NEW YORK, April 11, 2017 (GLOBE NEWSWIRE) -- PHI Group, Inc. (“the Company”), a U.S. public company focused on acquisitions and investments in natural resources, energy and special situations (www.phiglobal.com) (OTCQB:PHIL), announced today that it has formed “Smartway International, Inc.,” a Wyoming corporation, as a holding company for Smartway GmbH, a German company with advanced algorithms that provide competitive all-inclusive software and dynamic vehicle control system for urban areas.
Smartway GmbH’s business model is based on intelligent bundling of existing resources, all digital and automated bundling of bookings, and scalable door-to-door multi-services worldwide. Smartway intends to initially launch commuter services in Bonn, Germany and Los Angeles this year. The Company will file a Registration Statement under Reg A+ for funding to fully implement its business plan. Smartway business segments include ad-hoc and same-day deliveries, mini car/dial-a-ride services and taxi sharing.
Dr. Thai Pham, Founder and Chairman of Smartway GmbH, stated, “We look forward to working with PHI Group to launch our commuter service systems in Bonn and Los Angeles as soon as practical in order to prove our technology and business model, which we believe are superior to existing service providers in a number of ways.” Dr. Pham added, “We can then replicate our model on a large scale to provide services to many cities in Europe, the U.S. and other continents very quickly.”
Henry Fahman, Chairman and CEO of PHI Group, Inc., said, “We are delighted to partner with Dr. Pham and Smartway GmbH to provide better solutions to the growing needs of traffic and transportation management worldwide. This is part of our continual search of innovative and breakthrough technologies that can make a big difference in people’s lives and create significant long-term economic value for our shareholders and all stakeholders.”
About PHI Group
PHI Group primarily focuses on acquisitions as a principal and invests in select industries and special situations that may substantially enhance shareholder value. The Company also provides merger and acquisition advisory services through its wholly owned subsidiary, PHI Capital Holdings, Inc. (www.phicapitalholdings.com)
About Smartway GmbH
Smartway GmbH is a German company that has successfully developed advanced algorithms for real-time dynamic bundling of individual customer’s door-to-door transfer needs and real-time dynamic controlling of existing individual transfer capacity of drivers. The Company will initially focus on commuter services for urban areas before launching delivery and ride-sharing services.
Safe Harbor
This news release contains forward-looking statements that are subject to certain risks and uncertainties that may cause actual results to differ materially from those projected on the basis of such forward-looking statements pursuant to the “safe-harbor” provisions of the Private Securities Litigation Reform Act of 1995.