Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Jun. 30, 2019 | Mar. 09, 2021 | Dec. 31, 2019 | |
Cover [Abstract] | |||
Entity Registrant Name | PHI GROUP INC | ||
Entity Central Index Key | 0000704172 | ||
Document Type | 10-K | ||
Document Period End Date | Jun. 30, 2019 | ||
Amendment Flag | false | ||
Current Fiscal Year End Date | --06-30 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filer | No | ||
Entity's Current Reporting Status | No | ||
Entity Interactive Data Current | No | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Small Business Flag | true | ||
Entity Emerging Growth Company | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 0 | ||
Entity Common Stock, Shares Outstanding | 20,015,531,227 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2019 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Jun. 30, 2019 | Jun. 30, 2018 |
Current Assets | ||
Cash and cash equivalents | $ 71,768 | $ 13,937 |
Marketable securities | 213,485 | 1,100,483 |
Accounts receivable | 432,000 | |
Other current assets | 793,842 | 174,877 |
Total current assets | 1,079,095 | 1,721,297 |
Other assets: | ||
Investments | 5,000 | 25,005,000 |
Contract assets | 697,841 | |
Total other assets | 5,000 | 25,702,841 |
Total Assets | 1,084,095 | 27,424,139 |
Current Liabilities | ||
Accounts payable | 189,152 | 116,063 |
Sub-fund obligations | 1,266,634 | |
Accrued expenses | 2,389,111 | 392,205 |
Short-term notes payable (net) | 331,700 | 1,336,552 |
Convertible Promissory Notes (net) | 273,903 | |
Due to officers | 890,897 | 233,577 |
Advances from customers | 438,000 | |
Other current payable | 92,781 | |
Contract liabilities | 697,841 | |
Derivative liabilities | 1,307,421 | 738,814 |
Total current liabilities | 7,086,819 | 3,607,833 |
Long-Term Liabilities | ||
Accrued expenses | 1,063,481 | |
Accrued interest | 2,005,815 | |
Advances from customers | 288,219 | |
Demand promissory note | 24,048,500 | |
Liabilities from Discontinued Operations | 1,040,037 | |
Preferred stock liabilities - Discont. Operations | 215,000 | |
Total Long-Term Liabilities | 28,661,052 | |
Total Liabilities | 7,086,819 | 32,268,885 |
Stockholders' deficit: | ||
APIC - Class A Series II Preferred Stock | 304,100 | |
Common stock, $0.001 par value; 30.5 billion shares authorized; 10,009,756,808 shares issued and outstanding on 06/30/2019; 1.9 billion shares authorized and 135,893,815 shares issued and outstanding on 6/30/2018, respectively, adjusted for 1 for 1,500 reverse split effective March 15, 2012. Par value: | 10,009,757 | 382,920 |
APIC - Common Stock | 26,745,616 | 33,887,240 |
Common Stock to be cancelled | (35,500) | (33,000) |
Treasury stock: 484,767 shares as of 6/30/19 and 6/30/18, respectively - cost method. | (44,170) | (44,170) |
Common Stock of subsidiary to be issued - American Pacific Resources, Inc. | 447,500 | |
Acc. Other comprehensive gain (loss) | 751,962 | |
Accumulated deficit | (42,688,547) | (40,551,299) |
Total stockholders' deficit | (6,002,724) | (4,844,747) |
Total liabilities and stockholders' deficit | 1,084,095 | 27,424,139 |
Class A Series II Preferred Stock [Member] | ||
Stockholders' deficit: | ||
Preferred Stock, value | 10,000 | 10,000 |
Class B Series I Preferred Stock [Member] | ||
Stockholders' deficit: | ||
Preferred Stock, value | $ 120 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) | 12 Months Ended |
Jun. 30, 2019$ / sharesshares | |
Preferred stock, par value | $ / shares | $ 0.001 |
Preferred stock, shares authorized | 100,000,000 |
Common stock, par value | $ / shares | $ 0.001 |
Common stock, shares authorized | 30,500,000,000 |
Common stock, shares issued | 1,009,756,808 |
Common stock, shares outstanding | 1,009,756,808 |
Treasury stock, shares | 484,767 |
Class A Series II Preferred Stock [Member] | |
Preferred stock, shares issued | 10,000,000 |
Preferred stock, shares outstanding | 10,000,000 |
Class B Series I Preferred Stock [Member] | |
Preferred stock, shares issued | 120,000 |
Preferred stock, shares outstanding | 120,000 |
Reverse stock, split | 1 for 1,500 reverse split |
Consolidated Statement of Opera
Consolidated Statement of Operations - USD ($) | 12 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Net revenues | ||
Total revenues | $ 1,672,659 | |
Operating expenses: | ||
Salaries and wages | 247,500 | 238,165 |
Professional services, including non-cash compensation | 1,468,468 | 1,508,811 |
General and administrative | 694,245 | 155,990 |
Total operating expenses | 2,410,213 | 1,902,966 |
Income (loss) from operations | (2,410,213) | (230,307) |
Other income and expenses | ||
Interest expense | (1,897,979) | (1,352,736) |
Loss on loan/note conversion | (94,539) | |
Other income | 2,514,700 | (348,739) |
Other expenses | (1,136,169) | |
Net other income (expenses) | (519,448) | (1,796,013) |
Net income (loss) | (2,929,661) | (2,026,320) |
Other comprehensive income (loss) | ||
Accumulated other comprehensive gain (loss) | 751,962 | |
Comprehensive income (loss) | $ (2,929,661) | $ (1,274,359) |
Net loss per share: | ||
Basic | $ 0 | $ (0.03) |
Diluted | $ 0 | $ (0.03) |
Weighted average number of shares outstanding: | ||
Basic | 2,813,015,265 | 72,797,797 |
Diluted | 2,813,015,265 | 72,797,797 |
Consulting Advisory and Management Services [Member] | ||
Net revenues | ||
Total revenues | $ 1,240,659 | |
Sales [Member] | ||
Net revenues | ||
Total revenues | $ 432,000 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Cash flows from operating activities: | ||
Net income (loss) from operations | $ (2,929,661) | $ (2,026,320) |
R&D Expenses | 462,000 | |
Provision for bad debt | 432,000 | |
Write-off of financing costs | 26,477 | |
Reversal of dividends payable from preferred stock | (4,681) | |
(Increase) decrease in assets and prepaid expenses | ||
Marketable securities | 886,998 | |
Prepaid rent | 33,841 | |
Deposit for Luxembourg bank fund setup | (679,283) | |
Total (increase) decrease in assets and prepaid expenses | 241,556 | (1,769,506) |
Increase (decrease) in accounts payable and accrued expenses | ||
Accounts payable | 73,089 | |
Sub-fund obligations | 1,266,634 | |
Accrued expenses | (65,416) | |
Notes payable | (178,322) | |
Loans from Directors/Officers | 375,000 | |
Advances from customers | 57,000 | |
Total increase (decrease) in accounts payable and accrued expenses | 1,527,985 | 1,142,345 |
Net cash provided by (used in) operating activities | (244,324) | (2,653,481) |
Cash flows from investing activities: | ||
Investment in mineral assets - Oregon mining claims | (25,000,000) | |
Investment in Aquarius Power, Inc. | (5,000) | |
Net cash provided by (used in) investing activities | (25,005,000) | |
Cash flows from financing activities: | ||
Loans from Directors/Officers | 298,420 | 2,563,453 |
Common Stock (net) | 3,734 | 2,563,453 |
Preferred Stock | 314,100 | |
Common Stock of Subsidiary | 447,500 | |
Accum. other comprehensive income (loss) | 598,488 | |
Retained Earnings | 774,775 | |
Treasury stock | (3,262) | |
Short-term and long-term liabilities | (1,109,503) | |
Demand promissory note | 24,048,500 | |
Net cash provided by (used in) financing activities | 302,154 | 27,634,050 |
Net decrease in cash and cash equivalents | 57,831 | (3,609,981) |
Cash and cash equivalents, beginning of period | 13,937 | 38,369 |
Cash and cash equivalents, end of period | $ 71,768 | $ 13,937 |
Statement of Stockholders' Equi
Statement of Stockholders' Equity (Deficit) - USD ($) | Common Stock [Member] | Preferred Stock [Member] | Treasury Stock [Member] | Additional Paid-in Capital [Member] | Other Comprehensive Income/(Loss) [Member] | Accumulated (Deficit) [Member] | Common Stock to be Cancelled [Member] | Subsidiary Stock to be Issued [Member] | Total | ||
Balance at Jun. 30, 2017 | $ 249,645 | $ (40,908) | $ 31,424,061 | $ 153,474 | $ (38,524,979) | $ (7,513,481) | |||||
Balance, shares at Jun. 30, 2017 | 16,109,036 | (321,569) | |||||||||
Power Up Lending Group - shares issued for conversion of note (7/5/17) | $ 741 | 9,544 | 10,285 | ||||||||
Power Up Lending Group - shares issued for conversion of note (7/5/17), shares | 740,741 | ||||||||||
Auctus Fund, LLC - shares issued for conversion of note (7/11/17) | $ 800 | 4,352 | 5,152 | ||||||||
Auctus Fund, LLC - shares issued for conversion of note (7/11/17), shares | 800,000 | ||||||||||
Power Up Lending Group - shares issued for conversion of note (7/17/17) | $ 880 | 7,262 | 8,142 | ||||||||
Power Up Lending Group - shares issued for conversion of note (7/17/17) | 880,000 | ||||||||||
Power Up Lending Group - shares issued for conversion of note (7/21/17) | $ 1,020 | 7,118 | 8,138 | ||||||||
Power Up Lending Group - shares issued for conversion of note (7/21/17), shares | 1,019,872 | ||||||||||
Henry Fahman - shares issued for conversion of loans (7/25/17) | $ 20,000 | 420,000 | 440,000 | ||||||||
Henry Fahman - shares issued for conversion of loans (7/25/17), shares | 20,000,000 | ||||||||||
Steve Truong - shares issued for cash (7/25/17) | $ 1,333 | 18,667 | 20,000 | ||||||||
Steve Truong - shares issued for cash (7/25/17), shares | 1,333,333 | ||||||||||
Andreas Held - shares issued for cash (7/25/17) | $ 200 | 2,800 | 3,000 | ||||||||
Andreas Held - shares issued for cash (7/25/17), shares | 200,000 | ||||||||||
Power Up Lending Group - shares issued for conversion of note (10/17/17) | $ 435 | 26,286 | 26,721 | ||||||||
Power Up Lending Group - shares issued for conversion of note (10/17/17), shares | 434,783 | ||||||||||
JSJ Investments Inc. - shares issued for conversion of note (10/19/17) | $ 371 | 28,813 | 29,184 | ||||||||
JSJ Investments Inc. - shares issued for conversion of note (10/19/17), shares | 371,057 | ||||||||||
Power Up Lending Group - shares issued for conversion of note (10/23/17) | $ 622 | 32,278 | 32,900 | ||||||||
Power Up Lending Group - shares issued for conversion of note (10/23/17), shares | 622,407 | ||||||||||
EMA Financial LLC - shares issued for conversion of note (10/24/17) | $ 250 | 8,563 | 8,813 | ||||||||
EMA Financial LLC - shares issued for conversion of note (10/24/17), shares | 250,000 | ||||||||||
Power Up Lending Group - shares issued for conversion of note (10/31/17) | $ 419 | 15,479 | 15,898 | ||||||||
Power Up Lending Group - shares issued for conversion of note (10/31/17), shares | 419,212 | ||||||||||
EMA Financial LLC - shares issued for conversion of note (11/07/17) | $ 600 | 5,518 | 6,118 | ||||||||
EMA Financial LLC - shares issued for conversion of note (11/07/17), shares | 600,000 | ||||||||||
Auctus Fund, LLC - shares issued for conversion of note (11/08/17) | $ 2,155 | 50,783 | 52,938 | ||||||||
Auctus Fund, LLC - shares issued for conversion of note (11/08/17), shares | 2,154,700 | ||||||||||
Andreas Held - shares issued for cash (11/16/17) | $ 80 | 1,120 | 1,200 | ||||||||
Andreas Held - shares issued for cash (11/16/17), shares | 80,000 | ||||||||||
EMA Financial LLC - shares issued for conversion of note (11/21/17) | $ 1,000 | 10,938 | 11,938 | ||||||||
EMA Financial LLC - shares issued for conversion of note (11/21/17), shares | 1,000,000 | ||||||||||
Auctus Fund, LLC - shares issued for conversion of note (12/01/17) | $ 2,346 | 33,489 | 35,835 | ||||||||
Auctus Fund, LLC - shares issued for conversion of note (12/01/17), shares | 2,346,000 | ||||||||||
JSJ Investments Inc. - shares issued for conversion of note (12/05/17) | $ 1,386 | 23,884 | 25,270 | ||||||||
JSJ Investments Inc. - shares issued for conversion of note (12/05/17), shares | 1,385,677 | ||||||||||
EMA Financial LLC - shares issued for conversion of note (12/12/17) | $ 2,000 | 11,857 | 13,857 | ||||||||
EMA Financial LLC - shares issued for conversion of note (12/12/17), shares | 2,000,000 | ||||||||||
JSJ Investments Inc. - shares issued for conversion of note (12/13/17) | $ 2,251 | 23,639 | 25,890 | ||||||||
JSJ Investments Inc. - shares issued for conversion of note (12/13/17), shares | 2,250,821 | ||||||||||
Auctus Fund, LLC - shares issued for conversion of note (12/14/17) | $ 2,744 | 20,514 | 23,258 | ||||||||
Auctus Fund, LLC - shares issued for conversion of note (12/14/17), shares | 2,744,300 | ||||||||||
Steve Truong - shares issued for cash (12/14/17) | $ 1,724 | 8,276 | 10,000 | ||||||||
Steve Truong - shares issued for cash (12/14/17), shares | 1,724,138 | ||||||||||
EMA Financial LLC - shares issued for conversion of note (12/19/17) | $ 2,500 | 14,917 | 17,417 | ||||||||
EMA Financial LLC - shares issued for conversion of note (12/19/17), shares | 2,500,000 | ||||||||||
JSJ Investments Inc. - shares issued for conversion of note (12/20/17) | $ 2,914 | 30,592 | 33,506 | ||||||||
JSJ Investments Inc. - shares issued for conversion of note (12/20/17), shares | 2,913,837 | ||||||||||
EMA Financial LLC - shares issued for conversion of note (12/29/17) | $ 2,500 | 15,103 | 17,603 | ||||||||
EMA Financial LLC - shares issued for conversion of note (12/29/17), shares | 2,500,000 | ||||||||||
Crown Bridge Partners LLC - shares issued for conversion of note (12/29/17) | $ 2,300 | 14,854 | 17,154 | ||||||||
Crown Bridge Partners LLC - shares issued for conversion of note (12/29/17), shares | 2,300,000 | ||||||||||
Auctus Fund, LLC - shares issued for conversion of note (01/08/18) | $ 1,836 | 13,620 | 15,456 | ||||||||
Auctus Fund, LLC - shares issued for conversion of note (01/08/18), shares | 1,835,795 | ||||||||||
JSJ Investments Inc. - shares issued for conversion of note (01/09/18) | $ 2,602 | 24,295 | 26,897 | ||||||||
JSJ Investments Inc. - shares issued for conversion of note (01/09/18), shares | 2,601,957 | ||||||||||
Crown Bridge Partners LLC - shares issued for conversion of note (01/11/18) | $ 2,900 | 29,060 | 31,960 | ||||||||
Crown Bridge Partners LLC - shares issued for conversion of note (01/11/18), shares | 2,900,000 | ||||||||||
EMA Financial LLC - shares issued for conversion of note (01/25/18) | $ 2,500 | 17,921 | 20,421 | ||||||||
EMA Financial LLC - shares issued for conversion of note (01/25/18), shares | 2,500,000 | ||||||||||
Crown Bridge Partners LLC - shares issued for conversion of note (01/29/18) | $ 2,500 | 110,475 | 112,975 | ||||||||
Crown Bridge Partners LLC - shares issued for conversion of note (01/29/18), shares | 2,500,000 | ||||||||||
EMA Financial LLC - shares issued for conversion of note (01/29/18) | $ 3,812 | 24,282 | 28,094 | ||||||||
EMA Financial LLC - shares issued for conversion of note (01/29/18), shares | 3,812,188 | ||||||||||
Andreas Held - shares issued for cash (01/30/18) | $ 100 | 881 | 981 | ||||||||
Andreas Held - shares issued for cash (01/30/18), shares | 100,000 | ||||||||||
Cuong Tran - shares issued for service (01/30/18) | $ 100 | 881 | 981 | ||||||||
Cuong Tran - shares issued for service (01/30/18), shares | 100,000 | ||||||||||
Crown Bridge Partners LLC - shares issued for conversion of note (02/08/18) | $ 2,510 | 20,319 | 22,829 | ||||||||
Crown Bridge Partners LLC - shares issued for conversion of note (02/08/18), shares | 2,509,693 | ||||||||||
Henry Fahman - shares issued for accrued salaries (02/08/18)) | $ 4,746 | 145,254 | 150,000 | ||||||||
Henry Fahman - shares issued for accrued salaries (02/08/18)), shares | 4,746,084 | ||||||||||
Tina Phan - shares issued for accrued salaries (02/08/18) | $ 1,898 | 58,102 | 60,000 | ||||||||
Tina Phan - shares issued for accrued salaries (02/08/18), shares | 1,898,434 | ||||||||||
Crown Bridge Partners LLC - shares issued for exercise of warrants (02/28/18) | $ 4,744 | 163,846 | 168,590 | ||||||||
Crown Bridge Partners LLC - shares issued for exercise of warrants (02/28/18), shares | 4,744,007 | ||||||||||
Crown Bridge Partners LLC - shares issued for exercise of warrants (04/13/18) | $ 4,654 | 69,143 | 73,797 | ||||||||
Crown Bridge Partners LLC - shares issued for exercise of warrants (04/13/18), shares | 4,653,954 | ||||||||||
Power Up Lending Group - shares issued for conversion of note (4/19/18) | $ 1,170 | 39,902 | 41,072 | ||||||||
Power Up Lending Group - shares issued for conversion of note (4/19/18), shares | 1,169,591 | ||||||||||
Power Up Lending Group - shares issued for conversion of note (4/23/18) | $ 1,128 | 29,513 | 30,641 | ||||||||
Power Up Lending Group - shares issued for conversion of note (4/23/18), shares | 1,127,820 | ||||||||||
Power Up Lending Group - shares issued for conversion of note (4/24/18) | $ 295 | 4,544 | 4,839 | ||||||||
Power Up Lending Group - shares issued for conversion of note (4/24/18), shares | 295,156 | ||||||||||
Crown Bridge Partners LLC - shares issued for conversion of note (05/25/18) | $ 3,160 | 86,302 | 89,462 | ||||||||
Crown Bridge Partners LLC - shares issued for conversion of note (05/25/18), shares | 3,159,521 | ||||||||||
Henry Fahman - shares issued for accrued salaries (04/27/18)) | $ 11,574 | 288,426 | 300,000 | ||||||||
Henry Fahman - shares issued for accrued salaries (04/27/18)), shares | 11,574,074 | ||||||||||
Tina Phan - shares issued for accrued salaries (04/27/18) | $ 4,630 | 115,370 | 120,000 | ||||||||
Tina Phan - shares issued for accrued salaries (04/27/18), shares | 4,629,630 | ||||||||||
Einstein Investments LLC - shares issued for conversion of note (06/04/18) | $ 3,150 | 46,850 | 50,000 | ||||||||
Einstein Investments LLC - shares issued for conversion of note (06/04/18), shares | 3,149,607 | ||||||||||
Crown Bridge Partners LLC - shares issued for exercise of warrants (06/21/18) | $ 6,049 | 290,318 | 296,367 | ||||||||
Crown Bridge Partners LLC - shares issued for exercise of warrants (06/21/18), shares | 6,048,786 | ||||||||||
Buu Chung - shares issued for conversion of note (06/26/18) | $ 158 | 2,842 | 3,000 | ||||||||
Buu Chung - shares issued for conversion of note (06/26/18), shares | 157,604 | ||||||||||
Net income (loss) | (2,026,320) | (2,026,320) | |||||||||
Balance at Jun. 30, 2018 | $ 382,920 | $ 314,100 | $ (44,170) | 33,887,240 | 751,962 | 40,551,299 | $ (33,000) | $ 447,500 | (4,844,747) | ||
Balance, shares at Jun. 30, 2018 | 135,893,815 | 10,000,000 | (484,767) | ||||||||
Crown Bridge Partners (01/15/2019) | [1] | $ 23,000 | (7,330) | 15,670 | |||||||
Crown Bridge Partners (01/15/2019), shares | [1] | 23,000,000 | |||||||||
Power Up Lending Group (01/15/2019) | [1] | $ 22,310 | (189) | 22,121 | |||||||
Power Up Lending Group (01/15/2019), shares | [1] | 22,310,345 | |||||||||
Auctus Fund, LLC (01/15/2019) | [1] | $ 25,000 | (5,982) | 19,018 | |||||||
Auctus Fund, LLC (01/15/2019), shares | [1] | 25,000,000 | |||||||||
Power Up Lending Group (01/17/2019) | [1] | $ 22,316 | (3,694) | 18,622 | |||||||
Power Up Lending Group (01/17/2019), shares | [1] | 22,316,327 | |||||||||
Power Up Lending Group (01/22/2019) | [1] | $ 22,304 | (4,938) | 17,366 | |||||||
Power Up Lending Group (01/22/2019), shares | [1] | 22,304,348 | |||||||||
Power Up Lending Group (01/23/2019) | [1] | $ 33,341 | (10,215) | 23,126 | |||||||
Power Up Lending Group (01/23/2019), shares | [1] | 33,341,463 | |||||||||
JSJ Investments, Inc. (01/24/2019) | [1] | $ 31,659 | (6,394) | 25,265 | |||||||
JSJ Investments, Inc. (01/24/2019), shares | [1] | 31,658,523 | |||||||||
Power Up Lending Group (01/24/2019) | [1] | $ 33,343 | (13,623) | 19,720 | |||||||
Power Up Lending Group (01/24/2019), shares | [1] | 33,342,857 | |||||||||
Auctus Fund, LLC (01/28/2019) | [1] | $ 33,000 | (24,293) | 8,707 | |||||||
Auctus Fund, LLC (01/28/2019), shares | [1] | 33,000,000 | |||||||||
EMA Financial LLC (01/28/2019) | [1] | $ 39,370 | (26,444) | 12,926 | |||||||
EMA Financial LLC (01/28/2019), shares | [1] | 39,370,000 | |||||||||
Power Up Lending Group (01/28/2019) | [1] | $ 34,845 | (19,774) | 15,071 | |||||||
Power Up Lending Group (01/28/2019), shares | [1] | 34,844,828 | |||||||||
JSJ Investments, Inc. (01/29/2019) | [1] | $ 38,664 | (19,371) | 19,293 | |||||||
JSJ Investments, Inc. (01/29/2019), shares | [1] | 38,663,736 | |||||||||
Auctus Fund, LLC (02/04/2019) | [1] | $ 39,374 | (27,551) | 11,823 | |||||||
Auctus Fund, LLC (02/04/2019), shares | [1] | 39,373,800 | |||||||||
JSJ Investments, Inc. (02/04/2019) | [1] | $ 45,812 | (27,246) | 18,566 | |||||||
JSJ Investments, Inc. (02/04/2019), shares | [1] | 45,811,785 | |||||||||
ONE44 Capital LLC (02/04/2019) | [1] | $ 45,956 | (27,891) | 18,065 | |||||||
ONE44 Capital LLC (02/04/2019), shares | [1] | 45,955,682 | |||||||||
EMA Financial LLC (02/07/2019) | [1] | $ 53,000 | (38,802) | 14,198 | |||||||
EMA Financial LLC (02/07/2019), shares | [1] | 53,000,000 | |||||||||
Auctus Fund, LLC (02/08/2019) | [1] | $ 37,070 | (25,998) | 11,072 | |||||||
Auctus Fund, LLC (02/08/2019), shares | [1] | 37,070,000 | |||||||||
JSJ Investments, Inc. (02/08/2019) | [1] | $ 52,238 | (31,134) | 21,104 | |||||||
JSJ Investments, Inc. (02/08/2019), shares | [1] | 52,237,707 | |||||||||
Power Up Lending Group (02/20/2019) | [1] | $ 60,265 | (22,999) | 37,266 | |||||||
Power Up Lending Group (02/20/2019), shares | [1] | 60,264,706 | |||||||||
Auctus Fund, LLC (02/21/2019) | [1] | $ 63,000 | (53,518) | 9,482 | |||||||
Auctus Fund, LLC (02/21/2019), shares | [1] | 63,000,000 | |||||||||
EMA Financial LLC (02/21/2019) | [1] | $ 63,300 | (50,434) | 12,866 | |||||||
EMA Financial LLC (02/21/2019), shares | [1] | 63,300,000 | |||||||||
Power Up Lending Group (02/21/2019) | [1] | $ 60,235 | (41,994) | 18,241 | |||||||
Power Up Lending Group (02/21/2019), shares | [1] | 60,235,294 | |||||||||
Power Up Lending Group (02/25/2019) | [1] | $ 72,588 | (50,683) | 21,905 | |||||||
Power Up Lending Group (02/25/2019), shares | [1] | 72,588,235 | |||||||||
Andreas Held (2/25/2019) - issued for cash | [1] | $ 9,722 | (6,222) | 3,500 | |||||||
Andreas Held (2/25/2019) - issued for cash, shares | [1] | 9,722,222 | |||||||||
JSJ Investments, Inc. (02/26/2019) | [1] | $ 65,251 | (45,186) | 20,065 | |||||||
JSJ Investments, Inc. (02/26/2019), shares | [1] | 65,250,756 | |||||||||
Auctus Fund, LLC (02/27/2019) | [1] | $ 79,900 | (67,616) | 12,284 | |||||||
Auctus Fund, LLC (02/27/2019), shares | [1] | 79,900,000 | |||||||||
Power Up Lending Group (02/28/2019) | [1] | $ 55,792 | (45,113) | 10,679 | |||||||
Power Up Lending Group (02/28/2019), shares | [1] | 55,791,667 | |||||||||
EMA Financial LLC (02/28/2019) | [1] | $ 79,900 | (69,277) | 10,623 | |||||||
EMA Financial LLC (02/28/2019), shares | [1] | 79,900,000 | |||||||||
ONE44 Capital LLC (02/28/2019) | [1] | $ 80,925 | (64,848) | 16,077 | |||||||
ONE44 Capital LLC (02/28/2019), shares | [1] | 80,924,545 | |||||||||
JSJ Investments, Inc. (02/28/2019) | [1] | $ 78,534 | (62,940) | 15,594 | |||||||
JSJ Investments, Inc. (02/28/2019), shares | [1] | 78,534,484 | |||||||||
Crown Bridge Partners (3/04/2019) | [1] | $ 90,000 | (77,625) | 12,375 | |||||||
Crown Bridge Partners (3/04/2019), shares | [1] | 90,000,000 | |||||||||
Power Up Lending Group (3/04/2019) | [1] | $ 72,583 | (20,603) | 51,980 | |||||||
Power Up Lending Group (3/04/2019), shares | [1] | 72,583,333 | |||||||||
Power Up Lending Group (03/05/2019) | [1] | $ 72,500 | (57,089) | 15,411 | |||||||
Power Up Lending Group (03/05/2019), shares | [1] | 72,500,000 | |||||||||
EMA Financial LLC (3/05/2019) | [1] | $ 98,600 | (85,259) | 13,341 | |||||||
EMA Financial LLC (3/05/2019), shares | [1] | 98,600,000 | |||||||||
Crown Bridge Partners (3/05/2019) | [1] | $ 89,986 | (81,558) | 8,428 | |||||||
Crown Bridge Partners (3/05/2019), shares | [1] | 89,986,285 | |||||||||
ONE44 Capital LLC (3/06/2019) | [1] | $ 86,817 | (69,612) | 17,205 | |||||||
ONE44 Capital LLC (3/06/2019), shares | [1] | 86,816,909 | |||||||||
LG Capital Funding LLC (3/07/2019) | [1] | $ 124,267 | (111,935) | 12,332 | |||||||
LG Capital Funding LLC (3/07/2019), shares | [1] | 124,266,800 | |||||||||
JSJ Investments, Inc. (3/07/2019) | [1] | $ 104,879 | (88,046) | 16,833 | |||||||
JSJ Investments, Inc. (3/07/2019), shares | [1] | 104,878,552 | |||||||||
Auctus Fund, LLC (3/08/2019) | [1] | $ 124,100 | (107,631) | 16,469 | |||||||
Auctus Fund, LLC (3/08/2019), shares | [1] | 124,100,000 | |||||||||
Power Up Lending Group (3/08/2019) | [1] | $ 106,667 | (95,386) | 11,281 | |||||||
Power Up Lending Group (3/08/2019), shares | [1] | 106,666,667 | |||||||||
ONE44 Capital LLC (3/11/2019) | [1] | $ 146,851 | (132,200) | 14,651 | |||||||
ONE44 Capital LLC (3/11/2019), shares | [1] | 146,851,273 | |||||||||
Crown Bridge Partners (3/12/2019) | [1] | $ 153,000 | (142,527) | 10,473 | |||||||
Crown Bridge Partners (3/12/2019), shares | [1] | 153,000,000 | |||||||||
EMA Financial LLC (3/12/2019) | [1] | $ 154,000 | (143,741) | 10,259 | |||||||
EMA Financial LLC (3/12/2019), shares | [1] | 154,000,000 | |||||||||
Power Up Lending Group (3/12/2019) | [1] | $ 87,333 | (78,023) | 9,310 | |||||||
Power Up Lending Group (3/12/2019), shares | [1] | 87,333,333 | |||||||||
EMA Financial LLC (3/14/2019) | [1] | $ 174,000 | (162,288) | 11,712 | |||||||
EMA Financial LLC (3/14/2019), shares | [1] | 174,000,000 | |||||||||
ONE44 Capital LLC (3/14/2019) | [1] | $ 162,435 | (146,221) | 16,214 | |||||||
ONE44 Capital LLC (3/14/2019), shares | [1] | 162,434,909 | |||||||||
Crown Bridge Partners (3/18/2019) | [1] | $ 190,000 | (176,890) | 13,110 | |||||||
Crown Bridge Partners (3/18/2019), shares | [1] | 190,000,000 | |||||||||
Power Up Lending Group (3/19/2019) | [1] | $ 143,833 | (128,527) | 15,306 | |||||||
Power Up Lending Group (3/19/2019), shares | [1] | 143,833,333 | |||||||||
LG Capital Funding LLC (3/19/2019) | [1] | $ 200,628 | (180,638) | 19,990 | |||||||
LG Capital Funding LLC (3/19/2019), shares | [1] | 200,628,400 | |||||||||
JSJ Investments, Inc. (3/19/2019) | [1] | $ 187,465 | (169,982) | 17,483 | |||||||
JSJ Investments, Inc. (3/19/2019), shares | [1] | 187,464,854 | |||||||||
Auctus Fund, LLC (3/20/2019) | [1] | $ 200,389 | (184,752) | 15,637 | |||||||
Auctus Fund, LLC (3/20/2019), shares | [1] | 200,389,000 | |||||||||
Crown Bridge Partners (3/20/2019) | [1] | $ 200,000 | (186,169) | 13,831 | |||||||
Crown Bridge Partners (3/20/2019), shares | [1] | 200,000,000 | |||||||||
EMA Financial LLC (3/20/2019) | [1] | $ 226,900 | (211,407) | 15,493 | |||||||
EMA Financial LLC (3/20/2019), shares | [1] | 226,900,000 | |||||||||
Power Up Lending Group (3/22/2019) | [1] | $ 190,833 | (170,481) | 20,352 | |||||||
Power Up Lending Group (3/22/2019), shares | [1] | 190,833,333 | |||||||||
Power Up Lending Group (3/25/2019) | [1] | $ 267,667 | (239,110) | 28,557 | |||||||
Power Up Lending Group (3/25/2019), shares | [1] | 267,666,667 | |||||||||
Crown Bridge Partners (3/25/2019) | [1] | $ 258,000 | (239,972) | 18,028 | |||||||
Crown Bridge Partners (3/25/2019), shares | [1] | 258,000,000 | |||||||||
Crown Bridge Partners (3/27/2019) | [1] | $ 293,000 | (272,457) | 20,543 | |||||||
Crown Bridge Partners (3/27/2019), shares | [1] | 293,000,000 | |||||||||
Power Up Lending Group (3/28/2019) | [1] | $ 178,833 | (162,009) | 16,824 | |||||||
Power Up Lending Group (3/28/2019), shares | [1] | 178,833,333 | |||||||||
Auctus Fund, LLC (3/28/2019) | [1] | $ 93,213 | (86,195) | 7,018 | |||||||
Auctus Fund, LLC (3/28/2019), shares | [1] | 93,212,950 | |||||||||
ONE44 Capital LLC (3/28/2019) | [1] | $ 304,693 | (274,313) | 30,380 | |||||||
ONE44 Capital LLC (3/28/2019), shares | [1] | 304,693,455 | |||||||||
Power Up Lending Group (4/01/2019) | [1] | $ 337,333 | (303,323) | 34,010 | |||||||
Power Up Lending Group (4/01/2019), shares | [1] | 337,333,333 | |||||||||
JSJ Investments, Inc. (4/02/2019) | [1] | $ 262,927 | (240,261) | 22,666 | |||||||
JSJ Investments, Inc. (4/02/2019), shares | [1] | 262,927,251 | |||||||||
Power Up Lending Group (4/02/2019) | [1] | $ 337,333 | (313,602) | 23,731 | |||||||
Power Up Lending Group (4/02/2019), shares | [1] | 237,333,333 | |||||||||
Auctus Fund, LLC (4/03/2019) | [1] | $ 337,387 | (312,206) | 25,181 | |||||||
Auctus Fund, LLC (4/03/2019), shares | [1] | 337,387,300 | |||||||||
Andreas Held (4/24/2019) - issued for cash | $ 11,667 | (10,267) | 1,400 | ||||||||
Andreas Held (4/24/2019) - issued for cash, shares | 11,666,667 | ||||||||||
Power Up Lending Group (4/29/2019) | [1] | $ 84,000 | (76,213) | 7,787 | |||||||
Power Up Lending Group (4/29/2019), shares | [1] | 84,000,000 | |||||||||
LG Capital Funding LLC (4/30/2019) | [1] | $ 400,959 | (360,373) | 40,586 | |||||||
LG Capital Funding LLC (4/30/2019), shares | [1] | 400,958,800 | |||||||||
JSJ Investments, Inc. (5/09/2019) | [1] | $ 413,211 | (369,908) | 43,303 | |||||||
JSJ Investments, Inc. (5/09/2019), shares | [1] | 413,210,892 | |||||||||
ONE44 Capital LLC (5/21/2019) | [1] | $ 419,103 | (366,743) | 52,360 | |||||||
ONE44 Capital LLC (5/21/2019), shares | [1] | 419,103,273 | |||||||||
Crown Bridge Partners (5/24/2019) | [1] | $ 277,000 | (252,673) | 24,327 | |||||||
Crown Bridge Partners (5/24/2019), shares | [1] | 277,000,000 | |||||||||
JSJ Investments, Inc. (6/12/2019) | [1] | $ 467,567 | (414,703) | 52,864 | |||||||
JSJ Investments, Inc. (6/12/2019), shares | [1] | 467,567,286 | |||||||||
Net income (loss) | (2,929,661) | (2,929,661) | |||||||||
Balance at Jun. 30, 2019 | $ 9,982,862 | [2] | $ (314,100) | $ (44,170) | $ 59,535,476 | $ (42,688,547) | $ 35,500 | $ (6,002,724) | |||
Balance, shares at Jun. 30, 2019 | 9,705,762,461 | 10,000,000 | (484,767) | ||||||||
[1] | Issued for conversions of promissory notes | ||||||||||
[2] | Par value of $0.04 per share prior to 4/13/2009 and $0.001 per share after 4/13/2009 |
Statement of Stockholders' Eq_2
Statement of Stockholders' Equity (Deficit) (Parenthetical) - $ / shares | Jun. 30, 2019 | Mar. 29, 2019 | Feb. 27, 2019 | Feb. 19, 2019 | Jan. 03, 2019 | Nov. 27, 2018 | Nov. 08, 2018 | Oct. 29, 2018 | Jun. 30, 2018 | Apr. 14, 2009 | Apr. 13, 2009 |
Statement of Stockholders' Equity [Abstract] | |||||||||||
Common stock, par value | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.04 |
Nature of Business
Nature of Business | 12 Months Ended |
Jun. 30, 2019 | |
Accounting Policies [Abstract] | |
Nature of Business | NOTE 1 NATURE OF BUSINESS PHI Group, Inc. (the “Company” or “PHI”) ( www.phiglobal.com www.philuxcap.com BACKGROUND Originally incorporated on June 8, 1982 as JR Consulting, Inc., a Nevada corporation, the Company applied for a Certificate of Domestication and filed Articles of Domestication to become a Wyoming corporation on September 20, 2017. In the beginning, the Company was foremost 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. In January 2000, the Company changed its name to Providential Securities, Inc., a Nevada corporation, following a business combination with Providential Securities, Inc., a California-based financial services company. 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 and its subsidiaries were 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. In October 2011, the Company discontinued the operations of Providential Vietnam Ltd., Philand Ranch Limited, a United Kingdom corporation (together with its subsidiaries Philand Ranch - Singapore, Philand Corporation - US, and Philand Vietnam Ltd. - Vietnam), PHI Gold Corporation (formerly PHI Mining Corporation, a Nevada corporation), and PHI Energy Corporation (a Nevada corporation), and mainly focused on acquisition and development opportunities in energy and natural resource businesses. The Company is currently focused on operating PHILUX Global Funds, SCA, SICAV-RAIF by setting up a number of sub-funds for investment in real estate, renewable energy, infrastructure, agriculture and healthcare as well as developing and establishing the Asia Diamond Exchange in Vietnam. In addition, PHILUX Capital Advisors, Inc. (formerly Capital Holdings, Inc.), a wholly owned subsidiary of the Company, continues to provide corporate and project finance services, including merger and acquisition (M&A) advisory and consulting services for other client companies. No assurances can be made that the Company will be successful in achieving its plans. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Jun. 30, 2019 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | NOTE 2 PRINCIPLES OF CONSOLIDATION The consolidated financial statements include the accounts of PHI Group, Inc., its wholly owned subsidiaries (1) American Pacific Resources, Inc., a Wyoming corporation (100%), (2) PHI Capital Holdings, Inc. (name changed to PHILUX Capital Advisors, Inc. on June 03, 2020), a Wyoming corporation (100%), and (3) PHI Luxembourg Development S.A., a Luxembourg corporation (100%), collectively referred to as the “Company.” All significant inter-company transactions have been eliminated in consolidation. 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 typically represents less than twenty percent (20%) of the outstanding common stock and stock equivalents of the investee, and each security is quoted on a national exchange or on 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, 2019 and 2018 the marketable securities have been recorded at $213,485 and $1,100,483, 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, 2019, the Company wrote off $432,000 of accounts receivable from the previous fiscal year due to non-collectibility. 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 (LOSS) 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 net earnings (loss) per share is computed as follows: 2019 2018 Basic and diluted net loss per share: Numerator: Net income (loss) $ (2,929,661 ) $ (2,026,320 ) Denominator: Basic weighted average number of common shares outstanding 2,813,015,265 72,797,797 Basic net income (loss) per share $ (0.00 ) $ (0.03 ) Diluted weighted average number of common shares outstanding 2,813,015,265 72,797,797 Diluted net income (loss) per share $ (0.00 ) $ (0.03 ) 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 Fair Value - Definition and Hierarchy Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Assets and liabilities measured at fair value are categorized based on whether or not the inputs are observable in the market and the degree that the inputs are observable. The categorization of financial assets and liabilities within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. A fair value hierarchy for inputs is used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs are to be used when available. Valuation techniques that are consistent with the market or income approach are used to measure fair value. The fair value hierarchy is categorized into three levels based on the inputs as follows: Level Level Level 3 Fair value is a market-based measure, based on assumptions of prices and inputs considered from the perspective of a market participant that are current as of the measurement date, rather than an entity-specific measure. Therefore, even when market assumptions are not readily available, the Company’s own assumptions are set to reflect those that market participants would use in pricing the asset or liability at the measurement date. The availability of valuation techniques and observable inputs can vary from investment to investment and are affected by a wide variety of factors, including; type of investment, whether the investment is new and not yet established in the marketplace, the liquidity of markets, and other characteristics particular to the transaction. To the extent that valuation is based upon models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Because of the inherent uncertainty of valuation, those estimated values may be materially higher or lower than the values that would have been used had a ready market for the investments existed. Accordingly, the degree of judgment exercised by the Fund in determining fair value is greatest for investments categorized in Level 3. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, the level in the fair value hierarchy in which the fair value measurement falls in its entirety is determined based upon the lowest level input that is significant to the fair value measurement. Fair Value - Valuation Techniques and Inputs The Company holds and may invest public securities traded on public exchanges or over-the-counter (OTC), private securities, real estate, convertible securities, interest bearing securities and other types of securities and has adopted specific techniques for their respective valuations. Equity Securities in Public Companies Unrestricted The Company values investments in securities that are freely tradable and listed on major securities exchanges at their last reported sales price as of the valuation date. To the extent these securities are actively traded and valuation adjustments are not applied, they are categorized in Level 1 of the fair value hierarchy. Securities traded on inactive markets or valued by reference to similar instruments are generally categorized in Level 2 or 3 of the fair value hierarchy. Restricted Securities traded on public exchanges or over-the-counter (OTC) where there are formal restrictions that limit (i.e. Rule 144 holding periods and underwriter’s lock-ups) their sale shall be valued at the closing price on the date of valuation less applicable discounts. The Company may apply a discount to securities with Rule 144 restrictions. Additional discounts may be assessed if the Company believes there are other mitigating factors which warrant the additional discounting. When determining potential additional discounts, factors that will be taken into consideration include, but are not limited to; securities’ trading characteristics, volume, length and overall impact of the restriction as well as other macro-economic factors. Valuations should be discounted appropriately until the securities may be freely traded. If it has been determined that the exchange or OTC listed price does not accurately reflect fair market value, the Company may elect to treat the security as a private company and apply an alternative valuation method. Investments in restricted securities of public companies may be included in Level 2 of the fair value hierarchy. However, to the extent that significant inputs used to determine liquidity discounts are not observable, investments in restricted securities in public companies may be categorized in Level 3 of the fair value hierarchy. The Company’s financial instruments primarily consist of cash and cash equivalents, accounts receivable, marketable securities, short-term notes payable, convertible notes, derivative liability and accounts payable. As of the balance sheet dates, the estimated fair values of the financial instruments were not materially different from their carrying values as presented on the balance sheet. This is primarily attributed to the short maturities of these instruments. Effective July 1, 2008, the Company adopted ASC 820 (previously SFAS 157), Fair Value Measurements Assets measured at fair value on a recurring basis are summarized below. The Company also has convertible notes and derivative liabilities as disclosed in this report that are measured at fair value on a regular basis until paid off or exercised. 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 STANDARDS ASC 606-10 provides the following overview of how revenue is recognized from an entity’s contracts with customers: An entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Step 1: Identify the contract(s) with a customer. Step 2: Identify the performance obligations in the contract. Step 3: Determine the transaction price – The transaction price is the amount of consideration in a contract to which an entity expects to be entitled in exchange for transferring promised goods or services to a customer. Step 4: Allocate the transaction price to the performance obligations in the contract – Any entity typically allocates the transaction price to each performance obligation on the basis of the relative standalone selling prices of each distinct good or service promised in the contract. Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation – An entity recognizes revenue when (or as) it satisfies a performance obligation by transferring a promised good or service to a customer (which is when the customer obtains control of that good or service). The amount of revenue recognized is the amount allocated to the satisfied performance obligation. A performance obligation may be satisfied at a point in time (typically for promises to transfer goods to a customer) or over time (typically for promises to transfer service to a customer). For performance obligations satisfied over time, an entity recognizes revenue over time by selecting an appropriate method for measuring the entity’s progress toward complete satisfaction of that performance obligation. (Paragraphs 606-10 25-23 through 25-30). In addition, ASC 606-10 contains guidance on the disclosures related to revenue, and notes the following: It also includes a cohesive set of disclosure requirements that would result in an entity providing users of financial statements with comprehensive information about the nature, amount, timing, and uncertainty of revenue and cash flows arising from the entity’s contracts with customers. Specifically, Section 606-10-50 requires an entity to provide information about: - Revenue recognized from contracts with customers, including disaggregation of revenue into appropriate categories. - Contract balances, including the opening and closing balances of receivables, contract assets, and contract liabilities. - Performance obligations, including when the entity typically satisfies its performance obligations and the transaction prices is that is allocated to the remaining performance obligations in a contract. - Significant judgments, and changes in judgments, made in applying the requirements to those contracts. Additionally, Section 340-40-50 requires an entity to provide quantitative and/or qualitative information about assets recognized from the costs to obtain or fulfill a contract with a customer. The Company’s revenue recognition policies are in compliance with ASC 606-10. The Company recognizes consulting and advisory fee revenues in accordance with the above-mentioned guidelines and expenses are recognized in the period in which the corresponding liability is incurred. ADVERTISING The Company expenses advertising costs as incurred. Advertising costs for the years ended June 30, 2019 and 2018 were $50,377 and $36,221, respectively. The increase in advertising expenses is primarily due to investor relations expenses of $31,507 during the fiscal year ended June 30, 2019. 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, 2019 and 2018, respectively, accumulated other comprehensive income (loss) of $0 and $751,962 are 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 revenue-generating segment during the year ended June 30, 2019 and two segments in the year ended June 30, 2018. 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. 2018-13 – August 2018 Fair Value Measurement (Topic 820): Changes to the Disclosure Requirements for Fair Value Measurement Modifications: The following disclosure requirements were modified in Topic 820: 1. In lieu of a rollforward for Level 3 fair value measurements, a nonpublic entity is required to disclose transfers into and out of Level 3 of the fair value hierarchy and purchases and issues of Level 3 assets and liabilities. 2. For investments in certain entities that calculate net asset value, an entity is required to disclose the timing of liquidation of an investee’s assets and the date when restrictions from redemption might lapse only if the investee has communicated the timing to the entity or announced the timing publicly. 3. The amendments clarify that the measurement uncertainty disclosure is to communicate information about the uncertainty in measurement as of the reporting date. Additions: The following disclosure requirements were added to Topic 820; however, the disclosures are not required for nonpublic entities: 1. The changes in unrealized gains and losses for the period included in other comprehensive income for recurring Level 3 fair value measurements held at the end of the reporting period. 2. The range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements. For certain unobservable inputs, an entity may disclose other quantitative information (such as the median or arithmetic average) in lieu of the weighted average if the entity determines that other quantitative information would be a more reasonable and rational method to reflect the distribution of unobservable inputs used to develop Level 3 fair value measurements. The amendments in this Update are effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. Update No. 2018-07 – June 2018 Compensation – Stock Compensation (Topic 718) Improvements to Nonemployee Share-Based Payment Accounting Main Provisions: The amendments in this Update expand the scope of Topic 718 to include share-based payment transactions for acquiring goods and services from nonemployees. An entity should apply the requirements of Topic 718 to nonemployee awards except for specific guidance on inputs to an option pricing model and the attribution of cost (that is, the period of time over which share-based payment awards vest and the pattern of cost recognition over that period). The amendments specify that Topic 718 applies to all share-based payment transactions in which a grantor acquires goods or services to be used or consumed in a grantor’s own operations by issuing share-based payment awards. The amendments also clarify that Topic 718 does not apply to share-based payments used to effectively provide (1) financing to the issuer or (2) awards granted in conjunction with selling goods or services to customers as part of a contract accounted for under Topic 606, Revenue from Contracts with Customers. The amendments in this Update are effective for public business entities for fiscal years beginning after December 15, 2018, including interim periods within that fiscal year. Update No. 2017-13 - September 2017 Revenue Recognition (Topic 605), Revenue from Contracts with Customers (Topic 606) FASB Accounting Standards Updates No. 2014-09, Revenue from Contracts with Customers (Topic 606), issued in May 2014 and codified in ASC Topic 606, Revenue from Contracts with Customers, and No. 2016-02. The transition provisions in ASC Topic 606 require that a public business entity and certain other specified entities adopt ASC Topic 606 for annual reporting 3 periods beginning after December 15, 2017, including interim reporting periods within that reporting period. FN2 All other entities are required to adopt ASC Topic 606 for annual reporting periods beginning after December 15, 2018, and interim reporting periods within annual reporting periods beginning after December 15, 2019. Update No. 2016-10 - April 2016 Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing The core principle of the guidance in Topic 606 is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve that core principle, an entity should apply the following steps: 1. Identify the contract(s) with a customer. 2. Identify the performance obligations in the contract. 3. Determine the transaction price. 4. Allocate the transaction price to the performance obligations in the contract. 5. Recognize revenue when (or as) the entity satisfies a performance obligation. The amendments in this Update do not change the core principle of the guidance in Topic 606. Rather, the amendments in this Update clarify the following two aspects of Topic 606: identifying performance obligations and the licensing implementation guidance, while retaining the related principles for those areas. 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 implementation of these pronouncements would not have a material impact on the financial statements taken as a whole. |
Loans Receivable
Loans Receivable | 12 Months Ended |
Jun. 30, 2019 | |
Receivables [Abstract] | |
Loans Receivable | NOTE 3 Loans receivable consist of the following at June 30, 2019 and 2018: Loans Receivable June 30, 2019 June 30, 2018 Loan to American Laser Healthcare, Inc. $ 1,605 $ 1,065 Total $ 1,605 $ 1,065 |
Other Assets
Other Assets | 12 Months Ended |
Jun. 30, 2019 | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | |
Other Assets | NOTE 4 The Other Assets comprise of the following as of June 30, 2019 and 2018: 2019 2018 Investments $ 5,000 $ 25,005,000 Contract Assets $ - $ 697,841 Total Other Assets $ 5,000 $ 25,702,841 Investments as of June 30, 2019 consist of a $5,000 investment in AQuarius Power, Inc., a renewable energy technology company. 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 OTC Markets. As such, each investment is accounted for in accordance with the provisions of SFAS No. 115. Marketable securities owned by the Company and classified as available for sale as of June 30, 2019 consisted of 905,000 shares of Myson Group, Inc. (formerly Vanguard Mining Corporation) and 292,050,000 shares of Sports Pouch Beverage Company, both public companies traded on the OTC Markets (Trading symbols MYSN and SPBV, respectively). The fair value of the marketable securities recorded as of June 30, 2019 was $ 213,485. The Company wrote off 32,900,106 shares of Myson Group, Inc. as worthless as of June 30, 2019. Securities available for sale Level 1 Level 2 Level 3 Total June 30, 2019 - $ 9,050 $ 204,435 $ 213,485 June 30, 2018 $ - $ 253,538 $ 864,945 $ 1,110,483 During the fiscal year ended June 30, 2018, there was no transfer of securities from level 3 to level 2. |
Property and Equipment
Property and Equipment | 12 Months Ended |
Jun. 30, 2019 | |
Property, Plant and Equipment [Abstract] | |
Property and Equipment | NOTE 6 As of June 30, 2019 the Company did not have any property or equipment. As of June 30, 2012, the Company recognized 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 for practical business and accounting purposes. As of June 30, 2018, the Company had a balance of $1,255,037 as Long-term Liabilities from Discontinued Operations, consisting of $954,337 from Philand Ranch Ltd., $215,000 from preferred stock of Providential Holdings, Inc., a former subsidiary of the Company, and $85,700 in contingency liabilities. As of June 30, 2019, the Company derecognized and extinguished these amounts from its balance sheet pursuant to statutory limit. |
Current Liabilities
Current Liabilities | 12 Months Ended |
Jun. 30, 2019 | |
Payables and Accruals [Abstract] | |
Current Liabilities | NOTE 8 Current liabilities of the Company consist of the followings as of June 30, 2019 and 2018: June 30, 2019 June 30, 2018 Accounts payable $ 189,152 $ 116,063 Accrued expenses $ 2,389,111 $ 392,205 Notes payable (net) $ 605,603 $ 1,336,552 Due to Officers and Directors $ 890,897 $ 233,577 Other current payable $ - $ 92,781 Contract liabilities $ - $ 697,841 Derivative liabilities $ 1,307,421 $ 738,814 Advance from customers $ 438,000 $ - Sub-fund obligations $ 1,266,634 $ - Total Current Liabilities $ 7,086,819 $ 3,607,833 ACCRUED EXPENSES: Accrued expenses as of June 30, 2019 consist of $1,237,651 in accrued salaries and $1,151,949 in accrued interest from short-term notes. NOTES PAYABLE (NET): Notes payable consist of $331,700 in short-term notes payable and $437,725 in convertible promissory notes minus $163,822 of discount. ADVANCES FROM CUSTOMERS The Company recorded $438,000 as Advances from Customers to reserve for $288,219 of consulting fees previously received from a client and $149,781 in accrued interest. The Company was not able to complete the consulting services due to the client’s inability to provide GAAP-compliant audited financial statements in order to file a registration statement with the Securities and Exchange Commission. SUB-FUND OBILGATIONS: During the fiscal year ended June 30, 2019, the Company received $800,000 from European Plastic Joint Stock Company towards the expenses and capitalization for setting up the energy sub-fund and $466,634 from Saigon Pho Palace Joint Stock Company towards the expenses and capitalization for setting up the real estate sub-fund respectively under the master PHILUX Global Funds. The Company recorded these amounts as liabilities until these sub-funds are set up and activated, at which time the sub-fund participants will receive 49% of the general partners’ portion of ownership in the relevant sub-funds for a total contribution of $2,000,000 each. |
Long-Term Liabilities
Long-Term Liabilities | 12 Months Ended |
Jun. 30, 2019 | |
Debt Disclosure [Abstract] | |
Long-Term Liabilities | NOTE 9 For the FY ended June 30, 2019, the Company reclassified all Long-term Liabilities as Current Liabilities. As of June 30, 2018, Long-term liabilities consist of: June 30, 2019 June 30, 2018 Accrued Expenses: $ - $ 1,063,481 Accrued Interest: $ - $ 2,005,815 Advances from Customers: $ - $ 288,219 Demand Promissory Note: $ - 24,048,500 Liabilities from Discontinued Operations: $ - $ 1,040,037 Preferred Stock Liabilities from Discontinued Operations: $ - $ 215,000 Total Long-term Liabilities $ - $ 28,661,052 DEMAND PROMISSORY NOTE During the fiscal year ended June 30, 2018, a balance of $24,048,5000 in demand promissory note was owed to Rush Gold Royalty, Inc., a Wyoming corporation, in connection with the acquisition of a 51% ownership in twenty-one mining claims over an area of approximately 400 acres in Granite Mining District, Grant County, Oregon, U.S.A by American Pacific Resources, Inc., a subsidiary of the Company. As of June 30, 2019, the Company derecognized the balance of said promissory note until a new independent valuation report of the mining claims is completed. EXTINGUISHMENT OF LIABILTIES FROM DISCONTINUED OPERATIONS As of June 30, 2019, the Company extinguished $1,040,037 that was previously reserved in connection with the potential contingent liabilities concerning the discontinued operations 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. since June 30, 2012 and $215,000 of preferred stock of Providential Securities, Inc., a previous subsidiary of the Company that was discontinued in the year 2000. |
Due to Officers and Directors
Due to Officers and Directors | 12 Months Ended |
Jun. 30, 2019 | |
Related Party Transactions [Abstract] | |
Due to Officers and Directors | NOTE 10 Due to officer, represents loans and advances made by officers and directors of the Company and its subsidiaries, unsecured and due on demand. As of June 30, 2019 and 2018, the balances were $528,517 and $233,577, respectively. Officers/Directors June 30, 2019 June 30, 2018 Henry Fahman 227,547 157,727 Tam Bui 663,350 63,350 Lawrence Olson - 12,500 Total $ 890,897 $ 233,577 |
Loans and Promissory Notes
Loans and Promissory Notes | 12 Months Ended |
Jun. 30, 2019 | |
Debt Disclosure [Abstract] | |
Loans and Promissory Notes | NOTE 11 SHORT TERM NOTES PAYABLE: In the course of its business, the Company has obtained short-term loans from individuals and institutional investors and from time to time raised money by issuing restricted common stock of the Company under the auspices of Rule 144. As of June 30, 2019, the Company had $331,700 in short-term notes payable with $1,151,460 accrued and unpaid interest. These notes bear interest rates ranging from 0% to 36% per annum. CONVERTIBLE PROMISSORY NOTES: As of June 30, 2019, the principal balance of the outstanding convertible notes was $437,725, with a total discount of $163,822 and total derivative liabilities of $1,307,421. The Company relies on professional third-party valuation to record the value of derivative liabilities, discounts, and changes in fair value of derivatives in connection with these convertible notes and warrants, if any, that are related to the convertible notes. The Company intends to repay these notes in cash as much as practical. |
Litigation - Extinguishment of
Litigation - Extinguishment of Settled Litigations | 12 Months Ended |
Jun. 30, 2019 | |
Commitments and Contingencies Disclosure [Abstract] | |
Litigation - Extinguishment of Settled Litigations | NOTE 12 As of June 30, 2019 the Company extinguished $172,091 in connection with Case No. 00CC13067 that was filed in Orange County Superior Court, CA on October 31, 2000, 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, paid $2,500 and agreed to an entry of judgment for $79,000. Until June 30, 2018 the Company accrued $172,091 for potential liabilities in connection with this case, but decided to extinguish this amount as of June 30, 2019 in light of the time that has lapsed since the inception of the case and the absence of any further action from the Claimants. As of June 30, 2019, the Company extinguished $90,000 in connection with Case No. BC 426831 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 against Martin Doan, Henry Fahman, Benjamin Tran, HRCiti Corporation, and Providential Capital, Inc. (collectively referred to as “Defendants”). On July 09, 2012 William Davidson and PHI Capital Holdings, Inc. (formerly Providential Capital, Inc.), a subsidiary of the Company, reached a settlement agreement whereby PHI Capital agreed to pay William Davidson a total of $200,000 over a period of nineteen months beginning September 1, 2012. Since November 30, 2012, William Davidson has converted portions of the total amount into common stock of PHI Group, Inc. in lieu of cash payment. Until June 30, 2018, the Company accrued $90,000 as the required liability associated with the balance of this case, but decided to extinguish this amount as of June 30, 2019 in light of the time that has lapsed since the inception of the case and the absence of any further action from William Davidson. |
Payroll Tax Liabilities
Payroll Tax Liabilities | 12 Months Ended |
Jun. 30, 2019 | |
Payroll Tax Liabilities | |
Payroll Tax Liabilities | NOTE 13 The payroll liabilities are accrued and recorded as accrued expenses in the consolidated balance sheet. During the fiscal year ended June 30, 2014, the Company paid $41,974.22 to the Internal Revenue Service and $ 19,289.94 to the State of California Employment Development Department towards the balance of $118,399 of payroll tax, penalties and interest claimed by these agencies. The Company has not resolved the remaining balances with the Internal Revenue Service and the State of California Employment Department as of June 30, 2019. As of March 05, 2021, the total balance as most recently notified by the Internal Revenue Service is estimated to be $4,704. |
Basic and Diluted Net Loss Per
Basic and Diluted Net Loss Per Share | 12 Months Ended |
Jun. 30, 2019 | |
Earnings Per Share [Abstract] | |
Basic and Diluted Net Loss Per Share | NOTE 14 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, 2019 were the same since the inclusion of Common stock equivalents is anti-dilutive. |
Stockholder's Equity
Stockholder's Equity | 12 Months Ended |
Jun. 30, 2019 | |
Equity [Abstract] | |
Stockholder's Equity | NOTE 15 STOCKHOLDER’S EQUITY As of June 30, 2019, the total number of authorized capital stock of the Company was shares with a par value of $0.001 per share, consisting of 30,500,000,000 shares of voting Common Stock with a par value of $0.001 per share and 500,000,000 shares of Preferred Stock with a par value of $0.001 per share. The rights and terms associated with the Preferred Stock will be determined by the Board of Directors of the Company. Treasury Stock The balance of treasury stock as of June 30, 2019 was 487,767 shares valued at $44,170 based on cost basis. Common Stock During the fiscal year ended June 30, 2019, the Company issued the following amounts of its Common Stock: Date Beginning balance (7/01/18) Issuances 135,893,815 7/19/18 Einstein Investments LLC 1,951,220 137,845,035 7/19/18 Power Up Lending Group 1,200,000 139,045,035 7/23/18 Power Up Lending Group 1,805,607 140,850,642 7/26/18 JSJ Investments, Inc. 4,260,531 145,111,173 7/27/18 Crown Bridge Partners 3,356,444 148,467,617 7/30/18 Power Up Lending Group 2,061,856 150,529,473 8/2/18 Power Up Lending Group 1,491,667 152,021,140 8/6/18 Einstein Investments LLC 2,298,851 154,319,991 8/17/18 JSJ Investments, Inc. 6,971,290 161,291,281 8/23/18 Power Up Lending Group 2,205,882 163,497,163 8/27/18 Power Up Lending Group 3,066,667 166,563,830 8/31/18 Auctus Fund, LLC 1,500,000 168,063,830 8/31/18 Redchip Companies Inc. 500,000 168,563,830 8/31/18 SRS Consulting Ltd. 500,000 169,063,830 9/6/18 Adar Bays LLC 1,022,913 170,086,743 9/20/18 Einstein Investments LLC 1,734,105 171,820,848 9/21/18 Auctus Fund, LLC 1,500,000 173,320,848 9/26/18 Andreas Held 164,722 173,485,570 10/16/18 Adar Bays LLC 8,603,239 182,088,809 10/17/18 Auctus Fund, LLC 2,500,000 184,588,809 10/18/18 Crown Bridge Partners 4,500,000 189,088,809 10/22/18 Einstein Investments LLC 8,782,806 197,871,615 10/25/18 JSJ Investments, Inc. 9,044,851 206,916,466 10/26/18 Power Up Lending Group 6,097,561 213,014,027 10/29/18 Power Up Lending Group 2,518,919 215,532,946 10/29/18 Crown Bridge Partners 6,700,000 222,232,946 10/30/18 Auctus Fund, LLC 3,700,000 225,932,946 11/2/18 Adar Bays LLC 10,746,606 236,679,552 11/2/18 Crown Bridge Partners 11,270,000 247,949,552 11/6/18 Adar Bays LLC 2,464,270 250,413,822 11/7/18 JSJ Investments, Inc. 11,070,714 261,484,536 11/13/18 Auctus Fund, LLC 7,000,000 268,484,536 11/14/18 Crown Bridge Partners 10,540,000 279,024,536 11/26/18 JSJ Investments, Inc. 13,672,202 292,696,738 11/27/18 Auctus Fund, LLC 10,000,000 302,696,738 11/29/18 Crown Bridge Partners 9,093,444 311,790,182 12/4/18 Auctus Fund, LLC 15,000,000 326,790,182 12/6/18 Crown Bridge Partners 15,558,000 342,348,182 12/11/18 JSJ Investments, Inc. 15,277,718 357,625,900 12/12/18 Crown Bridge Partners 17,000,000 374,625,900 12/13/18 Auctus Fund, LLC 16,000,000 390,625,900 12/21/18 Auctus Fund, LLC 16,000,000 406,625,900 12/24/18 Crown Bridge Partners 19,492,000 426,117,900 12/31/18 Crown Bridge Partners 21,262,000 447,379,900 1/8/19 Auctus Fund, LLC 20,000,000 467,379,900 1/9/19 JSJ Investments, Inc. 19,140,669 486,520,569 1/9/19 Crown Bridge Partners 22,324,000 508,844,569 1/11/19 Power Up Lending Group 22,313,433 531,158,002 1/14/19 Power Up Lending Group 22,311,475 553,469,477 1/15/19 Power Up Lending Group 22,312,500 575,781,977 1/15/19 Crown Bridge Partners 23,000,000 598,781,977 1/15/19 Power Up Lending Group 22,310,345 621,092,322 1/15/19 Auctus Fund, LLC 25,000,000 646,092,322 1/17/19 Power Up Lending Group 22,316,327 668,408,649 1/22/19 Power Up Lending Group 22,304,348 690,712,997 1/23/19 Power Up Lending Group 33,341,463 724,054,460 1/24/19 JSJ Investments, Inc. 31,658,523 755,712,983 1/24/19 Power Up Lending Group 33,342,857 789,055,840 1/28/19 Auctus Fund, LLC 33,000,000 822,055,840 1/28/19 EMA Financial LLC 39,370,000 861,425,840 1/28/19 Power Up Lending Group 34,844,828 896,270,668 1/29/19 JSJ Investments, Inc. 38,663,736 934,934,404 2/4/19 Auctus Fund, LLC 39,373,800 974,308,204 2/4/19 JSJ Investments, Inc. 45,811,785 1,020,119,989 2/4/19 ONE44 Capital LLC 45,955,682 1,066,075,671 2/7/19 EMA Financial LLC 53,000,000 1,119,075,671 2/8/19 Auctus Fund, LLC 37,070,000 1,156,145,671 2/8/19 JSJ Investments, Inc. 52,237,707 1,208,383,378 2/20/19 Power Up Lending Group 60,264,706 1,268,648,084 2/21/19 Auctus Fund, LLC 63,000,000 1,331,648,084 2/21/19 EMA Financial LLC 63,300,000 1,394,948,084 2/21/19 Power Up Lending Group 60,235,294 1,455,183,378 2/25/19 Power Up Lending Group 72,588,235 1,527,771,613 2/25/19 Andreas Held 9,722,222 1,537,493,835 2/26/19 JSJ Investments, Inc. 65,250,756 1,602,744,591 2/26/19 Auctus Fund, LLC 79,900,000 1,682,644,591 2/28/19 Power Up Lending Group 55,791,667 1,738,436,258 2/28/19 EMA Financial LLC 79,900,000 1,818,336,258 2/28/19 ONE44 Capital LLC 80,924,545 1,899,260,803 2/28/19 JSJ Investments, Inc. 78,534,484 1,977,795,287 3/4/19 Crown Bridge Partners 90,000,000 2,067,795,287 3/4/19 Power Up Lending Group 72,583,333 2,140,378,620 3/5/19 Power Up Lending Group 72,500,000 2,212,878,620 3/5/19 EMA Financial LLC 98,600,000 2,311,478,620 3/5/19 Crown Bridge Partners 89,986,285 2,401,464,905 3/6/19 ONE44 Capital LLC 86,816,909 2,488,281,814 3/7/19 LG Capital Funding LLC 124,266,800 2,612,548,614 3/7/19 JSJ Investments, Inc. 104,878,552 2,717,427,166 3/8/19 Auctus Fund, LLC 124,100,000 2,841,527,166 3/8/19 Power Up Lending Group 106,666,667 2,948,193,833 3/11/19 ONE44 Capital LLC 146,851,273 3,095,045,106 3/12/19 Crown Bridge Partners 153,000,000 3,248,045,106 3/12/19 EMA Financial LLC 154,000,000 3,402,045,106 3/12/19 Power Up Lending Group 87,333,333 3,489,378,439 3/14/19 EMA Financial LLC 174,000,000 3,663,378,439 3/14/19 ONE44 Capital LLC 162,434,909 3,825,813,348 3/18/19 Crown Bridge Partners 190,000,000 4,015,813,348 3/19/19 Power Up Lending Group 143,833,333 4,159,646,681 3/19/19 LG Capital Funding LLC 200,628,400 4,360,275,081 3/19/19 JSJ Investments, Inc. 187,464,854 4,547,739,935 3/20/19 Auctus Fund, LLC 200,389,000 4,748,128,935 3/20/19 Crown Bridge Partners 200,000,000 4,948,128,935 3/20/19 EMA Financial LLC 226,900,000 5,175,028,935 3/22/19 Power Up Lending Group 190,833,333 5,365,862,268 3/25/19 Power Up Lending Group 267,666,667 5,633,528,935 3/25/19 Crown Bridge Partners 258,000,000 5,891,528,935 3/27/19 Crown Bridge Partners 293,000,000 6,184,528,935 3/28/19 Power Up Lending Group 178,833,333 6,363,362,268 3/28/19 Auctus Fund, LLC 93,212,950 6,456,575,218 3/28/19 ONE44 Capital LLC 304,693,455 6,761,268,673 4/1/19 Power Up Lending Group 337,333,333 7,098,602,006 4/2/19 JSJ Investments, Inc. 262,927,251 7,361,529,257 4/2/19 Power Up Lending Group 237,333,333 7,598,862,590 4/3/19 Auctus Fund, LLC 337,387,300 7,936,249,890 4/24/19 Andreas Held 11,666,667 7,947,916,557 4/29/19 Power Up Lending Group 84,000,000 8,031,916,557 4/30/19 LG Capital Funding LLC 400,958,800 8,432,875,357 5/9/19 JSJ Investments, Inc. 413,210,892 8,846,086,249 5/21/19 ONE44 Capital LLC 419,103,273 9,265,189,522 5/24/19 Crown Bridge Partners 277,000,000 9,542,189,522 6/12/19 JSJ Investments, Inc. 467,567,286 10,009,756,808 As of June 30, 2019, there were 10,009,756,808 shares of the Company’s common stock issued and outstanding. Preferred Stock The Company has filed Certificates of Designation and Amendments to Certificate of Designation with the Nevada Secretary of State to designate the Company’s authorized Preferred Stock. As of June 30, 2019 the designations of the Company’s Preferred Stock were as follows: Class A Preferred Stock I. DESIGNATIONS, AMOUNTS AND DIVIDENDS 1. Class A Series I Cumulative Convertible Redeemable Preferred Stock A. Designation: Twenty million (20,000,000) shares of the authorized 500,000,000 shares of Preferred Stock, with a par value of $0.001 per share, are designated as Class A Series I Cumulative Convertible Redeemable Preferred Stock B. Number of Shares: The number of shares of Class A Series I Preferred Stock authorized shall be twenty million (20,000,000) shares. C. Dividends: Each holder of Class A Series I Preferred Stock is entitled to receive ten percent (10%) non-compounding cumulative dividends per annum, payable semi-annually. 2 . Class A Series II Cumulative Convertible Redeemable Preferred Stock A. Designation. Twenty-five million (25,000,000) shares of the authorized 500,000,000 shares of Preferred Stock, with a par value of $0.001 per share, are designated Class A Series II Cumulative Convertible Redeemable Preferred Stock (the “ Class A Series II Preferred Stock B. Number of Shares. The number of shares of Class A Series II Preferred Stock authorized shall be twenty-five million (25,000,000) shares. C. Dividends: Each holder of Class A Series II Preferred Stock is entitled to receive eight percent (8%) cumulative dividends per annum, payable semi-annually. 3. Class A Series III Cumulative Convertible Redeemable Preferred Stock A. Designation. Fifty million (50,000,000) shares of the authorized 500,000,000 shares of Preferred Stock, with a par value of $0.001 per share, are designated as Class A Series III Cumulative Convertible Redeemable Preferred Stock (the “ Class A Series III Preferred Stock B. Number of Shares. The number of shares of Class A Series III Preferred Stock authorized shall be fifty million (50,000,000) shares. C. Dividends: Each holder of Class A Series III Preferred Stock is entitled to receive eight percent (8%) cumulative dividends per annum, payable semi-annually. II. CONVERSION 1. Conversion of Series I and/or Series II Class A Preferred Stock into Common Stock of PHI Group, Inc. Each share of the Class A Preferred Stock, either Series I or Series II shall be convertible into the Company’s Common Stock any time after two years from the date of issuance at a Variable Conversion Price (as defined herein) of the Common Stock. The “Variable Conversion Price” shall mean 75% multiplied by the Market Price (as defined herein) (representing a discount rate of 25%). “Market Price” means the average Trading Price for the Company’s Common Stock during the ten (10) trading-day period ending one trading day prior to the date the Conversion Notice is sent by the Holder of the Class A Preferred Stock to the Company via facsimile or email (the “Conversion Date”). “Trading Price” means, for any security as of any date, the closing price on the OTC Markets, OTCQB, NASDAQ Stock Markets, or applicable trading market as reported by a reliable reporting service (“Reporting Service”) mutually acceptable to the Company and Holder of the Class A Preferred Stock. 2. Conversion of Series I and/or Series II Class A Preferred Stock into Common Stock of a subsidiary of PHI Group, Inc.’s. Alternatively, each share of the Class A Preferred Stock, either Series I or Series II, may be convertible into Common Stock of a subsidiary of PHI Group, Inc.’s, to be determined by the Company’s Board of Directors, any time after such subsidiary has become a fully-reporting publicly traded company for at least three months, at a Variable Conversion Price (as defined herein). The Variable Conversion Price to be used in connection with the conversion into Common Stock of a subsidiary of PHI Group, Inc.’s shall mean 50% multiplied by the Market Price (as defined herein), representing a discount rate of 50%, of that Common Stock. “Market Price” means the average Trading Price for the Common Stock of said subsidiary of PHI Group, Inc.’s during the ten (10) trading-day period ending one trading day prior to the date the Conversion Notice is sent by the Holder of the Preferred Stock to the Company via facsimile or email (the “Conversion Date”). “Trading Price” means, for any security as of any date, the closing price on the OTC Markets, OTCQB, NASDAQ Stock Markets, NYSE or applicable trading market as reported by a reliable reporting service (“Reporting Service”) mutually acceptable to the Company, said subsidiary and Holder of the Class A Preferred Stock.” 3. Conversion of Class A Series III Preferred Stock of PHI Group, Inc. into Common Stock of American Pacific Plastics, Inc., a subsidiary of PHI Group, Inc.’s. The entire Class A Series III Preferred Stock of PHI Group, Inc. (i.e. fifty million (50,000,000) shares) may be convertible into eighty percent (80%) American Pacific Plastics, Inc.’s Common Stock which will have been issued and outstanding immediately after such conversion or exchange on a pro rata basis. 4. Conversion Shares. The amount of shares of Common Stock of PHI Group, Inc., or alternatively, of a subsidiary of PHI Group, Inc.’s, to be received by Holder at the time of conversion of Class A Series I or Series II Preferred Stock of PHI Group, Inc. will be based on the following formula: Where CS Common Shares of PHI Group, Inc., Amount of CS OIP + AUD or alternatively, of a subsidiary of PHI Group, Inc.’s. VCP OIP Original Issue Price of Class A Series I or Series II Preferred Stock of PHI Group, Inc. AUD Accrued and Unpaid Dividends. VCP Variable Conversion Price of PHI Common Stock or of a subsidiary of PHI Group, Inc.’s as defined above. III. REDEMPTION RIGHTS The Corporation, after a period of two years from the date of issuance, may at any time or from time to time redeem the Class A Preferred Stock, either Series I, Series II or Series III, in whole or in part, at the option of the Company’s Board of Directors, at a price equal to one hundred twenty percent (120%) of the original purchase price of the Class A Preferred Stock or of a unit consisting of any shares of Class A Preferred Stock and any warrants attached thereto, plus, in each case, accumulated and unpaid dividends to the date fixed for redemption. IV. LIQUIDATION Upon the occurrence of a Liquidation Event (as defined below), the holders of Class A Preferred Stock are entitled to receive net assets on a pro rata basis. As used herein, “ Liquidation Event Permitted Merger V. RANK All shares of the Class A Preferred Stock shall rank (i) senior to the Corporation’s Common Stock and any other class or series of capital stock of the Corporation hereafter created, (ii) pari passu VI. VOTING RIGHTS 1. Class A Series I, II and III Preferred Stock of PHI Group, Inc. shall have no voting rights. VII. PROTECTION PROVISIONS So long as any shares of Class A Preferred Stock are outstanding, the Corporation shall not, without first obtaining the majority written consent of the holders of Class A Preferred Stock, alter or change the rights, preferences or privileges of the Class A Preferred Stock so as to affect adversely the holders of Class A Preferred Stock. VIII. MISCELLANEOUS A. Status of Redeemed Stock B Lost or Stolen Certificates C Waiver D Notices If to the Corporation: PHI GROUP, INC. 5348 Vegas Drive # 237 Las Vegas, NV 89108 Telephone: 702-475-5430 Facsimile: 702-472-8556 If to the holders of Class Preferred Stock, to the address to be listed in the Corporation’s books and Records. Class B Preferred Stock Class B Series I Preferred Stock A. Designation: Two hundred thousand shares of the authorized 500,000,000 shares of Preferred Stock, with a par value of $0.001 per share, are designated as Class B Series I Preferred Stock. B. Number of Shares: The number of shares of Class B Series I Preferred Stock authorized will be two hundred thousand shares. C. Dividend: None D. Voting rights: Except as provided by law, the shares of Class B Series I Preferred Stock shall have the same right to vote or act on all matters on which the holders of Common Stock have the right to vote or act and the holders of the shares of Class B Series I shall be entitled to notice of any stockholders’ meeting or action as to such matters on the same basis as the holders of Common Stock, and the holders of Common Stock and shares of Class B Series I shall vote together or act together thereon as if a single class on all such matters; provided, in such voting or action each one share of Class B Series I shall be entitled to one hundred thousand votes. As of June 30, 2019, the following amounts of Preferred Stock were issued and outstanding: Class A Series II Preferred Stock: 10,000,000 shares. Class B Series I Preferred Stock: 120,000 shares. AMENDMENTS TO ARTICLES OF INCORPORATION: On October 29, 2018, a Certificate of Amendment to Articles of Incorporation of PHI Group, Inc. was filed with the Nevada Secretary of State to amend Article V of the Articles of Incorporation to change the authorized capital stock of the Corporation to 3,000,000,000 shares with a par value of $0.001 per share, consisting of 2,800,000,000 shares of voting Common Stock with a par value of $0.001 per share and 200,000,000 shares of Preferred Stock with a par value of $0.001 per share. The rights and terms associated with the shares of Preferred Stock will be determined by the Board of Directors of the Corporation. On November 08, 2018, a Certificate of Amendment to Articles of Incorporation of PHI Group, Inc. was filed with the Nevada Secretary of State to amend Article V of the Articles of Incorporation to change the authorized capital stock of the Corporation to 4,000,000,000 shares with a par value of $0.001 per share, consisting of 3,800,000,000 shares of voting Common Stock with a par value of $0.001 per share and 200,000,000 shares of Preferred Stock with a par value of $0.001 per share. The rights and terms associated with the shares of Preferred Stock will be determined by the Board of Directors of the Corporation. On November 27, 2018, a Certificate of Amendment to Articles of Incorporation of PHI Group, Inc. was filed with the Nevada Secretary of State to amend Article V of the Articles of Incorporation to change the authorized capital stock of the Corporation to 5,000,000,000 shares with a par value of $0.001 per share, consisting of 4,800,000,000 shares of voting Common Stock with a par value of $0.001 per share and 200,000,000 shares of Preferred Stock with a par value of $0.001 per share. The rights and terms associated with the shares of Preferred Stock will be determined by the Board of Directors of the Corporation. On January 03, 2019, a Certificate of Amendment to Articles of Incorporation of PHI Group, Inc. was filed with the Nevada Secretary of State to amend Article V of the Articles of Incorporation to change the authorized capital stock of the Corporation to 7,000,000,000 shares with a par value of $0.001 per share, consisting of 6,900,000,000 shares of voting 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 per share. The rights and terms associated with the shares of Preferred Stock will be determined by the Board of Directors of the Corporation. On February 19, 2019, a Certificate of Amendment to Articles of Incorporation of PHI Group, Inc. was filed with the Nevada Secretary of State to amend Article V of the Articles of Incorporation to change the authorized capital stock of the Corporation to ten billion shares with a par value of $0.001 per share, consisting of 9.8 billion shares of voting Common Stock with a par value of $0.001 per share and 200,000,000 shares of Preferred Stock with a par value of $0.001 per share. The rights and terms associated with the shares of Preferred Stock will be determined by the Board of Directors of the Corporation. On February 27, 2019, a Certificate of Amendment to Articles of Incorporation of PHI Group, Inc. was filed with the Nevada Secretary of State to amend Article V of the Articles of Incorporation to change the authorized capital stock of the Corporation to fifteen billion shares with a par value of $0.001 per share, consisting of 14.8 billion shares of voting Common Stock with a par value of $0.001 per share and 200,000,000 shares of Preferred Stock with a par value of $0.001 per share. The rights and terms associated with the shares of Preferred Stock will be determined by the Board of Directors of the Corporation. On March 29, 2019, a Certificate of Amendment to Articles of Incorporation of PHI Group, Inc. was filed with the Nevada Secretary of State to amend Article V of the Articles of Incorporation to change the authorized capital stock of the Corporation to thirty-one billion shares with a par value of $0.001 per share, consisting of 30.5 billion shares of voting Common Stock with a par value of $0.001 per share and 500,000,000 shares of Preferred Stock with a par value of $0.001 per share. The rights and terms associated with the shares of Preferred Stock will be determined by the Board of Directors of the Corporation. Domestication in the State of Wyoming On September 20, 2017, the Company applied for a Certificate of Domestication and filed Articles of Domestication with the office of the Secretary of State of Wyoming to re-domicile the Company’s jurisdiction to the State of Wyoming. On September 20, 2017, the Company filed Articles of Amendment with the Wyoming Secretary of State to amend the authorized capital of the Company as follows: “The total number of shares into which the authorized capital stock of the corporation is divided is one billion shares, consisting of: nine hundred million shares of voting Common Stock with a par value of $0.001 per share; fifty million shares of non-voting Class A Series I Preferred Stock with a par value of $5.00 per share; twenty-five million shares of non-voting Class A Series II Preferred Stock with a par value of $5.00 per share; twenty million shares of non-voting Class A Series III Preferred Stock with a par value of $5.00 per share and five million shares of voting Class A Series IV Preferred Stock with a par value of $5.00 per share. The relative rights, preferences, limitations and restrictions associated with the afore-mentioned shares of Class A Preferred Stock will be determined by the Board of Directors of the corporation.” On June 25, 2020, the Company filed Articles of Amendment with the Wyoming Secretary of State to amend the authorized capital of the Company as follows: Total authorized capital: Forty billion shares of Common Stock with a par value of $0.001 per share and five hundred million shares of Preferred Stock with a par value of $0.001 per share. The rights and terms associated with the shares of Preferred Stock will be determined by the Board of Directors of the Corporation. The Company continued to operate as a Nevada corporation until June 30, 2020. |
Stock-Based Compensation Plans
Stock-Based Compensation Plans | 12 Months Ended |
Jun. 30, 2019 | |
Share-based Payment Arrangement [Abstract] | |
Stock-Based Compensation Plans | NOTE 16 STOCK-BASED COMPENSATION PLANS On February March 18, 2015, the Company adopted an Employee Benefit Plan to set aside 1,000,000 shares of common stock for eligible employees and independent contractors of the Company and its subsidiaries. As of June 30, 2019 the Company has not issued any stock in lieu of cash under this plan. On September 23, 2016, the Company issued incentive stock options and nonqualified stock options to certain key employee(s) (Henry Fahman – CEO/CFO) and directors (Tam Bui, Henry Fahman, and Frank Hawkins constitute the Board of Directors) as deferred compensation. The options allow the holders to acquire the Company’s Common Stock at the fair exercise price of the Company’s Common Stock on the grant date of each option at $0.24 per share, based on the 10-days’ volume-weighted average price prior to the grant date. The number of options is equal to a total of 6,520,000. The options terminate seven years from the date of grant and become vested and exercisable after one year from the grant date. The following assumptions were used in the Monte Carlo analysis by Doty Scott Enterprises, Inc., an independent valuation firm, to determine the fair value of the stock options: Risk-free interest rate 1.18 % Expected life 7 years Expected volatility 239.3 % Vesting is based on a one-year cliff from grant date. Annual attrition rates were used in the valuation since ongoing employment was condition for vesting the options. The fair value of the Company’s Stock Options as of issuance valuation date is as follows: Holder Issue Date Maturity Date Stock Options Exercise Price Fair Value at Issuance Tam Bui 9/23/2016 9/23/2023 875,000 Fixed price: $0.24 $ 219,464 Frank Hawkins 9/23/2016 9/23/2023 875,000 Fixed price: $0.24 $ 219,464 Henry Fahman 9/23/2016 9/23/2023 4,770,000 Fixed price: $0.24 $ 1,187,984 |
Gain (Loss) on Settlement of De
Gain (Loss) on Settlement of Debts | 12 Months Ended |
Jun. 30, 2019 | |
Gain Loss On Settlement Of Debts | |
Gain (Loss) on Settlement of Debts | NOTE 17 GAIN (LOSS) ON SETTLEMENT OF DEBTS For the fiscal year ended June 30, 2019, there was no gain or loss on settlement of debts, as compared a loss in the amount of $94,539 from conversions of debts into common stock of the Company for the fiscal year ended June 30, 2018. |
Other Income (Expense)
Other Income (Expense) | 12 Months Ended |
Jun. 30, 2019 | |
Other Income and Expenses [Abstract] | |
Other Income (Expense) | NOTE 18 OTHER INCOME (EXPENSE) Net Other Income (Expense) for the fiscal year ended June 30, 2019 consists of the following: OTHER INCOME (EXPENSES) FY ended June 30, 2019 Interest expense (1,897,979 ) Net other income/expense 1,378,531 NET OTHER INCOME (EXPENSES) (519,448 ) |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Jun. 30, 2019 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | NOTE 19 RELATED PARTY TRANSACTIONS The Company accrued $210,000 in salaries for the President and Secretary of the Company during the year ended June 30, 2019. |
Income Taxes
Income Taxes | 12 Months Ended |
Jun. 30, 2019 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | NOTE 20 INCOME TAXES No provision was made for income tax since the Company has significant net operating loss carry forward. Through June 30, 2019, the Company incurred net operating losses for tax purposes of approximately $42,688,547. The net operating loss carry forward may be used to reduce taxable income through the year 2034. Net operating loss for carry forwards for the State of California is generally available to reduce taxable income through the year 2024. 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. “Under section 6501(a) of the Internal Revenue Code (Tax Code) and section 301.6501(a)-1(a) of the Income Tax Regulations (Tax Regulations), the IRS is required to assess tax within 3 years after the tax return was filed with the IRS.” |
Contracts and Commitments
Contracts and Commitments | 12 Months Ended |
Jun. 30, 2019 | |
Commitments and Contingencies Disclosure [Abstract] | |
Contracts and Commitments | NOTE 21 CONTRACTS AND COMMITMENTS BUSINESS CONSULANCY AND STRUCTURING AGENCY AGREEMENT TO SET UP INSTITUTIONAL BANK FUNDS IN LUXEMBOURG On November 30, 2017, the Company signed an agreement with a structuring agent and legal experts to set up a bank fund in Luxembourg in order to provide financing for the Company’s and its clients’ projects. The Reserved Alternative Investment Fund (RAIF) can be established under the form of common funds (“FCP”), investment companies with variable capital (“SICAV”) or under the form that does not have to have the legal form of a SICAV or an FCP. There will be no restriction in terms of eligible assets. RAIFs are free to introduce any kind of assets and financial instruments in their investment policy. According to the Luxembourg Law of July 12, 2013, RAIFs must entrust their assets to a Luxembourg custodian bank for safekeeping and must appoint an approved statutory auditor. One of the distinctive advantages of RAIF is that it may have various sub-funds, each corresponding to a distinct part of the assets and liabilities of the RAIF. As such, sub-funds can be established under a RAIF umbrella to target different investment opportunities in a variety of industries as desired. On February 21, 2018, the Company signed an amendment to the Business Consultancy and Structuring Agency Agreement to be solely responsible for all the costs of Euros 3,500,000 associated with establishing the RAIF. On October 4, 2018, a Payment Agreement was signed by the structuring agent and the Company calling for an extra amount of Euros 1,500,000 to be paid to the structuring agent by November 15, 2018. The master Luxembourg RAIF fund named “PHILUX Global Funds SCA, SICAV – RAIF” was registered and activated with the Luxembourg Commission de Surveillance du Secteur Financier (CSSF) on June 11, 2020, Registration No. B244952. ACQUISITION OF 51% EQUITY INTEREST IN VINAFILMS JOINT STOCK COMPANY On August 06, 2018, signed a Business Cooperation Agreement with Vinafilms JSC (Công ty Cổ phần Màng Bao Bì Tân Vinh Nam Phát), a Vietnamese joint stock company, with principal business address at Lot G9, Road No. 9, Tan Do Industrial Zone, Duc Hoa Ha Village, Duc Hoa District, Long An Province, Vietnam, hereinafter referred to as “VNF” and its majority shareholder, to exchange fifty-one percent ownership in VNF for Preferred Stock of PHI. According to the Agreement, PHI will be responsible for filing a S-1 Registration Statement with the Securities and Exchange Commission for American Pacific Plastics, Inc., a subsidiary of PHI that holds the 51% equity ownership in VNF, to become a fully-reporting public company in the U.S. Stock Market. On September 20, 2018, a Stock Swap Agreement was signed by and between Ms. Do Thi Nghieu, the majority shareholder holding 76% of ownership in VNF, and PHI to exchange 3,060,000 shares of ordinary stock of VNF owned by Ms. Do Thi Nghieu for 50 million shares of Class A Series III Cumulative, Convertible, Redeemable Preferred Stock of PHI. Though this transaction was technically closed on September 28, 2018, the Company did not recognize the operations of Vinafilms JSC in its consolidated financial statements as of June 30, 2019 and will not do so until a GAAP audit of Vinafilms JSC financial statements are conducted and completed by a PCAOB-registered auditing firm. |
Going Concern Uncertainty
Going Concern Uncertainty | 12 Months Ended |
Jun. 30, 2019 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Going Concern Uncertainty | NOTE 22 GOING CONCERN UNCERTAINTY As shown in the accompanying consolidated financial statements, the Company has accumulated deficit of $42,688,547 and total stockholders’ deficit of $6,002,724 as of June 30, 2019. 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, 2021 and beyond. |
Subsequent Events
Subsequent Events | 12 Months Ended |
Jun. 30, 2019 | |
Subsequent Events [Abstract] | |
Subsequent Events | NOTE 23 These financial statements were approved by management and available for issuance on March 09, 2021. Subsequent events have been evaluated through this date. 1. ISSUANCES OF COMMON STOCK OF THE COMPANY From July 01, 2019 through March 09, 2021, the Company issued the following amounts of stock to holders of convertible promissory notes and shareholders: SHARES ISSUED FROM JULY 01, 2019 THROUGH MARCH 09, 2021 DATE NAME AMOUNT OF SHARES CONSIDERATIONS 7/19/19 ANDREAS HELD 20,000,000 Cash 7/25/19 JSJ INVESTMENTS, INC. 491,458,083 Note conversion 8/16/19 JSJ INVESTMENTS, INC. 212,148,000 Note conversion 8/22/19 JSJ INVESTMENTS, INC. 525,934,781 Note conversion 8/29/19 CROWN BRIDGE PARTNERS LLC 525,000,000 Note conversion 9/4/19 AUCTUS FUND, LLC 224,451,600 Note conversion 9/5/19 ADAR ALEF LLC 599,230,769 Note conversion 9/6/19 JSJ INVESTMENTS, INC. 588,428,714 Note conversion 5/14/20 ANDREAS HELD 16,000,000 Cash 6/10/20 ANDREAS HELD 20,000,000 Cash 8/7/20 ONE44 CAPITAL LLC 239,611,455 Note conversion 12/2/20 ADAR ALEF LLC 318,050,962 Note conversion 12/3/20 ONE44 CAPITAL LLC 154,538,182 Note conversion 12/15/20 ONE44 CAPITAL LLC 163,666,182 Note conversion 12/22/20 JSJ INVESTMENTS, INC. 100,000,000 Note conversion 12/24/20 ONE44 CAPITAL LLC 155,732,187 Note conversion 12/30/20 JSJ INVESTMENTS, INC. 100,000,000 Note conversion 1/4/21 ONE44 CAPITAL LLC 170,025,603 Note conversion 1/8/21 JSJ INVESTMENTS, INC. 100,000,000 Note conversion 1/8/21 EMA FINANCIAL LLC 200,000,000 Note conversion 1/12/21 ONE44 CAPITAL LLC 200,308,909 Note conversion 1/15/21 JSJ INVESTMENTS, INC. 100,000,000 Note conversion 1/21/21 EMA FINANCIAL LLC 250,000,000 Note conversion 1/22/21 ONE44 CAPITAL LLC 323,442,182 Note conversion 1/25/21 JSJ INVESTMENTS, INC. 100,000,000 Note conversion 1/26/21 JSJ INVESTMENTS, INC. 200,000,000 Note conversion 2/3/21 ONE44 CAPITAL LLC 246,027,364 Note conversion 2/9/21 JSJ INVESTMENTS, INC. 571,064,466 Note conversion 2/9/21 CROWN BRIDGE PARTNERS LLC 216,393,200 Note conversion 2/9/21 CROWN BRIDGE PARTNERS LLC 238,365,100 Note conversion 2/22/21 EMA FINANCIAL LLC 200,000,000 Note conversion 2/23/21 EMA FINANCIAL LLC 650,000,000 Note conversion 2/24/21 JSJ INVESTMENTS, INC. 135,896,680 Note conversion 2/26/21 EMA FINANCIAL LLC 850,000,000 Note conversion 3/04/21 EMA FINANCIAL LLC 800,000,000 Note conversion TOTAL ISSUED 10,009,756,808. 2. ESTABLISHMENT AND ACTIVATION OF PHILUX GLOBAL FUNDS SCA, SICAV-RAIF On June 11, 2020, the Company received the approval from the Luxembourg Commission de Surveillance du Secteur Financier (CSSF) and successfully established and activated PHILUX GLOBAL FUNDS SCA, SICAV-RAIF (the “Fund”), Registration No. B244952, a Luxembourg bank fund organized as a Reserved Alternative Investment Fund in accordance with the Luxembourg Law of July 23, 2016 relative to reserved alternative investment funds, Law of August 23, 2016 relative to commercial companies, and Modified Law of July 12, 2013 relative to alternative investment fund managers. The following entities have been engaged to support the Fund’s operations: a) Custodian Bank: Hauck & Aufhauser Privatbankiers AG, b) Administrative Registrar & Transfer Agent: Hauck & Aufhauser Alternative Investment Services S.A., c) Fund Manager: Hauck & Aufhauser Fund Services S.A., d) Fund Attorneys: DLP Law Firm SARL and VCI Legal, e) Investment Advisor: PHILUX Capital Advisors, Inc., f) Fund Auditors: E&Y Luxembourg and E&Y Vietnam, g) Fund Tax Advisor: ATOZ Tax Management, Luxembourg, h) Fund Independent Asset Valuator: Cushman & Wakefield, Vietnam. The Fund is an umbrella fund containing one or more sub-fund compartments intended to invest in real estate, renewable energy, agriculture, healthcare and especially the Long Thanh Multi-Commodities Logistics Center (LMLC) in Dong Nai Province, Vietnam which will include the Asia Diamond Exchange and the proposed International Financial Center. 3. DEVELOPMENT OF THE ASIA DIAMOND EXCHANGE IN VIETNAM Along with the establishment of PHILUX Global Funds, since March 2018 the Company has worked closely with the Authority of Chu Lai Open Economic Zone and the Provincial Government of Quang Nam, Vietnam to develop the Asia Diamond Exchange. Quang Nam Provincial Government has agreed to allocate over 200 hectares in the sanctioned Free-Trade Zone near Chu Lai Airport, Nui Thanh District, Quang Nam Province in Central Vietnam for us to set up a multi-commodities center which would include the Asia Diamond Exchange. However, a better opportunity arose with the start of construction of the new international airport in Long Thanh District, Dong Nai Province near Ho Chi Minh City in Southern Vietnam. In December 2020, the Vietnamese central government designated 1,200 hectares of land in Bau Can village, Long Thanh District, Dong Nai Province as a new industrial zone. We have applied for 600 hectares close to the Long Thanh International Airport to develop Long Thanh Multi-Commodities Logistics Center (LMLC) which will house the Asia Diamond Exchange, the proposed International Financial Center and an Urban Area, among other things. 4. AGREEMENTS A. CONSULTING SERVICE AGREEMENT WITH GLINK APPS JSC On December 23, 2019, PHI Capital Holdings, Inc., a subsidiary of the Company, (name changed to PHILUX Capital Advisors, Inc. effective June 03, 2020) signed a Consulting Service Agreement to provide consulting service to Glink Apps JSC, a Wyoming corporation, and assist the latter to become a publicly traded company in the U.S. According to the agreement, Glink Apps JSC will pay PHI Capital Holdings, Inc. $88,500 in cash and five million (5,000,000) shares of its common stock for the consulting service to be rendered. B. BUSINESS COOPERATION AGREEMENT WITH NATURAL WELL TECHNICAL LTD. On April 27, 2020, the Company signed a Business Cooperation Agreement with Natural Well Technical Ltd. (“NWTL”), a company organized and existing under the laws of Republic of China and engaged in research and development of innovative biotechnologies that may have significant applications for healthcare, beauty supply, agriculture and industry. NWTL and the Company agree to jointly cooperate in the research and development activities of pertinent technologies that have been initiated and continue to be carried out by NWTL and applying them to produce commercial products and services in the fields of healthcare, beauty supply, agriculture and industry, as the case may be, as well as any other business activities deemed mutually beneficial. In particular, NWTL and the Company will initially focus on the following activities: a. Developing and implementing a comprehensive plan to increase the production, marketing and sale of the “Super Green” High Energy Drop Drink and “Mistyrious” Fine Mist Spray products on a large scale worldwide; b. Developing and implementing a plan to increase the production, marketing and sale of “Super Cassava” and “Uni-Wash” Engine Booster products as well as other products related to the fields of agriculture and energy that have been studied and developed by NWTL; c. Continuing to conduct research and accumulate clinical data for NWTL’s biotechnologies in order to obtain U.S. FDA’s approval of cancer treatments and other healthcare products. In addition, both parties also develop, produce and market beauty supply products. d. Designing a financial plan and providing the required funding for NWTL to execute its business plan. C. INVESTMENT ADVISORY AGREEMENT AMONG PHILUX CAPITAL ADVISORS, INC., HAUCK & AUFHAUSER FUND SERVICES S.A. AND PHILUX GLOBAL FUNDS SCA, SICAV-RAIF On June 11, 2020, PHILUX CAPITAL ADVISORS, INC. (the “Investment Advisor”) signed an Investment Advisory Agreement among Hauck & Aufhauser Fund Services S.A.(the “AIFM”) and PHILUX Global Funds SCA, SICAV-RAIF an umbrella-fund composed of one or more sub-funds (the “Fund”) to serve as the Investment Advisor for PHILUX Global Funds. According to the Agreement, the Investment Advisor will cooperate in the definition of the investment strategy and its implementation in an advisory capacity, develop proposals for specific investment policy of the Fund, advise and support the AIFM in the selection of the investments and to make investment recommendations, carry out due diligence process, present suitable investments selected in consideration of the investment policy and investment restrictions of the Fund, provide support in the conclusion of purchase and sale transactions, observe and analyze relevant markets and potential investments, provide advice and support to the AIFM and give recommendations in the event of a sale of investments, support investors of the Fund in onboarding management, granting information on Fund-relevant issues, as well as channeling and answering all investor questions, support the AIFM in its performance of risk control and with the completion of subscription agreements. The Investment Advisor shall receive from the General Partner of the Fund a remuneration as stated in the fees annex to the Investment Advisory Agreement. D. AGREEMENT WITH TECCO GROUP FOR PARTICIPATION IN PHILUX INFRASTRUCTURE FUND COMPARTMENT OF PHILUX GLOBAL FUNDS On August 10, 2020, Tecco Group, a Vietnamese company, signed an agreement with PHI Luxembourg Development SA, a subsidiary of the Company, to participate in the proposed infrastructure fund compartment of PHILUX Global Funds SCA, SICAV-RAIF. According to the agreement, Tecco Group will contribute $2,000,000 for 49% ownership of the general partners’ portion of said infrastructure fund compartment. As of March 05, 2021, Tecco Group has paid four billion Vietnam Dong (VND) towards the total agreed amount. E. AGREEMENT WITH PHAT VAN HUNG CO. LTD. FOR PARTICIPATION IN PHILUX REAL ESTATE FUND COMPARTMENT OF PHILUX GLOBAL FUNDS On November 09, 2020, Phat Van Hung Co. Ltd. signed an agreement with PHI Luxembourg Development SA, a subsidiary of the Company, to participate in the real estate fund compartment of PHILUX Global Funds SCA, SICAV-RAIF. According to the agreement, Phat Van Hung Co. Ltd. will contribute $2,000,000 for 49% ownership of the general partners’ portion of said real estate fund compartment. As of March 05, 2021, Phat Van Hung has not made any payment towards the agreed amount. F. AGREEMENT WITH XUAN QUYNH LLC FOR PARTICIPATION IN PHILUX INFRASTRUCTURE FUND COMPARTMENT OF PHILUX GLOBAL FUNDS On November 20, 2020, Xuan Quynh LLC, a Vietnamese company, signed an agreement with PHI Luxembourg Development SA, a subsidiary of the Company, to participate in the proposed infrastructure fund compartment of PHILUX Global Funds SCA, SICAV-RAIF. According to the agreement, Xuan Quynh LLC will contribute $2,000,000 for 49% ownership of the general partners’ portion said infrastructure fund compartment. As of March 05, 2021, Xuan Quynh LLC has not made any payment towards the agreed amount. G. INVESTMENT AGREEMENTS AND MEMORANDUM OF UNDERSTANDING From August 24, 2020 to November 11, 2020, the Company through its Luxembourg bank fund mother holding company PHI Luxembourg Development SA and PHILUX Global Funds SCA, SICAV-RAIF has signed investment agreements and memorandum of understanding with three non-US entities for total investments of more than one billion U.S. dollars. However, as of the date of this report, the Company has not received any money from these investment agreements and there is no guarantee that any money will be received from these agreements and memorandum of understanding in the future. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Jun. 30, 2019 | |
Accounting Policies [Abstract] | |
Principles of Consolidation | PRINCIPLES OF CONSOLIDATION The consolidated financial statements include the accounts of PHI Group, Inc., its wholly owned subsidiaries (1) American Pacific Resources, Inc., a Wyoming corporation (100%), (2) PHI Capital Holdings, Inc. (name changed to PHILUX Capital Advisors, Inc. on June 03, 2020), a Wyoming corporation (100%), and (3) PHI Luxembourg Development S.A., a Luxembourg corporation (100%), collectively referred to as the “Company.” All significant inter-company transactions have been eliminated in consolidation. |
Use of Estimates | 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 | 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 | 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 typically represents less than twenty percent (20%) of the outstanding common stock and stock equivalents of the investee, and each security is quoted on a national exchange or on 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, 2019 and 2018 the marketable securities have been recorded at $213,485 and $1,100,483, respectively based upon the fair value of the marketable securities at that time. |
Accounts Receivable | ACCOUNTS RECEIVABLE Management reviews the composition of accounts receivable and analyzes historical bad debts. As of June 30, 2019, the Company wrote off $432,000 of accounts receivable from the previous fiscal year due to non-collectibility. |
Impairment of Long-lived Assets | 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 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 | 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 (loss) Per Share | NET EARNINGS (LOSS) 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 net earnings (loss) per share is computed as follows: 2019 2018 Basic and diluted net loss per share: Numerator: Net income (loss) $ (2,929,661 ) $ (2,026,320 ) Denominator: Basic weighted average number of common shares outstanding 2,813,015,265 72,797,797 Basic net income (loss) per share $ (0.00 ) $ (0.03 ) Diluted weighted average number of common shares outstanding 2,813,015,265 72,797,797 Diluted net income (loss) per share $ (0.00 ) $ (0.03 ) |
Stock-based Compensation | 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 | FAIR VALUE OF FINANCIAL INSTRUMENTS Fair Value - Definition and Hierarchy Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Assets and liabilities measured at fair value are categorized based on whether or not the inputs are observable in the market and the degree that the inputs are observable. The categorization of financial assets and liabilities within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. A fair value hierarchy for inputs is used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs are to be used when available. Valuation techniques that are consistent with the market or income approach are used to measure fair value. The fair value hierarchy is categorized into three levels based on the inputs as follows: Level Level Level 3 Fair value is a market-based measure, based on assumptions of prices and inputs considered from the perspective of a market participant that are current as of the measurement date, rather than an entity-specific measure. Therefore, even when market assumptions are not readily available, the Company’s own assumptions are set to reflect those that market participants would use in pricing the asset or liability at the measurement date. The availability of valuation techniques and observable inputs can vary from investment to investment and are affected by a wide variety of factors, including; type of investment, whether the investment is new and not yet established in the marketplace, the liquidity of markets, and other characteristics particular to the transaction. To the extent that valuation is based upon models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Because of the inherent uncertainty of valuation, those estimated values may be materially higher or lower than the values that would have been used had a ready market for the investments existed. Accordingly, the degree of judgment exercised by the Fund in determining fair value is greatest for investments categorized in Level 3. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, the level in the fair value hierarchy in which the fair value measurement falls in its entirety is determined based upon the lowest level input that is significant to the fair value measurement. Fair Value - Valuation Techniques and Inputs The Company holds and may invest public securities traded on public exchanges or over-the-counter (OTC), private securities, real estate, convertible securities, interest bearing securities and other types of securities and has adopted specific techniques for their respective valuations. Equity Securities in Public Companies Unrestricted The Company values investments in securities that are freely tradable and listed on major securities exchanges at their last reported sales price as of the valuation date. To the extent these securities are actively traded and valuation adjustments are not applied, they are categorized in Level 1 of the fair value hierarchy. Securities traded on inactive markets or valued by reference to similar instruments are generally categorized in Level 2 or 3 of the fair value hierarchy. Restricted Securities traded on public exchanges or over-the-counter (OTC) where there are formal restrictions that limit (i.e. Rule 144 holding periods and underwriter’s lock-ups) their sale shall be valued at the closing price on the date of valuation less applicable discounts. The Company may apply a discount to securities with Rule 144 restrictions. Additional discounts may be assessed if the Company believes there are other mitigating factors which warrant the additional discounting. When determining potential additional discounts, factors that will be taken into consideration include, but are not limited to; securities’ trading characteristics, volume, length and overall impact of the restriction as well as other macro-economic factors. Valuations should be discounted appropriately until the securities may be freely traded. If it has been determined that the exchange or OTC listed price does not accurately reflect fair market value, the Company may elect to treat the security as a private company and apply an alternative valuation method. Investments in restricted securities of public companies may be included in Level 2 of the fair value hierarchy. However, to the extent that significant inputs used to determine liquidity discounts are not observable, investments in restricted securities in public companies may be categorized in Level 3 of the fair value hierarchy. The Company’s financial instruments primarily consist of cash and cash equivalents, accounts receivable, marketable securities, short-term notes payable, convertible notes, derivative liability and accounts payable. As of the balance sheet dates, the estimated fair values of the financial instruments were not materially different from their carrying values as presented on the balance sheet. This is primarily attributed to the short maturities of these instruments. Effective July 1, 2008, the Company adopted ASC 820 (previously SFAS 157), Fair Value Measurements Assets measured at fair value on a recurring basis are summarized below. The Company also has convertible notes and derivative liabilities as disclosed in this report that are measured at fair value on a regular basis until paid off or exercised. 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 Standards | REVENUE RECOGNITION STANDARDS ASC 606-10 provides the following overview of how revenue is recognized from an entity’s contracts with customers: An entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Step 1: Identify the contract(s) with a customer. Step 2: Identify the performance obligations in the contract. Step 3: Determine the transaction price – The transaction price is the amount of consideration in a contract to which an entity expects to be entitled in exchange for transferring promised goods or services to a customer. Step 4: Allocate the transaction price to the performance obligations in the contract – Any entity typically allocates the transaction price to each performance obligation on the basis of the relative standalone selling prices of each distinct good or service promised in the contract. Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation – An entity recognizes revenue when (or as) it satisfies a performance obligation by transferring a promised good or service to a customer (which is when the customer obtains control of that good or service). The amount of revenue recognized is the amount allocated to the satisfied performance obligation. A performance obligation may be satisfied at a point in time (typically for promises to transfer goods to a customer) or over time (typically for promises to transfer service to a customer). For performance obligations satisfied over time, an entity recognizes revenue over time by selecting an appropriate method for measuring the entity’s progress toward complete satisfaction of that performance obligation. (Paragraphs 606-10 25-23 through 25-30). In addition, ASC 606-10 contains guidance on the disclosures related to revenue, and notes the following: It also includes a cohesive set of disclosure requirements that would result in an entity providing users of financial statements with comprehensive information about the nature, amount, timing, and uncertainty of revenue and cash flows arising from the entity’s contracts with customers. Specifically, Section 606-10-50 requires an entity to provide information about: - Revenue recognized from contracts with customers, including disaggregation of revenue into appropriate categories. - Contract balances, including the opening and closing balances of receivables, contract assets, and contract liabilities. - Performance obligations, including when the entity typically satisfies its performance obligations and the transaction prices is that is allocated to the remaining performance obligations in a contract. - Significant judgments, and changes in judgments, made in applying the requirements to those contracts. Additionally, Section 340-40-50 requires an entity to provide quantitative and/or qualitative information about assets recognized from the costs to obtain or fulfill a contract with a customer. The Company’s revenue recognition policies are in compliance with ASC 606-10. The Company recognizes consulting and advisory fee revenues in accordance with the above-mentioned guidelines and expenses are recognized in the period in which the corresponding liability is incurred. |
Advertising | ADVERTISING The Company expenses advertising costs as incurred. Advertising costs for the years ended June 30, 2019 and 2018 were $50,377 and $36,221, respectively. The increase in advertising expenses is primarily due to investor relations expenses of $31,507 during the fiscal year ended June 30, 2019. |
Comprehensive Income (loss) | 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, 2019 and 2018, respectively, accumulated other comprehensive income (loss) of $0 and $751,962 are presented on the accompanying consolidated balance sheets. |
Income Taxes | 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 | 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 revenue-generating segment during the year ended June 30, 2019 and two segments in the year ended June 30, 2018. |
Risks and Uncertainties | 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 | RECENT ACCOUNTING PRONOUNCEMENTS Update No. 2018-13 – August 2018 Fair Value Measurement (Topic 820): Changes to the Disclosure Requirements for Fair Value Measurement Modifications: The following disclosure requirements were modified in Topic 820: 1. In lieu of a rollforward for Level 3 fair value measurements, a nonpublic entity is required to disclose transfers into and out of Level 3 of the fair value hierarchy and purchases and issues of Level 3 assets and liabilities. 2. For investments in certain entities that calculate net asset value, an entity is required to disclose the timing of liquidation of an investee’s assets and the date when restrictions from redemption might lapse only if the investee has communicated the timing to the entity or announced the timing publicly. 3. The amendments clarify that the measurement uncertainty disclosure is to communicate information about the uncertainty in measurement as of the reporting date. Additions: The following disclosure requirements were added to Topic 820; however, the disclosures are not required for nonpublic entities: 1. The changes in unrealized gains and losses for the period included in other comprehensive income for recurring Level 3 fair value measurements held at the end of the reporting period. 2. The range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements. For certain unobservable inputs, an entity may disclose other quantitative information (such as the median or arithmetic average) in lieu of the weighted average if the entity determines that other quantitative information would be a more reasonable and rational method to reflect the distribution of unobservable inputs used to develop Level 3 fair value measurements. The amendments in this Update are effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. Update No. 2018-07 – June 2018 Compensation – Stock Compensation (Topic 718) Improvements to Nonemployee Share-Based Payment Accounting Main Provisions: The amendments in this Update expand the scope of Topic 718 to include share-based payment transactions for acquiring goods and services from nonemployees. An entity should apply the requirements of Topic 718 to nonemployee awards except for specific guidance on inputs to an option pricing model and the attribution of cost (that is, the period of time over which share-based payment awards vest and the pattern of cost recognition over that period). The amendments specify that Topic 718 applies to all share-based payment transactions in which a grantor acquires goods or services to be used or consumed in a grantor’s own operations by issuing share-based payment awards. The amendments also clarify that Topic 718 does not apply to share-based payments used to effectively provide (1) financing to the issuer or (2) awards granted in conjunction with selling goods or services to customers as part of a contract accounted for under Topic 606, Revenue from Contracts with Customers. The amendments in this Update are effective for public business entities for fiscal years beginning after December 15, 2018, including interim periods within that fiscal year. Update No. 2017-13 - September 2017 Revenue Recognition (Topic 605), Revenue from Contracts with Customers (Topic 606) FASB Accounting Standards Updates No. 2014-09, Revenue from Contracts with Customers (Topic 606), issued in May 2014 and codified in ASC Topic 606, Revenue from Contracts with Customers, and No. 2016-02. The transition provisions in ASC Topic 606 require that a public business entity and certain other specified entities adopt ASC Topic 606 for annual reporting 3 periods beginning after December 15, 2017, including interim reporting periods within that reporting period. FN2 All other entities are required to adopt ASC Topic 606 for annual reporting periods beginning after December 15, 2018, and interim reporting periods within annual reporting periods beginning after December 15, 2019. Update No. 2016-10 - April 2016 Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing The core principle of the guidance in Topic 606 is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve that core principle, an entity should apply the following steps: 1. Identify the contract(s) with a customer. 2. Identify the performance obligations in the contract. 3. Determine the transaction price. 4. Allocate the transaction price to the performance obligations in the contract. 5. Recognize revenue when (or as) the entity satisfies a performance obligation. The amendments in this Update do not change the core principle of the guidance in Topic 606. Rather, the amendments in this Update clarify the following two aspects of Topic 606: identifying performance obligations and the licensing implementation guidance, while retaining the related principles for those areas. 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 implementation of these pronouncements would not have a material impact on the financial statements taken as a whole. |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Jun. 30, 2019 | |
Accounting Policies [Abstract] | |
Schedule of Net Earnings (Loss) Per Share | The net earnings (loss) per share is computed as follows: 2019 2018 Basic and diluted net loss per share: Numerator: Net income (loss) $ (2,929,661 ) $ (2,026,320 ) Denominator: Basic weighted average number of common shares outstanding 2,813,015,265 72,797,797 Basic net income (loss) per share $ (0.00 ) $ (0.03 ) Diluted weighted average number of common shares outstanding 2,813,015,265 72,797,797 Diluted net income (loss) per share $ (0.00 ) $ (0.03 ) |
Loans Receivable (Tables)
Loans Receivable (Tables) | 12 Months Ended |
Jun. 30, 2019 | |
Receivables [Abstract] | |
Schedule of Loans Receivable | Loans receivable consist of the following at June 30, 2019 and 2018: Loans Receivable June 30, 2019 June 30, 2018 Loan to American Laser Healthcare, Inc. $ 1,605 $ 1,065 Total $ 1,605 $ 1,065 |
Other Assets (Tables)
Other Assets (Tables) | 12 Months Ended |
Jun. 30, 2019 | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | |
Schedule of Other Assets | The Other Assets comprise of the following as of June 30, 2019 and 2018: 2019 2018 Investments $ 5,000 $ 25,005,000 Contract Assets $ - $ 697,841 Total Other Assets $ 5,000 $ 25,702,841 |
Schedule of Fair Value of Investments Marketable Equity Securities | The fair value of the marketable securities recorded as of June 30, 2019 was $ 213,485. The Company wrote off 32,900,106 shares of Myson Group, Inc. as worthless as of June 30, 2019. Securities available for sale Level 1 Level 2 Level 3 Total June 30, 2019 - $ 9,050 $ 204,435 $ 213,485 June 30, 2018 $ - $ 253,538 $ 864,945 $ 1,110,483 |
Current Liabilities (Tables)
Current Liabilities (Tables) | 12 Months Ended |
Jun. 30, 2019 | |
Payables and Accruals [Abstract] | |
Schedule of Current Liabilities | Current liabilities of the Company consist of the followings as of June 30, 2019 and 2018: June 30, 2019 June 30, 2018 Accounts payable $ 189,152 $ 116,063 Accrued expenses $ 2,389,111 $ 392,205 Notes payable (net) $ 605,603 $ 1,336,552 Due to Officers and Directors $ 890,897 $ 233,577 Other current payable $ - $ 92,781 Contract liabilities $ - $ 697,841 Derivative liabilities $ 1,307,421 $ 738,814 Advance from customers $ 438,000 $ - Sub-fund obligations $ 1,266,634 $ - Total Current Liabilities $ 7,086,819 $ 3,607,833 |
Long-Term Liabilities (Tables)
Long-Term Liabilities (Tables) | 12 Months Ended |
Jun. 30, 2019 | |
Debt Disclosure [Abstract] | |
Schedule of Long-Term Liabilities | For the FY ended June 30, 2019, the Company reclassified all Long-term Liabilities as Current Liabilities. As of June 30, 2018, Long-term liabilities consist of: June 30, 2019 June 30, 2018 Accrued Expenses: $ - $ 1,063,481 Accrued Interest: $ - $ 2,005,815 Advances from Customers: $ - $ 288,219 Demand Promissory Note: $ - 24,048,500 Liabilities from Discontinued Operations: $ - $ 1,040,037 Preferred Stock Liabilities from Discontinued Operations: $ - $ 215,000 Total Long-term Liabilities $ - $ 28,661,052 |
Due to Officers and Directors (
Due to Officers and Directors (Tables) | 12 Months Ended |
Jun. 30, 2019 | |
Related Party Transactions [Abstract] | |
Components of Due to Officers | Officers/Directors June 30, 2019 June 30, 2018 Henry Fahman 227,547 157,727 Tam Bui 663,350 63,350 Lawrence Olson - 12,500 Total $ 890,897 $ 233,577 |
Stockholder's Equity (Tables)
Stockholder's Equity (Tables) | 12 Months Ended |
Jun. 30, 2019 | |
Equity [Abstract] | |
Schedule of Common Stock Issued | During the fiscal year ended June 30, 2019, the Company issued the following amounts of its Common Stock: Date Beginning balance (7/01/18) Issuances 135,893,815 7/19/18 Einstein Investments LLC 1,951,220 137,845,035 7/19/18 Power Up Lending Group 1,200,000 139,045,035 7/23/18 Power Up Lending Group 1,805,607 140,850,642 7/26/18 JSJ Investments, Inc. 4,260,531 145,111,173 7/27/18 Crown Bridge Partners 3,356,444 148,467,617 7/30/18 Power Up Lending Group 2,061,856 150,529,473 8/2/18 Power Up Lending Group 1,491,667 152,021,140 8/6/18 Einstein Investments LLC 2,298,851 154,319,991 8/17/18 JSJ Investments, Inc. 6,971,290 161,291,281 8/23/18 Power Up Lending Group 2,205,882 163,497,163 8/27/18 Power Up Lending Group 3,066,667 166,563,830 8/31/18 Auctus Fund, LLC 1,500,000 168,063,830 8/31/18 Redchip Companies Inc. 500,000 168,563,830 8/31/18 SRS Consulting Ltd. 500,000 169,063,830 9/6/18 Adar Bays LLC 1,022,913 170,086,743 9/20/18 Einstein Investments LLC 1,734,105 171,820,848 9/21/18 Auctus Fund, LLC 1,500,000 173,320,848 9/26/18 Andreas Held 164,722 173,485,570 10/16/18 Adar Bays LLC 8,603,239 182,088,809 10/17/18 Auctus Fund, LLC 2,500,000 184,588,809 10/18/18 Crown Bridge Partners 4,500,000 189,088,809 10/22/18 Einstein Investments LLC 8,782,806 197,871,615 10/25/18 JSJ Investments, Inc. 9,044,851 206,916,466 10/26/18 Power Up Lending Group 6,097,561 213,014,027 10/29/18 Power Up Lending Group 2,518,919 215,532,946 10/29/18 Crown Bridge Partners 6,700,000 222,232,946 10/30/18 Auctus Fund, LLC 3,700,000 225,932,946 11/2/18 Adar Bays LLC 10,746,606 236,679,552 11/2/18 Crown Bridge Partners 11,270,000 247,949,552 11/6/18 Adar Bays LLC 2,464,270 250,413,822 11/7/18 JSJ Investments, Inc. 11,070,714 261,484,536 11/13/18 Auctus Fund, LLC 7,000,000 268,484,536 11/14/18 Crown Bridge Partners 10,540,000 279,024,536 11/26/18 JSJ Investments, Inc. 13,672,202 292,696,738 11/27/18 Auctus Fund, LLC 10,000,000 302,696,738 11/29/18 Crown Bridge Partners 9,093,444 311,790,182 12/4/18 Auctus Fund, LLC 15,000,000 326,790,182 12/6/18 Crown Bridge Partners 15,558,000 342,348,182 12/11/18 JSJ Investments, Inc. 15,277,718 357,625,900 12/12/18 Crown Bridge Partners 17,000,000 374,625,900 12/13/18 Auctus Fund, LLC 16,000,000 390,625,900 12/21/18 Auctus Fund, LLC 16,000,000 406,625,900 12/24/18 Crown Bridge Partners 19,492,000 426,117,900 12/31/18 Crown Bridge Partners 21,262,000 447,379,900 1/8/19 Auctus Fund, LLC 20,000,000 467,379,900 1/9/19 JSJ Investments, Inc. 19,140,669 486,520,569 1/9/19 Crown Bridge Partners 22,324,000 508,844,569 1/11/19 Power Up Lending Group 22,313,433 531,158,002 1/14/19 Power Up Lending Group 22,311,475 553,469,477 1/15/19 Power Up Lending Group 22,312,500 575,781,977 1/15/19 Crown Bridge Partners 23,000,000 598,781,977 1/15/19 Power Up Lending Group 22,310,345 621,092,322 1/15/19 Auctus Fund, LLC 25,000,000 646,092,322 1/17/19 Power Up Lending Group 22,316,327 668,408,649 1/22/19 Power Up Lending Group 22,304,348 690,712,997 1/23/19 Power Up Lending Group 33,341,463 724,054,460 1/24/19 JSJ Investments, Inc. 31,658,523 755,712,983 1/24/19 Power Up Lending Group 33,342,857 789,055,840 1/28/19 Auctus Fund, LLC 33,000,000 822,055,840 1/28/19 EMA Financial LLC 39,370,000 861,425,840 1/28/19 Power Up Lending Group 34,844,828 896,270,668 1/29/19 JSJ Investments, Inc. 38,663,736 934,934,404 2/4/19 Auctus Fund, LLC 39,373,800 974,308,204 2/4/19 JSJ Investments, Inc. 45,811,785 1,020,119,989 2/4/19 ONE44 Capital LLC 45,955,682 1,066,075,671 2/7/19 EMA Financial LLC 53,000,000 1,119,075,671 2/8/19 Auctus Fund, LLC 37,070,000 1,156,145,671 2/8/19 JSJ Investments, Inc. 52,237,707 1,208,383,378 2/20/19 Power Up Lending Group 60,264,706 1,268,648,084 2/21/19 Auctus Fund, LLC 63,000,000 1,331,648,084 2/21/19 EMA Financial LLC 63,300,000 1,394,948,084 2/21/19 Power Up Lending Group 60,235,294 1,455,183,378 2/25/19 Power Up Lending Group 72,588,235 1,527,771,613 2/25/19 Andreas Held 9,722,222 1,537,493,835 2/26/19 JSJ Investments, Inc. 65,250,756 1,602,744,591 2/26/19 Auctus Fund, LLC 79,900,000 1,682,644,591 2/28/19 Power Up Lending Group 55,791,667 1,738,436,258 2/28/19 EMA Financial LLC 79,900,000 1,818,336,258 2/28/19 ONE44 Capital LLC 80,924,545 1,899,260,803 2/28/19 JSJ Investments, Inc. 78,534,484 1,977,795,287 3/4/19 Crown Bridge Partners 90,000,000 2,067,795,287 3/4/19 Power Up Lending Group 72,583,333 2,140,378,620 3/5/19 Power Up Lending Group 72,500,000 2,212,878,620 3/5/19 EMA Financial LLC 98,600,000 2,311,478,620 3/5/19 Crown Bridge Partners 89,986,285 2,401,464,905 3/6/19 ONE44 Capital LLC 86,816,909 2,488,281,814 3/7/19 LG Capital Funding LLC 124,266,800 2,612,548,614 3/7/19 JSJ Investments, Inc. 104,878,552 2,717,427,166 3/8/19 Auctus Fund, LLC 124,100,000 2,841,527,166 3/8/19 Power Up Lending Group 106,666,667 2,948,193,833 3/11/19 ONE44 Capital LLC 146,851,273 3,095,045,106 3/12/19 Crown Bridge Partners 153,000,000 3,248,045,106 3/12/19 EMA Financial LLC 154,000,000 3,402,045,106 3/12/19 Power Up Lending Group 87,333,333 3,489,378,439 3/14/19 EMA Financial LLC 174,000,000 3,663,378,439 3/14/19 ONE44 Capital LLC 162,434,909 3,825,813,348 3/18/19 Crown Bridge Partners 190,000,000 4,015,813,348 3/19/19 Power Up Lending Group 143,833,333 4,159,646,681 3/19/19 LG Capital Funding LLC 200,628,400 4,360,275,081 3/19/19 JSJ Investments, Inc. 187,464,854 4,547,739,935 3/20/19 Auctus Fund, LLC 200,389,000 4,748,128,935 3/20/19 Crown Bridge Partners 200,000,000 4,948,128,935 3/20/19 EMA Financial LLC 226,900,000 5,175,028,935 3/22/19 Power Up Lending Group 190,833,333 5,365,862,268 3/25/19 Power Up Lending Group 267,666,667 5,633,528,935 3/25/19 Crown Bridge Partners 258,000,000 5,891,528,935 3/27/19 Crown Bridge Partners 293,000,000 6,184,528,935 3/28/19 Power Up Lending Group 178,833,333 6,363,362,268 3/28/19 Auctus Fund, LLC 93,212,950 6,456,575,218 3/28/19 ONE44 Capital LLC 304,693,455 6,761,268,673 4/1/19 Power Up Lending Group 337,333,333 7,098,602,006 4/2/19 JSJ Investments, Inc. 262,927,251 7,361,529,257 4/2/19 Power Up Lending Group 237,333,333 7,598,862,590 4/3/19 Auctus Fund, LLC 337,387,300 7,936,249,890 4/24/19 Andreas Held 11,666,667 7,947,916,557 4/29/19 Power Up Lending Group 84,000,000 8,031,916,557 4/30/19 LG Capital Funding LLC 400,958,800 8,432,875,357 5/9/19 JSJ Investments, Inc. 413,210,892 8,846,086,249 5/21/19 ONE44 Capital LLC 419,103,273 9,265,189,522 5/24/19 Crown Bridge Partners 277,000,000 9,542,189,522 6/12/19 JSJ Investments, Inc. 467,567,286 10,009,756,808 |
Stock-Based Compensation Plan (
Stock-Based Compensation Plan (Tables) | 12 Months Ended |
Jun. 30, 2019 | |
Share-based Payment Arrangement [Abstract] | |
Schedule of Fair Value of Stock Option Assumptions | The following assumptions were used in the Monte Carlo analysis by Doty Scott Enterprises, Inc., an independent valuation firm, to determine the fair value of the stock options: Risk-free interest rate 1.18 % Expected life 7 years Expected volatility 239.3 % |
Schedule of Fair Value of Stock Option Issuance Date | The fair value of the Company’s Stock Options as of issuance valuation date is as follows: Holder Issue Date Maturity Date Stock Options Exercise Price Fair Value at Issuance Tam Bui 9/23/2016 9/23/2023 875,000 Fixed price: $0.24 $ 219,464 Frank Hawkins 9/23/2016 9/23/2023 875,000 Fixed price: $0.24 $ 219,464 Henry Fahman 9/23/2016 9/23/2023 4,770,000 Fixed price: $0.24 $ 1,187,984 |
Other Income (Expense) (Tables)
Other Income (Expense) (Tables) | 12 Months Ended |
Jun. 30, 2019 | |
Other Income and Expenses [Abstract] | |
Schedule of Other Income (Expense) | Net Other Income (Expense) for the fiscal year ended June 30, 2019 consists of the following: OTHER INCOME (EXPENSES) FY ended June 30, 2019 Interest expense (1,897,979 ) Net other income/expense 1,378,531 NET OTHER INCOME (EXPENSES) (519,448 ) |
Subsequent Event (Tables)
Subsequent Event (Tables) | 12 Months Ended |
Jun. 30, 2019 | |
Subsequent Events [Abstract] | |
Schedule of Conversion of Notes to Common Stock | From July 01, 2019 through March 09, 2021, the Company issued the following amounts of stock to holders of convertible promissory notes and shareholders: SHARES ISSUED FROM JULY 01, 2019 THROUGH MARCH 09, 2021 DATE NAME AMOUNT OF SHARES CONSIDERATIONS 7/19/19 ANDREAS HELD 20,000,000 Cash 7/25/19 JSJ INVESTMENTS, INC. 491,458,083 Note conversion 8/16/19 JSJ INVESTMENTS, INC. 212,148,000 Note conversion 8/22/19 JSJ INVESTMENTS, INC. 525,934,781 Note conversion 8/29/19 CROWN BRIDGE PARTNERS LLC 525,000,000 Note conversion 9/4/19 AUCTUS FUND, LLC 224,451,600 Note conversion 9/5/19 ADAR ALEF LLC 599,230,769 Note conversion 9/6/19 JSJ INVESTMENTS, INC. 588,428,714 Note conversion 5/14/20 ANDREAS HELD 16,000,000 Cash 6/10/20 ANDREAS HELD 20,000,000 Cash 8/7/20 ONE44 CAPITAL LLC 239,611,455 Note conversion 12/2/20 ADAR ALEF LLC 318,050,962 Note conversion 12/3/20 ONE44 CAPITAL LLC 154,538,182 Note conversion 12/15/20 ONE44 CAPITAL LLC 163,666,182 Note conversion 12/22/20 JSJ INVESTMENTS, INC. 100,000,000 Note conversion 12/24/20 ONE44 CAPITAL LLC 155,732,187 Note conversion 12/30/20 JSJ INVESTMENTS, INC. 100,000,000 Note conversion 1/4/21 ONE44 CAPITAL LLC 170,025,603 Note conversion 1/8/21 JSJ INVESTMENTS, INC. 100,000,000 Note conversion 1/8/21 EMA FINANCIAL LLC 200,000,000 Note conversion 1/12/21 ONE44 CAPITAL LLC 200,308,909 Note conversion 1/15/21 JSJ INVESTMENTS, INC. 100,000,000 Note conversion 1/21/21 EMA FINANCIAL LLC 250,000,000 Note conversion 1/22/21 ONE44 CAPITAL LLC 323,442,182 Note conversion 1/25/21 JSJ INVESTMENTS, INC. 100,000,000 Note conversion 1/26/21 JSJ INVESTMENTS, INC. 200,000,000 Note conversion 2/3/21 ONE44 CAPITAL LLC 246,027,364 Note conversion 2/9/21 JSJ INVESTMENTS, INC. 571,064,466 Note conversion 2/9/21 CROWN BRIDGE PARTNERS LLC 216,393,200 Note conversion 2/9/21 CROWN BRIDGE PARTNERS LLC 238,365,100 Note conversion 2/22/21 EMA FINANCIAL LLC 200,000,000 Note conversion 2/23/21 EMA FINANCIAL LLC 650,000,000 Note conversion 2/24/21 JSJ INVESTMENTS, INC. 135,896,680 Note conversion 2/26/21 EMA FINANCIAL LLC 850,000,000 Note conversion 3/04/21 EMA FINANCIAL LLC 800,000,000 Note conversion TOTAL ISSUED 10,009,756,808. |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies (Details Narrative) | 12 Months Ended | |
Jun. 30, 2019USD ($)d | Jun. 30, 2018USD ($)d | |
Maximum percentage of outstanding common stock and stock equivalents of investee | 20.00% | |
Marketable securities | $ 213,485 | $ 1,100,483 |
Accounts receivable, write off | 432,000 | |
Advertising costs | 50,377 | 36,221 |
Increase in advertising expenses | 31,507 | |
Accumulated other comprehensive income (loss) | $ 751,962 | |
Number of reportable segment | d | 1 | 2 |
Minimum [Member] | ||
Property and equipment, estimated useful lives of assets | 3 years | |
Maximum [Member] | ||
Property and equipment, estimated useful lives of assets | 10 years | |
American Pacific Resources, Inc [Memmber] | ||
Percentage of ownership | 100.00% | |
PHI Capital Holdings, Inc [Member] | ||
Percentage of ownership | 100.00% | |
PHI Luxembourg Development S.A [Memmber] | ||
Percentage of ownership | 100.00% |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies - Schedule of Net Earnings (Loss) Per Share (Details) - USD ($) | 12 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Accounting Policies [Abstract] | ||
Net income (loss) | $ (2,929,661) | $ (2,026,320) |
Basic weighted average number of common shares outstanding | 2,813,015,265 | 72,797,797 |
Basic net income (loss) per share | $ 0 | $ (0.03) |
Diluted weighted average number of common shares outstanding | 2,813,015,265 | 72,797,797 |
Diluted net income (loss) per share | $ 0 | $ (0.03) |
Loans Receivable - Schedule of
Loans Receivable - Schedule of Loans Receivable (Details) - USD ($) | Jun. 30, 2019 | Jun. 30, 2018 |
Loans receivable from related parties | $ 1,605 | $ 1,605 |
American Laser Healthcare, Inc [Member] | ||
Loans receivable from related parties | $ 1,605 | $ 1,605 |
Other Assets (Details Narrative
Other Assets (Details Narrative) - USD ($) | Jun. 30, 2019 | Jun. 30, 2018 |
Investments | $ 5,000 | $ 25,005,000 |
Maximum percentage of outstanding common stock and stock equivalents of investee | 20.00% | |
Marketable securities, fair value | $ 213,485 | $ 1,100,483 |
Myson Group, Inc [Member] | ||
Number of shares written off | 32,900,106 | |
Myson Group, Inc [Member] | OTC Markets [Member] | ||
Number of marketable securities available for sale | 905,000 | |
Sports Pouch Beverage Co [Member] | OTC Markets [Member] | ||
Number of marketable securities available for sale | 292,050,000 | |
Aquarius Power Inc [Member] | ||
Investments | $ 5,000 |
Other Assets - Schedule of Othe
Other Assets - Schedule of Other Assets (Details) - USD ($) | Jun. 30, 2019 | Jun. 30, 2018 |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | ||
Investments | $ 5,000 | $ 25,005,000 |
Contract Assets | 697,841 | |
Total Other Assets | $ 5,000 | $ 25,702,841 |
Other Assets - Schedule of Fair
Other Assets - Schedule of Fair value of Investments Marketable Equity Securities (Details) - USD ($) | Jun. 30, 2019 | Jun. 30, 2018 |
Marketable securities | $ 213,485 | $ 1,100,483 |
Level 1 [Member] | ||
Marketable securities | ||
Level 2 [Member] | ||
Marketable securities | 9,050 | 253,538 |
Level 3 [Member] | ||
Marketable securities | $ 204,435 | $ 864,945 |
Property and Equipment (Details
Property and Equipment (Details Narrative) - USD ($) | 12 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2019 | |
Liabilities from discontinued operations | $ 1,040,037 | |
Contingency liabilities | 85,700 | |
Discontinued Operations [Member] | ||
Liabilities from discontinued operations | 1,255,037 | |
Philand Ranch Ltd [Member] | ||
Liabilities from discontinued operations | 954,337 | |
Providential Holdings, Inc [Member] | ||
Liabilities from discontinued operations | $ 215,000 |
Current Liabilities (Details Na
Current Liabilities (Details Narrative) - USD ($) | Jun. 30, 2019 | Jun. 30, 2018 |
Accrued salaries | $ 1,237,651 | |
Accrued interest | 149,781 | |
Notes payable | 605,603 | $ 1,336,552 |
Discount on notes payable | 163,822 | |
Advance from customers | 438,000 | |
Consulting fees reserved | 288,219 | |
Sub-fund obligations | $ 1,266,634 | |
Ownership percentage of sub-fund participants | 49.00% | |
European Plastic Joint Stock Company [Member] | ||
Sub-fund obligations | $ 800,000 | |
Contribution for ownership percentage | 2,000,000 | |
Saigon Pho Palace Joint Stock Company [Member] | ||
Sub-fund obligations | 466,634 | |
Contribution for ownership percentage | 2,000,000 | |
Short-term Notes [Member] | ||
Accrued interest | 1,151,949 | |
Notes payable | 331,700 | |
Convertible Promissory Notes [Member] | ||
Notes payable | 437,725 | |
Discount on notes payable | $ 163,822 |
Current Liabilities - Schedule
Current Liabilities - Schedule of Current Liabilities (Details) - USD ($) | Jun. 30, 2019 | Jun. 30, 2018 |
Payables and Accruals [Abstract] | ||
Accounts payable | $ 189,152 | $ 116,063 |
Accrued expenses | 2,389,111 | 392,205 |
Notes payable (net) | 605,603 | 1,336,552 |
Due to Officers and Directors | 890,897 | 233,577 |
Other current payable | 92,781 | |
Contract liabilities | 697,841 | |
Derivative liabilities | 1,307,421 | 738,814 |
Advance from customers | 438,000 | |
Sub-fund obligations | 1,266,634 | |
Total current liabilities | $ 7,086,819 | $ 3,607,833 |
Long-Term Liabilities (Details
Long-Term Liabilities (Details Narrative) | Jun. 30, 2019USD ($) | Jun. 30, 2018USD ($)a |
Extinguishment of liabilities from discontinued operations | $ 1,040,037 | |
Preferred stock liabilities from discontinued operations | $ 215,000 | |
Rush Gold Royalty Inc [Member] | ||
Debt face amount | $ 240,485,000 | |
Acquisition of ownership | 51.00% | |
Area of land | a | 400 | |
Providential Securities, Inc [Member] | ||
Preferred stock liabilities from discontinued operations | $ 215,000 |
Long-Term Liabilities - Schedul
Long-Term Liabilities - Schedule of Long-Term Liabilities (Details) - USD ($) | Jun. 30, 2019 | Jun. 30, 2018 |
Debt Disclosure [Abstract] | ||
Accrued Expenses: | $ 1,063,481 | |
Accrued Interest: | 2,005,815 | |
Advances from Customers: | 288,219 | |
Demand Promissory Note: | 24,048,500 | |
Liabilities from Discontinued Operations: | 1,040,037 | |
Preferred Stock Liabilities from Discontinued Operations: | 215,000 | |
Total Long-term Liabilities | $ 28,661,052 |
Due to Officers and Directors_2
Due to Officers and Directors (Details Narrative) - USD ($) | Jun. 30, 2019 | Jun. 30, 2018 |
Related Party Transactions [Abstract] | ||
Due to Officers/Directors | $ 890,897 | $ 233,577 |
Due to Officers and Directors -
Due to Officers and Directors - Components of Due to Officers (Details) - USD ($) | Jun. 30, 2019 | Jun. 30, 2018 |
Due to Officers/Directors | $ 890,897 | $ 233,577 |
Henry Fahman [Member] | ||
Due to Officers/Directors | 227,547 | 157,727 |
Tam Bui [Member] | ||
Due to Officers/Directors | 663,350 | 63,350 |
Lawrence Olson [Member] | ||
Due to Officers/Directors | $ 12,500 |
Loans and Promissory Notes (Det
Loans and Promissory Notes (Details Narrative) - USD ($) | Jun. 30, 2019 | Jun. 30, 2018 |
Notes payable | $ 605,603 | $ 1,336,552 |
Outstanding convertible note | 437,725 | |
Discount on notes | 163,822 | |
Derivative liabilities - Net | $ 1,307,421 | $ 738,814 |
Minimum [Member] | ||
Percentage of interest per annum on short-term notes payable | 0.00% | |
Maximum [Member] | ||
Percentage of interest per annum on short-term notes payable | 36.00% | |
Short-term Notes Payable [Member] | ||
Notes payable | $ 331,700 | |
Accrued interest on notes payable | $ 1,151,460 |
Litigation - Extinguishment o_2
Litigation - Extinguishment of Settled Litigations (Details Narrative) - USD ($) | Jul. 09, 2012 | Oct. 31, 2000 | Jun. 30, 2019 | Jun. 30, 2018 |
Costs incurred in breach of contract for damages | $ 75,000 | |||
Legal costs | $ 2,500 | |||
Accrued litigation amount | 79,000 | |||
Accrued potential liabilities | 172,091 | |||
Accrued Liabilities [Member] | ||||
Accrued potential liabilities | $ 90,000 | |||
William Davidson [Member] | ||||
Settlement agreement amount | $ 200,000 | |||
Case No. 00CC13067 [Member] | ||||
Extinguishment of litigation settlement | 172,091 | |||
Case No. BC 426831 [Member] | ||||
Extinguishment of litigation settlement | $ 90,000 |
Payroll Tax Liabilities (Detail
Payroll Tax Liabilities (Details Narrative) - USD ($) | 12 Months Ended | |
Jun. 30, 2014 | Mar. 05, 2021 | |
Penalties, interest and tax | $ 118,399 | |
Internal Revenue Service [Member] | ||
Penalties, interest and tax | 41,974 | |
Internal Revenue Service [Member] | Subsequent Event [Member] | ||
Payroll tax liabilities | $ 4,704 | |
State of California Employment Development Department [Member] | ||
Penalties, interest and tax | $ 19,290 |
Stockholder's Equity (Details N
Stockholder's Equity (Details Narrative) | 12 Months Ended | ||||||||||||
Jun. 30, 2019USD ($)d$ / sharesshares | Jun. 25, 2020$ / sharesshares | Mar. 29, 2019$ / sharesshares | Feb. 27, 2019$ / sharesshares | Feb. 19, 2019$ / sharesshares | Jan. 03, 2019$ / sharesshares | Nov. 27, 2018$ / sharesshares | Nov. 08, 2018$ / sharesshares | Oct. 29, 2018$ / sharesshares | Jun. 30, 2018USD ($)$ / sharesshares | Sep. 20, 2017$ / sharesshares | Apr. 14, 2009$ / shares | Apr. 13, 2009$ / shares | |
Number of authorized capital stock, par value | $ / shares | $ 0.001 | ||||||||||||
Common stock voting, shares authorized | 30,500,000,000 | ||||||||||||
Common stock, par value | $ / shares | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.04 | ||
Preferred stock, shares authorized | 100,000,000 | 500,000,000 | 200,000,000 | 200,000,000 | 100,000,000 | 200,000,000 | 200,000,000 | 200,000,000 | 100,000,000 | ||||
Preferred stock, par value | $ / shares | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | ||||
Treasury stock, shares | 484,767 | 484,767 | |||||||||||
Treasury stock, value | $ | $ 44,170 | $ 44,170 | |||||||||||
Common stock, shares issued | 1,009,756,808 | 135,893,815 | |||||||||||
Common stock, shares outstanding | 1,009,756,808 | 135,893,815 | |||||||||||
Debt description | Each share of the Class A Preferred Stock, either Series I or Series II shall be convertible into the Company's Common Stock any time after two years from the date of issuance at a Variable Conversion Price (as defined herein) of the Common Stock. The "Variable Conversion Price" shall mean 75% multiplied by the Market Price (as defined herein) (representing a discount rate of 25%). "Market Price" means the average Trading Price for the Company's Common Stock during the ten (10) trading-day period ending one trading day prior to the date the Conversion Notice is sent by the Holder of the Class A Preferred Stock to the Company via facsimile or email (the "Conversion Date"). "Trading Price" means, for any security as of any date, the closing price on the OTC Markets, OTCQB, NASDAQ Stock Markets, or applicable trading market as reported by a reliable reporting service ("Reporting Service") mutually acceptable to the Company and Holder of the Class A Preferred Stock. | ||||||||||||
Debt trading days | d | 10 | ||||||||||||
Common stock, shares authorized | 30,500,000,000 | 31,000,000,000 | 15,000,000,000 | 10,000,000,000 | 7,000,000,000 | 5,000,000,000 | 4,000,000,000 | 3,000,000,000 | 1,900,000,000 | ||||
State Of Wyoming [Member] | |||||||||||||
Common stock voting, shares authorized | 40,000,000,000 | 900,000,000 | |||||||||||
Common stock, par value | $ / shares | $ 0 | $ 0.001 | |||||||||||
American Pacific Plastics, Inc [Member] | |||||||||||||
Debt conversion percentage | 80.00% | ||||||||||||
Debt conversion of common stock shares issued | 50,000,000 | ||||||||||||
Subsidiary [Member] | |||||||||||||
Debt description | Alternatively, each share of the Class A Preferred Stock, either Series I or Series II, may be convertible into Common Stock of a subsidiary of PHI Group, Inc.'s, to be determined by the Company's Board of Directors, any time after such subsidiary has become a fully-reporting publicly traded company for at least three months, at a Variable Conversion Price (as defined herein). The Variable Conversion Price to be used in connection with the conversion into Common Stock of a subsidiary of PHI Group, Inc.'s shall mean 50% multiplied by the Market Price (as defined herein), representing a discount rate of 50%, of that Common Stock. "Market Price" means the average Trading Price for the Common Stock of said subsidiary of PHI Group, Inc.'s during the ten (10) trading-day period ending one trading day prior to the date the Conversion Notice is sent by the Holder of the Preferred Stock to the Company via facsimile or email (the "Conversion Date"). "Trading Price" means, for any security as of any date, the closing price on the OTC Markets, OTCQB, NASDAQ Stock Markets, NYSE or applicable trading market as reported by a reliable reporting service ("Reporting Service") mutually acceptable to the Company, said subsidiary and Holder of the Class A Preferred Stock." | ||||||||||||
Class A Series I Cumulative Convertible Redeemable Preferred Stock [Member] | |||||||||||||
Preferred stock, shares authorized | 20,000,000 | ||||||||||||
Preferred stock, par value | $ / shares | $ 0.001 | ||||||||||||
Preferred stock, shares designated | 20,000,000 | ||||||||||||
Percentage of non-compounding cumulative dividends per annum | 10.00% | ||||||||||||
Class A Series I Cumulative Convertible Redeemable Preferred Stock [Member] | Previously Authorized [Member] | |||||||||||||
Preferred stock, shares authorized | 500,000,000 | ||||||||||||
Class A Series II Cumulative Convertible Redeemable Preferred Stock [Member] | |||||||||||||
Preferred stock, shares authorized | 25,000,000 | ||||||||||||
Preferred stock, par value | $ / shares | $ 0.001 | ||||||||||||
Preferred stock, shares designated | 25,000,000 | ||||||||||||
Percentage of non-compounding cumulative dividends per annum | 8.00% | ||||||||||||
Class A Series II Cumulative Convertible Redeemable Preferred Stock [Member] | Previously Authorized [Member] | |||||||||||||
Preferred stock, shares authorized | 500,000,000 | ||||||||||||
Class A Series III Cumulative Convertible Redeemable Preferred Stock [Member] | |||||||||||||
Preferred stock, shares authorized | 50,000,000 | ||||||||||||
Preferred stock, par value | $ / shares | $ 0.001 | ||||||||||||
Preferred stock, shares designated | 50,000,000 | ||||||||||||
Percentage of non-compounding cumulative dividends per annum | 8.00% | ||||||||||||
Class A Series III Cumulative Convertible Redeemable Preferred Stock [Member] | Previously Authorized [Member] | |||||||||||||
Preferred stock, shares authorized | 500,000,000 | ||||||||||||
Class B Series I Preferred Stock [Member] | |||||||||||||
Preferred stock, shares authorized | 500,000,000 | ||||||||||||
Preferred stock, par value | $ / shares | $ 0.001 | ||||||||||||
Preferred stock, shares issued | 120,000 | ||||||||||||
Preferred stock, shares outstanding | 120,000 | ||||||||||||
Class A Series II Preferred Stock [Member] | |||||||||||||
Preferred stock, shares issued | 10,000,000 | ||||||||||||
Preferred stock, shares outstanding | 10,000,000 | ||||||||||||
Common Stock [Member] | |||||||||||||
Common stock, par value | $ / shares | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | ||||||
Common stock, shares authorized | 30,500,000,000 | 14,800,000,000 | 9,800,000,000 | 6,900,000,000 | 4,800,000,000 | 3,800,000,000 | 2,800,000,000 | ||||||
Non-voting Class A Series I Preferred Stock [Member] | |||||||||||||
Preferred stock, shares authorized | 50,000,000 | ||||||||||||
Preferred stock, par value | $ / shares | $ 5 | ||||||||||||
Non-voting Class A Series II Preferred Stock [Member] | |||||||||||||
Preferred stock, shares authorized | 25,000,000 | ||||||||||||
Preferred stock, par value | $ / shares | $ 5 | ||||||||||||
Non-voting Class A Series III Preferred Stock [Member] | |||||||||||||
Preferred stock, shares authorized | 20,000,000 | ||||||||||||
Preferred stock, par value | $ / shares | $ 5 | ||||||||||||
Voting Class A Series IV Preferred Stock [Member] | |||||||||||||
Preferred stock, shares authorized | 5,000,000 | ||||||||||||
Preferred stock, par value | $ / shares | $ 5 | ||||||||||||
Preferred Stock [Member] | |||||||||||||
Preferred stock, shares authorized | 500,000,000 | ||||||||||||
Preferred stock, par value | $ / shares | $ 0.001 |
Stockholder's Equity - Schedule
Stockholder's Equity - Schedule of Common Stock Issued (Details) | 12 Months Ended |
Jun. 30, 2019USD ($)shares | |
Common Stock One [Member] | |
Common Stock Issuance Date | Jul. 19, 2018 |
Common Stock Holders | Einstein Investments LLC |
Shares Issuances | shares | 1,951,220 |
Shares Issuances, Value | $ | $ 137,845,035 |
Common Stock Two [Member] | |
Common Stock Issuance Date | Jul. 19, 2018 |
Common Stock Holders | Power Up Lending Group |
Shares Issuances | shares | 1,200,000 |
Shares Issuances, Value | $ | $ 139,045,035 |
Common Stock Three [Member] | |
Common Stock Issuance Date | Jul. 23, 2018 |
Common Stock Holders | Power Up Lending Group |
Shares Issuances | shares | 1,805,607 |
Shares Issuances, Value | $ | $ 140,850,642 |
Common Stock Four [Member] | |
Common Stock Issuance Date | Jul. 26, 2018 |
Common Stock Holders | JSJ Investments, Inc. |
Shares Issuances | shares | 4,260,531 |
Shares Issuances, Value | $ | $ 145,111,173 |
Common Stock Five [Member] | |
Common Stock Issuance Date | Jul. 27, 2018 |
Common Stock Holders | Crown Bridge Partners |
Shares Issuances | shares | 3,356,444 |
Shares Issuances, Value | $ | $ 148,467,617 |
Common Stock Six [Member] | |
Common Stock Issuance Date | Jul. 30, 2018 |
Common Stock Holders | Power Up Lending Group |
Shares Issuances | shares | 2,061,856 |
Shares Issuances, Value | $ | $ 150,529,473 |
Common Stock Seven [Member] | |
Common Stock Issuance Date | Aug. 2, 2018 |
Common Stock Holders | Power Up Lending Group |
Shares Issuances | shares | 1,491,667 |
Shares Issuances, Value | $ | $ 152,021,140 |
Common Stock Eight [Member] | |
Common Stock Issuance Date | Aug. 6, 2018 |
Common Stock Holders | Einstein Investments LLC |
Shares Issuances | shares | 2,298,851 |
Shares Issuances, Value | $ | $ 154,319,991 |
Common Stock Nine [Member] | |
Common Stock Issuance Date | Aug. 17, 2018 |
Common Stock Holders | JSJ Investments, Inc. |
Shares Issuances | shares | 6,971,290 |
Shares Issuances, Value | $ | $ 161,291,281 |
Common Stock Ten [Member] | |
Common Stock Issuance Date | Aug. 23, 2018 |
Common Stock Holders | Power Up Lending Group |
Shares Issuances | shares | 2,205,882 |
Shares Issuances, Value | $ | $ 163,497,163 |
Common Stock Eleven [Member] | |
Common Stock Issuance Date | Aug. 27, 2018 |
Common Stock Holders | Power Up Lending Group |
Shares Issuances | shares | 3,066,667 |
Shares Issuances, Value | $ | $ 166,563,830 |
Common Stock Twelve [Member] | |
Common Stock Issuance Date | Aug. 31, 2018 |
Common Stock Holders | Auctus Fund, LLC |
Shares Issuances | shares | 1,500,000 |
Shares Issuances, Value | $ | $ 168,063,830 |
Common Stock Thirteen [Member] | |
Common Stock Issuance Date | Aug. 31, 2018 |
Common Stock Holders | Redchip Companies Inc. |
Shares Issuances | shares | 500,000 |
Shares Issuances, Value | $ | $ 168,563,830 |
Common Stock Fourteen [Member] | |
Common Stock Issuance Date | Aug. 31, 2018 |
Common Stock Holders | SRS Consulting Ltd. |
Shares Issuances | shares | 500,000 |
Shares Issuances, Value | $ | $ 169,063,830 |
Common Stock Fifteen [Member] | |
Common Stock Issuance Date | Sep. 6, 2018 |
Common Stock Holders | Adar Bays LLC |
Shares Issuances | shares | 1,022,913 |
Shares Issuances, Value | $ | $ 170,086,743 |
Common Stock Sixteen [Member] | |
Common Stock Issuance Date | Sep. 20, 2018 |
Common Stock Holders | Einstein Investments LLC |
Shares Issuances | shares | 1,734,105 |
Shares Issuances, Value | $ | $ 171,820,848 |
Common Stock Seventeen [Member] | |
Common Stock Issuance Date | Sep. 21, 2018 |
Common Stock Holders | Auctus Fund, LLC |
Shares Issuances | shares | 1,500,000 |
Shares Issuances, Value | $ | $ 173,320,848 |
Common Stock Eighteen [Member] | |
Common Stock Issuance Date | Sep. 26, 2018 |
Common Stock Holders | Andreas Held |
Shares Issuances | shares | 164,722 |
Shares Issuances, Value | $ | $ 173,485,570 |
Common Stock Nineteen [Member] | |
Common Stock Issuance Date | Oct. 16, 2018 |
Common Stock Holders | Adar Bays LLC |
Shares Issuances | shares | 8,603,239 |
Shares Issuances, Value | $ | $ 182,088,809 |
Common Stock Twenty [Member] | |
Common Stock Issuance Date | Oct. 17, 2018 |
Common Stock Holders | Auctus Fund, LLC |
Shares Issuances | shares | 2,500,000 |
Shares Issuances, Value | $ | $ 184,588,809 |
Common Stock Twenty One [Member] | |
Common Stock Issuance Date | Oct. 18, 2018 |
Common Stock Holders | Crown Bridge Partners |
Shares Issuances | shares | 4,500,000 |
Shares Issuances, Value | $ | $ 189,088,809 |
Common Stock Twenty Two [Member] | |
Common Stock Issuance Date | Oct. 22, 2018 |
Common Stock Holders | Einstein Investments LLC |
Shares Issuances | shares | 8,782,806 |
Shares Issuances, Value | $ | $ 197,871,615 |
Common Stock Twenty Three [Member] | |
Common Stock Issuance Date | Oct. 25, 2018 |
Common Stock Holders | JSJ Investments, Inc. |
Shares Issuances | shares | 9,044,851 |
Shares Issuances, Value | $ | $ 206,916,466 |
Common Stock Twenty Four [Member] | |
Common Stock Issuance Date | Oct. 26, 2018 |
Common Stock Holders | Power Up Lending Group |
Shares Issuances | shares | 6,097,561 |
Shares Issuances, Value | $ | $ 213,014,027 |
Common Stock Twenty Five [Member] | |
Common Stock Issuance Date | Oct. 29, 2018 |
Common Stock Holders | Power Up Lending Group |
Shares Issuances | shares | 2,518,919 |
Shares Issuances, Value | $ | $ 215,532,946 |
Common Stock Twenty Six [Member] | |
Common Stock Issuance Date | Oct. 29, 2018 |
Common Stock Holders | Crown Bridge Partners |
Shares Issuances | shares | 6,700,000 |
Shares Issuances, Value | $ | $ 222,232,946 |
Common Stock Twenty Seven [Member] | |
Common Stock Issuance Date | Oct. 30, 2018 |
Common Stock Holders | Auctus Fund, LLC |
Shares Issuances | shares | 3,700,000 |
Shares Issuances, Value | $ | $ 225,932,946 |
Common Stock Twenty Eight [Member] | |
Common Stock Issuance Date | Nov. 2, 2018 |
Common Stock Holders | Adar Bays LLC |
Shares Issuances | shares | 10,746,606 |
Shares Issuances, Value | $ | $ 236,679,552 |
Common Stock Twenty Nine [Member] | |
Common Stock Issuance Date | Nov. 2, 2018 |
Common Stock Holders | Crown Bridge Partners |
Shares Issuances | shares | 11,270,000 |
Shares Issuances, Value | $ | $ 247,949,552 |
Common Stock Thirty [Member] | |
Common Stock Issuance Date | Nov. 6, 2018 |
Common Stock Holders | Adar Bays LLC |
Shares Issuances | shares | 2,464,270 |
Shares Issuances, Value | $ | $ 250,413,822 |
Common Stock Thirty One [Member] | |
Common Stock Issuance Date | Nov. 7, 2018 |
Common Stock Holders | JSJ Investments, Inc. |
Shares Issuances | shares | 11,070,714 |
Shares Issuances, Value | $ | $ 261,484,536 |
Common Stock Thirty Two [Member] | |
Common Stock Issuance Date | Nov. 13, 2018 |
Common Stock Holders | Auctus Fund, LLC |
Shares Issuances | shares | 7,000,000 |
Shares Issuances, Value | $ | $ 268,484,536 |
Common Stock Thirty Three [Member] | |
Common Stock Issuance Date | Nov. 14, 2018 |
Common Stock Holders | Crown Bridge Partners |
Shares Issuances | shares | 10,540,000 |
Shares Issuances, Value | $ | $ 279,024,536 |
Common Stock Thirty Four [Member] | |
Common Stock Issuance Date | Nov. 26, 2018 |
Common Stock Holders | JSJ Investments, Inc. |
Shares Issuances | shares | 13,672,202 |
Shares Issuances, Value | $ | $ 292,696,738 |
Common Stock Thirty Five [Member] | |
Common Stock Issuance Date | Nov. 27, 2018 |
Common Stock Holders | Auctus Fund, LLC |
Shares Issuances | shares | 10,000,000 |
Shares Issuances, Value | $ | $ 302,696,738 |
Common Stock Thirty Six [Member] | |
Common Stock Issuance Date | Nov. 29, 2018 |
Common Stock Holders | Crown Bridge Partners |
Shares Issuances | shares | 9,093,444 |
Shares Issuances, Value | $ | $ 311,790,182 |
Common Stock Thirty Seven [Member] | |
Common Stock Issuance Date | Dec. 4, 2018 |
Common Stock Holders | Auctus Fund, LLC |
Shares Issuances | shares | 15,000,000 |
Shares Issuances, Value | $ | $ 326,790,182 |
Common Stock Thirty Eight [Member] | |
Common Stock Issuance Date | Dec. 6, 2018 |
Common Stock Holders | Crown Bridge Partners |
Shares Issuances | shares | 15,558,000 |
Shares Issuances, Value | $ | $ 342,348,182 |
Common Stock Thirty Nine [Member] | |
Common Stock Issuance Date | Dec. 11, 2018 |
Common Stock Holders | JSJ Investments, Inc. |
Shares Issuances | shares | 15,277,718 |
Shares Issuances, Value | $ | $ 357,625,900 |
Common Stock Forty [Member] | |
Common Stock Issuance Date | Dec. 12, 2018 |
Common Stock Holders | Crown Bridge Partners |
Shares Issuances | shares | 17,000,000 |
Shares Issuances, Value | $ | $ 374,625,900 |
Common Stock Forty One [Member] | |
Common Stock Issuance Date | Dec. 13, 2018 |
Common Stock Holders | Auctus Fund, LLC |
Shares Issuances | shares | 16,000,000 |
Shares Issuances, Value | $ | $ 390,625,900 |
Common Stock Forty Two [Member] | |
Common Stock Issuance Date | Dec. 21, 2018 |
Common Stock Holders | Auctus Fund, LLC |
Shares Issuances | shares | 16,000,000 |
Shares Issuances, Value | $ | $ 406,625,900 |
Common Stock Forty Three [Member] | |
Common Stock Issuance Date | Dec. 24, 2018 |
Common Stock Holders | Crown Bridge Partners |
Shares Issuances | shares | 19,492,000 |
Shares Issuances, Value | $ | $ 426,117,900 |
Common Stock Forty Four [Member] | |
Common Stock Issuance Date | Dec. 31, 2018 |
Common Stock Holders | Crown Bridge Partners |
Shares Issuances | shares | 21,262,000 |
Shares Issuances, Value | $ | $ 447,379,900 |
Common Stock Forty Five [Member] | |
Common Stock Issuance Date | Jan. 8, 2019 |
Common Stock Holders | Auctus Fund, LLC |
Shares Issuances | shares | 20,000,000 |
Shares Issuances, Value | $ | $ 467,379,900 |
Common Stock Forty Six [Member] | |
Common Stock Issuance Date | Jan. 9, 2019 |
Common Stock Holders | JSJ Investments, Inc. |
Shares Issuances | shares | 19,140,669 |
Shares Issuances, Value | $ | $ 486,520,569 |
Common Stock Forty Seven [Member] | |
Common Stock Issuance Date | Jan. 9, 2019 |
Common Stock Holders | Crown Bridge Partners |
Shares Issuances | shares | 22,324,000 |
Shares Issuances, Value | $ | $ 508,844,569 |
Common Stock Forty Eight [Member] | |
Common Stock Issuance Date | Jan. 11, 2019 |
Common Stock Holders | Power Up Lending Group |
Shares Issuances | shares | 22,313,433 |
Shares Issuances, Value | $ | $ 531,158,002 |
Common Stock Forty Nine [Member] | |
Common Stock Issuance Date | Jan. 14, 2019 |
Common Stock Holders | Power Up Lending Group |
Shares Issuances | shares | 22,311,475 |
Shares Issuances, Value | $ | $ 553,469,477 |
Common Stock Fifty [Member] | |
Common Stock Issuance Date | Jan. 15, 2019 |
Common Stock Holders | Power Up Lending Group |
Shares Issuances | shares | 22,312,500 |
Shares Issuances, Value | $ | $ 575,781,977 |
Common Stock Fifty One [Member] | |
Common Stock Issuance Date | Jan. 15, 2019 |
Common Stock Holders | Crown Bridge Partners |
Shares Issuances | shares | 23,000,000 |
Shares Issuances, Value | $ | $ 598,781,977 |
Common Stock Fifty Two [Member] | |
Common Stock Issuance Date | Jan. 15, 2019 |
Common Stock Holders | Power Up Lending Group |
Shares Issuances | shares | 22,310,345 |
Shares Issuances, Value | $ | $ 621,092,322 |
Common Stock Fifty Three [Member] | |
Common Stock Issuance Date | Jan. 15, 2019 |
Common Stock Holders | Auctus Fund, LLC |
Shares Issuances | shares | 25,000,000 |
Shares Issuances, Value | $ | $ 646,092,322 |
Common Stock Fifty Four [Member] | |
Common Stock Issuance Date | Jan. 17, 2019 |
Common Stock Holders | Power Up Lending Group |
Shares Issuances | shares | 22,316,327 |
Shares Issuances, Value | $ | $ 668,408,649 |
Common Stock Fifty Five [Member] | |
Common Stock Issuance Date | Jan. 22, 2019 |
Common Stock Holders | Power Up Lending Group |
Shares Issuances | shares | 22,304,348 |
Shares Issuances, Value | $ | $ 690,712,997 |
Common Stock Fifty Six [Member] | |
Common Stock Issuance Date | Jan. 23, 2019 |
Common Stock Holders | Power Up Lending Group |
Shares Issuances | shares | 33,341,463 |
Shares Issuances, Value | $ | $ 724,054,460 |
Common Stock Fifty Seven [Member] | |
Common Stock Issuance Date | Jan. 24, 2019 |
Common Stock Holders | JSJ Investments, Inc. |
Shares Issuances | shares | 31,658,523 |
Shares Issuances, Value | $ | $ 755,712,983 |
Common Stock Fifty Eight [Member] | |
Common Stock Issuance Date | Jan. 24, 2019 |
Common Stock Holders | Power Up Lending Group |
Shares Issuances | shares | 33,342,857 |
Shares Issuances, Value | $ | $ 789,055,840 |
Common Stock Fifty Nine [Member] | |
Common Stock Issuance Date | Jan. 28, 2019 |
Common Stock Holders | Auctus Fund, LLC |
Shares Issuances | shares | 33,000,000 |
Shares Issuances, Value | $ | $ 822,055,840 |
Common Stock Sixty [Member] | |
Common Stock Issuance Date | Jan. 28, 2019 |
Common Stock Holders | EMA Financial LLC |
Shares Issuances | shares | 39,370,000 |
Shares Issuances, Value | $ | $ 861,425,840 |
Common Stock Sixty One [Member] | |
Common Stock Issuance Date | Jan. 28, 2019 |
Common Stock Holders | Power Up Lending Group |
Shares Issuances | shares | 34,844,828 |
Shares Issuances, Value | $ | $ 896,270,668 |
Common Stock Sixty Two [Member] | |
Common Stock Issuance Date | Jan. 29, 2019 |
Common Stock Holders | JSJ Investments, Inc. |
Shares Issuances | shares | 38,663,736 |
Shares Issuances, Value | $ | $ 934,934,404 |
Common Stock Sixty Three [Member] | |
Common Stock Issuance Date | Feb. 4, 2019 |
Common Stock Holders | Auctus Fund, LLC |
Shares Issuances | shares | 39,373,800 |
Shares Issuances, Value | $ | $ 974,308,204 |
Common Stock Sixty Four [Member] | |
Common Stock Issuance Date | Feb. 4, 2019 |
Common Stock Holders | JSJ Investments, Inc. |
Shares Issuances | shares | 45,811,785 |
Shares Issuances, Value | $ | $ 1,020,119,989 |
Common Stock Sixty Five [Member] | |
Common Stock Issuance Date | Feb. 4, 2019 |
Common Stock Holders | ONE44 Capital LLC |
Shares Issuances | shares | 45,955,682 |
Shares Issuances, Value | $ | $ 1,066,075,671 |
Common Stock Sixty Six [Member] | |
Common Stock Issuance Date | Feb. 7, 2019 |
Common Stock Holders | EMA Financial LLC |
Shares Issuances | shares | 53,000,000 |
Shares Issuances, Value | $ | $ 1,119,075,671 |
Common Stock Sixty Seven [Member] | |
Common Stock Issuance Date | Feb. 8, 2019 |
Common Stock Holders | Auctus Fund, LLC |
Shares Issuances | shares | 37,070,000 |
Shares Issuances, Value | $ | $ 1,156,145,671 |
Common Stock Sixty Eight [Member] | |
Common Stock Issuance Date | Feb. 8, 2019 |
Common Stock Holders | JSJ Investments, Inc. |
Shares Issuances | shares | 52,237,707 |
Shares Issuances, Value | $ | $ 1,208,383,378 |
Common Stock Sixty Nine [Member] | |
Common Stock Issuance Date | Feb. 20, 2019 |
Common Stock Holders | Power Up Lending Group |
Shares Issuances | shares | 60,264,706 |
Shares Issuances, Value | $ | $ 1,268,648,084 |
Common Stock Seventy [Member] | |
Common Stock Issuance Date | Feb. 21, 2019 |
Common Stock Holders | Auctus Fund, LLC |
Shares Issuances | shares | 63,000,000 |
Shares Issuances, Value | $ | $ 1,331,648,084 |
Common Stock Seventy One [Member] | |
Common Stock Issuance Date | Feb. 21, 2019 |
Common Stock Holders | EMA Financial LLC |
Shares Issuances | shares | 63,300,000 |
Shares Issuances, Value | $ | $ 1,394,948,084 |
Common Stock Seventy Two [Member] | |
Common Stock Issuance Date | Feb. 21, 2019 |
Common Stock Holders | Power Up Lending Group |
Shares Issuances | shares | 60,235,294 |
Shares Issuances, Value | $ | $ 1,455,183,378 |
Common Stock Seventy Three [Member] | |
Common Stock Issuance Date | Feb. 25, 2019 |
Common Stock Holders | Power Up Lending Group |
Shares Issuances | shares | 72,588,235 |
Shares Issuances, Value | $ | $ 1,527,771,613 |
Common Stock Seventy Four [Member] | |
Common Stock Issuance Date | Feb. 25, 2019 |
Common Stock Holders | Andreas Held |
Shares Issuances | shares | 9,722,222 |
Shares Issuances, Value | $ | $ 1,537,493,835 |
Common Stock Seventy Five [Member] | |
Common Stock Issuance Date | Feb. 26, 2019 |
Common Stock Holders | JSJ Investments, Inc. |
Shares Issuances | shares | 65,250,756 |
Shares Issuances, Value | $ | $ 1,602,744,591 |
Common Stock Seventy Six [Member] | |
Common Stock Issuance Date | Feb. 26, 2019 |
Common Stock Holders | Auctus Fund, LLC |
Shares Issuances | shares | 79,900,000 |
Shares Issuances, Value | $ | $ 1,682,644,591 |
Common Stock Seventy Seven [Member] | |
Common Stock Issuance Date | Feb. 28, 2019 |
Common Stock Holders | Power Up Lending Group |
Shares Issuances | shares | 55,791,667 |
Shares Issuances, Value | $ | $ 1,738,436,258 |
Common Stock Seventy Eight [Member] | |
Common Stock Issuance Date | Feb. 28, 2019 |
Common Stock Holders | EMA Financial LLC |
Shares Issuances | shares | 79,900,000 |
Shares Issuances, Value | $ | $ 1,818,336,258 |
Common Stock Seventy Nine [Member] | |
Common Stock Issuance Date | Feb. 28, 2019 |
Common Stock Holders | ONE44 Capital LLC |
Shares Issuances | shares | 80,924,545 |
Shares Issuances, Value | $ | $ 1,899,260,803 |
Common Stock Eighty [Member] | |
Common Stock Issuance Date | Feb. 28, 2019 |
Common Stock Holders | JSJ Investments, Inc. |
Shares Issuances | shares | 78,534,484 |
Shares Issuances, Value | $ | $ 1,977,795,287 |
Common Stock Eighty One [Member] | |
Common Stock Issuance Date | Mar. 4, 2019 |
Common Stock Holders | Crown Bridge Partners |
Shares Issuances | shares | 90,000,000 |
Shares Issuances, Value | $ | $ 2,067,795,287 |
Common Stock Eighty Two [Member] | |
Common Stock Issuance Date | Mar. 4, 2019 |
Common Stock Holders | Power Up Lending Group |
Shares Issuances | shares | 72,583,333 |
Shares Issuances, Value | $ | $ 2,140,378,620 |
Common Stock Eighty Three [Member] | |
Common Stock Issuance Date | Mar. 5, 2019 |
Common Stock Holders | Power Up Lending Group |
Shares Issuances | shares | 72,500,000 |
Shares Issuances, Value | $ | $ 2,212,878,620 |
Common Stock Eighty Four [Member] | |
Common Stock Issuance Date | Mar. 5, 2019 |
Common Stock Holders | EMA Financial LLC |
Shares Issuances | shares | 98,600,000 |
Shares Issuances, Value | $ | $ 2,311,478,620 |
Common Stock Eighty Five [Member] | |
Common Stock Issuance Date | Mar. 5, 2019 |
Common Stock Holders | Crown Bridge Partners |
Shares Issuances | shares | 89,986,285 |
Shares Issuances, Value | $ | $ 2,401,464,905 |
Common Stock Eighty Six [Member] | |
Common Stock Issuance Date | Mar. 6, 2019 |
Common Stock Holders | ONE44 Capital LLC |
Shares Issuances | shares | 86,816,909 |
Shares Issuances, Value | $ | $ 2,488,281,814 |
Common Stock Eighty Seven [Member] | |
Common Stock Issuance Date | Mar. 7, 2019 |
Common Stock Holders | LG Capital Funding LLC |
Shares Issuances | shares | 124,266,800 |
Shares Issuances, Value | $ | $ 2,612,548,614 |
Common Stock Eighty Eight [Member] | |
Common Stock Issuance Date | Mar. 7, 2019 |
Common Stock Holders | JSJ Investments, Inc. |
Shares Issuances | shares | 104,878,552 |
Shares Issuances, Value | $ | $ 2,717,427,166 |
Common Stock Eighty Nine [Member] | |
Common Stock Issuance Date | Mar. 8, 2019 |
Common Stock Holders | Auctus Fund, LLC |
Shares Issuances | shares | 124,100,000 |
Shares Issuances, Value | $ | $ 2,841,527,166 |
Common Stock Ninety [Member] | |
Common Stock Issuance Date | Mar. 8, 2019 |
Common Stock Holders | Power Up Lending Group |
Shares Issuances | shares | 106,666,667 |
Shares Issuances, Value | $ | $ 2,948,193,833 |
Common Stock Ninety One [Member] | |
Common Stock Issuance Date | Mar. 11, 2019 |
Common Stock Holders | ONE44 Capital LLC |
Shares Issuances | shares | 146,851,273 |
Shares Issuances, Value | $ | $ 3,095,045,106 |
Common Stock Ninety Two [Member] | |
Common Stock Issuance Date | Mar. 12, 2019 |
Common Stock Holders | Crown Bridge Partners |
Shares Issuances | shares | 153,000,000 |
Shares Issuances, Value | $ | $ 3,248,045,106 |
Common Stock Ninety Three [Member] | |
Common Stock Issuance Date | Mar. 12, 2019 |
Common Stock Holders | EMA Financial LLC |
Shares Issuances | shares | 154,000,000 |
Shares Issuances, Value | $ | $ 3,402,045,106 |
Common Stock Ninety Four [Member] | |
Common Stock Issuance Date | Mar. 12, 2019 |
Common Stock Holders | Power Up Lending Group |
Shares Issuances | shares | 87,333,333 |
Shares Issuances, Value | $ | $ 3,489,378,439 |
Common Stock Ninety Five [Member] | |
Common Stock Issuance Date | Mar. 14, 2019 |
Common Stock Holders | EMA Financial LLC |
Shares Issuances | shares | 174,000,000 |
Shares Issuances, Value | $ | $ 3,663,378,439 |
Common Stock Ninety Six [Member] | |
Common Stock Issuance Date | Mar. 14, 2019 |
Common Stock Holders | ONE44 Capital LLC |
Shares Issuances | shares | 162,434,909 |
Shares Issuances, Value | $ | $ 3,825,813,348 |
Common Stock Ninety Seven [Member] | |
Common Stock Issuance Date | Mar. 18, 2019 |
Common Stock Holders | Crown Bridge Partners |
Shares Issuances | shares | 190,000,000 |
Shares Issuances, Value | $ | $ 4,015,813,348 |
Common Stock Ninety Eight [Member] | |
Common Stock Issuance Date | Mar. 19, 2019 |
Common Stock Holders | Power Up Lending Group |
Shares Issuances | shares | 143,833,333 |
Shares Issuances, Value | $ | $ 4,159,646,681 |
Common Stock Ninety Nine [Member] | |
Common Stock Issuance Date | Mar. 19, 2019 |
Common Stock Holders | LG Capital Funding LLC |
Shares Issuances | shares | 200,628,400 |
Shares Issuances, Value | $ | $ 4,360,275,081 |
Common Stock Hundered [Member] | |
Common Stock Issuance Date | Mar. 19, 2019 |
Common Stock Holders | JSJ Investments, Inc. |
Shares Issuances | shares | 187,464,854 |
Shares Issuances, Value | $ | $ 4,547,739,935 |
Common Stock Hundered and One [Member] | |
Common Stock Issuance Date | Mar. 20, 2019 |
Common Stock Holders | Auctus Fund, LLC |
Shares Issuances | shares | 200,389,000 |
Shares Issuances, Value | $ | $ 4,748,128,935 |
Common Stock Hundered and Two [Member] | |
Common Stock Issuance Date | Mar. 20, 2019 |
Common Stock Holders | Crown Bridge Partners |
Shares Issuances | shares | 200,000,000 |
Shares Issuances, Value | $ | $ 4,948,128,935 |
Common Stock Hundered and Three [Member] | |
Common Stock Issuance Date | Mar. 20, 2019 |
Common Stock Holders | EMA Financial LLC |
Shares Issuances | shares | 226,900,000 |
Shares Issuances, Value | $ | $ 5,175,028,935 |
Common Stock Hundered and Four [Member] | |
Common Stock Issuance Date | Mar. 22, 2019 |
Common Stock Holders | Power Up Lending Group |
Shares Issuances | shares | 190,833,333 |
Shares Issuances, Value | $ | $ 5,365,862,268 |
Common Stock Hundered and Five [Member] | |
Common Stock Issuance Date | Mar. 25, 2019 |
Common Stock Holders | Power Up Lending Group |
Shares Issuances | shares | 267,666,667 |
Shares Issuances, Value | $ | $ 5,633,528,935 |
Common Stock Hundered and Six [Member] | |
Common Stock Issuance Date | Mar. 25, 2019 |
Common Stock Holders | Crown Bridge Partners |
Shares Issuances | shares | 258,000,000 |
Shares Issuances, Value | $ | $ 5,891,528,935 |
Common Stock Hundered and Seven [Member] | |
Common Stock Issuance Date | Mar. 27, 2019 |
Common Stock Holders | Crown Bridge Partners |
Shares Issuances | shares | 293,000,000 |
Shares Issuances, Value | $ | $ 6,184,528,935 |
Common Stock Hundered and Eight [Member] | |
Common Stock Issuance Date | Mar. 28, 2019 |
Common Stock Holders | Power Up Lending Group |
Shares Issuances | shares | 178,833,333 |
Shares Issuances, Value | $ | $ 6,363,362,268 |
Common Stock Hundered and Nine [Member] | |
Common Stock Issuance Date | Mar. 28, 2019 |
Common Stock Holders | Auctus Fund, LLC |
Shares Issuances | shares | 93,212,950 |
Shares Issuances, Value | $ | $ 6,456,575,218 |
Common Stock Hundered and Ten [Member] | |
Common Stock Issuance Date | Mar. 28, 2019 |
Common Stock Holders | ONE44 Capital LLC |
Shares Issuances | shares | 304,693,455 |
Shares Issuances, Value | $ | $ 6,761,268,673 |
Common Stock Hundered and Eleven [Member] | |
Common Stock Issuance Date | Apr. 1, 2019 |
Common Stock Holders | Power Up Lending Group |
Shares Issuances | shares | 337,333,333 |
Shares Issuances, Value | $ | $ 7,098,602,006 |
Common Stock Hundered and Twelve [Member] | |
Common Stock Issuance Date | Apr. 2, 2019 |
Common Stock Holders | JSJ Investments, Inc. |
Shares Issuances | shares | 262,927,251 |
Shares Issuances, Value | $ | $ 7,361,529,257 |
Common Stock Hundered and Thirteen [Member] | |
Common Stock Issuance Date | Apr. 2, 2019 |
Common Stock Holders | Power Up Lending Group |
Shares Issuances | shares | 237,333,333 |
Shares Issuances, Value | $ | $ 7,598,862,590 |
Common Stock Hundered and Fourteen [Member] | |
Common Stock Issuance Date | Apr. 3, 2019 |
Common Stock Holders | Auctus Fund, LLC |
Shares Issuances | shares | 337,387,300 |
Shares Issuances, Value | $ | $ 7,936,249,890 |
Common Stock Hundered and Fifteen [Member] | |
Common Stock Issuance Date | Apr. 24, 2019 |
Common Stock Holders | Andreas Held |
Shares Issuances | shares | 11,666,667 |
Shares Issuances, Value | $ | $ 7,947,916,557 |
Common Stock Hundered and Sixteen [Member] | |
Common Stock Issuance Date | Apr. 29, 2019 |
Common Stock Holders | Power Up Lending Group |
Shares Issuances | shares | 84,000,000 |
Shares Issuances, Value | $ | $ 8,031,916,557 |
Common Stock Hundered and Seventeen [Member] | |
Common Stock Issuance Date | Apr. 30, 2019 |
Common Stock Holders | LG Capital Funding LLC |
Shares Issuances | shares | 400,958,800 |
Shares Issuances, Value | $ | $ 8,432,875,357 |
Common Stock Hundered and Eighteen [Member] | |
Common Stock Issuance Date | May 9, 2019 |
Common Stock Holders | JSJ Investments, Inc. |
Shares Issuances | shares | 413,210,892 |
Shares Issuances, Value | $ | $ 8,846,086,249 |
Common Stock Hundered and Nineteen [Member] | |
Common Stock Issuance Date | May 21, 2019 |
Common Stock Holders | ONE44 Capital LLC |
Shares Issuances | shares | 419,103,273 |
Shares Issuances, Value | $ | $ 9,265,189,522 |
Common Stock Hundered and Twenty [Member] | |
Common Stock Issuance Date | May 24, 2019 |
Common Stock Holders | Crown Bridge Partners |
Shares Issuances | shares | 277,000,000 |
Shares Issuances, Value | $ | $ 9,542,189,522 |
Common Stock Hundered and Twenty One [Member] | |
Common Stock Issuance Date | Jun. 12, 2019 |
Common Stock Holders | JSJ Investments, Inc. |
Shares Issuances | shares | 467,567,286 |
Shares Issuances, Value | $ | $ 10,009,756,808 |
Stock-Based Compensation Plans
Stock-Based Compensation Plans (Details Narrative) - $ / shares | Sep. 23, 2016 | Jun. 30, 2019 | Mar. 18, 2015 |
Employee benefit plan shares of common stock for eligible employees | 1,000,000 | ||
Vesting description | Vesting is based on a one-year cliff from grant date. | ||
Henry Fahman [Member] | |||
Option grant date exercise price per share | $ 0.24 | ||
Number of option shares | 6,520,000 | ||
Number of options outstanding term | 7 years | ||
Number of options exercisable term | 1 year |
Stock-Based Compensation Plan_2
Stock-Based Compensation Plans - Schedule of Fair Value of Stock Option Assumptions (Details) | 12 Months Ended |
Jun. 30, 2019 | |
Share-based Payment Arrangement [Abstract] | |
Risk-free interest rate | 1.18% |
Expected life | 7 years |
Expected volatility | 239.30% |
Stock-Based Compensation Plan_3
Stock-Based Compensation Plans - Schedule of Fair Value of Stock Option Issuance Date (Details) | 12 Months Ended |
Jun. 30, 2019USD ($)$ / sharesshares | |
Tam Bui [Member] | |
Stock Options Issue Date | Sep. 23, 2016 |
Stock Options Maturity Date | Sep. 23, 2023 |
Stock Options Shares | shares | 875,000 |
Stock Options Exercise Price | $ / shares | $ 0.24 |
Fair Value at Issuance of Stock Option | $ | $ 219,464 |
Frank Hawkins [Member] | |
Stock Options Issue Date | Sep. 23, 2016 |
Stock Options Maturity Date | Sep. 23, 2023 |
Stock Options Shares | shares | 875,000 |
Stock Options Exercise Price | $ / shares | $ 0.24 |
Fair Value at Issuance of Stock Option | $ | $ 219,464 |
Henry Fahman [Member] | |
Stock Options Issue Date | Sep. 23, 2016 |
Stock Options Maturity Date | Sep. 23, 2023 |
Stock Options Shares | shares | 4,770,000 |
Stock Options Exercise Price | $ / shares | $ 0.24 |
Fair Value at Issuance of Stock Option | $ | $ 1,187,984 |
Gain (Loss) On Settlement of _2
Gain (Loss) On Settlement of Debts (Details Narrative) - USD ($) | 12 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Gain Loss On Settlement Of Debts | ||
Gain or loss on settlement of debts | ||
Loss on conversion of debt | $ 94,539 |
Other Income (Expense) - Schedu
Other Income (Expense) - Schedule of Other Income (Expense) (Details) - USD ($) | 12 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Other Income and Expenses [Abstract] | ||
Interest expense | $ (1,897,979) | $ (1,352,736) |
Net other income/expense | 1,378,531 | |
NET OTHER INCOME (EXPENSE) | $ (519,448) |
Related Party Transactions (Det
Related Party Transactions (Details Narrative) | Jun. 30, 2019USD ($) |
President and Secretary Member] | |
Accrued salaries | $ 210,000 |
Income Taxes (Details Narrative
Income Taxes (Details Narrative) | 12 Months Ended |
Jun. 30, 2019USD ($) | |
Income Tax Disclosure [Abstract] | |
Operating loss carry forwards | $ 42,688,547 |
Operating loss carry forwards limitations on use | The net operating loss carry forward may be used to reduce taxable income through the year 2034. Net operating loss for carry forwards for the State of California is generally available to reduce taxable income through the year 2024. |
Percentage of limitation in ownership change | 50.00% |
Contracts and Commitments (Deta
Contracts and Commitments (Details Narrative) | Sep. 20, 2018shares | Jun. 30, 2019USD ($) | Oct. 04, 2018EUR (€) | Aug. 06, 2018 | Jun. 30, 2018USD ($) | Feb. 21, 2018EUR (€) |
Investment | $ | $ 5,000 | $ 25,005,000 | ||||
Business Cooperation Agreement [Member] | Vinafilms JSC [Member] | ||||||
Percentage of ownership | 51.00% | |||||
Stock Swap Agreement [Member] | Vinafilms JSC [Member] | ||||||
Percentage of ownership | 76.00% | |||||
Stock Swap Agreement [Member] | Vinafilms JSC [Member] | Class A Series III Cumulative Convertible Redeemable Preferred Stock [Member] | ||||||
Exchange of shares | shares | 50,000,000 | |||||
Stock Swap Agreement [Member] | Vinafilms JSC [Member] | Common Stock [Member] | ||||||
Exchange of shares | shares | 3,060,000 | |||||
Euros [Member] | ||||||
Investment | € | € 3,500,000 | |||||
Extra amount to be paid to structuring agent | € | € 1,500,000 |
Going Concern Uncertainty (Deta
Going Concern Uncertainty (Details Narrative) - USD ($) | Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2017 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||
Accumulated deficit | $ (42,688,547) | $ (40,551,299) | |
Stockholders' deficit | $ (6,002,724) | $ (4,844,747) | $ (7,513,481) |
Subsequent Event (Details Narra
Subsequent Event (Details Narrative) | Nov. 20, 2020USD ($) | Nov. 09, 2020USD ($) | Aug. 10, 2020USD ($) | Dec. 23, 2019USD ($)shares | Jun. 30, 2018USD ($) | Mar. 05, 2021VND (₫) | Dec. 31, 2020ha | Mar. 31, 2018ha |
Common stock issued for consulting sevices, value | $ 981 | |||||||
Subsequent Event [Member] | Tecco Group [Member] | ||||||||
Contributed amount | $ 2,000,000 | |||||||
Ownership interest of general partners | 49.00% | |||||||
Subsequent Event [Member] | Tecco Group [Member] | Vietnam Dong [Member] | ||||||||
Contributed amount | ₫ | ₫ 4,000,000,000 | |||||||
Subsequent Event [Member] | Phat Van Hung Co. Ltd [Member] | ||||||||
Ownership interest of general partners | 49.00% | |||||||
Subsequent Event [Member] | Xuan Quynh LLC [Member] | ||||||||
Ownership interest of general partners | 49.00% | |||||||
Subsequent Event [Member] | Glink Apps JSC[Member] | Consulting Service Agreement [Member] | ||||||||
Common stock issued for consulting sevices, value | $ 88,500 | |||||||
Common stock issued for consulting services | shares | 5,000,000 | |||||||
Subsequent Event [Member] | Phat Van Hung Co. Ltd [Member] | ||||||||
Contributed amount | $ 2,000,000 | |||||||
Subsequent Event [Member] | Xuan Quynh LLC [Member] | ||||||||
Contributed amount | $ 2,000,000 | |||||||
PHILUX Global Funds [Member] | Nui Thanh District [Member] | ||||||||
Area of land | ha | 200 | |||||||
PHILUX Global Funds [Member] | Nui Thanh District [Member] | Subsequent Event [Member] | ||||||||
Area of land | ha | 1,200 | |||||||
PHILUX Global Funds [Member] | Dong Nai [Member] | Subsequent Event [Member] | ||||||||
Area of land | ha | 600 |
Subsequent Event - Schedule of
Subsequent Event - Schedule of Conversion of Notes to Common Stock (Details) - shares | 12 Months Ended | 20 Months Ended |
Jun. 30, 2019 | Mar. 09, 2021 | |
Considerations | Each share of the Class A Preferred Stock, either Series I or Series II shall be convertible into the Company's Common Stock any time after two years from the date of issuance at a Variable Conversion Price (as defined herein) of the Common Stock. The "Variable Conversion Price" shall mean 75% multiplied by the Market Price (as defined herein) (representing a discount rate of 25%). "Market Price" means the average Trading Price for the Company's Common Stock during the ten (10) trading-day period ending one trading day prior to the date the Conversion Notice is sent by the Holder of the Class A Preferred Stock to the Company via facsimile or email (the "Conversion Date"). "Trading Price" means, for any security as of any date, the closing price on the OTC Markets, OTCQB, NASDAQ Stock Markets, or applicable trading market as reported by a reliable reporting service ("Reporting Service") mutually acceptable to the Company and Holder of the Class A Preferred Stock. | |
Subsequent Event [Member] | ||
Amount of shares | 10,009,756,808 | |
Convertible Promissory Notes One [Member] | Subsequent Event [Member] | ||
Date of issuance | Jul. 19, 2019 | |
Name of holder | ANDREAS HELD | |
Amount of shares | 20,000,000 | |
Considerations | Cash | |
Convertible Promissory Notes Two [Member] | Subsequent Event [Member] | ||
Date of issuance | Jul. 25, 2019 | |
Name of holder | JSJ INVESTMENTS, INC | |
Amount of shares | 491,458,083 | |
Considerations | Note conversion | |
Convertible Promissory Notes Three [Member] | Subsequent Event [Member] | ||
Date of issuance | Aug. 16, 2019 | |
Name of holder | JSJ INVESTMENTS, INC | |
Amount of shares | 212,148,000 | |
Considerations | Note conversion | |
Convertible Promissory Notes Four [Member] | Subsequent Event [Member] | ||
Date of issuance | Aug. 22, 2019 | |
Name of holder | JSJ INVESTMENTS, INC | |
Amount of shares | 525,934,781 | |
Considerations | Note conversion | |
Convertible Promissory Notes Five [Member] | Subsequent Event [Member] | ||
Date of issuance | Aug. 29, 2019 | |
Name of holder | CROWN BRIDGE PARTNERS LLC | |
Amount of shares | 525,000,000 | |
Considerations | Note conversion | |
Convertible Promissory Notes Six [Member] | Subsequent Event [Member] | ||
Date of issuance | Sep. 4, 2019 | |
Name of holder | AUCTUS FUND, LLC | |
Amount of shares | 224,451,600 | |
Considerations | Note conversion | |
Convertible Promissory Notes Seven [Member] | Subsequent Event [Member] | ||
Date of issuance | Sep. 5, 2019 | |
Name of holder | ADAR ALEF LLC | |
Amount of shares | 599,230,769 | |
Considerations | Note conversion | |
Convertible Promissory Notes Eight [Member] | Subsequent Event [Member] | ||
Date of issuance | Sep. 6, 2019 | |
Name of holder | JSJ INVESTMENTS, INC | |
Amount of shares | 588,428,714 | |
Considerations | Note conversion | |
Convertible Promissory Notes Nine [Member] | Subsequent Event [Member] | ||
Date of issuance | May 14, 2020 | |
Name of holder | ANDREAS HELD | |
Amount of shares | 16,000,000 | |
Considerations | Cash | |
Convertible Promissory Notes Ten [Member] | Subsequent Event [Member] | ||
Date of issuance | Jun. 10, 2020 | |
Name of holder | ANDREAS HELD | |
Amount of shares | 20,000,000 | |
Considerations | Cash | |
Convertible Promissory Notes Eleven [Member] | Subsequent Event [Member] | ||
Date of issuance | Aug. 7, 2020 | |
Name of holder | ONE44 CAPITAL LLC | |
Amount of shares | 239,611,455 | |
Considerations | Note conversion | |
Convertible Promissory Notes Twelve [Member] | Subsequent Event [Member] | ||
Date of issuance | Dec. 2, 2020 | |
Name of holder | ADAR ALEF LLC | |
Amount of shares | 318,050,962 | |
Considerations | Note conversion | |
Convertible Promissory Notes Thirteen [Member] | Subsequent Event [Member] | ||
Date of issuance | Dec. 3, 2020 | |
Name of holder | ONE44 CAPITAL LLC | |
Amount of shares | 154,538,182 | |
Considerations | Note conversion | |
Convertible Promissory Notes Fourteen [Member] | Subsequent Event [Member] | ||
Date of issuance | Dec. 15, 2020 | |
Name of holder | ONE44 CAPITAL LLC | |
Amount of shares | 163,666,182 | |
Considerations | Note conversion | |
Convertible Promissory Notes Fifteen [Member] | Subsequent Event [Member] | ||
Date of issuance | Dec. 22, 2020 | |
Name of holder | JSJ INVESTMENTS, INC | |
Amount of shares | 100,000,000 | |
Considerations | Note conversion | |
Convertible Promissory Notes Sixteen [Member] | Subsequent Event [Member] | ||
Date of issuance | Dec. 24, 2020 | |
Name of holder | ONE44 CAPITAL LLC | |
Amount of shares | 155,732,187 | |
Considerations | Note conversion | |
Convertible Promissory Notes Seventeen [Member] | Subsequent Event [Member] | ||
Date of issuance | Dec. 30, 2020 | |
Name of holder | JSJ INVESTMENTS, INC | |
Amount of shares | 100,000,000 | |
Considerations | Note conversion | |
Convertible Promissory Notes Eighteen [Member] | Subsequent Event [Member] | ||
Date of issuance | Jan. 4, 2021 | |
Name of holder | ONE44 CAPITAL LLC | |
Amount of shares | 170,025,603 | |
Considerations | Note conversion | |
Convertible Promissory Notes Nineteen [Member] | Subsequent Event [Member] | ||
Date of issuance | Jan. 8, 2021 | |
Name of holder | JSJ INVESTMENTS, INC | |
Amount of shares | 100,000,000 | |
Considerations | Note conversion | |
Convertible Promissory Notes Twenty [Member] | Subsequent Event [Member] | ||
Date of issuance | Jan. 8, 2021 | |
Name of holder | EMA FINANCIAL LLC | |
Amount of shares | 200,000,000 | |
Considerations | Note conversion | |
Convertible Promissory Notes Twenty One [Member] | Subsequent Event [Member] | ||
Date of issuance | Jan. 12, 2021 | |
Name of holder | ONE44 CAPITAL LLC | |
Amount of shares | 200,308,909 | |
Considerations | Note conversion | |
Convertible Promissory Notes Twenty Two [Member] | Subsequent Event [Member] | ||
Date of issuance | Jan. 15, 2021 | |
Name of holder | JSJ INVESTMENTS, INC | |
Amount of shares | 100,000,000 | |
Considerations | Note conversion | |
Convertible Promissory Notes Twenty Three [Member] | Subsequent Event [Member] | ||
Date of issuance | Jan. 21, 2021 | |
Name of holder | EMA FINANCIAL LLC | |
Amount of shares | 250,000,000 | |
Considerations | Note conversion | |
Convertible Promissory Notes Twenty Four [Member] | Subsequent Event [Member] | ||
Date of issuance | Jan. 22, 2021 | |
Name of holder | ONE44 CAPITAL LLC | |
Amount of shares | 323,442,182 | |
Considerations | Note conversion | |
Convertible Promissory Notes Twenty Five [Member] | Subsequent Event [Member] | ||
Date of issuance | Jan. 25, 2021 | |
Name of holder | JSJ INVESTMENTS, INC | |
Amount of shares | 100,000,000 | |
Considerations | Note conversion | |
Convertible Promissory Notes Twenty Six [Member] | Subsequent Event [Member] | ||
Date of issuance | Jan. 26, 2021 | |
Name of holder | JSJ INVESTMENTS, INC | |
Amount of shares | 200,000,000 | |
Considerations | Note conversion | |
Convertible Promissory Notes Twenty Seven [Member] | Subsequent Event [Member] | ||
Date of issuance | Feb. 3, 2021 | |
Name of holder | ONE44 CAPITAL LLC | |
Amount of shares | 246,027,364 | |
Considerations | Note conversion | |
Convertible Promissory Notes Twenty Eight [Member] | Subsequent Event [Member] | ||
Date of issuance | Feb. 9, 2021 | |
Name of holder | JSJ INVESTMENTS, INC | |
Amount of shares | 571,064,466 | |
Considerations | Note conversion | |
Convertible Promissory Notes Twenty Nine [Member] | Subsequent Event [Member] | ||
Date of issuance | Feb. 9, 2021 | |
Name of holder | CROWN BRIDGE PARTNERS LLC | |
Amount of shares | 216,393,200 | |
Considerations | Note conversion | |
Convertible Promissory Notes Thirty [Member] | Subsequent Event [Member] | ||
Date of issuance | Feb. 9, 2021 | |
Name of holder | CROWN BRIDGE PARTNERS LLC | |
Amount of shares | 238,365,100 | |
Considerations | Note conversion | |
Convertible Promissory Notes Thirty One [Member] | Subsequent Event [Member] | ||
Date of issuance | Feb. 22, 2021 | |
Name of holder | EMA FINANCIAL LLC | |
Amount of shares | 200,000,000 | |
Considerations | Note conversion | |
Convertible Promissory Notes Thirty Two [Member] | Subsequent Event [Member] | ||
Date of issuance | Feb. 23, 2021 | |
Name of holder | EMA FINANCIAL LLC | |
Amount of shares | 650,000,000 | |
Considerations | Note conversion | |
Convertible Promissory Notes Thirty Three [Member] | Subsequent Event [Member] | ||
Date of issuance | Feb. 24, 2021 | |
Name of holder | JSJ INVESTMENTS, INC | |
Amount of shares | 135,896,680 | |
Considerations | Note conversion | |
Convertible Promissory Notes Thirty Four [Member] | Subsequent Event [Member] | ||
Date of issuance | Feb. 26, 2021 | |
Name of holder | EMA FINANCIAL LLC | |
Amount of shares | 850,000,000 | |
Considerations | Note conversion | |
Convertible Promissory Notes Thirty Five [Member] | Subsequent Event [Member] | ||
Date of issuance | Mar. 4, 2021 | |
Name of holder | EMA FINANCIAL LLC | |
Amount of shares | 800,000,000 | |
Considerations | Note conversion |