Exhibit No. 21.1
SUBSIDIARIES OF REGISTRANT
As of March 31, 2019
| 1) | Abundant Farms, Inc. |
| A Florida corporation | |
| Percentage of ownership: 100% | |
| Business activity: Agriculture |
| 2) | American Pacific Plastics, Inc. |
| A Wyoming corporation | |
| Percentage of ownership: 100% | |
| Business activity: Plastics film manufacturing, holding company for Vinafilms JSC. |
| 3) | American Pacific Resources, Inc. |
| A Wyoming corporation | |
| Percentage of ownership: 100% | |
| Business activity: Mining & natural resources. |
| 4) | American Saigon Palace Group, Inc. |
| A Wyoming corporation | |
| Percentage of ownership: 100% | |
| Business activity: Food and beverage, hospitality. |
| 5) | ComMatrix, Inc. |
| A Wyoming corporation | |
| Percentage of ownership: 100% | |
| Business activity: Telecommunication, holding company for Gridline Communications, Inc. (inactive) |
| 6) | Constructii SA Group, Inc. |
| A Delaware corporation | |
| Percentage of ownership: 100% | |
| Holding company for acquisition of a Romanian construction company (inactive, to be dissolved). |
| 7) | PHI Capital Holdings, Inc. |
| A Wyoming corporation | |
| Percentage of ownership: 100% | |
| Business activity: Consulting and M&A advisory services. |
| 8) | PHI Luxembourg Development S.A. |
| A Luxembourg company | |
| Percentage of ownership: 100% | |
| Business activity: Mother holding company for Luxembourg bank funds. |
| 9) | PHI VIETNAM INVESTMENT AND DEVELOPMENT LTD. |
| A Vietnamese company | |
| Percentage of ownership: 100% | |
| Business activity: Investment and Consulting Services. |
| 10) | PHI EZ Water Tech, Inc. |
| A Wyoming corporation | |
| Percentage of ownership: 75% | |
| Business activity: Water treatment technology (inactive). |
| 11) | PHIVITAE Corporation |
| A Wyoming corporation | |
| Percentage of ownership: 100% | |
| Business activity: inactive, to be dissolved. |