Company: PHIL
Filing Date: 2025-02-19
Form Type: 10-Q
Source: 0001493152-25-007556
Chunk: 63

Company: PHI GROUP INC
Filing Date: 2025-02-19
Form: 10-Q
Item: Part I, Item 8
Chunk 63
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HOLDER’S EQUITY

As
of December 31, 2024, the total number of authorized capital stock of the Company consisted of 60 billion shares of voting Common Stock
with a par value of $0.001 per share and 500,000,000 shares of Preferred Stock with a par value of $0.001 per share. The rights and terms
associated with the Preferred Stock will be determined by the Board of Directors of the Company.

TREASURY
STOCK

The
balance of treasury stock as of December 31, 2024 was 484,767 shares valued at $44,170 according to cost method.

COMMON
STOCK

During
the quarter ended December 31, 2024, the Company did not issue any Common Stock.

As
of December 31, 2024, there were 46,873,940,565 shares of the Company’s common stock issued and outstanding.

    F-11

PREFERRED
STOCK

CLASS
B SERIES I PREFERRED STOCK

As
of December 31, 2024, there were 600,000 shares of Class B Series Preferred Stock issued and outstanding.

NOTE
10 – STOCK-BASED COMPENSATION PLAN

On
September 9, 2021, the Company adopted the PHI Group 2021 Employee Benefit Plan and set aside 2,600,000,000 shares of its common stock
to provide a means of non-cash remuneration to selected eligible employees and independent contractors (“Eligible Participants”)
of the Company and its subsidiaries. On September 17, 2021, the Company filed Form S-8 Registration Statement under the Securities Act
of 1933 with the Securities and Exchange Commission to register these shares for the above-mentioned plan. As of December 31, 2024 the
Company has issued a total of 2,407,196,586 shares for consulting services and salaries under the PHI Group 2021 Employee Benefit Plan.

NOTE
11– RELATED PARTY TRANSACTIONS

The
Company recognized a total of $52,500 in salaries for the President and the Secretary & Treasurer of the Company during the quarter
ended December 31, 2024.

Henry
Fahman, Chairman and Chief Executive Officer, and Steve Truong, Director of the Company from time to time lend money to the Company.
These loans are without interest and payable upon demand.

As
of December 31, 2024, the Company