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PHI Group issues common shares to holders of convertible promissory notes

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PHI Group issues common shares to holders of convertible promissory notes

PHI Group Inc. has issued free-trading common shares to certain holders of convertible promissory notes.

On May 29, Crown Bridge Partners LLC received 3,159,521 shares for the conversion of $35,000 principal amount of the convertible promissory note dated Oct. 26, 2017, $992.47 of accrued interest and $500 of fees under the note, totaling $36,492.47. The principal balance due remaining under the note after the conversion was zero dollar.

Einstein Investments LLC received 3,149,607 shares June 4 for the conversion of $44,050.96 principal amount of the $115,000 convertible promissory note of Nov. 24, 2017, together with $5,949.04 of accrued and unpaid interest, totaling $50,000. The principal balance due remaining under the note after the conversion was $71,449.04.

As of June 4, there were 129,687,425 PHI common shares issued and outstanding, excluding 5,673,327 common shares that have been set aside for a special dividend distribution.