Company: PHIL
Filing Date: 2025-02-19
Form Type: 10-Q
Source: 0001493152-25-007556
Chunk: 21

Company: PHI GROUP INC
Filing Date: 2025-02-19
Form: 10-Q
Item: Part I, Item 1
Chunk 21
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each
a “Drawdown Notice”) which shall specify the amount of registered shares of common stock of the Company (the “Put Shares”)
that the Company elects to sell to the Investor, from time to time, up to an aggregate amount equal to $10,000,000.

The
pricing period of each put will be the 7 trading days immediately following receipt of the Put Shares (the “Pricing Period”).

The
purchase price per share shall mean 90% of the average of the 2 lowest volume-weighted average prices of the Common Stock during the
Pricing Period, less clearing fees, brokerage fees, other legal, and transfer agent fees incurred in the deposit (the “Net Purchase
Amount”). The Investor shall pay the Net Purchase Amount to the Company by wire for each Drawdown Notice within 2 business days
of the end of the Pricing Period.

    F-12

The
put amount in each Drawdown Notice shall not be less than $50,000 and shall not exceed the lesser of (i) $500,000 or (ii) 200% of the
average dollar trading volume of the Common Stock during the 7 trading days immediately before the Put Date, subject to Beneficial Ownership
cap

There
shall be a 7 trading day period between the receipt of the Put Shares and the next put.

The
Company intends to file an S-1 Registration Statement with the Securities and Exchange Commission for this Equity Line of Credit as part
of its alternative financing plan.

2.
AGREEMENT WITH TECCO GROUP FOR PARTICIPATION IN PHILUX INFRASTRUCTURE FUND COMPARTMENT OF PHILUX GLOBAL FUNDS

On
August 10, 2020, Tecco Group, a Vietnamese company, signed an agreement with PHI Luxembourg Development SA, a subsidiary of the Company,
to participate in the proposed infrastructure fund compartment of PHILUX Global Funds SCA, SICAV-RAIF. According to the agreement, Tecco
Group will contribute $2,000,000 for 49% ownership of the general partners’ portion of said infrastructure fund compartment. As
of December 31, 2024, Tecco Group has paid a total of $156,366.25 towards the total agreed amount.

3.
INVESTMENT AND FINANCING AGREEMENTS

As
of December 31, 2024, the Company and its subsidiaries have eight active agreements for loan financing, asset management,
partnership, joint