Company: PHIL
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001641172-25-011742
Chunk: 71

Company: PHI GROUP INC
Filing Date: 2025-05-20
Form: 10-Q
Item: Part I, Item 8
Chunk 71
---
 GROUP INC, hereinafter referred to
as “PGG,” signed a Business Cooperation Agreement and agreed to undertake the followings:

-
SAP and PGG agree to jointly cooperate primarily in the areas of alkali technologies as well as any other business that may be considered
mutually beneficial.

-
Specifically, SAP and PGG will initially focus on forming a company in the United States (“NewCo”) to finance, manufacture,
sell and distribute SAP’s proprietary alkali products on a worldwide basis, except Vietnam and certain territories that are handled
directly by SAP.

-
SAP will initially make available and transfer certain technologies as may be needed to NewCo to serve the needs of this Business Cooperation
Agreement.

-
The relationship established between SAP and PGG by this Agreement shall be exclusive with respect to the areas of SAP’s proprietary
technologies outside of Vietnam.

-
The Parties shall agree on the roles, responsibilities and benefits of each party in connection with NewCo or other particular business
undertakings, which shall be detailed in a separate definitive agreement.

-
The parties herein shall determine the capital structure of NewCo in a separate subsequent addendum to this Business Cooperation Agreement.

    F-15

8.
Agreement for Comprehensive Cooperation WITH a Vietnamese RENEWABLE ENERGY Inventor

On
December 8, 2023, a Vietnamese engineer (the “Inventor”), and the Company entered into an Agreement for Comprehensive Cooperation
Agreement and agreed to undertake the followings:

a)
Applying the Inventor’s proprietary inventions that are specifically designed to exploit the earth’s available geomagnetic
energy to generate energy and store energy without using an energy storage system (ESS).

b)
Producing and providing generators using the earth’s available geomagnetic energy.

c)
Producing engines (spaceships, airplanes, ships, cars, trains, motorcycles, etc.) powered by the earth’s available geomagnetic
energy.

d)
Developing additional multiple new technologies.

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, as the operating company to commercialize energy-related products based on the
proprietary researches and developments of the Inventor.

The
Inventor and his associates have filed a Provisional Patent Application with the U.S. Patent and Trademark Office (USPTO) and will assign
and transfer