The phrase "hast company," meaning "have company," is spelled with the "hast" contraction for "have" which is pronounced /hæv/ in IPA phonetic transcription. This contraction utilizes the archaic form of the second-person singular present tense verb "have" and is commonly found in literature from the 16th and 17th centuries. The spelling of the word "company" remains unchanged and is pronounced /ˈkʌmpəni/ in IPA. The phrase "hast company" is a literary relic that provides a glimpse into the evolution of the English language over time.