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PHI Group issues common stock to certain holders of convertible promissory notes

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PHI Group issues common stock to certain holders of convertible promissory notes

PHI Group Inc. issued nearly 7 million shares of free-trading common stock to certain holders of convertible promissory notes.

EMA Financial LLC received 2 million shares on Dec. 12 for the conversion of $7,140.00 of the principal balance of the note, less $1,050.00 of applicable fees under the note. The principal balance due remaining under this note after this conversion was $33,952.50.

JSJ Investments Inc. received 2.25 million shares on Dec. 13 for the conversion of $12,420.75 of the principal balance of the note. The principal balance due remaining under this note after this conversion was $27,579.25.

Auctus Fund LLC received 2.74 million shares on Dec. 14 for the conversion of $10,339.52 of the principal balance of the note together with $137.68 of accrued and unpaid interest thereto and $500.00 applicable fee, totaling $10,977.20. The principal balance due remaining under this note after this conversion was $6,745.50.

Further, PHI Group issued 1,724,138 shares of its restricted common stock to Steve Truong for $20,000.00 in cash pursuant to a private stock purchase agreement dated Dec. 14, between the shareholder and the company.

As of Dec. 18, there were 59,466,077 shares of the PHI's common stock issued and outstanding, excluding 5,673,327 common shares that have been set aside for a special dividend distribution.