Current Report Filing (8-k)
May 23 2022 - 4:01PM
Edgar (US Regulatory)
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2022-05-20
2022-05-20
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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported): May 20, 2022
PHI
GROUP, INC.
(Exact
name of registrant as specified in its charter)
Wyoming |
|
001-38255-NY |
|
90-0114535 |
(State
or other jurisdiction |
|
(Commission |
|
(IRS
Employer |
of
incorporation) |
|
File
Number) |
|
Identification
No.) |
2323
Main Street, Irvine, CA |
|
92614 |
(Address
of principal executive offices) |
|
(Zip
Code) |
Registrant’s
telephone number, including area code: 714-793-9227
N/A
(Former
name or former address, if changed since last report)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions (see General Instruction A.2. below):
☐ |
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|
|
☐ |
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
|
|
☐ |
Precommencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
|
|
☐ |
Precommencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)). |
Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class |
|
Trading
Symbol(s) |
|
Name
of each exchange on which registered |
Common
Stock |
|
PHIL |
|
OTC
Markets |
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company ☐
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provide pursuant to Section 13(a) of the Exchange Act. ☐.
Item
1.02 Termination of Material Definitive Agreements.
|
1. |
Termination
of Loan Program with Geza Holdings AG |
In
a letter to Geza Holdings AG dated May 20, 2022, the registrant unilaterally terminated the $1.5 billion loan program with Geza Holdings
AG in connection with the Loan Approval Letter dated October 12, 2021 by Geza Holdings AG and the signed Term Sheet dated December 15,
2021 by Geza Holdings AG and PHI Group, Inc.
The
termination of this transaction was necessitated by the prolonged and unsatisfactory due diligence process, especially due to the fact
that we were unable to validate a number of required items in connection with the offered loan program to allow us to pursue it further.
|
2. |
Termination
of Loan Program with Neok Financial Incorporated |
In
a letter to Neok Financial Incorporated dated May 20, 2022, the registrant unilaterally terminated the $2.0 billion loan program with
Neok Financial Incorporated in connection with the Loan Agreement Deed dated and signed November 14, 2021 by Neok Financial Incorporated
and PHI Group, Inc.
The
termination of this transaction was necessitated by the prolonged and unsatisfactory due diligence process, especially due to the fact
that we were unable to validate a number of required items in connection with the offered loan program to allow us to pursue it further.
104 |
Cover
Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURE
Pursuant
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.
Dated:
May 23 2022
PHI
GROUP, INC. |
|
(Registrant) |
|
|
|
By: |
/s/
Henry D. Fahman |
|
|
Henry
D. Fahman |
|
|
Chairman
and CEO |
|
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