Company: PHIL
Filing Date: 2025-02-19
Form Type: 10-Q
Source: 0001493152-25-007556
Chunk: 60

Company: PHI GROUP INC
Filing Date: 2025-02-19
Form: 10-Q
Item: Part I, Item 8
Chunk 60
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 pronouncements and the possible impact
they may have on the Company’s financial statements. In most cases, management has determined that the implementation of these
pronouncements would not have a material impact on the financial statements taken as a whole.

    F-9

NOTE
3 – PROPERTIES AND EQUIPMENT

The
Company did not have any properties or equipment as of December 31, 2024.

NOTE
4 – OTHER ASSETS

Other
Assets as of December 31, 2024 and June 30, 2024 comprise of:

SCHEDULE OF OTHER ASSETS

    December 31, 2024  
    June 30, 2024 
  
    Investment in PHILUX Global Funds, SCA, SICAV-RAIF 
    $31,200  
    $32,220 
  
    Total Other Assets 
    $31,200  
    $32,220 

For
the investments in PHILUX Global Funds, as of December 31, 2021, PHI Luxembourg Development SA, a Luxembourg corporation and wholly-owned
subsidiary of PHI Group, Inc. held twenty-eight ordinary shares of PHILUX Global Funds valued at EUR 28,000, PHI Luxembourg Holding SA,
a Luxembourg corporation 100% owned by PHI Group, Inc. as the ultimate beneficiary owner (UBO), held one participating share of PHILUX
Global Funds valued at EUR 1,000, and PHILUX Global General Partner SA, a Luxembourg corporation 100% owned by PHI Group, Inc. as the
ultimate beneficiary owner (UBO), held one management share of PHILUX Global Funds valued at EUR 1,000. The total holdings in PHILUX
Global Funds were equivalent to $31,200 as of December 31, 2024 based on the prevalent exchange rate at that time.

The
Company has treated all development costs of the Asia Diamond Exchange as expenses which will be capitalized as common shares in Asia
Diamond Exchange, Inc., a Wyoming corporation.

NOTE
5 – CURRENT LIABILITIES

Current
Liabilities of the Company consist of the followings as of December 31, 2024 and June 30, 2024.

SCHEDULE OF CURRENT LIABILITIES

    Current Liabilities 
    December 31, 2024  
    June 30, 2024 

    Accounts payable 
     628,120  
     626,730 
  
    Sub-f