PHI GROUP INC SEC 10-Q Report

PHI GROUP INC, a company primarily engaged in mergers and acquisitions, advancing Philux Global Funds, and developing the Asia Diamond Exchange in Vietnam, has released its Form 10-Q report for the quarter ended December 31, 2024. The report provides a comprehensive overview of the company's financial performance and operational activities during the period. Financial Highlights Total Revenues: $0 million. The Company did not generate any revenue during the quarters ended December 31, 2024, and December 31, 2023.Total Operating Expenses: $146,464. The decrease of $40,228 in total operating expenses between the two periods was mainly due to an increase of $9,671 in professional services and a decrease of $49,899 in general and administrative expenses.Loss from Operations: $146,464. Loss from operations for the quarter ended December 31, 2024, was $146,464, as compared to a loss from operations of $181,692 for the corresponding period ended December 31, 2023.Net Income (Loss): ($949,315). Net loss for the three months ended December 31, 2024, was $949,315 as compared to a net loss of $1,711,938 for the same period in 2023.Net Loss Per Share: ($0.00). Net loss per share for the three months ended December 31, 2024, was equivalent to ($0.00) per share, based on the weighted average number of basic and diluted shares outstanding. Business Highlights Business Focus: The company is primarily engaged in mergers and acquisitions, advancing Philux Global Funds, SCA, SICAV-RAIF, and developing the Asia Diamond Exchange in Vietnam. It also provides corporate finance services through its subsidiary Philux Capital Advisors, Inc.Operational Strategy: PHI Group's strategy includes identifying and acquiring valuable resources, participating in businesses with large market potential, and building investments that offer exit points for investors through capital appreciation or spin-offs.Subsidiary Operations: The company operates several subsidiaries, including Asia Diamond Exchange, Inc., Philux Global Funds SCA, SICAV-RAIF, Philux Capital Advisors, Inc., and Philux Global Energy, Inc., among others, to support its diverse business activities.Asia Diamond Exchange Development: The company is working with Vietnamese authorities to develop the Asia Diamond Exchange, which will include lab-grown, rough, and polished diamonds, along with a multi-commodities logistics center.International Financial Center: Plans are underway to establish an International Financial Center in Vietnam, leveraging expertise from the successful setup of the Dubai Diamond Exchange.Philux Global Funds SCA, SICAV-RAIF: This fund is structured as a Reserved Alternative Investment Fund in Luxembourg, intended to contain sub-fund compartments for investing in real estate, infrastructure, renewable energy, and other sectors.Philux Global Energy Initiatives: The company is advancing geomagnetic energy technology through a comprehensive cooperation agreement with a Vietnamese inventor, focusing on energy generation and storage without traditional energy storage systems.Future Outlook: The company aims to close pending financing agreements, advance the Philux Global Select Growth Fund, develop the Asia Diamond Exchange and International Financial Center, and commercialize geomagnetic energy technologies. It also plans to continue its merger and acquisition program and provide advisory services through its subsidiaries.SEC Filing: PHI GROUP INC [ PHIL ] - 10-Q - Feb. 19, 2025