2023 Q1 Form 10-Q Financial Statement
#000149315223003538 Filed on February 03, 2023
Income Statement
Concept | 2023 Q1 | 2022 Q3 | 2022 Q2 |
---|---|---|---|
Revenue | $25.00K | ||
YoY Change | 25.0% | ||
Cost Of Revenue | |||
YoY Change | |||
Gross Profit | |||
YoY Change | |||
Gross Profit Margin | |||
Selling, General & Admin | |||
YoY Change | |||
% of Gross Profit | |||
Research & Development | |||
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | |||
YoY Change | |||
% of Gross Profit | |||
Operating Expenses | $307.1K | $286.8K | |
YoY Change | 4.25% | -94.52% | |
Operating Profit | -$307.1K | -$261.8K | |
YoY Change | 6.05% | -94.97% | |
Interest Expense | $377.0K | $303.1K | |
YoY Change | -523.61% | -683.62% | |
% of Operating Profit | |||
Other Income/Expense, Net | -$1.472M | -$1.559M | |
YoY Change | -12.08% | 123.06% | |
Pretax Income | |||
YoY Change | |||
Income Tax | |||
% Of Pretax Income | |||
Net Earnings | -$1.779M | -$1.821M | |
YoY Change | -13.33% | -69.45% | |
Net Earnings / Revenue | -7284.05% | ||
Basic Earnings Per Share | $0.00 | $0.00 | |
Diluted Earnings Per Share | $0.00 | $0.00 | |
COMMON SHARES | |||
Basic Shares Outstanding | 33.65B shares | 30.35B shares | |
Diluted Shares Outstanding | 34.02B shares | 30.35B shares |
Balance Sheet
Concept | 2023 Q1 | 2022 Q3 | 2022 Q2 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | |||
YoY Change | |||
Cash & Equivalents | $39.42K | $13.93K | $67.90K |
Short-Term Investments | |||
Other Short-Term Assets | $242.4K | $541.8K | $365.4K |
YoY Change | 4.0% | ||
Inventory | |||
Prepaid Expenses | |||
Receivables | |||
Other Receivables | |||
Total Short-Term Assets | $282.3K | $556.3K | $433.8K |
YoY Change | -93.5% | -80.89% | -9.77% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | |||
YoY Change | |||
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | |||
YoY Change | |||
Total Long-Term Assets | $37.60K | $34.25K | $36.16K |
YoY Change | -96.03% | -94.76% | -91.91% |
TOTAL ASSETS | |||
Total Short-Term Assets | $282.3K | $556.3K | $433.8K |
Total Long-Term Assets | $37.60K | $34.25K | $36.16K |
Total Assets | $319.9K | $590.5K | $470.0K |
YoY Change | -93.96% | -83.43% | -49.35% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $615.4K | $611.5K | $615.8K |
YoY Change | 13.89% | 3.65% | 1.2% |
Accrued Expenses | $1.262M | $1.050M | $931.4K |
YoY Change | 48.46% | 6.7% | -53.28% |
Deferred Revenue | $760.4K | $660.4K | $665.4K |
YoY Change | 14.29% | ||
Short-Term Debt | $814.3K | $641.4K | |
YoY Change | -42.96% | -52.13% | |
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $8.606M | $6.858M | $7.013M |
YoY Change | 37.94% | 12.81% | 1.27% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | |||
YoY Change | |||
Other Long-Term Liabilities | |||
YoY Change | |||
Total Long-Term Liabilities | |||
YoY Change | |||
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $8.606M | $6.858M | $7.013M |
Total Long-Term Liabilities | |||
Total Liabilities | $8.606M | $6.858M | $7.013M |
YoY Change | 37.94% | 12.81% | 1.27% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$75.93M | -$73.54M | -$71.72M |
YoY Change | |||
Common Stock | $70.29M | $67.91M | $65.82M |
YoY Change | |||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | $44.17K | $44.17K | $44.17K |
YoY Change | |||
Treasury Stock Shares | 484.8K shares | 484.8K shares | |
Shareholders Equity | -$8.287M | -$6.268M | -$6.544M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $319.9K | $590.5K | $470.0K |
YoY Change | -93.96% | -83.43% | -49.35% |
Cashflow Statement
Concept | 2023 Q1 | 2022 Q3 | 2022 Q2 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$1.779M | -$1.821M | |
YoY Change | -13.33% | -69.45% | |
Depreciation, Depletion And Amortization | |||
YoY Change | |||
Cash From Operating Activities | -$407.2K | ||
YoY Change | 0.12% | ||
INVESTING ACTIVITIES | |||
Capital Expenditures | |||
YoY Change | |||
Acquisitions | |||
YoY Change | |||
Other Investing Activities | |||
YoY Change | |||
Cash From Investing Activities | |||
YoY Change | |||
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | $16.00K | ||
YoY Change | 6.67% | ||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | $353.3K | ||
YoY Change | -50.08% | ||
NET CHANGE | |||
Cash From Operating Activities | -$407.2K | ||
Cash From Investing Activities | |||
Cash From Financing Activities | $353.3K | ||
Net Change In Cash | -$53.97K | ||
YoY Change | -157.78% | ||
FREE CASH FLOW | |||
Cash From Operating Activities | -$407.2K | ||
Capital Expenditures | |||
Free Cash Flow | |||
YoY Change |
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|
-492547 | usd |
CY2021Q3 | us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
75132 | usd |
CY2022Q3 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-407228 | usd |
CY2021Q3 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-406732 | usd |
CY2021Q3 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-207583 | usd |
CY2022Q3 | PHIL |
Proceeds From Financing Loans
ProceedsFromFinancingLoans
|
41332 | usd |
CY2021Q3 | PHIL |
Proceeds From Financing Loans
ProceedsFromFinancingLoans
|
101204 | usd |
CY2022Q3 | us-gaap |
Proceeds From Notes Payable
ProceedsFromNotesPayable
|
378590 | usd |
CY2021Q3 | us-gaap |
Proceeds From Notes Payable
ProceedsFromNotesPayable
|
793909 | usd |
CY2022Q3 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
16000 | usd |
CY2021Q3 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
15000 | usd |
CY2022Q3 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
353258 | usd |
CY2021Q3 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
707705 | usd |
CY2022Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-53970 | usd |
CY2021Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
93390 | usd |
CY2022Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
67896 | usd |
CY2021Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
95344 | usd |
CY2022Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
13926 | usd |
CY2021Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
188734 | usd |
CY2021Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-5997389 | usd |
CY2021Q3 | us-gaap |
Stock Redeemed Or Called During Period Value
StockRedeemedOrCalledDuringPeriodValue
|
1537 | usd |
CY2021Q3 | us-gaap |
Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
|
599019 | usd |
CY2021Q3 | PHIL |
Stock Issued During Period Value Accrued Salaries
StockIssuedDuringPeriodValueAccruedSalaries
|
1585490 | usd |
CY2021Q3 | us-gaap |
Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
|
4908800 | usd |
CY2021Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-5960170 | usd |
CY2021Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-2514670 | usd |
CY2021Q4 | us-gaap |
Stock Redeemed Or Called During Period Value
StockRedeemedOrCalledDuringPeriodValue
|
2660911 | usd |
CY2021Q4 | us-gaap |
Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
|
9734200 | usd |
CY2021Q4 | PHIL |
Stock Issued During Period Value Accrued Salaries
StockIssuedDuringPeriodValueAccruedSalaries
|
297721 | usd |
CY2021Q4 | us-gaap |
Stock Issued During Period Value Conversion Of Units
StockIssuedDuringPeriodValueConversionOfUnits
|
172609 | usd |
CY2021Q4 | PHIL |
Stock Issued During Value Exercise Of Warrants
StockIssuedDuringValueExerciseOfWarrants
|
219654 | usd |
CY2021Q4 | PHIL |
Stock Issued During Period Value Previously Paid Subscription
StockIssuedDuringPeriodValuePreviouslyPaidSubscription
|
165000 | usd |
CY2021Q4 | PHIL |
Stock Issued During Period Preferred Shares Issued For Loan Repayment
StockIssuedDuringPeriodPreferredSharesIssuedForLoanRepayment
|
600 | usd |
CY2021Q4 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-10591638 | usd |
CY2021Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-1463100 | usd |
CY2022Q1 | us-gaap |
Stock Issued During Period Value Conversion Of Units
StockIssuedDuringPeriodValueConversionOfUnits
|
1870240 | usd |
CY2022Q1 | PHIL |
Stock Issued During Value Exercise Of Warrants
StockIssuedDuringValueExerciseOfWarrants
|
676604 | usd |
CY2022Q1 | PHIL |
Stock Issued During Period Value Accrued Salaries
StockIssuedDuringPeriodValueAccruedSalaries
|
143000 | usd |
CY2022Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-946420 | usd |
CY2022Q2 | us-gaap |
Stock Issued During Period Value Conversion Of Units
StockIssuedDuringPeriodValueConversionOfUnits
|
904787 | usd |
CY2022Q2 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
5000 | usd |
CY2022Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-6543502 | usd |
CY2022Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-6543502 | usd |
CY2022Q3 | PHIL |
Stock Issued During Value Conversions Of Promissory Notes
StockIssuedDuringValueConversionsOfPromissoryNotes
|
233614 | usd |
CY2022Q3 | PHIL |
Stock Issued During Value Exercise Of Warrants
StockIssuedDuringValueExerciseOfWarrants
|
2395080 | usd |
CY2022Q3 | us-gaap |
Stock Redeemed Or Called During Period Value
StockRedeemedOrCalledDuringPeriodValue
|
545710 | usd |
CY2022Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-6267628 | usd |
CY2022Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-6267628 | usd |
CY2022Q3 | us-gaap |
Nature Of Operations
NatureOfOperations
|
<p id="xdx_805_eus-gaap--NatureOfOperations_zDBlQxdjaUIc" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline">NOTE 1</span></b> – <b><span id="xdx_823_znjlKYmFGWbd">NATURE OF BUSINESS</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>INTRODUCTION</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">PHI Group, Inc. (n/k/a Philux Global Group Inc) (the “Company” or “PHI”) (<span style="text-decoration: underline">www.philuxglobal.com</span>) is primarily engaged in mergers and acquisitions, advancing PHILUX Global Funds, SCA, SICAV-RAIF, a “Reserved Alternative Investment Fund” (“RAIF”) under the laws of Luxembourg, and establishing the Asia Diamond Exchange in Vietnam. Besides, the Company provides corporate finance services, including merger and acquisition advisory and consulting services for client companies through our wholly owned subsidiary PHILUX Capital Advisors, Inc. (formerly PHI Capital Holdings, Inc.) (www.philuxcapital.com<span style="text-decoration: underline">)</span> and invests in selective industries and special situations aiming to potentially create significant long-term value for our shareholders. PHILUX Global Funds intends to include a number of sub-funds for investment in select growth opportunities in the areas of agriculture, renewable energy, real estate, infrastructure, and the Asia Diamond Exchange in Vietnam.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>BACKGROUND</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Originally incorporated on June 8, 1982 as JR Consulting, Inc., a Nevada corporation, the Company applied for a Certificate of Domestication and filed Articles of Domestication to become a Wyoming corporation on September 20, 2017. In the beginning, the Company was foremost engaged in mergers and acquisitions and had an operating subsidiary, Diva Entertainment, Inc., which operated two modeling agencies, one in New York and one in California. In January 2000, the Company changed its name to Providential Securities, Inc., a Nevada corporation, following a business combination with Providential Securities, Inc., a California-based financial services company. In February 2000, the Company then changed its name to Providential Holdings, Inc. In October 2000, Providential Securities withdrew its securities brokerage membership and ceased its financial services business. Subsequently, in April 2009, the Company changed its name to PHI Group, Inc. From October 2000 to October 2011, the Company and its subsidiaries were engaged in various transactions in connection with mergers and acquisitions advisory and consulting services, real estate and hospitality development, mining, oil and gas, telecommunications, technology, healthcare, private equity, and special situations. In October 2011, the Company discontinued the operations of Providential Vietnam Ltd., Philand Ranch Limited, a United Kingdom corporation (together with its subsidiaries Philand Ranch - Singapore, Philand Corporation - US, and Philand Vietnam Ltd. - Vietnam), PHI Gold Corporation (formerly PHI Mining Corporation, a Nevada corporation), and PHI Energy Corporation (a Nevada corporation), and mainly focused on acquisition and development opportunities in energy and natural resource businesses.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company is currently focused on PHILUX Global Funds, SCA, SICAV-RAIF by launching Philux Global Select Growth Fund and potentially other sub-funds for investment in real estate, renewable energy, infrastructure, agriculture and healthcare and the Asia Diamond Exchange in Vietnam. In addition, PHILUX Capital Advisors, Inc. (formerly Capital Holdings, Inc.), a wholly owned subsidiary of the Company, continues to provide corporate and project finance services, including merger and acquisition (M&A) advisory and consulting services for U.S. and international companies. The Company has signed agreements to acquire majority equity interests in Kota Construction LLC and Kota Energy Group LLC which are engaged in solar energy business (<span style="text-decoration: underline">https://www.kotasolar.com</span>), Tin Thanh Group, a Vietnamese joint stock company (<span style="text-decoration: underline">www.tinthanhgroup.vn</span>) and Van Phat Dat Joint Stock Company, a Vietnamese joint stock company. In addition, the Company is in the process of amending the Purchase and Sale Agreement that was originally signed on January 18, 2022 with Five-Grain Treasure Spirits Co., Ltd., a Chinese baiju distiller, to collaborate in launching American-made baiju products through Empire Spirits, Inc., a subsidiary of the Company. The Company will relocate CO2-1-0 (CARBON) Corp., a subsidiary of the Company engaged in carbon emission mitigation using blockchain and crypto technologies, to the United Arab Emirates. These activities are disclosed in greater detail elsewhere in this report. No assurances can be made that the Company will be successful in achieving its plans.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>BUSINESS STRATEGY</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">PHI’s strategy is to:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1. Identify, build, acquire, commit and deploy valuable resources with distinctive competitive advantages;</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2. Identify, evaluate, acquire, participate and compete in attractive businesses that have large, growing market potential;</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3. Build an attractive investment that includes points of exit for investors through capital appreciation or spin-offs of business units.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> | |
CY2022Q3 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<p id="xdx_84C_eus-gaap--UseOfEstimates_zKE3AXAUd6nb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>USE OF ESTIMATES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> | |
CY2022Q3 | us-gaap |
Marketable Securities Current
MarketableSecuritiesCurrent
|
546 | usd |
CY2022Q3 | us-gaap |
Marketable Securities Current
MarketableSecuritiesCurrent
|
546 | usd |
CY2022Q3 | us-gaap |
Long Term Investments
LongTermInvestments
|
34250 | usd |
CY2022Q3 | us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<p id="xdx_842_eus-gaap--ConcentrationRiskCreditRisk_zvfFaqitzull" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>RISKS AND UNCERTAINTIES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In the normal course of business, the Company is subject to certain risks and uncertainties. The Company provides its service and receives marketable securities upon execution of transactions. Consequently, the value of the securities received from customers can be affected by economic fluctuations and each customer’s business growth. The actual realized value of these securities could be significantly different than recorded value.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> | |
CY2022Q3 | us-gaap |
Marketable Securities Current
MarketableSecuritiesCurrent
|
546 | usd |
CY2022Q2 | us-gaap |
Marketable Securities Current
MarketableSecuritiesCurrent
|
546 | usd |
CY2022Q2 | us-gaap |
Long Term Investments
LongTermInvestments
|
36161 | usd |
CY2022Q3 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
611455 | usd |
CY2022Q2 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
615805 | usd |
CY2021Q2 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
608521 | usd |
CY2022Q3 | us-gaap |
Settlement Liabilities Current
SettlementLiabilitiesCurrent
|
1586619 | usd |
CY2022Q2 | us-gaap |
Settlement Liabilities Current
SettlementLiabilitiesCurrent
|
1574775 | usd |
CY2021Q2 | us-gaap |
Settlement Liabilities Current
SettlementLiabilitiesCurrent
|
1474775 | usd |
CY2022Q3 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
1049685 | usd |
CY2022Q2 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
931417 | usd |
CY2021Q2 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
1993478 | usd |
CY2022Q3 | us-gaap |
Short Term Bank Loans And Notes Payable
ShortTermBankLoansAndNotesPayable
|
922229 | usd |
CY2022Q2 | us-gaap |
Short Term Bank Loans And Notes Payable
ShortTermBankLoansAndNotesPayable
|
676888 | usd |
CY2021Q2 | us-gaap |
Short Term Bank Loans And Notes Payable
ShortTermBankLoansAndNotesPayable
|
325621 | usd |
CY2022Q3 | us-gaap |
Convertible Notes Payable Current
ConvertibleNotesPayableCurrent
|
889500 | usd |
CY2022Q2 | us-gaap |
Convertible Notes Payable Current
ConvertibleNotesPayableCurrent
|
756250 | usd |
CY2021Q2 | us-gaap |
Convertible Notes Payable Current
ConvertibleNotesPayableCurrent
|
220230 | usd |
CY2022Q3 | us-gaap |
Due To Officers Or Stockholders Current
DueToOfficersOrStockholdersCurrent
|
1035886 | usd |
CY2022Q2 | us-gaap |
Due To Officers Or Stockholders Current
DueToOfficersOrStockholdersCurrent
|
1077218 | usd |
CY2021Q2 | us-gaap |
Due To Officers Or Stockholders Current
DueToOfficersOrStockholdersCurrent
|
1720323 | usd |
CY2022Q3 | us-gaap |
Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
|
660434 | usd |
CY2022Q2 | us-gaap |
Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
|
665434 | usd |
CY2021Q2 | us-gaap |
Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
|
582237 | usd |
CY2022Q3 | us-gaap |
Derivative Liabilities Current
DerivativeLiabilitiesCurrent
|
102368 | usd |
CY2022Q2 | us-gaap |
Derivative Liabilities Current
DerivativeLiabilitiesCurrent
|
715677 | usd |
CY2022Q3 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
6858175 | usd |
CY2022Q2 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
7013465 | usd |
CY2021Q2 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
6925185 | usd |
CY2022Q3 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
1049685 | usd |
CY2022Q3 | us-gaap |
Accrued Salaries Current
AccruedSalariesCurrent
|
763842 | usd |
CY2022Q3 | us-gaap |
Interest Payable Current
InterestPayableCurrent
|
285843 | usd |
CY2022Q3 | us-gaap |
Short Term Borrowings
ShortTermBorrowings
|
641380 | usd |
CY2022Q3 | us-gaap |
Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
|
660434 | usd |
CY2022Q3 | us-gaap |
Due To Officers Or Stockholders Current
DueToOfficersOrStockholdersCurrent
|
1035886 | usd |
CY2022Q2 | us-gaap |
Due To Officers Or Stockholders Current
DueToOfficersOrStockholdersCurrent
|
1077218 | usd |
CY2022Q3 | us-gaap |
Due To Officers Or Stockholders Current
DueToOfficersOrStockholdersCurrent
|
1035886 | usd |
CY2022Q2 | us-gaap |
Due To Officers Or Stockholders Current
DueToOfficersOrStockholdersCurrent
|
1077218 | usd |
CY2022Q3 | us-gaap |
Accrued Payroll Taxes Current And Noncurrent
AccruedPayrollTaxesCurrentAndNoncurrent
|
5747 | usd |
CY2022Q3 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
60000000000 | shares |
CY2022Q3 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
CY2022Q3 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
500000000 | shares |
CY2022Q3 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.001 | |
CY2022Q3 | us-gaap |
Treasury Stock Shares
TreasuryStockShares
|
484767 | shares |
CY2022Q3 | us-gaap |
Treasury Stock Value
TreasuryStockValue
|
44170 | usd |
CY2022Q3 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
33645885430 | shares |
CY2022Q3 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
33645885430 | shares |
CY2015Q1 | us-gaap |
Employee Stock Ownership Plan Esop Number Of Allocated Shares
EmployeeStockOwnershipPlanESOPNumberOfAllocatedShares
|
1000000 | shares |
CY2022Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
|
0.0118 | pure |
CY2022Q3 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
|
P7Y | |
CY2022Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
|
2.393 | pure |
CY2022Q2 | PHIL |
Annual Revenues
AnnualRevenues
|
5500000000 | usd |
CY2022Q3 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-73538986 | usd |
CY2022Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-6267628 | usd |
CY2022Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-1821013 | usd |
CY2021Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-5960170 | usd |