Company: PHIL
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001641172-25-011742
Chunk: 24

Company: PHI GROUP INC
Filing Date: 2025-05-20
Form: 10-Q
Item: Part I, Item 1
Chunk 24
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able earnest money as mentioned
above, the Investor/Provider will provide or cause to be provided fifty million U.S. dollars (USD 50,000,000) for SSC to resume the implementation
of its building plan. Additional tranches of funds will be released to SSC at regular intervals as needed to ensure uninterrupted construction
progress. Both Parties shall determine and stipulate the terms and conditions for the Investment Commitment in writing prior to the release
of funds to SSC. The Investor/Provider intends to use a portion of the financing commitments from certain international institutional
and ultra-high net worth investors for investment in SSC.

6.
BUSINESS COOPERATION AGREEMENT WITH SSE GLOBAL JSC

In
May 2023, the Company signed a Business Cooperation Agreement with SSE Group JSC, a Vietnamese joint stock company, to jointly cooperate
in the areas of energy efficiency and mitigation of global greenhouse gas (GHG) emissions by using SSE Group’s proprietary technologies.

According
to the agreement, SSE Group JSC and Philux Global Group Inc. have incorporated “SSE Global Group Inc.,” a Wyoming corporation,
Registration ID 2023-00127, (www.sseglobalgroup.com) to apply SSE Group’s breakthrough technologies for the energy industry,
especially to improve fuel efficiency and mitigate global GHG emissions.

7.
BUSINESS COOPERATION AGREEMENT WITH SAPHIA ALKALI JOINT STOCK COMPANY

On
June 27, 2023, SAPHIA ALKALI JOINT STOCK COMPANY, a Vietnamese joint stock company with principal business address at No 27, Sub-alley
1, Alley 104, Viet Hung Street, Viet Hung Ward, Long Bien District, Hanoi City, Vietnam, represented by Mrs. Nguyen Phuong Dung, its
Chairperson, hereinafter referred to as “SAP,” and PHI GROUP INC. (/n/k/a PHILUX GLOBAL GROUP INC, hereinafter referred to
as “PGG,” signed a Business Cooperation Agreement and agreed to undertake the followings:

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SAP and PGG agree to jointly cooperate primarily in the areas of alkali technologies as well as any other business that may be considered
mutually beneficial.

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Specifically, SAP and PGG will initially focus on forming a company in the United States (“NewCo”) to finance, manufacture,
sell and distribute SAP’s proprietary alkali products on a worldwide basis, except Vietnam and certain territories that are handled
directly by SAP.

-
SAP will initially