Philux Global (PHIL) 10-K/A11 Jul 142012 FY Annual report (amended)Financial data

Company Profile

Document_and_Entity_Informatio

Document and Entity Information (USD $)	12 Months Ended
Document and Entity Information (USD $)	Jun. 30, 2012	Jul. 10, 2014	Dec. 31, 2011
Document And Entity Information	'	'	'
Entity Registrant Name	'PHI GROUP INC	'	'
Entity Central Index Key	'0000704172	'	'
Document Type	'10-K	'	'
Document Period End Date	30-Jun-12	'	'
Amendment Flag	'true	'	'
Amendment Description	'Amendment No 1	'	'
Current Fiscal Year End Date	'--06-30	'	'
Entity Voluntary Filers	'No	'	'
Entity Well Known Seasoned Issuer	'No	'	'
Entity Current Reporting Status	'No	'	'
Entity Filer Category	'Smaller Reporting Company	'	'
Entity Public Float	'	'	$0
Entity Common Stock, Shares Outstanding	'	12,412,114	'
Document Fiscal Period Focus	'FY	'	'
Document Fiscal Year Focus	'2012	'	'

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Jun. 30, 2012	Jun. 30, 2011
Current assets:	'	'
Cash and cash equivalents	$0	$61,270
Accounts Receivable	'	6,000
Marketable securities	356,172	174,650
Loans receivable from related parties	8,832	200
Other current assets	'	780
Total current assets	365,003	242,900
Property and Equipment	'	'
Property and equipment, net	515	1,771
Construction in progress	'	1,153,632
Other assets:	'	'
Other assets	66,955	65,096
Deposits	'	184,762
Receivable from Discontinued Operations	172,203	'
Total assets	604,676	1,648,162
Current liabilities:	'	'
Accounts payable and accrued expenses	4,004,284	4,551,136
Short-term notes payable	2,125,456	2,432,456
Convertible promissory note	'	40,539
Derivative liability	'	97,049
Due to officers	1,489,072	1,317,949
Payable to related party	'	235,000
Due to preferred stockholders	215,000	215,000
Advances form customers	563,219	293,219
Other current liabilities	'	30,000
Liabilities from Discontinued Operations	2,234,327	'
Total current liabilities	10,631,358	9,212,348
Stockholders' equity:	'	'
Preferred stock , $.001 par value, 100,000,000 shares authorized; none issued and outstanding	'	'
Common stock, $.001 par value; 300,000,000 shares authorized; 189,820 issued and 180,641 outstanding on June 30, 2012 and 199,652 issued and 141,921 on June 30, 2011 outstanding, respectively, adjusted for 1 for 1,500 reverse split effective March 15, 2012.	233,719	212,882
Shares to be issued	57,000	57,000
Treasury stock, $.001 par value, 887 post-split shares of common stock, respectively	-1	-1,330
Additional paid-in-capital	26,756,379	20,987,941
Acc. Other comprehensive loss	-554,619	'
Accumulated deficit	-35,814,955	-28,177,788
Total	-9,322,477	-6,921,296
Non-Controlling interest	-704,205	-642,889
Total stockholders' deficit	-10,026,682	-7,564,185
Total liabilities and stockholders' deficit	$604,676	$1,648,162

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Jun. 30, 2012	Jun. 30, 2011
Statement of Financial Position [Abstract]	'	'
Preferred Stock, par value	$0.00	$0.00
Preferred Stock, shares authorized	100,000,000	100,000,000
Preferred Stock, shares issued	'	'
Preferred Stock, shares outstanding	'	'
Common Stock, par value	$0.00	$0.00
Common Stock, shares authorized	300,000,000	300,000,000
Common Stock, shares issued	189,820	199,652
Common Stock, shares outstanding	180,641	141,921
Treasury Stock, par value	$0.00	$0.00
Treasury Stock, post-split shares common stock	887	887

Combined_Consolidated_Statemen

Combined Consolidated Statements of Operations and Comprehensive Income (Loss) (USD $)	12 Months Ended
	Jun. 30, 2012	Jun. 30, 2011
Net revenues	'	'
Consulting and advisory fee income	$570,000	$409,317
Operating expenses:	'	'
Depreciation and amortization	1,256	2,745
Salaries and wages	212,835	296,605
Professional services, including non-cash compensation	45,419	341,565
General and administrative	221,999	342,750
Total operating expenses	481,509	983,665
Income (loss) from operations	88,491	-574,348
Other income and (expenses)	'	'
Interest expense	-609,596	-557,173
Loss on sale of market securities	-28,000	'
Loss on debt settlement - net	-32,808	-402,107
Loss on Discontinued Operation (Net of tax)	-4,612,330	'
Change in derivative liability	-23,032	-12,775
Other income	44,058	225,270
Net other expenses	-5,261,708	-746,785
Loss before minority interest	-5,173,217	-1,321,133
Non-controlling interest	19,614	142,835
Net Loss	-5,153,603	-1,178,297
Other Comprehensive Loss	'	'
Unrealized loss on marketable securities	-554,619	'
Comprehensive Loss	($5,708,222)	($1,178,298)
Net loss per share:	'	'
Basic	($33.80)	($8.73)
Diluted	($33.80)	($8.73)
Weighted average number of shares outstanding:	'	'
Basic	152,462	134,896
Diluted	152,462	134,896

Statement_of_Stockholders_Equi

Statement of Stockholders' Equity (USD $)	Common Stock [Member]	Treasury Stock [Member]	Additional Paid-In Capital [Member]	Prepaid Consulting Fees [Member]	Shares To Be Issued [Member]	Acc Other Comprehensive Income/(loss) [Member]	Accumulated Deficit [Member]	Total
Balance at Jun. 30, 2009	$195,131	($1,330)	$19,425,448	'	$57,000	'	($23,431,052)	($3,754,804)
Balance, shares at Jun. 30, 2009	195,130,961	-1,330,440	'	'	'	'	'	'
Shares issued for payment of accrued salaries	1,750	'	85,750	'	'	'	'	87,500
Shares issued for payment of accrued salaries, shares	1,750,000	'	'	'	'	'	'	'
Shares issued for service	1,400	'	68,600	-5,000	'	'	'	65,000
Shares issued for service, shares	1,400,000	'	'	'	'	'	'	'
Recapitalization	'	'	247,937	'	'	'	'	247,937
Net income for the year	'	'	'	'	'	'	-3,568,438	-3,568,438
Balance at Jun. 30, 2010	198,281	-1,330	19,827,735	-5,000	57,000	'	-26,999,491	-6,922,806
Balance, shares at Jun. 30, 2010	198,280,961	-1,330,440	'	'	'	'	'	'
Shares issued for Conversion Note	14,601	'	514,605	'	'	'	'	529,206
Shares issued for Conversion Note, shares	14,600,395	'	'	'	'	'	'	'
Shares issued for service	'	'	'	5,000	'	'	'	5,000
Recapitalization	'	'	645,601	'	'	'	'	645,601
Net income for the year	'	'	'	'	'	'	-1,178,297	-1,178,297
Balance at Jun. 30, 2011	212,882	-1,330	20,987,941	'	57,000	'	-28,177,788	-6,921,296
Balance, shares at Jun. 30, 2011	212,881,356	-1,330,440	'	'	'	'	'	'
1-for-1,500 Reverse Split (March 15, 2012)	141,921	-887	'	'	'	'	'	'
Shares issued for Conversion Note	20,836	'	5,739,057	'	'	'	'	5,759,893
Shares issued for Conversion Note, shares	37,871	'	'	'	'	'	'	'
Shares issued for service	1	'	'	'	'	'	'	1
Shares issued for service, shares	897	'	'	'	'	'	'	'
Recapitalization	'	1,329	29,381	'	'	'	'	30,711
Tax of Loss on Discontinued Operation	'	'	'	'	'	'	-2,483,562	-2,483,562
Acc Other Comprehensive Loss	'	'	'	'	'	-554,619	'	-554,619
Net income for the year	'	'	'	'	'	'	-5,153,603	-5,153,603
Balance at Jun. 30, 2012	$233,719	($1)	$26,756,379	'	$57,000	($554,619)	($35,814,955)	($9,322,477)
Balance, shares at Jun. 30, 2012	180,689	-887	'	'	'	'	'	'

Statement_of_Stockholders_Equi1

Statement of Stockholders' Equity (Parenthetical)	Mar. 15, 2012
Statement of Stockholders' Equity [Abstract]	'
Common Stock adjusted for Reverse Split for each Share	1,500

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (USD $)	12 Months Ended
Consolidated Statements of Cash Flows (USD $)	Jun. 30, 2012	Jun. 30, 2011
Cash flows from operating activities:	'	'
Net income (loss) from operations	($5,153,603)	($1,178,297)
Adjustments to reconcile net income to net cash used in operating activities:	'	'
Depreciation	1,256	2,745
Loss on debt settlement	38,579	402,106
Loss on sale of market securities	28,000	'
Loss on deposits	12,559	'
Loss on Discontinued Operation	4,612,330	'
Amortization of Discount	31,449	70,607
Change in Fair Value of Derivative liability	23,032	12,775
Non-controlling interest	-19,614	-142,835
Issuance of shares for consulting services	'	5,000
Marketable securities received for loan conversion	'	-174,650
Marketable securities received for consulting service	-165,381	'
Changes in operating assets and liabilities:	'	'
Increase on accounts receivable	'	-6,000
(Increase) decrease in other assets and prepaid expenses	-185,399	-232,081
Increase in accounts payable and accrued expenses	-310,914	886,611
Net cash provided by (used in) operating activities	-1,087,705	-354,020
Cash flows from investing activities:	'	'
Construction in progress	1,153,632	-218,556
Net cash provide by (used in) investing activities	1,153,632	-218,556
Cash flows from financing activities:	'	'
Proceeds from sale of stock of subsidiary	4,372	217,106
Purchase of treasury shares	-16,691	-482
Proceeds on notes payable	44,500	476,000
Payments on notes payable	-173,000	-115,500
Borrowings from officer	87,612	29,470
Payments on advances from officer	-73,990	-48,050
Net cash provided by (used in) financing activities	-127,197	558,544
Net decrease in cash and cash equivalents	-61,270	-14,032
Cash and cash equivalents, beginning of period	61,270	75,299
Cash and cash equivalents, end of period	0	61,270
Supplemental disclosures of cash flow information	'	'
Cash paid for interest	$8,700	$7,200

Nature_of_Business

Nature of Business	12 Months Ended
Nature of Business	Jun. 30, 2012
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
Nature of Business	'
	NOTE 1 – NATURE OF BUSINESS

	Established in June 1982, PHI Group, Inc. (the “Company” or “PHI”) is a Nevada corporation primarily engaged in energy and natural resources. The Company acquires and consolidates energy-related assets and other natural resources, partners with international companies to develop independent power plant projects in Southeast Asia, and collaborates with certain U.S. companies to provide renewable energy solutions using wind, solar power and hydro-magnetic gravitational systems. The Company also provides corporate finance services, including merger and acquisition advisory and consulting services, and arranges capital for energy-related, natural resource and infrastructure projects through its wholly owned subsidiary PHI Capital Holdings, Inc. In addition, the Company also participates in international trade activity.

	The Company, originally incorporated under the laws of the State of Nevada in June 1982 under the name of JR Consulting, Inc., was initially engaged in mergers and acquisitions and had an operating subsidiary, Diva Entertainment, Inc., which operated two modeling agencies, one in New York and one in California. Following the business combination with Providential Securities, Inc., a California-based brokerage firm, in late 1999 the Company changed its name to Providential Securities, Inc. (Nevada) in January 2000. The Company then changed its name to Providential Holdings, Inc. in February 2000. In October 2000, Providential Securities withdrew its securities brokerage membership and ceased its financial services business. Subsequently, in April 2009, the Company changed its name to PHI Group, Inc. From October 2000 to October 2011, the Company was engaged in mergers and acquisitions advisory and consulting services, real estate and hospitality development, mining, oil and gas, telecommunications, technology, healthcare, private equity, and special situations. Since October 2011, the Company has begun to discontinue the operations of Providential Vietnam Ltd., Philand Ranch Limited (together with its subsidiaries Philand Corporation and Philand Vietnam Ltd.), PHI Gold Corporation (formerly PHI Mining Corporation), and PHI Energy Corporation and mainly focused on energy and natural resources, including investing in and/or developing coal assets, international trade, independent power plant projects, renewable energy, and industrial minerals. PHI Capital Holdings, Inc., the Company’s wholly owned subsidiary, continues to provide corporate and project finance services, including merger and acquisition advisory and consulting services for companies in a variety of industries and arranging funding for energy-related, natural resource and infrastructure projects. No assurances can be made that the Company will be successful in achieving its plan.

Summary_of_Significant_Account

Summary of Significant Accounting Policies

12 Months Ended

Jun. 30, 2012

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

PRINCIPLES OF CONSOLIDATION

The consolidated financial statements include the accounts of PHI Group, Inc., its wholly owned subsidiary PHI Capital Holdings, Inc., and its discontinued operations Providential Securities, Inc., PHI Energy Corporation, PHI Gold Corp, Providential Vietnam Ltd. and Philand Ranch Limited (including its 100% owned subsidiary Philand Corporation and Philand Vietnam Ltd), collectively referred to as the “Company”. All significant inter-company transactions have been eliminated in consolidation. Provimex, Inc. and Touchlink Communications are inactive.

USE OF ESTIMATES

The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

CASH AND CASH EQUIVALENTS

The Company considers all liquid investments with a maturity of three months or less from the date of purchase that are readily convertible into cash to be cash equivalents.

MARKETABLE SECURITIES

The Company’s securities are classified as available-for-sale and, as such, are carried at fair value. Securities classified as available-for-sale may be sold in response to changes in interest rates, liquidity needs, and for other purposes.

Each investment in marketable securities represents less than twenty percent (20%) of the outstanding common stock and stock equivalents of the investee, and each security is nationally quoted on the FINRA’S OTC Bulletin Board (“OTCBB”) or the OTC Markets. As such, each investment is accounted for in accordance with the provisions of ASC 320 (previously SFAS No. 115).

Unrealized holding gains and losses for available-for-sale securities are excluded from earnings and reported as a separate component of stockholder’s equity. Realized gains and losses for securities classified as available-for-sale are reported in earnings based upon the adjusted cost of the specific security sold. On June 30, 2012 and 2011 the marketable securities have been recorded at $352,172 and $174,650, respectively based upon the fair value of the marketable securities at that time.

ACCOUNTS RECEIVABLE

Management reviews the composition of accounts receivable and analyzes historical bad debts. As of June 30, 2012, the Company had balance of $0 as accounts receivable.

IMPAIRMENT OF LONG-LIVED ASSETS

Effective January 1, 2002, the Company adopted ASC 350 (Previously SFAS 144, “Accounting for the Impairment or Disposal of Long-Lived Assets”), which addresses financial accounting and reporting for the impairment or disposal of long-lived assets and supersedes SFAS No. 121, “Accounting for the Impairment of Long-Lived Assets and for Long-Lived Assets to be Disposed Of,” and the accounting and reporting provisions of APB Opinion No. 30, “Reporting the Results of Operations for a Disposal of a Segment of a Business.” The Company periodically evaluates the carrying value of long-lived assets to be held and used in accordance with ASC 350. ASC 350 requires impairment losses to be recorded on long-lived assets used in operations when indicators of impairment are present and the undiscounted cash flows estimated to be generated by those assets are less than the assets’ carrying amounts. In that event, a loss is recognized based on the amount by which the carrying amount exceeds the fair market value of the long-lived assets. Loss on long-lived assets to be disposed of is determined in a similar manner, except that fair market values are reduced for the cost of disposal.

PROPERTY AND EQUIPMENT

Property and equipment are stated at cost. Maintenance and repair costs are charged to expense as incurred; costs of major additions and betterments are capitalized. When property and equipment are sold or otherwise disposed of, the cost and related accumulated depreciation are eliminated from the accounts and any resulting gain or loss is reflected in income. Depreciation is computed using the straight-line method over the estimated useful lives of the assets, ranging from three to ten years.

DEPRECIATION AND AMORTIZATION

The cost of property and equipment is depreciated over the estimated useful lives of the related assets. Depreciation and amortization of fixed assets are computed on a straight-line basis.

NET EARNINGS PER SHARE

The Company adopted the provisions of ASC 260 (previously SFAS 128). ASC 260 eliminates the presentation of primary and fully diluted earnings per share (“EPS”) and requires presentation of basic and diluted EPS. Basic EPS is computed by dividing income (loss) available to common stockholders by the weighted-average number of common shares outstanding for the period. Diluted EPS is based on the weighted-average number of shares of common stock outstanding for the period and common stock equivalents outstanding at the end of the period.

The Company has the following dilutive stock warrants as of June 30, 2012 and 2011.

2012

2011

Warrants

250,000

Total

250,000

The net earnings per share is computed as follows:

2012

2011

Basic and diluted net loss per share:

Numerator:

Net income (loss)

(5,153,603

)

(1,178,297

)

Denominator:

Basic weighted average number of common shares outstanding (adjusted for 1:1,500 reverse split)

152,462

134,896

Basic net income (loss) per share

33.8

8.73

Diluted weighted average number of common shares outstanding (adjusted for 1:1,500 reverse split)

152,462

134,896

Diluted net income (loss) per share

33.8

8.73

STOCK-BASED COMPENSATION

Effective July 1, 2006, the Company adopted ASC 718-10-25 (previously SFAS 123R) and accordingly has adopted the modified prospective application method. Under this method, ASC 718-10-25 is applied to new awards and to awards modified, repurchased, or cancelled after the effective date. Additionally, compensation cost for the portion of awards that are outstanding as of the date of adoption for which the requisite service has not been rendered (such as unvested options) is recognized over a period of time as the remaining requisite services are rendered.

FAIR VALUE OF FINANCIAL INSTRUMENTS

Effective July 1, 2008, the Company adopted ASC 820 (previously SFAS 157), Fair Value Measurements and adopted this Statement for the assets and liabilities shown in the table below. ASC 820 clarifies the definition of fair value, prescribes methods for measuring fair value, establishes a fair value hierarchy based on the inputs used to measure fair value, and expands disclosures about the use of fair value measurements. The adoption of ASC 820 did not have a material impact on our fair value measurements. ASC 820 permits the Company to defer the recognition and measurement of the nonfinancial assets and nonfinancial liabilities until January 1, 2010. At June 30, 2011, the Company did not have any nonfinancial assets or nonfinancial liabilities that are recognized or disclosed at fair value. ASC 820 requires that financial assets and liabilities that are reported at fair value be categorized as one of the following types of investments based upon the methodology for determining fair value.

Level 1 - Quoted prices in active markets for identical assets or liabilities.

Level 2 - Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

Level 3 - Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. The Company utilizes various approaches to measure fair value for available-for-sale securities.

Assets measured at fair value on a recurring basis are summarized below. The Company has no financial liabilities measured at fair value on a recurring basis.

Available-for-sale securities

Level 1

Level 2

Level 3

Total

30-Jun-12

181,522

174,650

356,172

30-Jun-11

174,650

The Company uses various approaches to measure fair value of available-for-sale securities, while applying the three-level valuation hierarchy for disclosures, specified in ASC 820. Our Level 1 securities were measured using the quoted prices in active markets for identical assets and liabilities.

The company’s policy regarding the transfers in and/or out of Level 3 depends on the trading activity of the security, the volatility of the security, and other observable units which clearly represents the fair value of the security. If a level 3 security can be measured using a more fairly represented fair value, we will transfer these securities either into Level 1 or Level 2, depending on the type of inputs.

REVENUE RECOGNITION

The Company’s revenue recognition policies are in compliance with ASC 13 (previously Staff accounting bulletin (SAB) 104). The Company recognizes consulting and advisory fee revenues when the transaction is completed and the service fees are earned. Expenses are recognized in the period in which the corresponding liability is incurred. Payments received before all of the relevant criteria for revenue recognition are recorded as unearned revenue.

ADVERTISING

The Company expenses advertising costs as incurred. Advertising costs for the years ended June 30, 2012 and 2011 were $ 1,865 and $4,346 respectively.

COMPREHENSIVE INCOME (LOSS)

ASC 220-10-45 (previously SFAS 130, Reporting Comprehensive Income), establishes standards for reporting and display of comprehensive income, its components and accumulated balances. Comprehensive income is defined to include all changes in equity, except those resulting from investments by owners and distributions to owners. Among other disclosures, SFAS No. 130 requires that all items that are required to be recognized under current accounting standards as components of comprehensive income be reported in a financial statement that is displayed with the same prominence as other financial statements. As of June 30, 2012 the Company presented Other Comprehensive Loss in the amount of $554,619 on the accompanying Consolidated Balance Sheets as a result of the mark-to-market of the marketable securities held by the Company at that time. As of June 30, 2011, no comprehensive income or loss was presented on the accompanying consolidated balance sheets.

INCOME TAXES

The Company accounts for income taxes in accordance with ASC 740 (previously SFAS No. 109, “Accounting for Income Taxes”). Deferred taxes are provided on the liability method whereby deferred tax assets are recognized for deductible temporary differences, and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax bases. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment.

REPORTING OF SEGMENTS

ASC 280 (previously Statement of Financial Accounting Standards No. 131, Disclosures about Segments of an Enterprise and Related Information), which supersedes Statement of Financial Accounting Standards No. 14, Financial Reporting for Segments of a Business Enterprise, establishes standards for the way that public enterprises report information about operating segments in annual financial statements and requires reporting of selected information about operating segments in interim financial statements regarding products and services, geographic areas and major customers. ASC 280 defines operating segments as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing performance. The Company operated in one segment that generated revenues during the years ended June 30, 2012 and 2011.

RISKS AND UNCERTAINTIES

In the normal course of business, the Company is subject to certain risks and uncertainties. The Company provides its service and receives marketable securities upon execution of transactions. Consequently, the value of the securities received from customers can be affected by economic fluctuations and each customer’s business growth. The actual realized value of these securities could be significantly different than recorded value.

RECENT ACCOUNTING PRONOUNCEMENTS

Update No. 2011-11— Balance Sheet (Topic 210): Disclosures about Offsetting Assets and Liabilities

Effective for annual reporting periods beginning on or after January 1, 2013, and interim periods within those annual periods. An entity should provide the disclosures required by those amendments retrospectively for all comparative periods presented.

Update No. 2011-10—Property, Plant, and Equipment (Topic 360): Derecognition of in Substance Real Estate—a Scope Clarification (a consensus of the FASB Emerging Issues Task Force)

The amendments in this Update should be applied on a prospective basis to deconsolidation events occurring after the effective date. Prior periods should not be adjusted even if the reporting entity has continuing involvement with previously derecognized in substance real estate entities. For public entities, the amendments in this Update are effective for fiscal years, and interim periods within those years, beginning on or after June 15, 2012. For nonpublic entities, the amendments are effective for fiscal years ending after December 15, 2013, and interim and annual periods thereafter. Early adoption is permitted.

Update No. 2011-06—Other Expenses (Topic 720): Fees Paid to

Effective for calendar years beginning after December 31, 2013, when the fee initially becomes effective

the Federal Government by Health Insurers (a consensus of the FASB Emerging Issues Task Force)

The Company has either evaluated or is currently evaluating the implications, if any, of each of these pronouncements and the possible impact they may have on the Company’s financial statements. In most cases, management has determined that the pronouncement has either limited or no application to the Company and, in all cases, implementation would not have a material impact on the financial statements taken as a whole.

Loans_Receivable_from_Related_

Loans Receivable from Related Parties	12 Months Ended
Loans Receivable from Related Parties	Jun. 30, 2012
Brokers and Dealers [Abstract]	'
Loans Receivable from Related Parties	'
	NOTE 3 – LOANS RECEIVABLE FROM RELATED PARTIES

	Loans receivable from related parties consist of the following at June 30, 2012 and 2011:

		2012		2011
	Loan to Catalyst Resource Group		3,932		2,020
	Loan to Catthai Corp.		2,700		100
	Loan to Provimex		2,000
	Loan to Vietnam Mining Corporation		200
	Total	$	8,832	$	2,120

Other_Current_Assets

Other Current Assets	12 Months Ended
	Jun. 30, 2012
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]	'
Other Current Assets	'
	NOTE 4 – OTHER CURRENT ASSETS

	The Other Assets comprise of the following as of June 30, 2012 and 2011:

		2012		2011
	Advance for share purchase		-		780
	Total Other Current Assets		-	$	780

Marketable_Equity_Securities_A

Marketable Equity Securities Available For Sale	12 Months Ended
Marketable Equity Securities Available For Sale	Jun. 30, 2012
Investments, Debt and Equity Securities [Abstract]	'
Marketable Equity Securities Available For Sale	'
	NOTE 5 – MARKETABLE EQUITY SECURITIES AVAILABLE FOR SALE

	The Company’s marketable securities are classified as available-for-sale and, as such, are carried at fair value. All of the securities are comprised of shares of common stock of the investee. Securities classified as available-for-sale may be sold in response to changes in interest rates, liquidity needs, and for other purposes.

	Each investment in marketable securities represents less than twenty percent (20%) of the outstanding common stock and stock equivalents of the investee, and each security is nationally quoted on the National Association of Securities Dealers OTC Bulletin Board (“OTCBB”) or the Pink Sheets. As such, each investment is accounted for in accordance with the provisions of SFAS No. 115.

	Marketable securities classified as available for sale consisted of 1,746,500 shares of Vietnam Mining Corporation, a public company traded on the OTC Markets (Trading symbol: VNMC) that were earned for consulting services rendered. The fair value of shares received was $174,650 as of September 30, 2011.

	As of September 30, 2011, we recorded $600,000 from 4,000,000 shares of common stock of Agent 155 Media Corp, a fully reporting company traded on the OTCQB at that time (Symbol: AGMC), for consulting services to be rendered to Agent155 Media Corp by PHI Group, Inc. We used the closing price of $0.15 per share as of September 30, 2011 for recording purpose.

	As of December 31, 2011, we recorded $120,000 from 4,000,000 shares of common stock of Agent 155 Media Corporation, a fully reporting company traded on the OTCQB (Symbol: AGMC) at that time, for consulting services to be rendered to Agent155 Media Corporation by PHI Group, Inc. We used the closing price of $0.03 per share as of December 31, 2011 for recording purpose. There is no realized gain or loss on this transaction.

	During the quarter ended March 31, 2012, we converted $46,141.25 of promissory note in exchange for 3,076,073 shares of common stock of Agent155 Media Corporation, a fully reporting company traded on the OTCQB at that time (Symbol: AGMC). We used the closing price of $0.015 per share as of March 31, 2012. During the same quarter, we sold 2,000,000 shares of common stock of Agent155 Media Corporation to a third party for the purchased price of $0.001 per share and recorded a loss of $28,000.

	As of June 30, 2012, the Company had 9,076,083 shares of Agent155 Media Corporation and 1,746,500 shares of VNMC with a total fair market value of $356,172.

Property_and_Equipment

Property and Equipment	12 Months Ended
Property and Equipment	Jun. 30, 2012
Property and Equipment	'
Property and Equipment	'
	NOTE 6 – PROPERTY AND EQUIPMENT

	Property and equipment at June 30, 2012 and 2011 consists of the following:

		2012			2011
	Equipment	$	84,853		$	84,853
	Furniture and Fixtures		69,953			69,953
	Automobiles		58,000			58,000
	Subtotal		206,806			206,806
	Less Accumulated Depreciation		(206,290	)		(205,034	)
	Total net fixed assets	$	515		$	1,771

	Depreciation expenses were $1,256 and $2,745 for the fiscal years ended June 30, 2012 and 2011, respectively.

Other_Assets

Other Assets	12 Months Ended
Other Assets	Jun. 30, 2012
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]	'
Other Assets	'
	NOTE 7 – OTHER ASSETS

	During the fiscal year ended June 30, 2011, Philand Vietnam Ltd., a wholly owned subsidiary of the PhiLand Ranch Ltd., made a security deposit in the amount of $172,203 to the Chu Lai Open Economic Zone Authority, Quang Nam Province, Vietnam as a guarantee for the Pointe91 development project at Bien Rang, Chu Lai, Nui Thanh District, Quang Nam Province, Vietnam. This amount was later transferred to Ky Ha Chu Lai Investment and Development LLC (“KHCLIDC”) as a deposit for the clearing of land and resettlement of residents in the Pointe91 project area. As a result of the discontinuance of the Pointe91 development project, the Company expects to receive the refund of the deposit amount, less any expenses incurred in connection with the land clearing and resettlement activity. Philand Vietnam Ltd. received VND 1.5 billion back from KHCLIDC on or about January 21, 2014, of which $50,000 was transferred to PHI Group, Inc. on January 23, 2014.

	During the year ended June 30, 2011, the Company signed a consulting agreement to assist Agent155 Media Corp., a Delaware corporation, with respect to its corporate restructuring and business combination with Freshwater Technologies, Inc., a Nevada corporation. As part of the restructuring requirements, the Company has made payment to Manning Elliot LLP in the amount of $24,476 on behalf of Freshwater Technologies, Inc. and other loan amounts to Agent155 Media Corp. As of June 30, 2012, Agent155 Media Corp. still owed the Company $66,955.

Discontinued_Operations

Discontinued Operations	12 Months Ended
	Jun. 30, 2012
Discontinued Operations and Disposal Groups [Abstract]	'
Discontinued Operations	'
	NOTE 8 – DISCONTINUED OPERATIONS

	The Company decided to recognize the businesses of PHI Gold Corp. (formerly PHI Mining Corporation), Providential Vietnam Ltd, PHI Energy Corp., and Philand Ranch Ltd, a United Kingdom corporation, together with its wholly-owned subsidiaries Philand Corporation (USA), Philand Ranch Ltd (Singapore) and Philand Vietnam Ltd. as discontinued operations as of June 30, 2012 for practical business and accounting purposes. The Company has recorded a total of $2,234,327 for the liabilities and potential liability contingencies and written off all non-performing assets associated with these discontinued operations in the accompanying consolidated financial statements as of June 30, 2012.

	Discontinued Operations
	Loss from operations of discontinued subsidiaries	$	7,095,892
	Income tax benefit		35	%
	Net Loss	$	4,631,330

Accounts_Payable_and_Accrued_E

Accounts Payable and Accrued Expenses	12 Months Ended
Accounts Payable and Accrued Expenses	Jun. 30, 2012
Payables and Accruals [Abstract]	'
Accounts Payable and Accrued Expenses	'
	NOTE 9 – ACCOUNTS PAYABLE AND ACCRUED EXPENSES

	The accounts payable and accrued expenses at June 30, 2012 and 2011 consist of the following:

		2012		2011
	Accounts payable & Accrued Expenses	$	572,883	$	1,386,164
	Accrued salaries and payroll taxes		351,402		429,544
	Accrued interest		2,509,944		2,165,264
	Accrued legal		396,294		396,294
	Accrued consulting fees		173,870		173,890
	Total	$	4,004,284	$	4,451,136

Due_to_Officer

Due to Officer	12 Months Ended
Due to Officer	Jun. 30, 2012
Due To Officer	'
Due to Officer	'
	NOTE 10 – DUE TO OFFICER

	Due to officer, represents advances made by officers of the Company and its subsidiaries, which are non-interest bearing, except for $100,000 as described below, unsecured and due on demand. As of June 30, 2012 and 2011, the balances were $1,489,072 and $1,317,949, respectively.

	Officers	2012		2011
	Henry Fahman		1,187,572		1,029,449
	Tam Bui		276,500		263,500
	Frank N Hawkins		12,500		12,500
	Lawrence Olson		12,500		12,500
	Total		1,489,072		1,317,949

	As of June 30, 2012, the Company has a short term note payable amounting $100,000 with interest bearing $3,000 per month payable to member of the Board of Directors.

Loans_and_Promissory_Notes

Loans and Promissory Notes	12 Months Ended
	Jun. 30, 2012
Debt Disclosure [Abstract]	'
Loans and Promissory Notes	'
	NOTE 11 – LOANS AND PROMISSORY NOTES

	SHORT TERM NOTES PAYABLE:

	As of June 30, 2012 and June 30, 2011, the Company had short term notes payable amounting to $2,125,456, and $2,432,456 with accrued interest of $2,509,944 and $1,872,479 respectively. These notes bear interest rates ranging from 6% to 36% per annum. $1,744,982 of these short term notes are past due and $258,976 are due on demand.

	Some of the notes payable are secured by assets of the Company as summarized below:

	Note Balance:		Secured by:

	$	115,000	400,000 Catalyst Resource Group, Inc. shares
			500,000 Catthai Corporation shares

	$	550,000	500,000 Catthai Corporation shares

	$	150,000	1,500,000 PHI Gold Corp shares

	$	100,000	1,500,000 PHI Gold Corp shares

	CONVERTIBLE PROMISSORY NOTE. The last Convertible Promissory Note issued to Asher Enterprises, Inc. (“Asher”) on June 17, 2011 was $42,500, with interest of 8% per annum, due and payable March 21, 2012. This note is convertible at the election of Asher from time to time after the issuance date, at 39% discount to the average of the lowest closing bid prices for the Company’s common stock during the ten trading day period ending on the latest complete trading prior to the conversion date. In the event of default, the amount of principal and interest not paid when due bear interest at the rate of 22% per annum and the note becomes immediately due and payable. Should that occur, the Company is liable to pay Asher 150% of the then outstanding principal and interest. The note agreements contain covenants requiring Asher’s written consent for certain activities not in existence or not committed to by the Company on the issue date of the note. Outstanding note principal and interest amounts accrued thereon can be converted in whole, or in part, at any time by Asher after the issuance date into an equivalent of the Company’s common stock determined by the discount rate mentioned in the note.

	Additionally, the note contains a reset provision to the exercise price and conversion price if the Company issues equity or other derivatives at a price less than the exercise price set forth in such warrants and note. This ratchet provision results in a derivative liability in our financial statements.

	On July 25, 2011, $10,000 principal of the convertible note issued on January 11, 2011 was converted into an equivalent of 1,550 shares of post-split common stock of the Company (2,325,581pre-split shares).

	On August 8, 2011, $12,000 principal of the convertible note issued on January 11, 2011 was converted into an equivalent of 1,633 shares of post-split common stock of the Company (2,448,980 pre-split shares).

	On August 30, 2011, $15,000 principal of the convertible note issued on January 11, 2011 was converted into an equivalent of 2,941 shares of post-split common stock of the Company (4,411,765 pre-split shares).

	On October 21, 2011, $8,000 principal of the convertible note issued on January 11, 2011 was converted into an equivalent of 2,667 shares of post-split common stock of the Company (4,000,000 pre-split shares).

	On November 22, 2011, $10,000 principal of the convertible note issued on January 11, 2011 was converted into an equivalent of 5,083 shares of post-split common stock of the Company (7,625,000 pre-split shares).

	On January 03, 2012, $10,000 principal of the convertible note issued on June 17, 2011 was converted into an equivalent of 4,444 shares of post-split common stock of the Company (6,666,667 pre-split shares).

	On January 11, 2012, $11,000 principal of the convertible note issued on June 17, 2011 was converted into an equivalent of 5,641 shares of post-split common stock of the Company (8,461,538 pre-split shares).

	On March 1, 2012, $12,000 principal of the convertible note issued on June 17, 2011 was converted into an equivalent of 5,741 shares of post-split common stock of the Company (8,571,429 pre-split shares).

	On April 23, 2012, Asher Enterprises, Inc. converted $7,000 principal amount of the convertible note dated June 17, 2011 into 8,197 shares of post-split common stock of the Company at the price of $0.854 per share. As of June 30, 2012, the total outstanding balance amount due Asher Enterprises, Inc. was $3,750.

	DUE TO PREFERRED STOCKHOLDERS:

	The Company classified $215,000 of preferred stock subscribed as a current liability payable to holders of preferred stock in a previously discontinued subsidiary of the Company due to non compliance of preferred shares subscription agreement in the year 2000. The Company has made an offer for these preferred stock holders to receive shares of common stock in the Company in exchange for the preferred shares but so far only a few preferred shareholders have accepted the offer.

	The interest expenses payable to holders of preferred stock of $310,055 and $284,255 have been included in accrued interest included in account payable and accrued expenses on the balance sheets as of June 30, 2012 and June 30, 2011, respectively.

	ADVANCES FROM CUSTOMERS (PREVIOUSLY CLASSIFIED AS UNEARNED REVENUE)

	As of June 30, 2012, the Company decided to reclassify the Unearned Revenues in the amount of $563,219 as Advances from Customers because the consulting services performed by the Company for the related customers have not been completely finished as of the date of this report due to the customers’ inability to provide GAAP-compliant audited financial statements in order to file a registration statement with the Securities and Exchange

Litigation

Litigation	12 Months Ended
Litigation	Jun. 30, 2012
Commitments and Contingencies Disclosure [Abstract]	'
Litigation	'
	NOTE 12 – LITIGATION

	LEGAL PROCEEDING SETTLED AND UNPAID AS OF JUNE 30, 2012:

	QUANG VAN CAO AND NHAN THI NGUYEN CAO VS. PROVIDENTIAL SECURITIES, INC. ET AL.

	This case was originally submitted to Orange County Superior Court, CA on June 25, 1997, Case No. 781121, and subsequently moved to NASD Dispute resolution for arbitration. On or about August 24, 2000, the Company’s legal counsel negotiated with the Claimant’s counsel and unilaterally reached a settlement that had not been approved by the Company. While the Company was in the process of re-negotiating the terms of said settlement, the Claimants filed a request for arbitration hearing before the National Association of Securities Dealers on October 4, 2000, Case No. 99-03160. Thereafter, the Claimants filed a complaint with the Orange County Superior Court, CA on October 31, 2000, Case No. 00CC13067 for alleged breach of contract for damages in the sum of $75,000 plus pre-judgment interest, costs incurred in connection with the complaint, and other relief. Without admitting or denying any allegations, the Company reached a settlement agreement with the Claimants whereby the Company would pay the Claimants a total of $62,500 plus $4,500 in administrative costs. As the date of this report, the Company has paid $2,500 and is subject to an entry of judgment for $79,000. In May 2011, the Claimants filed an application for and renewal of judgment for a total of $140,490.78. This amount has been accrued in the accompanying consolidated financial statements.

	LEGAL PROCEEDING PENDING AS OF JUNE 30, 2012:

	On or about February 01, 2010, the company was notified of a suit that was filed with the Superior Court of the State of California for the County of Los Angeles on November 24, 2009 by William Davidson, an individual against Martin Doan, Henry Fahman, Benjamin Tran, HRCiti Corporation, and Providential Capital, Inc. (collectively referred to as “Defendants” - Case No. BC 426831). Plaintiff demanded an amount of not less than $140,000.00 from Defendants for promissory notes outstanding between Plaintiff and the company.

	On July 09, 2012 William Davidson and PHI Capital Holdings, Inc. (formerly Providential Capital, Inc.), a subsidiary of the Company, reached a settlement agreement with respect to whereby PHI Capital agreed to pay William Davidson a total of $200,000 over a period of nineteen months beginning September 1, 2012. As of June 30, 2013, William Davidson has elected to convert a portion of the total amount into common stock of PHI Group, Inc. in lieu of cash payment. The Company has accrued the potential liabilities associated with these promissory notes in the accompanying consolidated financial statements as of June 30, 2012. (Note 23 - Subsequent Event).

Payroll_Liabilities

Payroll Liabilities	12 Months Ended
Payroll Liabilities	Jun. 30, 2012
Payroll Liabilities	'
Payroll Liabilities	'
	NOTE 13 – PAYROLL LIABILITIES

	The payroll liabilities are accrued and recorded as accrued expenses in the consolidated balance sheet. As of June 30, 2012, the Company owed the Internal Revenue Service and State of California Employment Development Department payroll tax, penalties and interest amounting to $115,886.

Basic_and_Diluted_Net_Loss_per

Basic and Diluted Net Loss per Share	12 Months Ended
Basic and Diluted Net Loss per Share	Jun. 30, 2012
Earnings Per Share [Abstract]	'
Basic and Diluted Net Loss per Share	'
	NOTE 14 – BASIC AND DILUTED NET LOSS PER SHARE

	Net loss per share is calculated in accordance with SFAS No. 128, “Earnings per Share”. Under the provision of SFAS No. 128, basic net loss per share is computed by dividing the net loss for the period by the weighted-average number of common shares outstanding for the period. Diluted EPS is based on the weighted-average number of shares of common stock outstanding for the period and common stock equivalents outstanding at the end of the period. Basic and diluted weighted average numbers of shares for the year ended June 30, 2011 were the same since the inclusion of Common stock equivalents is anti-dilutive.

Stockholders_Equity

Stockholder's Equity	12 Months Ended
Stockholder's Equity	Jun. 30, 2012
Stockholders' Equity Note [Abstract]	'
Stockholder's Equity	'
	NOTE 15 – STOCKHOLDER’S EQUITY

	Effective April 13, 2009, the Company amended its articles of incorporation to change its par values of preferred and common stock to $0.001. The Company has 400,000,000 authorized capital stock, consisting of 300,000,000 shares of common stock with a par value of $0.001 per share and 100,000,000 shares of preferred stock with a par value of $0.001. The rights and terms associated with the Preferred Stock will be determined by the Board of Directors of the Company.

	On March 15, 2012, the Company effectuated a 1 for 1,500 reverse split of the Company’s Common Stock.

	Treasury Stock:

	The balance of treasury stock as of June 30, 2012 was 887 post-split shares (1,330,440 pre-split shares) valued at par, $1.00.

	Common Stock:

	During the year ended June 30, 2012, the Company issued 37,897 shares of its post-split Common Stock to Asher Enterprises, Inc. for the conversions of a total of $95,000 from the convertible notes.

	On April 24, 2012, the Company issued 849 shares of its post-split Common Stock to Cede & Co. for the Company’s beneficial holders with fractional shares following the reverse split.

	As of June 30, 2012, there were 182,335 post-split shares of Common Stock of the Company issued and outstanding.

	Preferred Stock: There is no preferred stock issued and outstanding.

	Shares to be issued:

	On 06/09/2006, Luberski Inc. transferred and subsequently sold 1,000,000 pre-split shares of common stock of PHI Group, Inc. belonging to an officer of the Company that had been given to Luberski, Inc. as collateral for a loan to the Company. As of June 30, 2007, the Company agreed to pay back 1,000,000 pre-split shares valued at $57,000 to the officer and recorded the transaction as shares to be issued.

	Prepaid Consulting:

	During the year ended June 30, 2010, the Company signed a consulting agreement for consulting service for one year. The Company issued 200,000 shares of common stock to the consultant valued at $10,000 based upon the market value of the stock at the date of stock issuance. The Company amortized $5,000 during the year ended June 30, 2011.

Stock_Based_Compensation_Plan

Stock Based Compensation Plan

12 Months Ended

Jun. 30, 2012

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock Based Compensation Plan

NOTE 16 – STOCK BASED COMPENSATION PLAN

Stock-Based Compensation:

On February 7, 2005, the Company adopted a stock-based compensation plan and set aside 14,000,000 shares of common stock for selected eligible participants of the Company and subsidiaries, and certain independent contractors providing certain services to the Company.

Prior to July 1, 2006, the Company measured stock compensation expense using the intrinsic value method of accounting in accordance with Accounting Principles Board (APB) Opinion No. 25, “Accounting for Stock Issued to Employees,” and related interpretations (APB No. 25). The company adopted SFAS No. 123-R effective July 1, 2006 using the modified prospective method.

Warrants:

During the quarter ended September 30, 2006, the Company issued 250,000 stock warrants with a term of 5 years and a three year vesting period. The following assumptions were used in the Black-Scholes pricing model:

Risk-free interest rate

4.64

Expected life

5.00 years

Expected volatility

198

Expected dividend yield

Following is a summary of the warrant activity for the years ended June 30, 2011 and June 30, 2012, respectively.

Warrants

Exercise Price

Aggregate

outstanding

Intrinsic Value

Outstanding, June 30, 2011

250,000

0.015

3,000

Granted

Forfeited

Exercised

Outstanding, June 30, 2012

Expired 8/30/2011

N/A

Loss_on_Settlement_of_Debts

Loss on Settlement of Debts	12 Months Ended
Loss on Settlement of Debts	Jun. 30, 2012
Debt Disclosure [Abstract]	'
Loss on Settlement of Debts	'
	NOTE 17 – LOSS ON SETTLEMENT OF DEBTS

	During the year ended June 30, 2011, the Company settled the notes payable principal and related accrued interest of Asher Enterprises, Inc. and a non-affiliate creditor totaling $99,574 by issuance of 14,600,295 shares of its common stock for the fair value of $529,206 and 50,960 shares of a subsidiary for the fair value of $15,768. As a result, the Company recorded a loss of $402,107 on settlement of debts as of June 30, 2011. For the year ended June 30, 2012, the Company recorded a loss of $32,808 on settlement of debts as a result of issuance of shares of its common stock to Asher Enterprises.

Related_Party_Transactions

Related Party Transactions	12 Months Ended
Related Party Transactions	Jun. 30, 2012
Related Party Transactions [Abstract]	'
Related Party Transactions	'
	NOTE 18 – RELATED PARTY TRANSACTIONS

	The Company accrued $210,000 in salaries for Henry Fahman (President of the Company) and Tina Phan (Secretary of the Company) during the years ended June 30, 2012 and June 30, 2011.

	All revenues of the Company were generated by PHI Group (parent company). The Company provides consulting services to its clients and revenues are considered earned when the services are deemed complete. The Company receives consideration for consulting services provided either with cash and/or common stock of the client company. No revenues were earned by any of the Company’s subsidiaries during the periods for which the income statements are presented.

	During the fiscal year ended June 30, 2012, the Company earned the following revenues:

	Revenue	Related/Unrelated	Consideration		Type of Consideration

	Consulting Fee	Unrelated Party	$	120,000		Cash
	Consulting Fees	Unrelated Party	$	450,000		Shares of Stock

	Total revenues earned		$	570,000

Income_Taxes

Income Taxes	12 Months Ended
Income Taxes	Jun. 30, 2012
Income Tax Disclosure [Abstract]	'
Income Taxes	'
	NOTE 19 – INCOME TAXES

	No provision was made for income tax since the Company has significant net operating loss carry forward. Through June 30, 2012, the Company incurred net operating losses for tax purposes of approximately $29.0 million. The net operating loss carry forward may be used to reduce taxable income through the year 2030. Net operating loss for carry forwards for the State of California is generally available to reduce taxable income through the year 2020. The availability of the Company’s net operating loss carry-forward is subject to limitation if there is a 50% or more positive change in the ownership of the Company’s stock. (See Note 2)

Contracts_and_Commitments

Contracts and Commitments	12 Months Ended
Contracts and Commitments	Jun. 30, 2012
Commitments and Contingencies Disclosure [Abstract]	'
Contracts and Commitments	'
	NOTE 20 – CONTRACTS AND COMMITMENTS

	AGREEMENT WITH HAWK ASS CIATES, INC.

	On August 11, 2006, the Company entered into an investor relations consulting agreement with Hawk Associates, Inc., a Florida corporation, to be effective September 1, 2006. According to the agreement, Hawk Associates would provide investor relations consulting services to the Company for a period of six months, after which the agreement would automatically renew monthly until notice is provided by one of the parties to the other. The Company agreed to pay Hawk Associates $4,500 per month for the investor relations consulting services and Hawk Associates would be issued warrants to purchase 250,000 common shares of the Company based on the closing price of $0.015 per share as of September 1, 2006. These warrants were valid until August 30, 2011.

	BUSINESS AND FINANCIAL CONSULTING AGREEMENT WITH MAST VENTURES, LLC

	Effective April 1, 2008, the Company entered into a business and financial consulting agreement with Mast Ventures, LLC to raise capital for a wholly owned subsidiary, Philand Corporation for 5 years. The service includes assistance identifying potential investors, developing an approach in seeking such current financing and investor relations. The Company agreed to pay 5% of the total funds raised by the consultant.

	BUSINESS AND FINANCIAL CONSULTING AGREEMENT WITH THINH HUNG INVESTMENT CO.

	Effective May 21, 2010 the Company signed an agreement with Thinh Hung Investment Co., Ltd., a Vietnam-based company, to assist Thinh Hung in identifying, locating and, possibly, acquiring various business opportunities for Thinh An Co., Ltd., a subsidiary of Thinh Hung, including but not limited to a reverse merger, a stock swap, or a business combination between Thinh An and a publicly-traded company in the U.S. In exchange for the services rendered, the Company would receive compensation in cash from Thinh Hung and common stock of the combined company. As of September 30, 2011, the Company has completed a stock purchase and investment agreement between Thinh Anh Co., Ltd. and Vietnam Foods Corporation, a Nevada corporation. However, the combined company has not filed a registration statement with the Securities and Exchange Commission to become a reporting company. For the fiscal year end 2010, the Company recognized $26,656 as only revenues from this transaction. The balance of $293,219 was booked as unearned income in the liability portion of the balance sheet.

	AGREEMENT OF PURCHASE AND SALE WITH PT. BINDAKAR

	On December 17, 2011, the Company signed an Agreement of Purchase and Sale with PT. Bindakar, an Indonesia corporation, to acquire approximately 2,670 hectares of coal concession in Marga Mulya, Kecamatan Rambah Samo, Kabupaten Rokan Hulu, Propinsi Riau, Indonesia from PT. Bindakar for a total purchase price of twenty five billion Indonesian Rupiahs. According to the agreement, PT. Bindakar will pay all and any liabilities related to the acquired assets and obtain a valid IUP Production License for the coal concession prior to the intended closing date of March 31, 2012. This Agreement may be terminated at any time prior to the closing date: (a) by mutual agreement of PT. Bindakar and the Company; (b) if there is another buyer to the acquired assets who can close the transaction sooner than the Company; (c) if PT Bindakar is unable to obtain the IUP Production License by March 30, 2012, unless both parties agree to extend such date in writing; (d) if there is a material breach by either party of any material representation, warranty, covenant or agreement set forth in the agreement that is not cured, to the reasonable satisfaction of the other party, within ten business days after notice of such breach is given by the informing party; (e) if the transaction contemplated by the Agreement of Purchase and Sale is not consummated by March 31, 2012 unless both parties agree to extend such closing date in writing; and (f) if any injunction or other order of a governmental entity of competent authority prevents the consummation of the transaction contemplated by the agreement. As of March 31, 2012, this Agreement of Purchase and Sale became null and void due to the fact that PT Bindakar was unable to obtain the IUP Production License by the date mentioned above.

	AGREEMENT WITH POWERDYNE INDUSTRIES, LLC.

	On December 5, 2011, the Company signed Business Cooperation Agreement with Powerdyne Industries, LLC, a California limited liability company, and STN Group, LLC, a California limited liability company, to introduce Powerdyne’s clean coal combustion technologies to potential power plant owners and operators in various geographical areas that are not limited by Powerdyne’s worldwide rights. This Agreement expired one year after the signing date.

	AGREEMENT WITH SAO NAM GROUP

	On December 22, 2011, the Company signed an Memorandum of Understanding for Investment in Quang Tri Power Plant Project, Central Vietnam, with Sao Nam Group, a Vietnamese company, to introduce and provide the necessary financial and technical services as well as and long-term coal supply for this project from Indonesia. As of June 30, 2012 the Company has not pursued this project further mainly due to of Sao Nam Group’s prioritized focus on shipping and port services.

	AGREEMENTS WITH HOANG NGOC JOINT STOCK COMPANY

	On December 23, 2011, the Company signed a Business Cooperation Agreement with Hoang Ngoc Joint Stock Company, a Vietnamese corporation, to cooperate with Hoang Ngoc Co. in order to obtain the investment license, provide the required technologies, arrange the investment capital for the purpose of establishing and operating one or more coal-fire power plants in An Giang Province, Vietnam. Specifically, PHI shall invest or cause to be invested the required capital in conjunction with and/or via its qualified affiliates and partners (hereinafter referred to as “Principal Investor(s)”) which have long-standing operational history in the area of thermal power; provide or cause to be provided the required technical expertise in conjunction with and/or via its qualified affiliates and partners to establish, operate, and maintain the Power Plants; and grant the Power Plants the first right of refusal on certain coal supplies that will have been owned or controlled by PHI during the lifetime of the Power Plants, subject to terms and conditions to be detailed in subsequent agreement(s).

	On March 18, 2012, Indochina Energy Ltd., a new-formed subsidiary of the Company, signed an Investment Agreement with Hoang Ngoc Joint Stock Company to jointly cooperate with Hoang Ngoc Co. in order to obtain the investment license, provide the required technologies, arrange the investment capital for the purpose of establishing and operating one or more coal-fire power plants in An Giang Province, Vietnam, in accordance with the Business Cooperation Agreement dated December 23, 2011 between the Company and Hoang Ngoc Co. This Investment Agreement was subsequently superseded and replaced by the Investment Agreement dated April 5, 2012 whereby PHI Group, Inc. covenants to continue to provide the clean coal technology and long-term coal supply to the power plants pursuant to the afore-mentioned Business Cooperation Agreement dated December 23, 2011. Following the demise of Hoang Ngoc’s founder and chairman, the Company has decided to discontinue this project.

	AGREEMENT WITH GLOBAL SUN WIND & POWER CORP.

	On April 27, 2012 the Company signed a Business Cooperation Agreement with Global Sun Wind & Power Corp., a Nevada corporation, to cooperate with GSWP to introduce GSWP technologies to the countries of Southeast Asia, (viz. Brunei, Burma, East Timor, Cambodia, Laos, Malaysia, Philippines, Singapore, Thailand and Vietnam), India, New Papua Guinea, and Australia, and to develop, finance, and implement business plans using GSWP technologies for electricity generation in these geographical areas that are not restricted by other agreements or contracts to which either GSWP or the Company is a party. Global Sun Wind & Power manufactures one of the most innovative wind turbines in the world on the market today. It also offers complete hybrid power systems incorporating wind, solar, mini-hydro, diesel backup systems and state-of-the art battery storage technologies. GSWP’s systems are highly efficient in both grid-connected and off-grid applications. This Business Cooperation Agreement expired one year after the signing date.

	CORPORATE COMBINATION AGREEMENT BETWEEN PROVIMEX, INC. AND HP.ITA JSC.

	On June 19, 2012, Provimex, Inc. changed its name to HP.ITA Corporation. On July 20, 2012, HP.ITA Corporation (“HPUS”) signed a Corporate Combination Agreement to acquire all the issued and outstanding stock of HP.ITA Joint Stock Company, a company organized and existing under the laws of Vietnam, in exchange solely for such amount of authorized but unissued common stock of HPUS that will have been equal to 95% of all the issued and outstanding shares of HPUS’s common stock immediately following the issuance of such shares. HPUS intends to complete the required financial audits and file a Form 10 registration statement with the Securities and Exchange Commission to become a separate fully reporting publicly traded company in the U.S. As of the date of this report HPUS has not filed a registration statement with the Securities and Exchange Commission.

	AGREEMENT WITH HAWK ASSOCIATES, INC.

	On August 11, 2006, the Company entered into an investor relations consulting agreement with Hawk Associates, Inc., a Florida corporation, to be effective September 1, 2006. According to the agreement, Hawk Associates will provide investor relations consulting services to the Company for a period of six months, after which the agreement will automatically renew monthly until notice is provided by one of the parties to the other. The Company agrees to pay Hawk Associates $4,500 per month for the investor relations consulting services and Hawk Associates will be issued warrants to purchase 250,000 common shares of the Company based on the closing price of $0.015 per share as of September 1, 2006. These warrants were valid until August 30, 2011.

	BUSINESS AND FINANCIAL CONSULTING AGREEMENT WITH MAST VENTURES, LLC

	Effective April 1, 2008, the Company entered into a business and financial consulting agreement with Mast Ventures, LLC to raise capital for a wholly owned subsidiary, Philand Corporation for 5 years. The service includes assistance identifying potential investors, developing an approach in seeking such current financing and investor relations. The Company agreed to pay 5% of the total funds raised by the consultant.

	BUSINESS AND FINANCIAL CONSULTING AGREEMENT WITH THINH HUNG INVESTMENT CO.

	Effective May 21, 2010 the Company signed an agreement with Thinh Hung Investment Co., Ltd., a Vietnam-based company, to assist Thinh Hung in identifying, locating and, possibly, acquiring various business opportunities for Thinh An Co., Ltd., a subsidiary of Thinh Hung, including but not limited to a reverse merger, a stock swap, or a business combination between Thinh An and a publicly-traded company in the U.S. In exchange for the services rendered, the Company would receive compensation in cash from Thinh Hung and common stock of the combined company. As of September 30, 2011, the Company has completed a stock purchase and investment agreement between Thinh An Co., Ltd. and Vietnam Foods Corporation, a Nevada corporation. However, the combined company has not been able to file a registration statement to become a fully reporting company due to Thinh An’s inability to complete the financial audits according to the U.S. Generally Accepted Accounting Principles (“GAAP”) and the requirements of the Securities and Exchange Commission. For the fiscal year end 2010, the Company recognized $26,656 as only revenues from this transaction. The balance of $293,219 was booked as unearned income in the liability portion of the balance sheet as of June 30, 2012.

Going_Concern_Uncertainty

Going Concern Uncertainty	12 Months Ended
Going Concern Uncertainty	Jun. 30, 2012
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
Going Concern Uncertainty	'
	NOTE 21 – GOING CONCERN UNCERTAINTY

	As shown in the accompanying consolidated financial statements, the Company has accumulated deficit of $35,814,955 and negative cash flow from operations amounting $1,087,705 for the period ended June 30, 2012. These factors as well as the uncertain conditions that the Company faces in its day-to-day operations with respect to cash flows create an uncertainty as to the Company’s ability to continue as a going concern. The financial statements do not include any adjustments that might be necessary should the Company be unable to continue as a going concern. Management has taken action to strengthen the Company’s working capital position and generate sufficient cash to meet its operating needs through June 30, 2012 and beyond. In the next twelve months, the Company would focus on energy and natural resources, including investing in and developing coal assets, independent power plant projects, renewable energy, and industrial minerals, as well as engaging in international trade,. PHI Capital Holdings, Inc., the Company’s wholly owned subsidiary, would also continue to provide corporate and project finance services, including merger and acquisition advisory and consulting services for companies in a variety of industries and arranging funding for energy-related, natural resource and infrastructure projects. The Company anticipated generating more revenues through its proposed mergers and acquisitions as well as other business activities mentioned herein. No assurances could be made that management would be successful in achieving its plan. The president and chairman of the Company has committed to funding the Company’s operations for the next 12 months.

NonControlling_Interests_in_Su

Non-Controlling Interests in Subsidiaries	12 Months Ended
Non-Controlling Interests in Subsidiaries	Jun. 30, 2012
Noncontrolling Interest [Abstract]	'
Non-Controlling Interests in Subsidiaries	'
	NOTE 22 – NON-CONTROLLING INTERESTS IN SUBSIDIARIES

	In the year ended June 30, 2011 the Company had non-controlling interests in a number of its subsidiaries. The balance of non-controlling interest as of June 30, 2012 and 2011 was as follows:

		Non-controlling			Non-controlling
	SUBSIDIARIES	Interest % in 2011			Interest in 2011

	Philand Ranch Ltd		43.53	%	$	(136,515	)
	PHI Gold Corp.		21.39	%		(6,323	)

	Total				$	(142,838	)

	For the year ended June 30, 2011, Philand Ranch Ltd. had a net loss of $313,610.

	For the year ended June 30, 2011, PHI Gold Corp (f/k/a PHI Mining Group) had a net loss of $29,558.

	As of the June 30, 2012, these subsidiaries were classified as Discontinued Operations.

Subsequent_Event

Subsequent Event	12 Months Ended
Subsequent Event	Jun. 30, 2012
Subsequent Events [Abstract]	'
Subsequent Event	'
	NOTE 23 – SUBSEQUENT EVENT

	SETTLEMENT OF LITIGATION: On July 09, 2012 William Davidson and PHI Capital Holdings, Inc. (formerly Providential Capital, Inc.), a subsidiary of the Company, reached a settlement agreement with respect to Case No. BC 426831 – DAVIDSON vs. DOAN et al whereby PHI Capital agreed to pay William Davidson a total of $200,000 over a period of nineteen months beginning September 1, 2012. As of June 30, 2013, William Davidson has elected to convert a portion of the total amount into common stock of PHI Group, Inc. in lieu of cash payment.

	AGREEMENT WITH GLOBAL DEVELOPMENT SYSTEMS, INC.: On or about August 11, 2012 the Company signed a Business Cooperation Agreement with Global Development Systems, Inc., a Texas corporation, to market a renewable energy electricity generation using Global Development Systems, Inc.’s proprietary hydro-magnetic gravitational renewable energy technologies. The term of this agreement is two years.

	OFFICE RENTAL AGREEMENTS: On August 11, 2012, the Company signed an agreement to rent a business center office in Las Vegas, Nevada for approximately $100 per month plus administrative expenses, if any. The one-year term of the rental agreement expired on August 31, 2013 was renewed for another twelve-month term which will expire on August 31, 2014.

	AGREEMENT WITH MAKANI POWER, INC.: On August 16, 2012 the Company signed a Business Cooperation Agreement with Makani Power, Inc., a Delaware corporation, to market a renewable energy electricity generation system using Makani Power’s proprietary airborne wind turbine technology. The term of this agreement is two years.

	RESIGNATION OF BOARD MEMBER: On November 27, 2012, Paul Nguyen submitted a Letter of Resignation to resign from the Company’s Board of Director. There was no disagreement between Mr. Nguyen and the Company regarding any of the Company’s policies and/or practices.

	TERMINATION OF BUSINESS COOPERATION AGREEMENT WITH POWERDYNE INDUSTRIES, LLC: The Business Cooperation Agreement with Powerdyne Industries, LLC expired after one year on December 4, 2012. Both parties chose not to renew this agreement.

	AGREEMENT WITH HAPPENEX HOLDING, BV: On December 22, 2012, the Company signed a Business Cooperation Agreement with Happenex Holding, BV, a Dutch corporation, to cooperate in international trade of coal and other natural resource commodities. The term of this agreement is two years.

	AGREEMENT OF PURCHASE AND SALE WITH PT. TAMBANG SEKARSA ADADAYA: On December 24, 2012, the Company signed an Agreement of Purchase and Sale with PT. Tambang Sekarsa Adadaya (“TSA”), an Indonesian limited liability company, and the holder(s) of a minimum of seventy percent (70%) of equity ownership in TSA to acquire a seventy percent (70%) equity interest in TSA in exchange for a total purchase price of ten million five hundred thousand U.S. dollars ($US 10,500,000) in cash and stock of the Company. TSA currently owns two coal concessions together with the operation and production licenses (Izin Usaha Pertambangan Operasi Produksi) and the other pertinent license(s) and permits covering a total area of 9,690 hectares, purportedly containing approximately 205 million metric tonnes of indicative coal resources, in Kecamatan Baras and Sarudu, Kabupaten Mamuju Utara, Propinsi Sulawesi Barat, Indonesia. On January 10, 2013, the Company issued 3,288,443 shares of common stock of PHI Group, Inc. as a deposit towards the total purchase price. On March 16, 2013, the Company signed an amendment with TSA and the majority shareholder of TSA to extend the closing date of this transaction to June 30, 2013. The Company engaged PT Runge Indonesia, a subsidiary of RungePincockMinarco, an Australian company, to conduct the independent technical due diligence of the TSA coal concessions and ES&P Law Firm, an Indonesia legal firm, to conduct the legal due diligence of TSA. Since the technical, legal, and financial due diligence results were incomplete by the extension date, this transaction was terminated on June 30, 2013. However, the Company and TSA have recently continued to renegotiate the terms and conditions for a revised transaction.

	AGREEMENT WITH HP.ITA JSC: On January 11, 2013 the Company signed a Business Cooperation Agreement with HP.ITA Joint Stock Company, a company organized and existing under the laws of Vietnam, to participate in international trade of base and precious metals and cross-border financial intermediation. The term of this agreement is two years.

	BUSINESS AND FINANCIAL CONSULTING AGREEMENT: On January 16, 2013, PHI Capital Holdings, Inc., a subsidiary of the Company, signed an agreement with HPI, a company organized and existing under the laws of Vietnam, to provide business and consulting services to HPI. The term of this agreement is six months and the fee compensation is one hundred thousand US dollars. As of the date of this report PHI Capital Holdings has not received any payment for this agreement.

	AGREEMENT WITH ES&P LAW FIRM: On January 25, 2013, the Company signed an agreement to retain ES&P Law Firm, an Indonesian advocate and legal consultant firm, to conduct the legal due diligence on behalf of the Company in connection with the PT Tambang Sekarsa Adadaya acquisition. The Company agreed to pay ES&P Law Firm $10,000 in cash and $50,000 in restricted common stock of PHI Group, Inc.’s for legal services related to this contemplated acquisition.

	AGREEMENT WITH COLEBRAND INTERNATIONAL LTD.: On January 28, 2013 the Company signed a Business Cooperation Agreement with Colebrand International Ltd., a company organized and existing under the laws of the United Kingdom, to cooperate in international trade and financial intermediation. The term of this agreement is two years.

	AGREEMENT WITH PT RUNGE INDONESIA: On February 6, 2013, the Company signed an agreement to retain PT Runge Indonesia, a subsidiary of RungePincockMinarco, an Australian company, to provide technical assistance to the Company in developing a potential JORC Resources and Reserves statement for open cut coal deposit in PT Tambang Sekarsa Adadaya’s concessions located in Sulawesi Barat, Indonesia. According to the agreement, PT Runge Indonesia will conduct the technical due diligence in several stages in order to provide an estimate of Resources and Reserves compliant with the JORC Code and the Company will be invoiced as work progresses.

	AGREEMENT WITH PACA: On February 25, 2013, PHI Capital Holdings, Inc., a subsidiary of the Company, signed a consulting/engagement agreement with PACA, a New York corporation, to contemplate raising capital for the purpose of financing PHI Group, Inc.’s business plan including acquisition of various energy properties and general working capital. The term of the engagement is two years. PACA will be entitled to cash success fee and equity success fee for each successful financing transaction.

	AGREEMENT OF PURCHASE AND SALE WITH PT. HARJO MAS MAKMUR: On March 16, 2013, the Company signed an Agreement of Purchase and Sale with PT. Harjo Mas Makmur, (“HMM”), an Indonesian limited liability company, and the holder(s) of a minimum of ninety-five percent (95%) of equity ownership in HMM to acquire a ninety-five percent (95%) equity interest in HMM in exchange for a total purchase price of eight million five hundred fifty thousand U.S. dollars ($US 8,550,000) in cash and stock of the Company. HMM currently owns a producing coal concession with the operation and production licenses (Izin Usaha Pertambangan Operasi Produksi) and other pertinent license(s) and permits covering a total area of 745 hectares in Kelurahan Mentawir, Kecamatan Sepaku, Kabupaten Penajam Paser Utara, Propinsi Kalimantan Timur, Indonesia, together with production, support, and transportation facilities. As of June 16, 2013 the Company decided not to pursue this transaction due to unsatisfactory due diligence results.

	TERMINATION OF BUSINESS COOPERATION AGREEMENT WITH GLOBAL SUN WIND & POWER CORP.: The Business Cooperation Agreement with Global Sun Wind& Power Corp. expired after one year on April 26, 2013. Both parties chose not to renew this agreement.

	INDONESIAN OFFICE RENTAL AGREEMENT: On May 7, 2013, the Company signed an agreement with PT Karya Central Bisnis, an Indonesian company, to rent a business center office in Pondok Indah, South Jakarta, Indonesia. The term of this agreement is one year and will expire in May 2014, unless renewed.

	AGREEMENT WITH PT RAKSASA METAL AGUNG: On June 29, 2013 the Company signed a Business Cooperation Agreement with PT. Raksasa Metal Agung (“Agung”), an Indonesian company, to co-develop gold mining projects in Central Java, Indonesia. Subsequently, Agung and the Company signed two addenda to the Business Cooperation Agreement, dated October 7, 2013 and January 29, 2014, respectively, to set forth the capital requirements for the gold mining projects and the profit sharing agreement. According to the addenda, the Company will be entitled to 60% and Agung 40% of the net profits to be derived from these operations. The second addendum also allows the Company to right to assign the responsibilities and benefits in connection with this Business Cooperation Agreement to Vietnam Mining Corporation, a Nevada corporation, or another entity. On April 29, 2014, the Company signed an Assignment Agreement to assign, convey and transfer all rights, interests and obligations in connection with said Business Cooperation Agreement and addenda to VNMC. As part of said Assignment Agreement, the Company also committed itself to arranging the required capital for VNMC to co-develop gold mining opportunities in Central Java, Indonesia with Agung. VNMC agreed to issue two million shares of its $0.001 par value Common Stock to the Company as consideration for said Assignment Agreement.

	AGREEMENT WITH PACIFIC ENERGY NETWORK: On August 16, 2013 the Company signed a Business Cooperation Agreement with Pacific Energy Network, Inc., a Washington corporation, to cooperate with each other to develop and implement conventional and renewable energy business projects in geographical areas and under terms and conditions that are mutually acceptable to both parties. The term of this agreement is two years.

	WITHDRAWAL FROM POINTE91 HOSPITALITY DEVELOPMENT PROJECT BY PHILAND RANCH LTD.

	On September 20, 2013, Philand Vietnam Limited, a wholly-owned subsidiary of Philand Corporation, submitted a request to the Chu Lai Open Economic Zone Authority (“CLOEZA”), Quang Nam Province to voluntarily withdraw from the Pointe91 hospitality development project in Tam Quang Village, Nui Thanh District, Quang Nam Province and surrender the investment license due to changed market conditions. After a meeting was held on October 28, 2013 among CLOEZA, Ky Ha Chu Lai Investment and Development Company (“KHCLIDC”) and Philand Vietnam Ltd., CLOEZA agreed to Philand Vietnam Ltd’s request for the termination of the Pointe91 development project and instructed the appropriate CLOEZA departments and KHCLIDC to return the unspent deposits to Philand Vietnam Ltd. and to assist it in the termination process. In November 2013, KHCLIDC and Philand Vietnam Ltd. signed a settlement agreement to terminate the previously executed land clearance and compensation agreement between the two companies and agreed that KHCLIDC would return VND 2,705,349,242 from the deposit amount to Philand Vietnam Ltd.

	AGREEMENT WITH VINABENNY ENERGY JOINT STOCK COMPANY: On November 12, 2013 the Company signed a Business Cooperation and Investment Agreement with Vinabenny Joint Stock Company, a Vietnamese company, to cooperate and co-develop, invest or cause to be invested in, implement and operate a 84,000 MT LPG terminal project in Can Giuoc District, Long An Province, Vietnam. Both parties will agree on the roles, responsibilities and benefits of each party in connection with the terminal project in a separate subsequent agreement. The term of this agreement is one year.

	AGREEMENT WITH NE NORD ENERGY JOINT STOCK COMPANY: On November 14, 2013 the Company signed a Business Cooperation and Investment Agreement with NE Nord Energy Joint Stock Company, a Vietnamese company, to cooperate, co-develop, invest or cause to be invested in, produce, market and sell LED lighting, solar energy, kinetic power supply system, renewable energy, and other energy-related products and services in geographical areas and markets that deem economically beneficial to both parties. The term of this agreement is two years.

	BUSINESS AND FINANCIAL CONSULTING AGREEMENT WITH ASIA GREEN CORP.: On January 17, 2014 PHI Capital Holdings, Inc., a wholly-owned subsidiary of the Company, signed a Business and Financial Consulting Agreement with Asia Green LLC (“Asia Green VN”), a Vietnamese company engaged in afforestation and reforestation projects in Vietnam, to assist Asia Green in becoming a fully reporting publicly traded company in the United States and in arranging capital for Asia Green to execute its business plan. PHI Capital Holdings is entitled to receive six hundred twenty thousand U.S. dollars as compensation for the services rendered. The term of this agreement is one year or until Asia Green has become a fully reporting public company. On April 11, 2014 Touchlink Communications, Inc., a Nevada corporation, a majority-owned subsidiary of the Company, changed its name to Asia Green Corporation and entered into a Corporate Combination Agreement with Asia Green VN to become the holding company for Asia Green VN’s agroforestry and afforestation business.

	STOCK PURCHASE AGREEMENTS FOR COMMON STOCK OF VIETNAM MINING CORPORATION: On January 24, 2014 the Company signed stock purchase agreements to acquire a total of fourteen million shares of common stock of Vietnam Mining Corporation (“VNMC”), a Nevada corporation, from two individuals for a total purchase price of $141,175.00. The closing of these transactions is scheduled to occur on the twentieth business day following VNMC’s regaining current and good standing status with the State of Nevada, OTC Markets, its transfer agent(s), Depository Trust Corporation, and other pertinent entities.

	CONSULTING ENGAGEMENT AGREEMENT WITH VIETNAM MINING CORPORATION: On January 24, 2014 PHI Capital Holdings, Inc., a wholly-owned subsidiary of the Company, signed a Consulting Engagement Agreement with Vietnam Mining Corporation (“VNMC”), a Nevada corporation, to assist VNMC to regain its current and good standing status with the pertinent regulatory agencies in the United States and certain private service providers and to seek new business opportunities for VNMC. PHI Capital Holdings is entitled to receive four million shares of restricted common stock of VNMC pursuant to the provisions of Rule 144 as compensation for the services rendered. The term of this agreement is six months.

	MEMORANDUM OF UNDERSTANDING WITH PT BUMI PERMATA INDONESIA: On January 29, 2014 the Company signed a Memorandum of Understanding (“MOU”) with PT Bumi Permata Indonesia, an Indonesian company, to co-develop a 199-hectare coal concession in Kecamatan Rantau Pandan, Kabupaten Bungo, Provinsi Jambi, Indonesia. Both parties agree to sign a definitive agreement containing representations, warranties, covenants and indemnities customary for a transaction of this time within 30 days following the date of the MOU.

	MEMORANDUM OF UNDERSTANDING WITH PT CENDRAWASIH INTERNATIONAL: On January 29, 2014 the Company signed a Memorandum of Understanding (“MOU”) with PT Cendrawasih International, an Indonesian company, to co-develop an 8,100-hectare gold concession in Kecamatan Kotannopan and Tambangan, Kabupaten Mandailing Natal, Sumatra Utara, Indonesia. The estimated amount of gold deposits in this concession area is between 400,000 to 1,000,000 ounces, subject to independent verification. Both parties agree to sign a definitive agreement containing representations, warranties, covenants and indemnities customary for a transaction of this time within 30 days following the date of the MOU. The MOU also allows the Company the right to assign the responsibilities and benefits in connection with project to Vietnam Mining Corporation (“VNMC”), a Nevada corporation, or another entity. On April 29, 2014, the Company signed an Assignment Agreement to assign, convey and transfer all rights, interests and obligations in connection with said MOU to VNMC. As part of said Assignment Agreement, the Company also committed itself to arranging the required capital for VNMC to co-develop the 8,100-hectare gold concession with PT Cendrawasih International. VNMC agreed to issue three million shares of its $0.001 par value Common Stock to the Company as consideration for said Assignment Agreement.

	MEMORANDUM OF UNDERSTANDING WITH CV SINDO MAKMUR COAL MINING: On January 31, 2014 the Company signed a Memorandum of Understanding (“MOU”) with CV Sindo Makmur Coal Mining, an Indonesian company, to co-develop and operate various coal and metal concessions in Indonesia, particularly a 100-hectare coal concession in Dondang Kecamatan Muara Jawa, Kabupaten Kutai Kartanegara, East Kalimantan, and a 119.60-hectare coal concession in Bukit Pinang Kecamatan Samarinda Ulu, Kota Samarinda, East Kalimantan, Indonesia. Both parties agree to sign a definitive agreement containing representations, warranties, covenants and indemnities customary for a transaction of this time within 30 days following the date of the MOU.

	FUNDING AGREEMENT REGARDING PETROBRAS BONDS: On February 4, 2014 the Company signed a Funding Agreement with The Dieterich Group and Robert M. Terry to provide up to $300,000, more likely increasing to $400,000 in funding, on a best efforts and non-exclusive basis to underwrite the collection efforts being undertaken on a series of 500 bonds originally issued by Petrobras, a Brazilian corporation focused on oil and gas exploration and development. These bonds are currently owned and controlled by Starboard Financial, a Nevada LLC. In the most recent valuation report, each of these bonds had a published discounted value of $750,000 including 7% interest through February 2008 and a possible published redemption face value of $2,300,000. According to the Funding Agreement, the Company will receive a total recovery of 10 times its investment in funding and 12.5% of the net proceeds, assuming the entire funding is provided by the Company and/or its investors, from the bond collections after deduction of trading or selling expenses, and expenses of the Brazilian agents once Starboard Financial and Brazilian parties have received the first $20,000,000 recovered.

	ASSISTING VIETNAM MINING CORPORATION IN ACQUISITION OF LIMESTONE CONCESSION IN INDONESIA

During the quarter ending June 30, 2014, the Company provided consulting service and assisted Vietnam Mining Corporation to acquire a 75% equity interest in PT Mega Kencana Persada (“MKPI”), an Indonesian company which owns of limestone tenement of approximate 330 hectares with an IUP Exploration License No. 540/112/K/2012 dated January 27, 2012, in Desa Sipapaga, Kecamatan Panyabungan, Kabupaten Mandailing Natal, Sumatra Utara, Republic of Indonesia. The estimated amount of limestone deposits in this concession area is between 150,000,000 metric tons, subject to independent verification The Company also committed itself to arranging the required capital for VNMC to develop this limestone concession with MKPI. VNMC agreed to issue three million shares of its $0.001 par value Common Stock to the Company as consideration for this transaction.

CONSULTING AGREEMENT WITH INDEPENDENT SENIOR GEOLOGIST

On April 30, 2014, the Company signed a consulting agreement with an independent senior geologist for certain necessary technical services that will be required in connection with the review, survey, evaluation, and recommendation of mining opportunities and mineral assets, including but not limited to gold, copper, limestone, coal, manganese, and iron ores in Indonesia and elsewhere that may be approved and adopted by the Company. The term of the agreement is two years. The Company agreed to pay the consultant one million shares of Common Stock of Vietnam Mining Corporation for the duration of the agreement.

PAYMENTS OF PAYROLL LIABILITIES

On April 29, 2014 the Chairman and President of the Company made a payment in the amount of $19,289.94 to the Employment Development Department of the State of California and another payment in the amount of $41,974.22 to the Department of Treasury, Internal Revenue Service, on behalf of the Company for accrued payroll tax liabilities.

PAYMENT TO LUBERSKI, INC.

On April 29, 2014, the Chairman and President of the Company made a payment in the amount of $322,285.00 to Luberski, Inc. to settle the outstanding balances of principal and accrued interest of the loan dated March 30, 2009 on behalf of the Company. In addition, on April 8, 2014, PHI Capital Holdings, Inc. paid 15,000 shares of Common Stock of Vietnam Mining Corporation to Luberski, Inc. and its assignee as part of the settlement agreement.

ISSUANCES OF THE COMPANY’S COMMON STOCK:

On July 19, 2012, an officer of the Company converted a total of $307,000 debts owed by the Company into 1,196,424 shares of PHI Group, Inc.’s restricted common stock.

On July 31, 2012, seven creditors of the Company converted a total of $177,333.33 debts owed by the Company into 504,865 shares of PHI Group, Inc.’s common stock.

On November 19, 2012, the Company reserved 5,673,327 shares of its common stock for the special dividend distribution.

On November 30, 2012, four creditors of the Company converted a total of $220,079.06 debts owed by the Company into 81,737 shares of PHI Group, Inc.’s common stock.

On January 10, 2013, the Company issued 3,288,443 shares of PHI Group, Inc.’s common stock valued at $5,250,000 to the majority shareholder of PT Tambang Sekarsa Adadaya as a deposit towards the total purchase price of the 70% equity interest in PT Tambang Sekarsa Adadaya.

On February 14, 2013, a creditor of the Company converted a total of $100,000 debts owed by the Company into 103,923 shares of PHI Group, Inc.’s common stock.

On February 22, 2013, the Company issued 44,763 shares of PHI Group, Inc.’s common stock valued at $50,000 to an Indonesian attorney as payment for legal services in connection with the purchase of PT Tambang Sekarsa Adadaya.

On February 22, 2013, a creditor of the Company converted a total of $33,633 debts owed by the Company into 44,844 shares of PHI Group, Inc.’s common stock.

On April 11, 2013, a creditor of the Company converted $50,000 owed by the Company into 76,540 shares of PHI Group, Inc.’s common stock.

On April 26, 2013, three creditors of the Company converted a total of $180,000 of debts owed by the Company into 304,913 shares of PHI Group, Inc.’s common stock.

On May 10, 2013, the Company issued 25,510 shares of its restricted common stock for $10,000 cash under Rule 144 for working capital.

On May 10, 2013, the Company issued 75,377 shares of its restricted common stock for $30,000 cash under Rule 144 for working capital.

On July 1, 2013, three creditors of the Company converted a total of $117,940 of debts owed by the Company into 412,569 shares of PHI Group, Inc.’s common stock.

On 2/14/2014, a creditor of the Company converted a total of $156,750 of debts owed by the Company into 337,097 shares PHI Group, Inc.’s common stock.

Restatement

Restatement	12 Months Ended
Restatement	Jun. 30, 2012
Restatement	'
Restatement	'
	NOTE 24 – RESTATEMENT

	Subsequent to the filing of the 10-K for the fiscal year ended June 30, 2012 with the Securities and Exchange Commission on June 2, 2014, the Company discovered an error in the calculation of the fair market value of marketable securities it held as of June 30, 2012. The Company also decided to reclassify Unearned Revenues as Advances from Customers as of June 30, 2012. The table below reflects the adjustments made the Company. The Company restated the financial statements for the fiscal year ended June 30, 2012 and those adjustments are and have been carried forward into the financial statements contained in this filing. The restatements are audited and the auditor reported on such financial statements before restatement.

		June 30, 2012		30-Jun-12		Audited
		As originally filed		As restated		Change

	Marketable securities	$	910,791	$	356,172	$	554,619
	Other comprehensive loss	$	0	$	554,619	$	554,619
	Unearned Revenues	$	563,219	$	0	$	563,219
	Advances from Customers	$	0	$	563,219	$	563,219