Company: PHIL
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001641172-25-011742
Chunk: 75

Company: PHI GROUP INC
Filing Date: 2025-05-20
Form: 10-Q
Item: Part I, Item 8
Chunk 75
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, we received a total of GBP 578,010,000 (equivalent to US $750,000,000) from a ultra-high-net-worth investor group in
a holding account at Satvie Bank, 1001 Bishopsgate, City of London, EC2N 24AG, United Kingdom. This investment amount was from an Asset
Management Agreement previously reported in Form 8-K’s filed with the Securities and Exchange Commission on February 21, 2024 (https://www.sec.gov/ix?doc=/Archives/edgar/data/704172/000149315224007343/form8-k.htm)
and December 30, 2024 (https://www.sec.gov/ix?doc=/Archives/edgar/data/704172/000149315224052411/form8-k.htm), respectively. As
of the date of this report these funds have not been released for investment purposes according to the Asset Management Agreement.

13. INVESTMENT
FUNDING PARTNERSHIP AGREEMENT

On March 25,
2025, the Company signed an Investment Funding Partnership Agreement with Atlantic Trust Finance Ltd., a United Kingdom company, (the
“Provider”), to manage a US$ 49,400,000 investment amount for a period of ten years and may be renewed by mutual consent for
up to fifteen years. The Company shall remit 40% of the annual profit to the Provider and shall also be entitled to an annual management
fee of 5% of the investment funds under management and an additional 2% for expenses during the course of the investment preparation.

14.
COMMON STOCK TO BE ISSUED

As
of March 31, 2025, the Company has recorded $2,404,306 for restricted Common Stock to be issued to a number of current shareholders
of the Company in connection with stock purchase agreements under Rule 144. 

NOTE
13- GOING CONCERN UNCERTAINTY

As shown in the accompanying consolidated financial
statements, the Company has accumulated deficit of $88,020,027 and total stockholders’ deficit of $11,644,943 as of March 31, 2025.
For the quarter ended March 31, 2025, the Company incurred a net loss of $ 480,682 as compared to a net loss of $1,690,405 during the
same period ended March 31, 2024. These factors as well as the uncertain conditions that the Company faces