| Small & micro cap project / Activism insight
The objective of the article is to report (no judgement/opinion/recommendation) on the news service – Debtwire. To be clear – we have no business arrangement of any kind with Debtwire.
On February 19, 2019, Timothy Staboz sent a public letter to the management of PHI urging them to address and refute a story published by Debtwire on February 11, 2019. The Debtwire article flagged the “potential bankruptcy” of the company. Within a month, PHI filed for bankruptcy.
As per the Debtwire’s website, the reporters talk to a lot of contacts every day to bring valuable early insight about fast-evolving situations. Very interesting.
“I was able to obtain a copy of, lurid and phantasmagoric as it is, uses anonymous sourcing (i.e, “sources familiar with the matter”), unattributed innuendo, and even direct statements alleged to have been made by supposed PHI executives, to suggest that you met “face-to-face” with bondholders, and “acknowledged at the meeting that the existing equity would likely be wiped out.”
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