Philux Global Group Inc

We continue to believe PHI Group is worth two to three times the most recent trading price. That would value it in line with publicly listed peers. PHI Group is a leading provider of helicopter flight services for the global oil and gas exploration and production industry and the air medical industry. During the quarter PHI announced a below market tender for up to $50 million of stock at $25 per share, that they pulled only, to replace with a smaller, yet still below market tender for up to $35 million of stock at between $25 and $30 per share. In our opinion, management and the Board need to rebuild their reputation after botching everything related to the tender.

We continue to believe PHI Group is worth two to three times the most recent trading price. That would value it in line with publicly listed peers. PHI Group is a leading provider of helicopter flight services for the global oil and gas exploration and production industry and the air medical industry. During the quarter PHI announced a below market tender for up to $50 million of stock at $25 per share, that they pulled only, to replace with a smaller, yet still below market tender for up to $35 million of stock at between $25 and $30 per share.

We continue to believe PHI Group (expert: PHIG) is worth two to three times the most recent trading price. That would value it in line with publicly listed peers. PHI Group is a leading provider of helicopter flight services for the global oil and gas exploration and production industry and the air medical industry. The Company emerged from bankruptcy protection in September 2019. The bankruptcy was primarily due to excessive debt rather than poor financial performance. PHI has subsequently focused on improving its margins and prioritizing a conservative balance sheet.

During the quarter we continued to increase our position in PHI Group (expert: PHIG). We think it is worth two to three times the most recent trading price. PHI Group is a leading provider of helicopter flight services for the global oil and gas exploration and production industry and the air medical industry. The Company emerged from bankruptcy protection in September 2019. The bankruptcy was primarily due to excessive debt rather than poor financial performance. PHI has subsequently focused on improving its margins and prioritizing a conservative balance sheet.

We significantly increased our position in PHI Group (expert: PHIG) during the quarter. As of today, it is nearly an 8% position. We think it is worth two to three times the most recent trading price. PHI Group is a leading provider of helicopter flight services for the global oil and gas exploration and production industry and the air medical industry. The Company emerged from bankruptcy protection in September 2019. The bankruptcy was primarily due to excessive debt rather than poor financial performance. PHI has subsequently focused on improving its margins and prioritizing a conservative balance sheet.

Subsequent to quarter end we significantly increased our position in PHI Group (expert: PHIG). As of today, it is nearly a 7% position. We think it is worth two to three times the most recent trading price. PHI Group is a leading provider of helicopter flight services for the global oil and gas exploration and production industry and the air medical industry. The Company emerged from bankruptcy protection in September 2019. The bankruptcy was primarily due to excessive debt rather than poor financial performance. PHI has subsequently focused on improving its margins and prioritizing a conservative balance sheet.

Subsequent to quarter end we significantly increased our position in PHI Group (expert: PHIG). As of today, it is nearly a 7% position. We think it is worth two to three times the most recent trading price. PHI Group is a leading provider of helicopter flight services for the global oil and gas exploration and production industry and the air medical industry. The Company emerged from bankruptcy protection in September 2019. The bankruptcy was primarily due to excessive debt rather than poor financial performance. PHI has subsequently focused on improving its margins and prioritizing a conservative balance sheet.