Company: PHIL
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001641172-25-011742
Chunk: 40

Company: PHI GROUP INC
Filing Date: 2025-05-20
Form: 10-Q
Item: Part I, Item 1
Chunk 40
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 in this section are in United States dollars.

Three
months ended March 31, 2025 compared to the three months ended March 31, 2024

Total
Revenues:

During
the quarter ended March 31, 2025, the Company earnestly endeavored to close some of the asset management agreements and financing agreements
that had been signed with certain international investor groups, while continuing to further the development of the Asia Diamond Exchange
in conjunction with the International Financial Center in Vietnam, and collaborating with the inventor partner to prepare for the commercialization
of the geomagnetic energy technology. The Company recognizes the importance of closing of one or more of these financing agreements as
a prerequisite for executing its overall business plan.  The Company did not receive revenue from
consulting and advisory services during the quarter ended March 31, 2025 or the quarter ended March 31, 2024.

Total
Operating Expenses:

Total operating expenses were $99,662 and $220,960
for the three months ended March 31, 2025, and 2024, respectively. The decrease of $121,298 in total operating expenses between the two
periods was mainly due to a decrease of $137,777 in professional services and an increase of $16,478 in general and administrative expenses
between the two periods.

Loss
from Operations:

Loss from operations for the quarter ended March
31, 2025 was $99,662, as compared to loss from operations of $220,960 for the corresponding period ended March 31, 2024. The decrease
of $121,298 in the loss from operations between the two periods was mainly due to a decrease of $137,777 in professional services and
an increase of $16,478 in general and administrative expenses between the two periods as mentioned above.

Other
Income and Expenses:

The Company had a net other expenses of $381,020
for the three months ended March 31, 2025, as compared to net other expenses of $1,469,446 for the three months ended March 31, 2024.
The decrease in other expenses of $1,088,426 between the two periods was mainly due to a decrease of $35,183 in interest expense and
a decrease in other expenses of $1,053,243 between the two periods.

Net
Income (Loss):

Net
loss for the three months ended March 31, 2025 was $480,682, as compared