Exhibit No. 21.1
SUBSIDIARIES OF REGISTRANT
As of December 31, 2016
| 1) | PHI Capital Holdings, Inc. |
| Percentage of ownership: 100% | |
| Business activity: Consulting and M&A advisory services. | |
| 2) | American Pacific Resources, Inc. |
| Percentage of ownership: 100% | |
| Business activity: Mining & Natural Resources. (inactive) | |
| 3) | Abundant Farms, Inc. |
| Percentage of ownership: 100% | |
| Business activity: Farming (startup) |
