PHI Group, Inc. (OTCMKTS: PHIL) is trending northbound in recent trading since hitting new 52-week lows of $0.0008. The stock has a massive international following that is waiting for PHIL to start running again after many, many months of decline since the stock was $0.02 per share this time last year. In May PHIL filed an 8k terminating the $1.5 billion loan program with Geza Holdings AG and the $2.0 billion loan program with Neok Financial Incorporated and this has slowed down the Company’s acquisition progress as they are waiting on funds to close both the KOTA Energy Group LLC and KOTA Construction LLC deals for $64 million and the $100 million acquisition of Five Grain Treasure Spirits Co., On the positive side PHIL has launched the C02 token on DigiFinex with a weekly volume of more than US$ 25 million although the token has dropped to $0.125 currently. Also, recently the Company’s subsidiary, Empire Spirits, Inc., launched the first U.S. distilled USDA organic baijiu, a joint venture with Five-Grain Treasure Spirits Co., Ltd., to produce ultra-premium organic baijiu spirits to be distilled in the United States. Baijiu, a white spirit distilled from sorghum, similar to vodka but with a fragrant aroma and taste, is the world’s most consumed spirit that boasts sales of over USD $83 billion.
PHIL investors are looking for a massive reversal northbound and a return to previous highs of $0.02. The stock has suffered in recent months from significant dilation which has decimated the share price yet still PHIL investors are accumulating many of the new shares coming into the market. Investors are waiting for an update from the Company. On Friday, PHIL CEO Henry D. Fahman said on twitter: “We were planning to have a news release this week but the principals of our partner company got Covid and couldn’t get things done as planned. On another note, we have made very good progress with two financing programs and will update soon. Best regards and…
