Here is a link about the delisting process > https

Here is a link about the delisting process > https://www.investopedia.com/ask/answers/what...-or-otcbb/

The Pink Sheets are different from the OTCBB. Companies on the Pink Sheets are not required to meet minimum requirements or file with the SEC. So named because they were actually printed on pink paper, the Pink Sheets started out as a daily quote service provided by the National Quotation Bureau (NQS), which in 2010 changed its name to OTC Markets Group.

Typically, companies are on the Pink Sheets because they are either too small to be listed on a national exchange or they do not wish to make their budgets and accounting statements public.
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So PHIL being a otc PINK won't be delisted simply for being late in its
10K or 10Q filings as its not required on the otc Pink Sheets.

What could cause PHIL to be delisted from the otc Pink Sheets
to the GREY sheets or get a SEC suspension and stop trading altogether is if some major FRAUD or corruption about the
company comes to light.

Most cases of Pink OTC SEC suspension r a result of some group
either in cahoots with the company or not running the
stock price way UP on some kind of fraudulent info being
made public about the company that makes them appear
way more valuable than they really are.

That's clearly not happening here with PHIL @ .0001