$PHIL
PHI GROUP INC Stock $phil

$phil Overview Financials Valuation SEC Filings Company Website

2024 Q2 Form 10-Q Financial Statement

#000149315224020764 Filed on May 20, 2024

Income Statement

Concept	2024 Q2	2024 Q1
Revenue
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin		$221.0K
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses		$221.0K
YoY Change		-28.04%
Operating Profit		-$221.0K
YoY Change		-28.04%
Interest Expense		$76.92K
YoY Change		-79.6%
% of Operating Profit
Other Income/Expense, Net		-$1.469M
YoY Change		-0.15%
Pretax Income		-$1.690M
YoY Change
Income Tax
% Of Pretax Income
Net Earnings		-$1.690M
YoY Change		-4.96%
Net Earnings / Revenue
Basic Earnings Per Share		$0.00
Diluted Earnings Per Share		$0.00
COMMON SHARES
Basic Shares Outstanding	46.87B shares	46.15B shares
Diluted Shares Outstanding		44.03B shares

Balance Sheet

Concept	2024 Q2	2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments		$41.75K
YoY Change
Cash & Equivalents	$303.00	$41.75K
Short-Term Investments		$0.00
Other Short-Term Assets	$58.33K	$83.33K
YoY Change	-75.84%	-65.62%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets	$58.64K	$125.1K
YoY Change	-77.59%	-55.69%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments		$32.40K
YoY Change
Other Assets
YoY Change
Total Long-Term Assets	$32.22K	$32.40K
YoY Change	-1.18%	-13.83%
TOTAL ASSETS
Total Short-Term Assets	$58.64K	$125.1K
Total Long-Term Assets	$32.22K	$32.40K
Total Assets	$90.86K	$157.5K
YoY Change	-69.12%	-50.77%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$626.7K	$621.3K
YoY Change	1.7%	0.95%
Accrued Expenses	$1.796M	$2.289M
YoY Change	20.91%	81.44%
Deferred Revenue	$952.7K	$1.030M
YoY Change	-11.71%	35.42%
Short-Term Debt	$1.919M	$3.018M
YoY Change	64.78%	270.59%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$9.745M	$9.094M
YoY Change	14.43%	5.67%
LONG-TERM LIABILITIES
Long-Term Debt		$0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities		$0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities	$9.745M	$9.094M
Total Long-Term Liabilities		$0.00
Total Liabilities	$9.745M	$9.094M
YoY Change	14.43%	5.67%
SHAREHOLDERS EQUITY
Retained Earnings	-$85.51M	-$83.71M
YoY Change	10.6%	10.24%
Common Stock	$75.98M	$75.69M
YoY Change	5.26%	7.68%
Preferred Stock
YoY Change
Treasury Stock (at cost)	$44.17K	$44.17K
YoY Change	0.0%	0.0%
Treasury Stock Shares
Shareholders Equity	-$9.654M	-$8.937M
YoY Change
Total Liabilities & Shareholders Equity	$90.86K	$157.5K
YoY Change	-69.12%	-50.77%

Cashflow Statement

Concept	2024 Q2	2024 Q1
OPERATING ACTIVITIES
Net Income		-$1.690M
YoY Change		-4.96%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities		-$1.723M
YoY Change
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities		$0.00
YoY Change
Cash From Investing Activities		$0.00
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities		1.736M
YoY Change
NET CHANGE
Cash From Operating Activities		-1.723M
Cash From Investing Activities		0.000
Cash From Financing Activities		1.736M
Net Change In Cash		12.30K
YoY Change
FREE CASH FLOW
Cash From Operating Activities		-$1.723M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--06-30
	dei	Entity Emerging Growth Company EntityEmergingGrowthCompany	false
	dei	Entity Central Index Key EntityCentralIndexKey	0000704172
	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2024
CY2024Q1	us-gaap	Marketable Securities Current MarketableSecuritiesCurrent		usd
CY2024Q1	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax		usd
CY2024Q1	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax		usd
CY2023Q1	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax		usd
	PHIG	Adjustment For Funds In Transit AdjustmentForFundsInTransit		usd
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities		usd
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities		usd
CY2024Q1	us-gaap	Marketable Securities Current MarketableSecuritiesCurrent		usd
CY2024Q1	us-gaap	Marketable Securities Current MarketableSecuritiesCurrent		usd
	dei	Document Type DocumentType	10-Q
	dei	Document Quarterly Report DocumentQuarterlyReport	true
	dei	Document Period End Date DocumentPeriodEndDate	2024-03-31
	dei	Entity Current Reporting Status EntityCurrentReportingStatus	Yes
	dei	Entity Interactive Data Current EntityInteractiveDataCurrent	No
	dei	Entity Filer Category EntityFilerCategory	Non-accelerated Filer
	dei	Entity Small Business EntitySmallBusiness	true
	dei	Entity Shell Company EntityShellCompany	false
CY2024Q2	dei	Entity Common Stock Shares Outstanding EntityCommonStockSharesOutstanding	46873940565	shares
CY2024Q1	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	41745	usd
CY2023Q2	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	19765	usd
CY2023Q2	us-gaap	Marketable Securities Current MarketableSecuritiesCurrent	420	usd
CY2023Q2	us-gaap	Other Assets Current OtherAssetsCurrent	241426	usd
CY2023Q2	us-gaap	Assets Current AssetsCurrent	261611	usd
CY2023Q2	us-gaap	Long Term Investments LongTermInvestments	32604	usd
CY2023Q2	us-gaap	Assets Assets	294215	usd
CY2023Q2	us-gaap	Accounts Payable Current AccountsPayableCurrent	616245	usd
CY2023Q2	us-gaap	Settlement Liabilities Current SettlementLiabilitiesCurrent	1624775	usd
CY2023Q2	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	1485310	usd
CY2023Q2	us-gaap	Short Term Bank Loans And Notes Payable ShortTermBankLoansAndNotesPayable	1164685	usd
CY2023Q2	us-gaap	Convertible Notes Payable Current ConvertibleNotesPayableCurrent	297805	usd
CY2023Q2	us-gaap	Contract With Customer Liability Current ContractWithCustomerLiabilityCurrent	1079038	usd
CY2024Q1	us-gaap	Derivative Liabilities Current DerivativeLiabilitiesCurrent	12964	usd
CY2023Q2	us-gaap	Derivative Liabilities Current DerivativeLiabilitiesCurrent	1220576	usd
CY2024Q1	us-gaap	Liabilities Liabilities	9094131	usd
CY2023Q2	us-gaap	Liabilities Liabilities	8516217	usd
CY2024Q1	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.001
CY2023Q2	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.001
CY2024Q1	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	500000000	shares
CY2023Q2	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	500000000	shares
CY2024Q1	us-gaap	Preferred Stock Including Additional Paid In Capital PreferredStockIncludingAdditionalPaidInCapital	2440	usd
CY2023Q2	us-gaap	Preferred Stock Including Additional Paid In Capital PreferredStockIncludingAdditionalPaidInCapital	2440	usd
CY2024Q1	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.001
CY2023Q2	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.001
CY2024Q1	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	60000000000	shares
CY2024Q1	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	46150489186	shares
CY2024Q1	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	46150489186	shares
CY2023Q2	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	60000000000	shares
CY2023Q2	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	39414493	shares
CY2023Q2	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	39414493	shares
	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	5000	usd
	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	25000	usd
	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	5000	usd
CY2024Q1	us-gaap	Salaries And Wages SalariesAndWages	52500	usd
CY2023Q1	us-gaap	Salaries And Wages SalariesAndWages	90000	usd
	us-gaap	Professional And Contract Services Expense ProfessionalAndContractServicesExpense	418045	usd
	us-gaap	Professional And Contract Services Expense ProfessionalAndContractServicesExpense	436226	usd
CY2024Q1	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	22350	usd
	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	102819	usd
CY2023Q1	us-gaap	Operating Expenses OperatingExpenses	307065	usd
	us-gaap	Operating Expenses OperatingExpenses	653410	usd
	us-gaap	Operating Expenses OperatingExpenses	809045	usd
CY2024Q1	us-gaap	Operating Income Loss OperatingIncomeLoss	-220960	usd
CY2023Q1	us-gaap	Operating Income Loss OperatingIncomeLoss	-307065	usd
	us-gaap	Operating Income Loss OperatingIncomeLoss	-648410	usd
	us-gaap	Operating Income Loss OperatingIncomeLoss	-784045	usd
CY2024Q1	us-gaap	Interest Expense InterestExpense	76918	usd
CY2023Q1	us-gaap	Interest Expense InterestExpense	377009	usd
	us-gaap	Interest Expense InterestExpense	357218	usd
	us-gaap	Interest Expense InterestExpense	822905	usd
CY2024Q1	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	-1392528	usd
CY2023Q1	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	-1094638	usd
	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	-5386642	usd
	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	-2609718	usd
CY2024Q1	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	-1469446	usd
CY2023Q1	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	-1471647	usd
	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	-5743860	usd
	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	-3432624	usd
CY2024Q1	us-gaap	Net Income Loss NetIncomeLoss	-1690405	usd
	us-gaap	Net Income Loss NetIncomeLoss	-4216669	usd
CY2024Q1	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-0.00
CY2023Q1	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-0.00
	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-0.00
	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-0.00
CY2024Q1	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-0.00
CY2023Q1	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-0.00
	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-0.00
	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-0.00
CY2024Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	44025990449	shares
CY2023Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	34018394095	shares
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	44025990449	shares
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	34018394095	shares
CY2024Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	44025990449	shares
CY2023Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	34018394095	shares
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	44025990449	shares
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	34018394095	shares
	us-gaap	Net Income Loss NetIncomeLoss	-6392270	usd
	us-gaap	Net Income Loss NetIncomeLoss	-4216669	usd
	us-gaap	Derivative Gain Loss On Derivative Net DerivativeGainLossOnDerivativeNet	121030	usd
	us-gaap	Derivative Gain Loss On Derivative Net DerivativeGainLossOnDerivativeNet	1485011	usd
	PHIG	Stock Issuance For Cancellation Of Debts Warrant Exercises And Service StockIssuanceForCancellationOfDebtsWarrantExercisesAndService	2404786	usd
	PHIG	Stock Issuance For Cancellation Of Debts Warrant Exercises And Service StockIssuanceForCancellationOfDebtsWarrantExercisesAndService	3793473	usd
	PHIG	Adjustment For Funds In Transit AdjustmentForFundsInTransit	2500	usd
	us-gaap	Increase Decrease In Deferred Charges IncreaseDecreaseInDeferredCharges	-197366	usd
	us-gaap	Increase Decrease In Deferred Charges IncreaseDecreaseInDeferredCharges	-113440	usd
	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	82913	usd
	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	-7000	usd
	PHIG	Increase Decrease In Accounts Payables IncreaseDecreaseInAccountsPayables	5035	usd
	PHIG	Increase Decrease In Accounts Payables IncreaseDecreaseInAccountsPayables	-400	usd
	PHIG	Increase Decrease In Accrued Expenses IncreaseDecreaseInAccruedExpenses	807680	usd
	PHIG	Increase Decrease In Accrued Expenses IncreaseDecreaseInAccruedExpenses	224793	usd
	PHIG	Increase Decrease In Subfund Obligations And Contingency Commitments IncreaseDecreaseInSubfundObligationsAndContingencyCommitments	-69450	usd
	PHIG	Increase Decrease In Subfund Obligations And Contingency Commitments IncreaseDecreaseInSubfundObligationsAndContingencyCommitments	108684	usd
	us-gaap	Increase Decrease In Contract With Customer Liability IncreaseDecreaseInContractWithCustomerLiability	20169	usd
	us-gaap	Increase Decrease In Contract With Customer Liability IncreaseDecreaseInContractWithCustomerLiability	95000	usd
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-3230627	usd
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-1357190	usd
	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	1122224	usd
	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	251800	usd
	PHIG	Proceeds From Common Stock To Be Issued ProceedsFromCommonStockToBeIssued	1084290	usd
	PHIG	Proceeds From Common Stock To Be Issued ProceedsFromCommonStockToBeIssued	396000	usd
	us-gaap	Proceeds From Repayments Of Short Term Debt ProceedsFromRepaymentsOfShortTermDebt	1046092	usd
	us-gaap	Proceeds From Repayments Of Short Term Debt ProceedsFromRepaymentsOfShortTermDebt	680919	usd
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	3252606	usd
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	1328719	usd
	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	21980	usd
	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	-28471	usd
CY2023Q2	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	19765	usd
CY2022Q2	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	67896	usd
CY2024Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	41745	usd
CY2023Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	39424	usd
CY2022Q2	us-gaap	Stockholders Equity StockholdersEquity	-6543502	usd
	PHIG	Stock Issued During Value Conversions Of Promissory Notes StockIssuedDuringValueConversionsOfPromissoryNotes	233614	usd
	PHIG	Stock Issued During Value Exercise Of Warrants StockIssuedDuringValueExerciseOfWarrants	2395080	usd
	us-gaap	Stock Redeemed Or Called During Period Value StockRedeemedOrCalledDuringPeriodValue	-545710	usd
CY2022Q4	us-gaap	Stockholders Equity StockholdersEquity	-6881906	usd
CY2023Q1	PHIG	Stock Issued During Value Conversions Of Promissory Notes StockIssuedDuringValueConversionsOfPromissoryNotes	1576175	usd
CY2023Q1	PHIG	Stock Issued During Value Shares Issued For Cash StockIssuedDuringValueSharesIssuedForCash	624865	usd
CY2023Q1	us-gaap	Stock Issued During Period Value New Issues StockIssuedDuringPeriodValueNewIssues	185000	usd
CY2023Q1	us-gaap	Stockholders Equity StockholdersEquity	-8286628	usd
CY2023Q2	us-gaap	Stock Issued During Period Value Conversion Of Units StockIssuedDuringPeriodValueConversionOfUnits	974877	usd
CY2023Q2	PHIG	Stock Issued During Value Shares Issued For Cash StockIssuedDuringValueSharesIssuedForCash	919396	usd
CY2023Q2	us-gaap	Stockholders Equity StockholdersEquity	-8222002	usd
CY2023Q3	PHIG	Stock Issued During Value Conversions Of Promissory Notes1 StockIssuedDuringValueConversionsOfPromissoryNotes1	102937	usd
CY2023Q3	PHIG	Stock Issued During Value Exercise Of Warrants1 StockIssuedDuringValueExerciseOfWarrants1	1756320	usd
CY2023Q3	PHIG	Stock Issued During Value Conversions Of Promissory Notes2 StockIssuedDuringValueConversionsOfPromissoryNotes2	75016	usd
CY2023Q4	PHIG	Stock Issued For Stock Purchase Agreements With Current Shareholders StockIssuedForStockPurchaseAgreementsWithCurrentShareholders	296004	usd
CY2023Q4	us-gaap	Stock Issued During Period Value Conversion Of Units StockIssuedDuringPeriodValueConversionOfUnits	59500	usd
CY2023Q4	us-gaap	Stockholders Equity StockholdersEquity	-8546330	usd
CY2024Q1	us-gaap	Stock Issued During Period Value Issued For Services StockIssuedDuringPeriodValueIssuedForServices	100000	usd
CY2024Q1	us-gaap	Stockholders Equity StockholdersEquity	-8936653	usd
CY2024Q1	us-gaap	Stockholders Equity StockholdersEquity	-8936653	usd
	us-gaap	Nature Of Operations NatureOfOperations	<p id="xdx_808_eus-gaap--NatureOfOperations_ziEwSMI1f7D4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; 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_82D_zMGri3Rl1v28">NATURE OF BUSINESS</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; 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 0pt 0pt 0; 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 0pt 0pt 0; 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 0pt 0pt 0; 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 developing 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 renewable energy, real estate, infrastructure, healthcare, agriculture, and the Asia Diamond Exchange in conjunction with the International Financial Center in Vietnam.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; 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 0pt 0pt 0; 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 0pt 0pt 0; 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 0pt 0pt 0; 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 0pt 0pt 0; 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 0pt 0pt 0; 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, healthcare and the International Financial Center and Asia Diamond Exchange in Vietnam. In addition, Philux Capital Advisors, 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 also formed Philux Global Advisors, Inc. to serve as the investment advisor to Philux Global Funds and other potential fund clients in the future.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In May 2023, the company signed a business cooperation agreement with SSE Global JSC, a Vietnamese joint stock company, to establish SSE Global Group, Inc., a Wyoming corporation, (<span style="text-decoration: underline">www.sseglobalgroup.com</span>) to commercialize a self-sustainable energy technology.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In June 2023 the Company signed a business cooperation agreement with Saphia Alkali JSC, a Vietnamese joint stock company, to form Sapphire Alkali Global Group in the United States to finance, manufacture, sell and distribute Saphia Alkali’s proprietary products on a worldwide basis.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In December 2023 the Company signed an Agreement for Comprehensive Cooperation Agreement with a Vietnamese inventor (the “Inventor”) to cooperate in the development and implementation of a proprietary clean energy technology using geomagnetic energy and focus on the following areas: (1) Applying the Inventor’s proprietary inventions that are specifically designed to exploit the earth’s available geomagnetic energy to generate energy and store energy without using an energy storage system (ESS), (2) Producing and providing generators using the earth’s available geomagnetic energy, (3) Producing engines (spaceships, airplanes, ships, cars, trains, motorcycles, etc.) powered by the earth’s available geomagnetic energy, and (4) Developing additional multiple new technologies that the Inventor has studied and researched. The Parties agree to use Philux Global Energy, Inc., a Wyoming corporation and wholly-owned subsidiary of Philux Global Group, Inc., Registration Number 2022-001066221, incorporated on January 3, 2022, as the operating company to commercialize energy-related products based on the proprietary researches and developments of the Inventor. The Inventor shall serve as the Chief Technology Officer of Philux Global Energy, Inc. and transfer certain intellectual properties related to energy generation using the earth’s available geomagnetic energy to Philux Global Energy, Inc. for commercialization. The Inventor and the Company each will hold fifty percent (50%) of the initial Common Stock of Philux Global Energy, Inc.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company intends to integrate these clean energy technologies in the new subsidiary to be established in United Arab Emirates which will replace its former subsidiary CO2-1-0 (CARBON) Corp. to continue engaging in carbon emission mitigation using blockchain and crypto technologies.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 0pt 0pt 0; 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 0pt 0pt 0; 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 0pt 0pt 0; 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 0pt 0pt 0; 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 0pt 0pt 0; 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 0pt 0pt 0; 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 0pt 0pt 0; 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 0pt 0pt 0; 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 0pt 0pt 0; 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 0pt 0pt 0; 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 0pt 0pt 0; 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
	us-gaap	Use Of Estimates UseOfEstimates	<p id="xdx_849_eus-gaap--UseOfEstimates_z5sqabc9KtD2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86C_z8XJ3w4rYTQ">USE OF ESTIMATES</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; 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 0pt 0pt 0; 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
	us-gaap	Concentration Risk Credit Risk ConcentrationRiskCreditRisk	<p id="xdx_84A_eus-gaap--ConcentrationRiskCreditRisk_zgIb6jSU594d" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_862_zLZm60sGww4i">RISKS AND UNCERTAINTIES</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; 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 0pt 0pt 0; 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023Q2	us-gaap	Marketable Securities Current MarketableSecuritiesCurrent	420	usd
CY2024Q1	us-gaap	Accounts Payable Current AccountsPayableCurrent	621280	usd
CY2023Q2	us-gaap	Accounts Payable Current AccountsPayableCurrent	616245	usd
CY2024Q1	us-gaap	Settlement Liabilities Current SettlementLiabilitiesCurrent	1624775	usd
CY2023Q2	us-gaap	Settlement Liabilities Current SettlementLiabilitiesCurrent	1624775	usd
CY2024Q1	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	2288990	usd
CY2023Q2	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	1485310	usd
CY2024Q1	us-gaap	Short Term Bank Loans And Notes Payable ShortTermBankLoansAndNotesPayable	3167163	usd
CY2023Q2	us-gaap	Short Term Bank Loans And Notes Payable ShortTermBankLoansAndNotesPayable	1164685	usd
CY2024Q1	us-gaap	Convertible Notes Payable Current ConvertibleNotesPayableCurrent	54420	usd
CY2023Q2	us-gaap	Convertible Notes Payable Current ConvertibleNotesPayableCurrent	297805	usd
CY2024Q1	us-gaap	Contract With Customer Liability Current ContractWithCustomerLiabilityCurrent	1029757	usd
CY2023Q2	us-gaap	Contract With Customer Liability Current ContractWithCustomerLiabilityCurrent	1079038	usd
CY2024Q1	us-gaap	Derivative Liabilities Current DerivativeLiabilitiesCurrent	12964	usd
CY2023Q2	us-gaap	Derivative Liabilities Current DerivativeLiabilitiesCurrent	1220576	usd
CY2024Q1	us-gaap	Liabilities Current LiabilitiesCurrent	9094131	usd
CY2023Q2	us-gaap	Liabilities Current LiabilitiesCurrent	8516217	usd
CY2024Q1	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	2288990	usd
CY2024Q1	us-gaap	Accrued Salaries Current And Noncurrent AccruedSalariesCurrentAndNoncurrent	1185594	usd
CY2024Q1	us-gaap	Interest Payable Current InterestPayableCurrent	506962	usd
CY2024Q1	us-gaap	Short Term Borrowings ShortTermBorrowings	3017931	usd
	us-gaap	Professional Fees ProfessionalFees	819038	usd
CY2024Q1	us-gaap	Deposits Deposits	210719	usd
CY2024Q1	us-gaap	Settlement Liabilities Current SettlementLiabilitiesCurrent	1624775	usd
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate	0.0118	pure
	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1 SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1	P7Y
CY2024Q1	us-gaap	Convertible Notes Payable Current ConvertibleNotesPayableCurrent	54420	usd
CY2024Q1	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	60000000000	shares
CY2024Q1	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.001
CY2024Q1	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	500000000	shares
CY2024Q1	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.001
	us-gaap	Treasury Stock Shares Acquired TreasuryStockSharesAcquired	484767	shares
	us-gaap	Treasury Stock Value Acquired Cost Method TreasuryStockValueAcquiredCostMethod	44170	usd
CY2024Q1	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	46150489186	shares
CY2024Q1	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	46150489186	shares
CY2015Q1	us-gaap	Employee Stock Ownership Plan Esop Number Of Allocated Shares EmployeeStockOwnershipPlanESOPNumberOfAllocatedShares	1000000	shares
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate	2.393	pure
CY2023Q3	us-gaap	Property Management Fee Percent Fee PropertyManagementFeePercentFee	0.02	pure
CY2023Q3	PHIG	Profit From Investment Percentage ProfitFromInvestmentPercentage	0.30	pure
CY2024Q1	us-gaap	Stockholders Equity StockholdersEquity	-8936653	usd
CY2024Q1	us-gaap	Net Income Loss NetIncomeLoss	-1690405	usd
CY2023Q1	us-gaap	Net Income Loss NetIncomeLoss	-1778712	usd

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$PHIL
PHI GROUP INC Stock $phil

2024 Q2 Form 10-Q Financial Statement

#000149315224020764 Filed on May 20, 2024

Income Statement

Balance Sheet

Cashflow Statement

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$PHIL PHI GROUP INC Stock $phil

2024 Q2 Form 10-Q Financial Statement

#000149315224020764 Filed on May 20, 2024

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$PHIL
PHI GROUP INC Stock $phil