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

Company: PHI GROUP INC
Filing Date: 2025-02-19
Form: 10-Q
Item: Part I, Item 1
Chunk 19
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,278,398 which includes $3,357,966 contingency liabilities due
to amendments and extensions of short-term notes, $43,750 in PPP loan, and $105,482 in Merchant Cash Advance loans. The interest rates
on these notes vary.

B.
CONVERTIBLE PROMISSORY NOTES OUTSTANDING AS OF DECEMBER 31, 2024

As
of December 31, 2024, the Company had a net balance of $5,000 in convertible promissory notes with an institutional investor.

NOTE
8 – BASIC AND DILUTED NET PROFIT (LOSS) PER SHARE

Net
loss per share is calculated in accordance with SFAS No. 128, “Earnings per Share”. Under the provision of SFAS No. 128,
basic net loss per share is computed by dividing the net loss for the period by the weighted-average number of common shares outstanding
for the period. Diluted EPS is based on the weighted-average number of shares of common stock outstanding for the period and common stock
equivalents outstanding at the end of the period. Basic and diluted weighted average numbers of shares for the period ended December
31, 2024 were the same since the inclusion of Common stock equivalents is anti-dilutive.

NOTE
9 – STOCKHOLDER’S EQUITY

As
of December 31, 2024, the total number of authorized capital stock of the Company consisted of 60 billion shares of voting Common Stock
with a par value of $0.001 per share and 500,000,000 shares of Preferred Stock with a par value of $0.001 per share. The rights and terms
associated with the Preferred Stock will be determined by the Board of Directors of the Company.

TREASURY
STOCK

The
balance of treasury stock as of December 31, 2024 was 484,767 shares valued at $44,170 according to cost method.

COMMON
STOCK

During
the quarter ended December 31, 2024, the Company did not issue any Common Stock.

As
of December 31, 2024, there were 46,873,940,565 shares of the Company’s common stock issued and outstanding.

    F-11

PREFERRED
STOCK

CLASS
B SERIES I PREFERRED STOCK

As
of December 31, 2024, there were 600,000 shares of Class B Series Preferred Stock issued and outstanding.

NOTE
10 – STOCK