2024 Q3 Form 10-Q Financial Statement
#000149315224046774 Filed on November 19, 2024
Income Statement
Concept | 2024 Q3 | 2023 Q3 |
---|---|---|
Revenue | ||
YoY Change | ||
Cost Of Revenue | ||
YoY Change | ||
Gross Profit | ||
YoY Change | ||
Gross Profit Margin | ||
Selling, General & Admin | $245.7K | |
YoY Change | ||
% of Gross Profit | ||
Research & Development | ||
YoY Change | ||
% of Gross Profit | ||
Depreciation & Amortization | ||
YoY Change | ||
% of Gross Profit | ||
Operating Expenses | $171.3K | $245.7K |
YoY Change | -30.31% | -14.32% |
Operating Profit | -$171.3K | -$245.7K |
YoY Change | -30.31% | -6.14% |
Interest Expense | $43.68K | |
YoY Change | -85.59% | |
% of Operating Profit | ||
Other Income/Expense, Net | -$905.4K | -$2.744M |
YoY Change | -67.01% | 76.0% |
Pretax Income | -$2.990M | |
YoY Change | ||
Income Tax | ||
% Of Pretax Income | ||
Net Earnings | -$1.077M | -$2.990M |
YoY Change | -63.99% | 64.19% |
Net Earnings / Revenue | ||
Basic Earnings Per Share | $0.00 | $0.00 |
Diluted Earnings Per Share | $0.00 | $0.00 |
COMMON SHARES | ||
Basic Shares Outstanding | 44.56B shares | 41.06B shares |
Diluted Shares Outstanding | 44.56B shares | 41.06B shares |
Balance Sheet
Concept | 2024 Q3 | 2023 Q3 |
---|---|---|
SHORT-TERM ASSETS | ||
Cash & Short-Term Investments | $3.780K | |
YoY Change | ||
Cash & Equivalents | $13.00 | $3.778K |
Short-Term Investments | $10.00 | |
Other Short-Term Assets | $33.33K | $241.4K |
YoY Change | -86.19% | -55.44% |
Inventory | ||
Prepaid Expenses | ||
Receivables | ||
Other Receivables | ||
Total Short-Term Assets | $33.35K | $245.2K |
YoY Change | -86.4% | -55.92% |
LONG-TERM ASSETS | ||
Property, Plant & Equipment | ||
YoY Change | ||
Goodwill | ||
YoY Change | ||
Intangibles | ||
YoY Change | ||
Long-Term Investments | $32.60K | |
YoY Change | ||
Other Assets | $0.00 | |
YoY Change | ||
Total Long-Term Assets | $33.59K | $32.60K |
YoY Change | 3.04% | -4.82% |
TOTAL ASSETS | ||
Total Short-Term Assets | $33.35K | $245.2K |
Total Long-Term Assets | $33.59K | $32.60K |
Total Assets | $66.93K | $277.8K |
YoY Change | -75.91% | -52.96% |
SHORT-TERM LIABILITIES | ||
YoY Change | ||
Accounts Payable | $629.5K | $616.1K |
YoY Change | 2.18% | 0.76% |
Accrued Expenses | $1.890M | $2.049M |
YoY Change | -7.76% | 95.17% |
Deferred Revenue | $952.7K | $1.079M |
YoY Change | -11.71% | 63.38% |
Short-Term Debt | $1.490M | |
YoY Change | 132.34% | |
Long-Term Debt Due | ||
YoY Change | ||
Total Short-Term Liabilities | $10.68M | $8.819M |
YoY Change | 21.09% | 28.59% |
LONG-TERM LIABILITIES | ||
Long-Term Debt | $0.00 | |
YoY Change | ||
Other Long-Term Liabilities | $0.00 | |
YoY Change | ||
Total Long-Term Liabilities | $0.00 | |
YoY Change | ||
TOTAL LIABILITIES | ||
Total Short-Term Liabilities | $10.68M | $8.819M |
Total Long-Term Liabilities | $0.00 | |
Total Liabilities | $10.68M | $8.819M |
YoY Change | 21.09% | 28.59% |
SHAREHOLDERS EQUITY | ||
Retained Earnings | -$86.59M | -$80.31M |
YoY Change | 7.82% | 9.21% |
Common Stock | $75.98M | $74.12M |
YoY Change | 2.51% | 9.15% |
Preferred Stock | ||
YoY Change | ||
Treasury Stock (at cost) | $44.17K | $44.17K |
YoY Change | 0.0% | 0.0% |
Treasury Stock Shares | ||
Shareholders Equity | -$10.61M | -$8.541M |
YoY Change | ||
Total Liabilities & Shareholders Equity | $66.93K | $277.8K |
YoY Change | -75.91% | -52.96% |
Cashflow Statement
Concept | 2024 Q3 | 2023 Q3 |
---|---|---|
OPERATING ACTIVITIES | ||
Net Income | -$1.077M | -$2.990M |
YoY Change | -63.99% | 64.19% |
Depreciation, Depletion And Amortization | ||
YoY Change | ||
Cash From Operating Activities | -$955.2K | -$622.5K |
YoY Change | 53.45% | 52.86% |
INVESTING ACTIVITIES | ||
Capital Expenditures | ||
YoY Change | ||
Acquisitions | ||
YoY Change | ||
Other Investing Activities | $0.00 | |
YoY Change | ||
Cash From Investing Activities | ||
YoY Change | ||
FINANCING ACTIVITIES | ||
Cash Dividend Paid | ||
YoY Change | ||
Common Stock Issuance & Retirement, Net | $117.5K | $737.1K |
YoY Change | -84.06% | 4506.64% |
Debt Paid & Issued, Net | ||
YoY Change | ||
Cash From Financing Activities | $954.9K | $606.5K |
YoY Change | 57.44% | 71.68% |
NET CHANGE | ||
Cash From Operating Activities | -$955.2K | -$622.5K |
Cash From Investing Activities | ||
Cash From Financing Activities | $954.9K | $606.5K |
Net Change In Cash | -$290.00 | -$15.99K |
YoY Change | -98.19% | -70.38% |
FREE CASH FLOW | ||
Cash From Operating Activities | -$955.2K | -$622.5K |
Capital Expenditures | ||
Free Cash Flow | ||
YoY Change |
Facts In Submission
Frame | Concept Type | Concept / XBRL Key | Value | Unit |
---|---|---|---|---|
CY2023Q3 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
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CY2024Q3 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
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|
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Document Transition Report
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|
false | |
CY2024Q3 | dei |
Entity File Number
EntityFileNumber
|
001-38255-NY | |
CY2024Q3 | dei |
Entity Registrant Name
EntityRegistrantName
|
PHI GROUP, INC. | |
CY2024Q3 | dei |
Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
|
WY | |
CY2024Q2 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
58333 | usd |
CY2024Q2 | us-gaap |
Assets Current
AssetsCurrent
|
58636 | usd |
CY2024Q2 | us-gaap |
Settlement Liabilities Current
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|
1624775 | usd |
CY2024Q2 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
1795874 | usd |
CY2024Q2 | us-gaap |
Short Term Bank Loans And Notes Payable
ShortTermBankLoansAndNotesPayable
|
4460981 | usd |
CY2024Q2 | us-gaap |
Convertible Notes Payable Current
ConvertibleNotesPayableCurrent
|
5000 | usd |
CY2024Q2 | us-gaap |
Contract With Customer Liability Current
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|
952650 | usd |
CY2024Q3 | us-gaap |
Common Stock Value
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|
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CY2024Q2 | us-gaap |
Common Stock Value
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Common Stock Value
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|
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Additional Paid In Capital Common Stock
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|
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Additional Paid In Capital Common Stock
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|
29109985 | usd |
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Common Stock To Be Issued
CommonStockToBeIssued
|
2007790 | usd |
CY2024Q3 | PHIG |
Common Stock To Be Cancelled
CommonStockToBeCancelled
|
35500 | usd |
CY2024Q2 | PHIG |
Common Stock To Be Cancelled
CommonStockToBeCancelled
|
35500 | usd |
CY2024Q3 | PHIG |
Treasury Stock Common And Preferred Shares
TreasuryStockCommonAndPreferredShares
|
484767 | shares |
CY2024Q2 | PHIG |
Treasury Stock Common And Preferred Shares
TreasuryStockCommonAndPreferredShares
|
484767 | shares |
CY2024Q3 | us-gaap |
Treasury Stock Value
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|
44170 | usd |
CY2024Q2 | us-gaap |
Treasury Stock Value
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|
44170 | usd |
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Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-86591425 | usd |
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Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
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CY2024Q3 | us-gaap |
Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
-1934833 | usd |
CY2024Q2 | us-gaap |
Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
-1936201 | usd |
CY2024Q3 | us-gaap |
Stockholders Equity
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|
-10611773 | usd |
CY2024Q2 | us-gaap |
Stockholders Equity
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|
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CY2024Q3 | us-gaap |
Liabilities And Stockholders Equity
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|
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Liabilities And Stockholders Equity
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|
90856 | usd |
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Net Income Loss
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|
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Stockholders Equity
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|
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|
Q1 | |
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Entity Emerging Growth Company
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|
false | |
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Current Fiscal Year End Date
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|
--06-30 | |
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|
2025 | |
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Entity Central Index Key
EntityCentralIndexKey
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Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
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Revenue From Contract With Customer Excluding Assessed Tax
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|
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Other Nonoperating Income
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|
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Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
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Net Cash Provided By Used In Investing Activities
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Net Cash Provided By Used In Investing Activities
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Stock Issued During Value Conversions Of Promissory Notes2
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|
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Document Type
DocumentType
|
10-Q | |
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Document Period End Date
DocumentPeriodEndDate
|
2024-09-30 | |
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Entity Tax Identification Number
EntityTaxIdentificationNumber
|
90-0114535 | |
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Entity Address Address Line1
EntityAddressAddressLine1
|
17011 Beach Blvd | |
CY2024Q3 | dei |
Entity Address Address Line2
EntityAddressAddressLine2
|
Suite 900 | |
CY2024Q3 | dei |
Entity Address City Or Town
EntityAddressCityOrTown
|
Huntington Beach | |
CY2024Q3 | dei |
Entity Address State Or Province
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|
CA | |
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Entity Address Postal Zip Code
EntityAddressPostalZipCode
|
92614 | |
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City Area Code
CityAreaCode
|
714 | |
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Local Phone Number
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|
642-0571 | |
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Security12b Title
Security12bTitle
|
Common Stock | |
CY2024Q3 | dei |
Trading Symbol
TradingSymbol
|
PHIL | |
CY2024Q3 | dei |
Entity Current Reporting Status
EntityCurrentReportingStatus
|
Yes | |
CY2024Q3 | dei |
Entity Interactive Data Current
EntityInteractiveDataCurrent
|
No | |
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Entity Filer Category
EntityFilerCategory
|
Non-accelerated Filer | |
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Entity Small Business
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0.001 | |
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Cash And Cash Equivalents At Carrying Value
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Cash And Cash Equivalents At Carrying Value
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Other Assets Current
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|
33333 | usd |
CY2024Q3 | us-gaap |
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|
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Assets
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|
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CY2024Q3 | us-gaap |
Accrued Liabilities Current
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|
1889633 | usd |
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Short Term Bank Loans And Notes Payable
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|
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CY2024Q3 | us-gaap |
Convertible Notes Payable Current
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5000 | usd |
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|
298761 | usd |
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|
278812 | usd |
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Liabilities
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Liabilities
Liabilities
|
9744823 | usd |
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Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.001 | |
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Preferred Stock Par Or Stated Value Per Share
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|
0.001 | |
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|
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|
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Preferred Stock Including Additional Paid In Capital
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Common Stock Par Or Stated Value Per Share
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|
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Common Stock Par Or Stated Value Per Share
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|
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Common Stock Shares Authorized
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|
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Common Stock Shares Issued
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Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
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Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
|
1 for 1,500 reverse split | |
CY2024 | us-gaap |
Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
|
1 for 1,500 reverse split | |
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Common Stock To Be Issued
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Salaries And Wages
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|
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General And Administrative Expense
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|
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|
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Earnings Per Share Basic
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|
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Earnings Per Share Basic
EarningsPerShareBasic
|
-0.00 | |
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Earnings Per Share Diluted
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|
-0.00 | |
CY2023Q3 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.00 | |
CY2024Q3 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
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|
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CY2023Q3 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
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CY2024Q3 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
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|
44555774381 | shares |
CY2023Q3 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
41055882399 | shares |
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Net Income Loss
NetIncomeLoss
|
-1076674 | usd |
CY2023Q3 | PHIG |
Net Change Due To Conversion Of Notes
NetChangeDueToConversionOfNotes
|
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Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
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CY2024Q3 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
2760 | usd |
CY2023Q3 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-170 | usd |
CY2024Q3 | us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
93759 | usd |
CY2023Q3 | us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
563331 | usd |
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Increase Decrease In Accounts Payable And Accrued Liabilities
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|
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Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
563161 | usd |
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Net Cash Provided By Used In Operating Activities
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|
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Net Cash Provided By Used In Operating Activities
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|
-622470 | usd |
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Proceeds From Financing Loans
ProceedsFromFinancingLoans
|
-11449 | usd |
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Proceeds From Financing Loans
ProceedsFromFinancingLoans
|
25291 | usd |
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Proceeds From Repayments Of Notes Payable
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|
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Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
117500 | usd |
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Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
737062 | usd |
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|
954865 | usd |
CY2023Q3 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
606483 | usd |
CY2024Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-290 | usd |
CY2023Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-15987 | usd |
CY2024Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
303 | usd |
CY2023Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
19764 | usd |
CY2024Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
13 | usd |
CY2023Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
3778 | 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 |
CY2023Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
8540992 | 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 Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
|
409749 | usd |
CY2024Q1 | PHIG |
Stock Issued For Stock Purchase Agreements With Current Shareholders
StockIssuedForStockPurchaseAgreementsWithCurrentShareholders
|
707426 | usd |
CY2024Q1 | us-gaap |
Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
|
100000 | usd |
CY2024Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-8936654 | usd |
CY2024Q2 | PHIG |
Stock Issued During Value Conversions Of Promissory Notes2
StockIssuedDuringValueConversionsOfPromissoryNotes2
|
289380 | usd |
CY2024Q2 | PHIG |
Stock Issued During Value Conversions Of Promissory Notes2
StockIssuedDuringValueConversionsOfPromissoryNotes2
|
289380 | usd |
CY2024Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-9653967 | usd |
CY2024Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-9653967 | usd |
CY2024Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-10611773 | usd |
CY2024Q3 | us-gaap |
Nature Of Operations
NatureOfOperations
|
<p id="xdx_808_eus-gaap--NatureOfOperations_zAhiMlgCTSpd" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 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_824_zAOEnS0W62m5">NATURE OF BUSINESS</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company is currently promoting 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. (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 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-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 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, website: <span style="text-decoration: underline">www.philuxge.com</span>, as the operating company to commercialize energy-related products based on the proprietary researches and developments of the Inventor group. The Inventor group filed a Provisional Patent Application with the US Patent and Trademark Office (USPTO) for the “Multi-Impulse Energy System” and shall assign and transfer certain intellectual properties related to energy generation using the earth’s available geomagnetic energy to Philux Global Energy, Inc. for commercialization.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> | |
CY2024Q3 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<p id="xdx_84E_eus-gaap--UseOfEstimates_zYYgz1N1P233" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_866_zOtzx7cG45U5">USE OF ESTIMATES</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> | |
CY2024Q3 | us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<p id="xdx_846_eus-gaap--ConcentrationRiskCreditRisk_zPUP6hNP7cOh" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86C_zP9Ya8bWtHn5">RISKS AND UNCERTAINTIES</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> | |
CY2024Q3 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
629490 | usd |
CY2024Q2 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
626730 | usd |
CY2024Q3 | us-gaap |
Settlement Liabilities Current
SettlementLiabilitiesCurrent
|
1624775 | usd |
CY2024Q2 | us-gaap |
Settlement Liabilities Current
SettlementLiabilitiesCurrent
|
1624775 | usd |
CY2024Q3 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
1889633 | usd |
CY2024Q2 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
1795874 | usd |
CY2024Q3 | us-gaap |
Short Term Bank Loans And Notes Payable
ShortTermBankLoansAndNotesPayable
|
5278398 | usd |
CY2024Q2 | us-gaap |
Short Term Bank Loans And Notes Payable
ShortTermBankLoansAndNotesPayable
|
4460981 | usd |
CY2024Q3 | us-gaap |
Convertible Notes Payable Current
ConvertibleNotesPayableCurrent
|
5000 | usd |
CY2024Q2 | us-gaap |
Convertible Notes Payable Current
ConvertibleNotesPayableCurrent
|
5000 | usd |
CY2024Q3 | us-gaap |
Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
|
952650 | usd |
CY2024Q2 | us-gaap |
Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
|
952650 | usd |
CY2024Q3 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
10678707 | usd |
CY2024Q2 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
9744823 | usd |
CY2024Q3 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
1889633 | usd |
CY2024Q3 | us-gaap |
Accrued Salaries Current
AccruedSalariesCurrent
|
1290595 | usd |
CY2024Q3 | us-gaap |
Interest Payable Current
InterestPayableCurrent
|
585570 | usd |
CY2024Q3 | PHIG |
Cash Over Draft
CashOverDraft
|
59 | usd |
CY2024Q3 | us-gaap |
Short Term Bank Loans And Notes Payable
ShortTermBankLoansAndNotesPayable
|
5278398 | usd |
CY2024Q3 | PHIG |
Contingency Liabilities
ContingencyLiabilities
|
3357966 | usd |
CY2024Q3 | us-gaap |
Professional Fees
ProfessionalFees
|
952650 | usd |
CY2024Q3 | us-gaap |
Interest Receivable
InterestReceivable
|
819038 | usd |
CY2024Q3 | us-gaap |
Deposits
Deposits
|
133612 | usd |
CY2024Q3 | us-gaap |
Settlement Liabilities Current
SettlementLiabilitiesCurrent
|
1624775 | usd |
CY2024Q3 | us-gaap |
Short Term Bank Loans And Notes Payable
ShortTermBankLoansAndNotesPayable
|
5278398 | usd |
CY2024Q3 | PHIG |
Contingency Liabilities
ContingencyLiabilities
|
3357966 | usd |
CY2024Q3 | us-gaap |
Convertible Notes Payable Current
ConvertibleNotesPayableCurrent
|
5000 | usd |
CY2023Q3 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
60000000000 | shares |
CY2023Q3 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
CY2023Q3 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
500000000 | shares |
CY2023Q3 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.001 | |
CY2024Q3 | PHIG |
Treasury Stock Common And Preferred Shares
TreasuryStockCommonAndPreferredShares
|
484767 | shares |
CY2024Q3 | us-gaap |
Treasury Stock Value
TreasuryStockValue
|
44170 | usd |
CY2024Q3 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
46873940565 | shares |
CY2024Q3 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
46873940565 | shares |
CY2024Q3 | PHIG |
Common Stock To Be Issued
CommonStockToBeIssued
|
2007790 | usd |
CY2024Q3 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-86591425 | usd |
CY2024Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-10611773 | usd |
CY2024Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-1076674 | usd |
CY2023Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-2989904 | usd |
CY2024Q3 | PHIG |
No Insider Trading Flag
NoInsiderTradingFlag
|
true |