(Phoenix, AZ – August 29, 2016) – Phi Group, Inc. (OTCPK: PHIL), founded in Nevada in 1982, is a company that centers around renewable and conventional energy under the direction of CEO Henry Fahman. In recent months, PHIL hasn’t had the most consistent of track records on the market, at times spiking up to nearly $2.00 and at other times dropping down to $0.32, but in a recent interview with CEO Everett Jolly on the Stock Day Radio Show, Mr. Fahman said, “We changed the business dramatically with a new product line [and] new business opportunities.”
PHIL recently partnered with Milost Advisers, Inc., a global investment banking firm, to counsel the company on strategic alternatives, and also recently agreed to form a Special Purpose Entity (SPE) with Milost Global, Inc. to carry out buyouts of revenue-generating companies. Both of these partnerships are pivotal because the company is hoping to seal the deal on three major acquisitions that could qualify PHIL to uplist to a senior exchange.
In June 2016, a Letter of Intent was signed to acquire 100% of a wood pellet manufacturing company that brought in $19.2 million in revenue for FY2014 and $12.4 million in revenue for FY 2015. The 36,000 sq.ft. plant and storage facility sits on 18 acres of land in the Southeastern part of the United States and produces 100,000 MT/year.
In July 2016, Phi Group signed a Purchase and Sale Agreement for 50.90% equity ownership of a Liquid Petroleum Gas (LPG) distribution and service company in Southeast Asia. The target company could potentially bring in more consolidated revenues and bottom lines for PHIL, however, further details of the target company and the acquisition are kept under wraps until the deal closes in December 2016, or no later than March 31, 2017.
In South Africa, an acquisition for a company that has average revenues of approximately $70 million for FY 2014 and FY 2015 is going very well for PHIL. The company they are acquiring is a leading company in the natural resource and construction material space. Milost Advisors is conducting due diligence and the acquisition is expected to close in September 2016.
On the Stock Day Radio Show, Henry Fahman said, “We’re very careful. We don’t go out and issue shares and buy out opportunities just to do it. We make sure it’s lucrative to the bottom line and to net earnings for our company.” What’s most impressive in this movement is that these acquisitions are cash transactions, which is a great achievement by PHIL and Milost Advisors, as shareholders do not have to worry about their stock diluting.
To strengthen the company by acquiring already successful companies without hurting their shareholders and stakeholders is a smart and responsible move by PHIL and one that will certainly turn the leaf for the company. The closing of any one of these acquisitions will not only open the door for many more opportunities for Phi Group Inc., but it will also qualify the company to uplist to a senior exchange.