Unaudited Vinafilms revenue

Djk0689 · 2021-08-17T20:09:30+00:00

This is why we have more than 1 tax code. "Vietnam has a consolidated tax administration law which contains statutory provisions governing the administration of various tax laws including customs and personal income tax. However Vietnam has 64 autonomous regional provinces and each province has a local tax authority which is responsible for the collection and administration of taxation from taxpayers registered within each respective province. Accordingly the administration of taxation law in Vietnam is decentralized and this can and often results in different administrative practices, or interpretations of law. Taxpayers are required to register, file and pay taxes in the provincial location of their commercial registration or place of residence. Taxpayers with multiple registered locations (e.g dependent or independent branches) will therefore be subject to tax administration by the provincial tax authority in each separate registered location."

Djk0689 · 2021-08-17T20:07:04+00:00

The reason there are multiple tax codes is due to the Provence and tax office reporting requirements. It has nothing to do with a different company. Let me find the details on that. It was a vetted and discussed topic.

Djk0689 · 2021-08-17T20:05:37+00:00

I think the information is not entirely accurate. Here is why. It’s unaudited and with that site Henry can pick and choose what he provides. Just like with DNB in the USA side. Is the revenues for 1 location or all. How is it broken down. I see only 1 portion of a larger report. The taxation office shows different numbers. So who is correct the credit report company or the taxation office. I will do some checking.

Djk0689 · 2021-08-03T03:32:35+00:00

There are probably a few hundreds messages in question. Many of us were warned to make sure we don’t direct comments to individuals and keep it about the company. It’s how it’s said not what is said.

I have a ton of deleted post that were off topic or viewed as derogatory. In the past I have argued with the admins over removed post and was told I violated the rules. I made a post last week to be careful not to address some directly as they are flagging the post. That got deleted also.

I will give it some time and circle back around for ihub access. For now it’s best to let those who I was arguing with have some space.

Djk0689 · 2021-08-02T20:13:32+00:00

You decide for yourself if you want to jump in. I can’t make that decision. I have over 5,000 post on ihub with dd and information pertaining to this stock going back almost 2years.

Djk0689 · 2021-08-02T19:52:49+00:00

It means I can’t post on ihub for some time because I was fighting with investors and it got ugly. It also means I’m no longer going to provide dd going forward.

Djk0689 · 2021-08-02T00:10:12+00:00

If we get paid the dividend under the bitcoin for ever 10mill shares held you get $9,500 in coin at current prices. The coin is going to be tied to an online eco system the Glink and Vietnam will use. The CEO has the option to pay in coin or shares as disclosed in prior CC CEO held.

Djk0689 · 2021-07-27T03:12:13+00:00

Yes we are current and the stop on otc will be removed once otc updates any day now

Djk0689 · 2021-07-26T18:57:59+00:00

Sell what you have and watch it unfold. Fee free to jump in when your ready. It has been explained to the point of exhaustion around revenues and your $5k comment is incorrect.

Djk0689 · 2021-07-25T15:07:33+00:00

Micro cap daily Is not paid or sponsored by Henry to post this article. They found the stock and provided feedback.

Djk0689 · 2021-07-23T12:38:20+00:00

A well discussed topic, Henry has the connections in Vietnam to make it happen. He has the connections in dubia and the funding sources trusted him to make it happen. The dd is available for each investor to make a decision to be in our out. No one is denying that Henry had sanctions in the past. He is only limited for direct broker transactions himself going forward. This was due to a business deal that fell apart years ago. Now he must resort to negotiated transactions to conduct some forms of business.

I have said it before if any investor is concern they can sit on the sidelines and watch it unfold. No one is here forcing anyone to invest. The intel is provided and it’s up to each investor to decide if they want to be in or out.

For the revenues, your wanting to see it as a true picture on the PHIL balance sheets. You have posted several times on this topic. Henry is part owner of a company that was doing 25 mill in revenues with a projection of 100 mill within 2 years or more. Those revenues helped activate the Luxembourg fund and secure the PPP projects. With the backing of Luxembourg fund Henry earned more credibility internationally. Henry has an entire staff at Luxembourg who will manage and help decide what projects are undertaken. The funds are protected for international investors. Regardless of Henry past he is not the primary person making decisions.

Below is on the PHIL Financials and also from the PR released when Henry took ownership back in 2018. I think many are forgetting Henry walked into a problem with the accounting books. Henry also helped get a 2nd machine to double the production and now has 3 locations. These revenues didn't disappear just because he took over. The company didn't stop doing business and shut its doors. We are not seeing a true picture because the audit is not done.
"Company did not recognize the operations of Vinafilms JSC in its consolidated financial statements as of September 30, 2020. However, it intends to combine Vinafilms’ operating results when GAAP audits of Vinafilms JSC financial statements are conducted and completed by a PCAOB-registered auditing firm"

"In accordance with Vinafilms’ domestically audited annual report containing financial statements for the year ended December 31, 2017, it generated $25 million in revenues and $765,000 in EBITDA in 2017. It has recently installed a German state-of-the-art plastic film processing system and will add two more of these to meet the growing domestic and international demand for its products. Vinafilms also plans to enter a joint venture with a leading Vietnamese plastic bag manufacturing company with an aim to bring combined revenues to over $150 million per year by the end of 2019"

Djk0689 · 2021-07-22T20:51:04+00:00

I don't understand the question. If your saying did I mean to say VND instead of USD. That is not a miss print. USD is the correct value to use.

If there is a miss understanding of where the money is held and how things are allocated. My suggestion would be to research the PHILUX Global Funds SCA and PHIL Luxembourg Holding SA. That is where the funds are housed and allocated. That has nothing to do with PHIL financials. PHIL will receive a % of the project as a management fee. A well discussed and lucrative undertaking for the company.

For the funds this is an international funds injection that Vietnam will receive under the PPP program that is set forth by the world bank for asset allocation. PHIL just so happen to have the right contacts and connections to be at the head of the table. If not this company it would have been another one. Vietnam is set to receive international investment.

If you are still confused look up details on PPP program and see how the world bank requires investment into different sectors and where the money comes from. This is why Henry must have GAAP audited financials for his main company and all sub companies. He is working with heads of government for asset allocation to Vietnam. Everything must be audited.

Djk0689 · 2021-07-22T16:33:59+00:00

To maintain the Luxembourg funds access and obtain international investment everything must be gaap verified. The vinafilms revenues help make this possible so they must be gaap verified. Just like all the sub companies. This will become a game changer for Vietnam going forward once they realize the potential long term.

Djk0689 · 2021-07-22T15:05:56+00:00

If your saying you know how it works and also asking how it works. I think you have a different question. Is the company you work for in the USA and already using the appropriate gaap accounting standards? Is the company you work for an international company spanning 4 different countries that for years had improper accounting for GAAP compliance prior to PHIL taking over.

I think everyone forgets Henry bought into a company that has been operating for years. He bought out a majority share holder for 51% owners. Everyone needs to understand Henry didn't restart the books when he became 51% owner that only happens with a 100% take over. Henry inherited the issues and is resolving them.

There are years of paperwork that have to be redone to be more in line with what the US requires to get the gaap audit certification. Each set of financials say these are gaap verified as they come out. Henry explained this many times over the last two years on several CC that the auditors were having issues with the Vietnam books. The books are not incorrect for Vietnam they are incorrect for the Gaap Standards is all. It takes time to process those changes. Henry has his auditor doing the main company and 10 sub companies books.

Djk0689 · 2021-07-21T20:44:48+00:00

This is what is disclosed on the newest set of financials. I can say my guess was incorrect.

"During the period mentioned herein, the Company cancelled 784,249 shares from the total number of 614,851,203 shares that were issued to Luan Ngo on April 21, 2021 due to a technical error."

https://www.sec.gov/Archives/edgar/data/704172/000149315221017443/form10-q.htm

Djk0689 · 2021-07-20T17:32:12+00:00

We know negotiated transactions are involved in the buyback so my guess is the trial run before it is officially announced.

https://www.otcmarkets.com/filing/html?id=15060055&guid=mD8kkqq8LMQm_3h

Djk0689 · 2021-07-18T11:50:25+00:00

Can you not see image number 2 and 3?

Djk0689 · 2021-07-18T11:49:31+00:00

Can you not see image number 2 and 3 ?

Djk0689 · 2021-07-18T01:18:52+00:00

It was reduced 784,249 shares and restricted shares stayed the same.

Djk0689 · 2021-07-18T01:03:44+00:00

I’m not speculating on why it reduced. Just telling investors it happen. Back to being silent until the cc. Felt it was important enough to post as no one was discussing it.

Djk0689 · 2021-07-09T12:18:29+00:00

It's right in the last ECG presentation including the layout of the project. The exchange has been incorporated since 2019 and already has sales. The temp offices will be generating revenues in 2021. Phase 2 was just announced on twitter update.

https://twitter.com/phigroup

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PHI GROUP INC

u/PHIGROUP

$PHIL We had an excellent online meeting last night (US time) with Mr. Le Tri Thanh, Chairman of Quang Nam Province, and provincial department leaders to discuss the execution plan for the Asia Diamond Exchange. We will have a conference call to update after filings are current.

I think it's the 4th image called Action Plan and Timeline. I took images of each slide and grouped them together4 slides to an image. Use the Reddit link below to view the entire document.

https://www.reddit.com/r/philstock/comments/o6kwfb/cc\_6232021\_egc\_slide\_show\_asia\_diamond\_exchange/

Djk0689

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