Shareholder Conference Call Scheduled for Tuesday February 25, 2014
LOS ANGELES, CA and HANOI, Vietnam / February 19, 2014 / ACCESSWIRE / PHI Group, Inc. (http://www.phigroupinc.com/) (OTCQB:PHIL) (PINKSHEETS:PHIL), a company focused on energy and natural resources, announced today that the Company has filed its 10-Q report for the quarter ended March 31, 2012 and is in the process of completing all the remaining outstanding 10-K’s and 10-Q’s to regain its fully reporting status with the Securities and Exchange Commission.
The Company recorded a net loss of $134,218 during the three months ended March 31, 2012 compared to a loss of $284,281 for the same period in 2011. The net losses per share for the corresponding quarters were $0.84 and $2.10, respectively, based on the weighted average number of basic and fully-diluted shares for each period after taking into account a 1 for 1,500 reverse split of the Company’s common stock effective March 15, 2012.
PHI Group is primarily focused on energy, both conventional and renewable, and natural resources and has embarked on a ongoing program to acquire energy-related and mineral assets in Asia Pacific, especially Indonesia and Vietnam.
The Company is currently working on three coal concession transactions in West Sulawesi, East Kalimantan and Sumatra as well as two gold projects in Central Java and North Sumatra, Indonesia. In addition, the Company has signed an agreement to cooperate with VinaBenny, a Vietnamese company, (http://www.vinabenny.com/) to build an 84,000 MT LPG terminal in Long An Province, Vietnam. In addition, it has participated in a program to underwrite the collection of a series of government-guaranteed corporate bonds in Brazil, which should benefit the Company substantially if successful.
The Company’s wholly owned advisory and financing arm, PHI Capital Holdings, continues to assist international companies that seek to access the capital markets in America and Europe. Particularly, PHI Capital has recently been retained to restructure some companies that have business operations in Vietnam.
PHI Group will host a conference call for shareholders and investors at 10:00 A.M. EST Tuesday, February 25, 2014 to discuss recent corporate developments and forward guidance. To participate in the conference call, dial +1-209-647-1000 and enter conference call ID 767368#.
Safe Harbor: This news release contains forward-looking statements that are subject to certain risks and uncertainties that may cause actual results to differ materially from those projected on the basis of such forward-looking statements. Such forward-looking statements are made based upon management's beliefs, as well as assumptions made by, and information currently available to, management pursuant to the "safe-harbor" provisions of the Private Securities Litigation Reform Act of 1995.
About PHI Group
Adopting a double-tracked energy strategy, PHI Group invests energy-related assets and other natural resources, cooperates with international partners to develop independent power plant projects, and provides renewable energy technologies in conjunction with select industry partners. In addition, the company is engaged in trading activity involving coal, oil, precious metals and other industrial commodities.
Source: PHI Group, Inc.