because they are not on his books. He heavily implied that he has negotiated transactions that have already started buy back. He just can't talk about it.

12) Only one noteholder left!!! He talked to him today to try to find a way to work it out so it didn't turn into dilution. They'll talk again tomorrow to try to find a solution. The noteholder is being difficult.

13) GILDEX /Crypto kinda fell by the wayside for a bit due to lack of investors and other things going on. The plans are still there and he's working on them but he can't say too much other than it's still alive.

14) We still have a business agreement with Natural Well and Dr. Frank Liu. He showed a box for Super Green. It's a high energy drink drop. There are other products from him that we want to work with. These plans are still being worked on as part of PhiVitae Healthcare.

15) The Bank Fund are really what is going to set us apart. We are the first and only ones with a Bank Fund in the entire Asian region.

16) SO FAR up until now, he has confirmed that he does not want to do a reverse split. That's why he's buying shares. That being said... whatever he does do it needs to benefit the shareholders and the company. So if there is the opportunity to bring in a strong revenue generating company that would change the valuation of the company... he may have to take a reverse split in order to get us to Nasdaq. Short of that happening, he doesn't want to collapse the value for no reason. He's done that before, screwed up the timing, and it set us back. He's NOT saying that a R/S WILL happen. Just that he can't discount the possibility in the future.

17) The Vietnamese currency fluctuation did affect us but it is what it is. The Dong has been depreciating (story of my life).

18) The timeline for the senior exchange does depend on ADE, the launching of some sub-funds and some of our other acquisitions. Vinafilms were not completely disclosed in 2019. They still have to be finished. Once Vinafilms are done, there should be enough there to get uplisted.

19) There will be ANOTHER conference call next week so that he can talk more about the diamond exchange, the different facilities for polishing, etc., who would be involved with us, and funds. He wants to share pictures and other information via slides, etc. so we can better understand. It will be like the DMCC in Dubai (amenities and such to support ADE). Combined revenue in Dubai is 75 billion. In Asia, we are at an advantageous location to build it and make it happen as part of the new gross market.

As a reminder, please mute your mics if you're going to join in on his calls. It was ridiculous how much of this conference call was missed because people were watching on their iPhones and talking over him during key parts.

**March 15, 2021**
1) Safe Harbor Statement

2) Showed some forms/info that some of our sleuths had already posted here as DD. Good job ladies and gents.

3) LuxFund - Registered on 6/11/2020. Officially the first ever bank fund for investment in Vietnam. Fund size started with 1.3 billion in commitments and interest. Expected to grow to 5-10 billion within 5 years.

4) There will be a number of compartments - Real estate/hospitality projects, renewable energy, agriculture, healthcare and decentralized finance (crypto). Management fee is 1.5%.

5) The DMCC is about 200 hectares. There are 15,000 companies registered in the zone, 600 retail outlets and 60,000 employees. This is the model for what PHIL wants to do in Asia (Long Thanh Multi-Commodity Logistic Center).

6) Henry was in Vietnam looking at the 200 hectares of land earmarked for us when a new opportunity came up in South Vietnamese. They are building an airport with a hub similar in size to Singapore or Hong Kong. Instead of the 200 hectares that we were earmarked for, we applied for 600 hectares in this area (The Pearl?). This 600 hectares will include an international financial center, hi-tech industrial area and an urban area to cater to the needs of the Long Thanh Multi-Commodity Logistic Center.

7) Vietnam is an emerging market in Asia. They are aiming to be upper middle class by 2035. It's one of the fastest growing economies with an average of 7% annual GDP growth and a stable to positive credit rating. "Booming infrastructure, energy and construction."

8) China used to be the largest trade partner with Vietnam. Now it's the US. This is expected to continue for the foreseeable future.

9) Japan is the largest in terms of direct investors in Vietnam but this is expected to shift to the US following normalized relations between the two countries.

10) Vietnam is next to China in terms of infrastructure development and a spending percentage of their GDP. They are leading in global commodity growth, the consumer market, and are also expanding their tourism trade while being see as an all around cheaper alternative to China.

Don't forget about dr ben smith who is part of Henry's team and he wrote the lux laws and every business he assisted went billions worth!
11) Can't say too much about relationships with strategic partners due to a NDA in place.

12) Dubai is doing 37 billion a year in rough and polished diamonds and have an advantageous tax system. China has a couple of diamond exchanges but there is no "official" diamond exchange in China. Israel has a rough and polished diamond haul. This is not an overnight project. It will take a long time. Dubai started in 2003-2004 and is still continuing to develop. We are building the foundation but this project is going to develop over the years. We want major progress on our core projects first.

13) Q&A via e-mailed questions again. Most of the questions and concerns were about the R/S and further dilution and buy back.
The R/S - we don't want to do a reverse split. It's the last thing we want to do. We want to buy back as many **shares** as possible. The R/S can and MAY be done ONLY when and if there is a VERY special situation that can be a sure, almost guarantee to provide a chance for shareholders to benefit from it. For example if there is something that is going to bring us to Nasdaq or the NYSE, a R/S would split. But just going out and doing it but not doing anything to benefit the stock would be a disaster. We've already learned the hard way. Deep in his heart, he does not want to do an R/S. Please don't worry about it, it's not going to happen anytime soon unless there is something that really, really warrants it.

There has been more conversion from one particular noteholder. Henry talked to him Friday and today. He's going to have a more detailed conversation tomorrow. He's the only one left. Henry is working on it.

Henry, to date, has not OFFICIALLY booked in shares as being bought back yet. He wants to be able to share that info soon when it's official. He can't give out numbers until it's official.

Revenue was not listed in 2019 because although we did receive payments, they were not booked that way (booked as an obligation) because those payments were part of the participation of our partners in Vietnam that want to join our sub funds. When the time is due, we can reclassify those amounts as revenue.

The rest of the fins... we want to have them done by the middle of April so we can file as current.

The purpose of the next trip to Vietnam is to work with the ministry and government of the province on the launching of the ADE. It's an involved process. There are international bodies and trade participants as well as local laws and regulations. Without our partners, we wouldn't be able to do it ourselves. We are lucky to have that support. It's been going on for more than three years now.

Henry will explain more about the Gildex/crypto later on. There isn't much concrete about it yet and he wants to be able to share it with the bank. He's still working on it, hasn't given up on it yet. He also wants to focus on the LuxFunds and ADE for now.

Working on finishing the Vina audits so we can add the revenues to our books. It will take more time, but it will get done.

Might be another CC in the next week or two.

**April 14, 2021**
https://www.youtube.com/watch?v=wgrTROGd9OU&t=1704s

**April 20, 2021**
https://www.youtube.com/watch?v=JoDWKg4Iick

## News

https://www.bignewsnetwork.com/news/267777494/just-in-xi-says-china-ready-to-work-with-vietnam-to-promote-ties <-- China ready to work with Vietnam to promote ties

https://www.cnbc.com/2021/01/28/vietnam-is-asias-top-performing-economy-in-2020-amid-covid-pandemic.html <-- This is Asia’s top-performing economy in the Covid pandemic — it’s not China

https://fintechzoom.com/fintech\_news\_stock-market/penny-stocks-penny-stocks-major-move-on-ma-player-phil-phi-group-as-company-updates-filings-and-looks-to-a-national-exchange-fintech-zoom/

https://www.globenewswire.com/news-release/2020/05/12/2032264/0/en/PHI-Group-Enters-Strategic-Agreement-with-Natural-Well-Technical-Ltd.html <--- PHI Group Enters Strategic Agreement with Natural Well Technical Ltd

https://dichvuthongtin.dkkd.gov.vn/inf/Forms/Searches/EnterpriseInfo.aspx?h=2dc74 ← Next two Links you will have to use Google Translate to Engish --> https://dichvuthongtin.dkkd.gov.vn/inf/Forms/Searches/EnterpriseInfo.aspx?h=2ddc3

https://wyobiz.wyo.gov/Business/FilingDetails.aspx?eFNum=043148196135061072167211254206024082008208238168 ← EWater International, inc. Current on WY site, initial filing 7/13/2020

https://wyobiz.wyo.gov/Business/FilingDetails.aspx?eFNum=139065040253158224160220042253138036027203225226 ←- American Pacific Plastics current on WY Sec of State website - NGHIEU THI DO (Director) (Also listed in PR as chairperson and majority shareholder of Vinafilms)

https://wyobiz.wyo.gov/Business/FilingDetails.aspx?eFNum=069153027100105024011212167129108222090175217122 ←- Phi Group current on WY Sec of State website

https://www.reuters.com/article/us-vietnam-politics-congress-idUSKBN29Q0ES ←- Wanted: Communist Party leadership to keep Vietnam in sweet spot amid U.S.-China tensions

https://www.nytimes.com/2021/02/01/world/asia/vietnam-party-congress.html ←- Term Limits? Not for Vietnam’s Hard-Line Communist Leader

https://en.vietnamplus.vn/digital-economy-predicted-to-reach-43-billion-usd-by-2025/196083.vnp ←Digital economy predicted to reach 43 billion USD by 2025

https://www.reddit.com/r/philstock?utm\_medium=android\_app&utm\_source=shar ←-link to the new Reddit $PHIL lounge

https://e.vnexpress.net/news/business/economy/vietnam-gdp-growth-to-be-among-world-s-highest-in-2020-imf-4194065.html ←-Vietnam GDP growth to be among world’s highest in 2020: IMF

https://vietnamnews.vn/economy/887806/viet-nam-west-virginia-bolster-bilateral-co-operation.html ←Interesting article that West Virgina sees the potential in Vietnam. ---- Việt Nam, West Virginia bolster bilateral cooperation

https://tradingeconomics.com/vietnam/gdp-growth-annual ←-Vietnam GDP Growth

https://money.usnews.com/investing/news/articles/2021-01-31/vietnam-targets-growth-acceleration-shift-to-hi-tech-gear-in-communist-party-economic-blueprint ←- "Despite the pandemic, in January, a unit of Taiwan's Foxconn Technology Co Ltd, a key Apple Inc supplied, obtained a licence to invest $270 million in the country as it is moving some iPad and MacBook computer assembly from China. Meanwhile U.S. chipmaker Intel said it raised its investment in Vietnam by $475 million to $1.5 billion. The country will "focus on measures to basically complete the elements of a socialist-oriented market economy, better handling the relationship between the state and the market and society," according to the Party's economic blueprint. Analysts say that's code for Vietnam continuing its drive to privatise state-owned enterprises, except for those operating in areas deemed essential for national security and defence."

http://www.vietnamadvisors.com/us-based-private-equity-firm-to-establish-real-estate-investment-fund-in-vietnam/ ←-US-based Private Equity firm to establish real estate investment fund in Vietnam

https://vietnaminsider.vn/us-buyout-firm-phi-group-to-set-up-vietnam-real-estate-investment-fund/ ←- Henry also signed an agreement with Hanoi MHD Invest Joint Stock Company back in 2018 -- There revenue is over $15 million

https://vietnamcredit.com.vn/products/companies/hanoi-mhd-invest-joint-stock-company\_504754

This company is investing with Henry in the real estate market and they helped set up the Luxembourg Fund. They will also work with Henry to setup the ADE.

https://e.vnexpress.net/news/news/hcmc-aims-to-become-world-financial-hub-chairman-4152128.html Old article -- bit interesting