Company: PHIL
Filing Date: 2025-02-19
Form Type: 10-Q
Source: 0001493152-25-007556
Chunk: 82

Company: PHI GROUP INC
Filing Date: 2025-02-19
Form: 10-Q
Item: Part I, Item 8
Chunk 82
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 2023.

Total
Operating Expenses:

Total
operating expenses were $146,464 and $186,692 for the three months ended December 31, 2024, and 2023, respectively. The decrease of $40,228
in total operating expenses between the two periods was mainly due to an increase of $9,671 in professional services and decrease of
$49,899 in general and administrative expenses between the two periods.

Loss
from Operations:

Loss
from operations for the quarter ended December 31, 2024 was $146,464, as compared to loss from operations of as $181,692 for the corresponding
period ended December 31, 2023. The decrease of $35,228 in the loss from operations between the two periods was mainly due to an increase
of $9,671 in professional services and a decrease of $49,899 in general and administrative expenses between the two periods as mentioned
above.

7

Other
Income and Expenses:

The
Company had a net other expenses of 802,851 for the three months ended December 31, 2024, as compared to net other expenses of $1,530,246
for the three months ended December 31, 2023. The decrease in other expenses of $727,395 between the two periods was mainly due to a
decrease of $532,506 in other expenses and a decrease of $194,300 in interest expenses.

Net
Income (Loss):

Net
loss for the three months ended December 31, 2024 was $949,315 as compared to net loss of $1,711,938, for the same period in 2023, which
is equivalent to ($0.00) per share for the current period and ($0.00) per share for the corresponding period ended December 31, 2023,
based on the weighted average number of basic and diluted shares outstanding at the end of each corresponding period.

Six
months ended December 31, 2024 compared to the six months ended December 31, 2023

Total
Revenues:

During
the six months ended December 31, 2024, the Company primarily focused on developing the Asia Diamond Exchange in conjunction with the
International Financial Center in Vietnam, advancing the geomagnetic energy technology and devoting time and resources to concentrate
on closing the financing packages that have been signed with certain international investor groups. The Company recognizes the importance
of closing of one or more