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

Company: PHI GROUP INC
Filing Date: 2025-05-20
Form: 10-Q
Item: Part I, Item 1
Chunk 20
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 3)
     
    Steve
    Truong
     
    Director
     
    $
    8,500

    Loan

    F-12

NOTE
12 – CONTRACTS AND COMMITMENTS

1.
EQUITY LINE OF CREDIT WITH INSTITUTIONAL INVESTOR

On
March 01, 2022, the Company entered into an equity purchase agreement with Mast Hill Fund LP (“The Investor”) as follows:

The
Investor has agreed to provide an equity line of up to $10,000,000 to the Company, pursuant to which the Company has the right, but not
the obligation, during the 24 months after an effective registration of the underlying shares, to issue a notice to the Investor (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.

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 only 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 when the company’s stock price reaches an appropriate level.

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

On
August 10,