PHI Group Inc (PHIL)

[mythical_phenix]

Wasted some time reading the finally filed only 3 months late 10k.

First page:

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date: As of January 12, 2022, there were 33,645,885,430 shares of the registrant’s $0.001 par value Common Stock and 600,000 shares of Class B Series I Preferred Stock issued and outstanding.

Who proofreads these things, Moe, Larry, and Curly?

This is curious:

The following entities had been engaged to support the Fund’s operations: a) Custodian Bank: Hauck & Aufhauser Privatbankiers AG, b) Administrative Registrar & Transfer Agent: Hauck & Aufhauser Alternative Investment Services S.A., c) Fund Manager: Hauck & Aufhauser Fund Services S.A., d) Fund Attorneys: DLP Law Firm SARL and VCI Legal, e) Investment Advisor: PHILUX Capital Advisors, Inc., f) Fund Auditors: E&Y Luxembourg and E&Y Vietnam, g) Fund Tax Advisor: ATOZ Tax Management, Luxembourg, h) Fund Independent Asset Valuator: Cushman & Wakefield, Vietnam. Currently the Fund is in the process of changing the custodian bank, administrative registrar & transfer agent, investment advisor and the fund manager.

Is APR and the mythical mining machine finally dead?

The Company has passed several resolutions with respect to the declaration of a twenty percent (20%) special stock dividend in American Pacific Resources, Inc. to shareholders of Common Stock of the Company. Due to the continued adverse effects of the coronavirus pandemic and other factors that have delayed the development of APR, it deems necessary for the Company to suspend the distribution of the APR special stock dividend until later on in order to allow APR additional time to reach certain milestones that would make the spin-off of APR and this special stock dividend distribution economically beneficial for the Company’s shareholders. The Company will provide an update regarding the new Record Date for this special dividend when certain conditions are met

PHIVITAE HEALTHCARE, INC.,

PHIVITAE HEALTHCARE, INC., a Wyoming corporation, is a wholly-owned subsidiary of PHI Group...PHIVITAE is in the process of entering into a strategic alliance with a Vietnam-based medical supply company.

Tough to do when Phivitae Healthare, Inc is dissolved:

Dissolution / Revocation - Tax - 2022-003830171 Date: 09/08/2022 Filing Status Changed From: Active To: Inactive - Administratively Dissolved (Tax)
Inactive Date Changed From: No Value To: 09/08/2022

Finally learned the true value of SPBV:

On May 3, 2022, Philux Capital Advisors, Inc., a subsidiary of the Company, transferred 292,050,000 shares of Sports Pouch Beverage Company, Inc., a Nevada corporation traded on the OTC Markets under the symbol “SPBV” to Chinh T. Truong for twenty-five thousand U.S. dollars as part of the agreements in connection with the Business Combination Agreement entered into on March 19, 2021 between Sports Pouch Beverage Company, Inc. and Glink Apps International, Inc., a Wyoming corporation

Who remembers this from the preeding 10Q. SPBV and MYSN valued at over $4,000,000. Lol! Total value now:

Securities available for sale Level 1 Level 2 Level 3 Total
June 30, 2022 - $546 - $385,457

Looks like we still don't know although $546 sounds reasonable. Need Moe, Larry, and Curly to explain that line.

This might be the most interesting thing of all:

Revenues:
The Company received $30,000 from consulting services for the fiscal year ended June 30, 2022 as compared to $61,000 from consulting services for the fiscal year ended June 30, 2021.

Operating Expenses:
The Company incurred total operating expenses of $16,929,928 for the fiscal year ended June 30, 2022 as compared to $913,616 for the year ended June 30, 2021. The increase of operating expenses between the two fiscal periods $16,047,312 includes an increase of $45,538 in general and administrative expenses, an increase of $112,500 in salaries and wages, an increase of $1,018,651 for the development costs of the Asia Diamond Exchange and an increase of $14,839,623 in professional services mainly associated with the issuances of the Company’s stock for the development and launching of an Asia Diamond Exchange (ADE) blockchain token.

$30K in revenue? You can make at least that working part time at KMart. $16.9 million in expenses? How is that even possible? Is this for the blockchain expertise of Johnny Park and Whankuk Je? LOL!

Billions and Billions about to flow in though:

From August 24, 2020 to November 03, 22, the Company and its subsidiaries have entered into loan financing agreements, investment management agreements, joint venture agreement, and memorandum of understanding with six international investor groups for a total six billion three hundred million U.S. dollars, as reported in various 8-K filings with the Securities and Exchange Commission. The Company expects to begin receiving capital through these sources in the near future to support its merges and acquisitions and investment programs.

How it is possible that a company with $30K in revenue and an accumulated deficit of $71+ million can borrow $6.3 billion dollars? I think the answer to that is quite obvious.
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