Company: PHIL
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001641172-25-011742
Chunk: 63

Company: PHI GROUP INC
Filing Date: 2025-05-20
Form: 10-Q
Item: Part I, Item 8
Chunk 63
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 obligations 
     1,624,775  
     1,624,775 
  
    Accrued expenses 
     2,077,518  
     1,795,874 
  
    Short-term loans and notes payable 
     6,102,306  
     4,460,981 
  
    Convertible Promissory Notes 
     5,000  
     5,000 
  
    Due to Officers 
     286,618  
     278,812 
  
    Advances from customers 
     948,964  
     952,650 
  
    Total Current Liabilities 
     11,677,465  
     9,744,823 

ACCRUED
EXPENSES: Accrued expenses as of March 31, 2025 totaling $2,077,518 consist of $1,395,595 in accrued salaries and payroll liabilities,
$669,040 in accrued interest from notes and loans, and $2,883 from American Express.

    F-10

NOTES
PAYABLE: As of March 31, 2025, Notes Payable consist of $6,102,306 in short-term loans and notes payable which includes $3,451,050
contingency liabilities due to amendments and extensions of short-term notes and reserves for claims from certain noteholders,
$43,750 in PPP loan, and $105,482 in Merchant Cash Advance loans.

CONVERTIBLE
NOTES: As of March 31, 2025, there was a balance of convertible note in the amount of $5,000 with an institutional investor.

ADVANCES
FROM CUSTOMERS AND DEPOSITS FROM CLIENTS:

As of March 31, 2025, the Company recorded $948,964
for Advances from Customers for consulting fees previously received from a client plus mutually agreed accrued interest totaling $819,038
and $129,926 of retainer deposits from two other clients for project financing agreements.

SUB-FUND
OBILGATIONS: The Company has recorded a total of $1,624,775 from four partners/investors towards the expenses for setting up sub-funds
under the master PHILUX Global Funds. These amounts are currently booked as liabilities until these sub-funds are set up and activated,
at which time the sub-fund participants will receive their respective percentages of the general partners’ portion of ownership
in the relevant sub-funds based