Company: PHIL
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001641172-25-011742
Chunk: 86

Company: PHI GROUP INC
Filing Date: 2025-05-20
Form: 10-Q
Item: Part I, Item 8
Chunk 86
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 of our results of operations for the three-month and nine-month periods ended March 31, 2025 and
2024, our financial condition on March 31, 2025 and factors that we believe could affect our future financial condition and results of
operations. Historical results may not be indicative of future performance.

This
discussion and analysis should be read in conjunction with our consolidated financial statements and the notes thereto included elsewhere
in this Form 10-Q. Our consolidated financial statements are prepared in accordance with Generally Accepted Accounting Principles in
the United States (“GAAP”). All references to dollar amounts in this section are in United States dollars.

Three
months ended March 31, 2025 compared to the three months ended March 31, 2024

Total
Revenues:

During
the quarter ended March 31, 2025, the Company earnestly endeavored to close some of the asset management agreements and financing agreements
that had been signed with certain international investor groups, while continuing to further the development of the Asia Diamond Exchange
in conjunction with the International Financial Center in Vietnam, and collaborating with the inventor partner to prepare for the commercialization
of the geomagnetic energy technology. The Company recognizes the importance of closing of one or more of these financing agreements as
a prerequisite for executing its overall business plan.  The Company did not receive revenue from
consulting and advisory services during the quarter ended March 31, 2025 or the quarter ended March 31, 2024.

Total
Operating Expenses:

Total operating expenses were $99,662 and $220,960
for the three months ended March 31, 2025, and 2024, respectively. The decrease of $121,298 in total operating expenses between the two
periods was mainly due to a decrease of $137,777 in professional services and an increase of $16,478 in general and administrative expenses
between the two periods.

Loss
from Operations:

Loss from operations for the quarter ended March
31, 2025 was $99,662, as compared to loss from operations of $220,960 for the corresponding period ended March 31, 2024. The decrease
of $121,298 in the loss from operations between the two periods was mainly due to a decrease of $137,777 in professional services and
an increase of $16,478 in general and administrative expenses between the two periods as mentioned above.

Other
Income and Expenses:

The Company had a net other expenses of $