Company: PHIL
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001641172-25-011742
Chunk: 56

Company: PHI GROUP INC
Filing Date: 2025-05-20
Form: 10-Q
Item: Part I, Item 8
Chunk 56
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 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: www.philuxge.com, 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.

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.

No
assurances can be made that the Company will be successful in achieving its plans.

BUSINESS
STRATEGY

PHI’s
strategy is to:

1.
Identify, build, acquire, commit and deploy valuable resources with distinctive competitive advantages;

2.
Identify, evaluate, acquire, participate and compete in attractive businesses that have large, growing market potential;

3.
Build an attractive investment that includes points of exit for investors through capital appreciation or spin-offs of business units.

NOTE
2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

PRINCIPLES
OF CONSOLIDATION

The
consolidated financial statements include the accounts of PHI Group, Inc. (a/k/a Philux Global Group, Inc.) and its active wholly owned
subsidiaries: (1) Philux Capital Advisors, Inc., a Wyoming corporation (100%), (2) Philux Global Advisors, Inc., a Wyoming corporation
(100%), (3) PHI Luxembourg Development S.A., a Luxembourg corporation (100%), (4) Philux Global Funds SCA, SICAV-RAIF, a Luxembourg Reserved
Alternative Investment Fund (100%), (5) Philux Global General Partners SA, a Luxembourg corporation (100%), and (6) PHI Luxembourg Holding
SA, a Luxembourg corporation (100%), collectively referred to as the “Company.” All significant inter-company transactions
have been eliminated in consolidation.

INTERIM
CONSOLIDATED FINANCIAL STATEMENTS

The
accompanying unaudited interim