Company: PHIL
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001641172-25-011742
Chunk: 17

Company: PHI GROUP INC
Filing Date: 2025-05-20
Form: 10-Q
Item: Part I, Item 1
Chunk 17
---
  
     952,650 
  
    Total Current Liabilities 
     11,677,465  
     9,744,823 

ACCRUED
EXPENSES: Accrued expenses as of March 31, 2025 totaling $2,077,518 consist of $1,395,595 in accrued salaries and payroll liabilities,
$669,040 in accrued interest from notes and loans, and $2,883 from American Express.

    F-10

NOTES
PAYABLE: As of March 31, 2025, Notes Payable consist of $6,102,306 in short-term loans and notes payable which includes $3,451,050
contingency liabilities due to amendments and extensions of short-term notes and reserves for claims from certain noteholders,
$43,750 in PPP loan, and $105,482 in Merchant Cash Advance loans.

CONVERTIBLE
NOTES: As of March 31, 2025, there was a balance of convertible note in the amount of $5,000 with an institutional investor.

ADVANCES
FROM CUSTOMERS AND DEPOSITS FROM CLIENTS:

As of March 31, 2025, the Company recorded $948,964
for Advances from Customers for consulting fees previously received from a client plus mutually agreed accrued interest totaling $819,038
and $129,926 of retainer deposits from two other clients for project financing agreements.

SUB-FUND
OBILGATIONS: The Company has recorded a total of $1,624,775 from four partners/investors towards the expenses for setting up sub-funds
under the master PHILUX Global Funds. These amounts are currently booked as liabilities until these sub-funds are set up and activated,
at which time the sub-fund participants will receive their respective percentages of the general partners’ portion of ownership
in the relevant sub-funds based on their actual total contributions.

NOTE
6 – DUE TO OFFICERS

Due
to officer, represents loans and advances made by officers and directors of the Company and its subsidiaries, unsecured and due on demand.
As of March 31, 2025 and June 30, 2024, the balances were $286,618 and $278,812, respectively.

 SCHEDULE OF COMPONENTS OF DUE TO OFFICERS AND DIRECTORS

    Officers/Directors 
    March
    31, 2025  
    June
    30