Philux Global (PHIL) 10-Q 22 Feb 22 2022 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Dec. 31, 2021	Feb. 22, 2022
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Dec. 31, 2021
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2022
Current Fiscal Year End Date	--06-30
Entity File Number	2-78335-NY
Entity Registrant Name	PHI GROUP, INC.
Entity Central Index Key	0000704172
Entity Tax Identification Number	90-0114535
Entity Incorporation, State or Country Code	WY
Entity Address, Address Line One	2323 Main Street
Entity Address, City or Town	Irvine
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92614
City Area Code	714
Local Phone Number	793-9227
Title of 12(b) Security	Common Stock
Trading Symbol	PHIL
Entity Current Reporting Status	Yes
Entity Interactive Data Current	No
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		28,893,965,220

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($)	Dec. 31, 2021	Jun. 30, 2021
Current Assets
Cash and cash equivalents	$ 53,737	$ 95,344
Marketable securities	3,804,795	385,457
Other current assets	827,292
Total current assets	4,685,824	480,801
Other assets:
Investments	811,095	446,995
Total Assets	5,496,919	927,796
Current Liabilities
Accounts payable	538,473	608,521
Sub-fund obligations	1,474,775	1,474,775
Accrued expenses	875,058	1,993,478
Short-term loans and notes payable	306,759	325,621
Convertible Promissory Notes	1,466,250	220,230
Due to officers	1,089,754	1,720,322
Advances from customers	537,236	582,238
Derivative Liabilities	671,713
Total Liabilities	6,960,019	6,925,185
Stockholders’ deficit:
Preferred Stock, $0.001 par value; 500,000,000 shares authorized; 600,000 shares of Class B Series I issued and outstanding as of 12/31/2021 and 180,000 shares as of Class B Series I issued and outstanding as of 06/30/2021 respectively. Par value:	600	180
Additional Paid-In Capital, Class B Series Preferred Stock (Non-Convertible)	1,840
Common stock, $0.001 par value; 40 billion shares authorized; 28,774,498,378 shares issued and outstanding on 12/31/2021; 40 billion shares authorized and 26,081,268,895 shares issued and outstanding on 6/30/2021, respectively. Par value:	28,774,498	26,081,269
Additional Paid-In Capital - Common Stock	33,450,164	21,123,349
Common Stock to be issued	0	15,000
Common Stock to be cancelled	(35,500)	(2,696,410)
Treasury stock: 484,767 shares as of 9/30/21 and 6/30/21, respectively - cost method.	(44,170)	(44,170)
Accumulated deficit	(67,115,338)	(50,563,530)
Total Acc. Other Comprehensive Income (Loss)	3,504,806	86,923
Total stockholders’ deficit	(1,463,100)	(5,997,389)
Total liabilities and stockholders’ deficit	$ 5,496,919	$ 927,796

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Dec. 31, 2021	Jun. 30, 2021	Jun. 25, 2020
Preferred stock, par value	$ 0.001	$ 0.001	$ 0.001
Preferred stock, shares authorized	500,000,000	500,000,000	500,000,000
Common stock, par value	$ 0.001	$ 0.001	$ 0.001
Common stock, shares authorized	40,000,000,000	40,000,000,000	40,000,000,000
Common stock, shares issued	28,774,498,378	26,081,268,895
Common stock, shares outstanding	28,774,498,378	26,081,268,895
Treasury stock, shares	484,767	484,767
Class B Series I Preferred Stock [Member]
Preferred stock, par value	$ 0.001
Preferred stock, shares authorized	1,000,000
Preferred stock, shares issued	600,000	180,000
Preferred stock, shares outstanding	600,000	180,000

Consolidated Statement of Opera

Consolidated Statement of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Net revenues
Total revenues	$ 5,000	$ 13,000	$ 25,000	$ 18,000
Operating expenses:
Salaries and wages	90,000	52,500	180,000	105,000
Professional services, including non-cash compensation	9,842,533	30,384	14,934,227	229,319
General and administrative	40,306	27,008	87,841	92,596
Total operating expenses	9,972,839	109,892	15,202,068	426,915
Income (loss) from operations	(9,967,839)	(96,892)	(15,177,068)	(408,915)
Other income and expenses
Interest expense	(900,997)	(117,521)	(952,941)	(142,933)
Other income (expense)	277,198	1,546	(421,800)	2,717
Net other income (expenses)	(623,799)	(115,975)	(1,374,740)	(140,216)
Net income (loss)	$ (10,591,638)	$ (212,867)	$ (16,551,808)	$ (549,131)
Net loss per share:
Basic	$ 0	$ 0	$ 0	$ 0
Diluted	$ 0	$ 0	$ 0	$ 0
Weighted average number of shares outstanding:
Basic	27,975,285,161	13,910,822,958	27,975,285,161	13,910,822,958
Diluted	27,975,285,161	13,910,822,958	27,975,285,161	13,910,822,958
Investment Advisory, Management and Administrative Service [Member]
Net revenues
Total revenues	$ 5,000	$ 13,000	$ 25,000	$ 18,000

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Cash flows from operating activities:
Net income (loss) from operations	$ (16,551,808)	$ (549,131)
Net change due to stock issuances for debt conversions and professional services.	15,786,501
Deferred financing costs	(825,092)
(Increase) decrease in assets and prepaid expenses
Total (increase) decrease in assets and prepaid expenses	(2,200)	114,377
Increase (decrease) in accounts payable and accrued expenses
Accounts payable	(70,048)	43,315
Accrued expenses (net)	211,034	143,547
Sub-fund obligations		208,141
Advances from customers	(45,000)	85,910
Change in derivative liabilities	671,713	(61,463)
Net cash provided by (used in) operating activities	(824,901)	(139,592)
Cash flows from investing activities:
Investments: Asia Diamond Exchange	(365,555)	(81,765)
Net cash provided by (used in) investing activities	(365,555)	(81,765)
Common Stock		3,000
Loans and Notes Payable	1,148,849	(2,936)
Net cash provided by (used in) financing activities	1,148,849	64
Net decrease in cash and cash equivalents	(41,607)	(139,528)
Cash and cash equivalents, beginning of period	95,344	225,381
Cash and cash equivalents, end of period	$ 53,737	$ 85,853

Statement of Stockholders' Equi

Statement of Stockholders' Equity (Deficit) - USD ($)	Common Stock [Member]	Preferred Stock [Member]	Additional Paid-in Capital [Member]	Treasury Stock [Member]	Common Stock To Be Cancelled [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	Total
Beginning balance, value at Jun. 30, 2021	$ 26,081,269	$ 180	$ 21,123,350	$ (44,170)	$ (35,500)	$ (266,890)	$ (50,563,350)	$ (5,997,389)
Balance, shares at Jun. 30, 2021	26,081,268,895	180,000		(484,767)
Common Shares cancelled during the quarter ended December 31, 2021	$ (784)		(753)					(1,537)
Common Shares cancelled during the quarter ended December 31, 2021, shares	(784,249)
Common Shares issued for conversion of loans duirng quarter ended September 30, 2021	$ 103,279		495,740					599,019
Common Shares issued for conversion of loans duirng quarter ended September 30, 2021, shares	103,279,112
Common Shares issued for accrued salaries during the quarter ended December 31, 2021	$ 222,824		1,362,666					1,585,490
Common Shares issued for accrued salaries during the quarter ended December 31, 2021, shares	222,823,725
Common Shares issued for Consulting service during the quarter ended December 31, 2021	$ 767,000		4,141,800					4,908,800
Common Shares issued for Consulting service during the quarter ended December 31, 2021, shares	767,000,000
Net Income (Loss)								(5,960,170)
Ending balance, value at Sep. 30, 2021	$ 27,173,588	$ 180	27,122,803	$ (44,170)	(35,500)	2,423,041	(56,523,700)	(2,514,670)
Balance, shares at Sep. 30, 2021	27,173,587,483	180,000		(484,767)
Beginning balance, value at Jun. 30, 2021	$ 26,081,269	$ 180	21,123,350	$ (44,170)	(35,500)	(266,890)	(50,563,350)	(5,997,389)
Balance, shares at Jun. 30, 2021	26,081,268,895	180,000		(484,767)
Net Income (Loss)								(16,551,808)
Ending balance, value at Dec. 31, 2021	$ 28,774,498	$ 600	33,450,165	$ (44,170)	(35,500)	3,504,806	(67,115,338)	(1,463,100)
Balance, shares at Dec. 31, 2021	28,774,498,378	600,000		(484,767)
Beginning balance, value at Sep. 30, 2021	$ 27,173,588	$ 180	27,122,803	$ (44,170)	(35,500)	2,423,041	(56,523,700)	(2,514,670)
Balance, shares at Sep. 30, 2021	27,173,587,483	180,000		(484,767)
Common Shares cancelled during the quarter ended December 31, 2021	$ (235,479)		(2,425,432)					(2,660,911)
Common Shares cancelled during the quarter ended December 31, 2021, shares	(235,478,810)
Common Shares issued for accrued salaries during the quarter ended December 31, 2021	$ 52,197		245,524					297,721
Common Shares issued for accrued salaries during the quarter ended December 31, 2021, shares	52,196,586
Common Shares issued for Consulting service during the quarter ended December 31, 2021	$ 1,533,000		8,201,200					9,734,200
Common Shares issued for Consulting service during the quarter ended December 31, 2021, shares	1,533,000,000
Net Income (Loss)								(10,591,638)
Common Shares issued for conversion of note during the quarter ended December 31, 2021	$ 54,750		117,859					172,609
Common Shares issued for conversion of notes during quarter ended December 31, 2020, shares	54,750,000
Common Shares issued for exercise of warrants during the quarter ended December 31, 2021	$ 166,443		53,211					219,654
Common Shares issued for exercise of warrants during the quarter ended December 31, 2021, shares	166,443,119
Common Shares issued for previously paid subscription during the quarter ended December 31, 2021	$ 30,000		135,000					165,000
Common Shares issued for previously paid subscription during the quarter ended December 31, 2021, shares	30,000,000
Preferred Stock issued for loan payment during the quarter ended December 31, 2021		$ 420	1,840					600
Preferred Stock issued for loan payment during the quarter ended December 31, 2021, shares		420,000
Ending balance, value at Dec. 31, 2021	$ 28,774,498	$ 600	$ 33,450,165	$ (44,170)	$ (35,500)	$ 3,504,806	$ (67,115,338)	$ (1,463,100)
Balance, shares at Dec. 31, 2021	28,774,498,378	600,000		(484,767)

NATURE OF BUSINESS

NATURE OF BUSINESS	6 Months Ended
	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
NATURE OF BUSINESS	NOTE 1 NATURE OF BUSINESS INTRODUCTION PHI Group, Inc. (the “Company” or “PHI”) ( www.phiglobal.com www.CO2-1-0.io https://www.kotasolar.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. In February 2000, the Company then changed its name to Providential Holdings, Inc. 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 PHILUX Global Funds, SCA, SICAV-RAIF by launching a number of sub-funds for investment in real estate, renewable energy, infrastructure, agriculture and healthcare and on 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 U.S. and international companies. Recently, the Company has signed Purchase and Sale Agreements to acquire seventy percent ownership in Five-Grain Treasure Spirits Company, Ltd., a baiju distiller in Jilin Province, China; fifty-point one percent ownership in Kota Construction LLC, a California limited liability company, and fifty-point one percent ownership in Kota Energy Group LLC, a California limited liability company, both of which engage in solar energy business. The Company has also launched CO2-1-0 (Carbon) Corp., a Wyoming subsidiary engaged in carbon emission mitigation using blockchain and crypto technologies ( www.co2-1-0.io www.vinafilmsglobal.com BUSINESS STRATEGY PHI’s strategy is to: 1. Identify, build, acquire, commit and deploy valuable resources with distinctive competitive advantages; 2. Identify, evaluate, acquire, participate and compete in attractive businesses that have large, growing market potential; 3. Build an attractive investment that includes points of exit for investors through capital appreciation or spin-offs of business units.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES PRINCIPLES OF CONSOLIDATION The consolidated financial statements include the accounts of PHI Group, Inc. and its wholly owned subsidiaries: (1) Vinafilms International, Inc. (formerly American Pacific Plastics, Inc.), a Wyoming corporation ( 100 %), (2) American Pacific Resources, Inc., a Wyoming corporation ( 100 %), (3) PHILUX Capital Advisors, Inc., a Wyoming corporation ( 100 %), (4) PHI Luxembourg Development S.A., a Luxembourg corporation ( 100 %), (5) PHILUX Global Funds SCA, SICAV-RAIF, a Luxembourg Reserved Alternative Investment Fund ( 100 %), (6) PHILUX Global General Partners SA, a Luxembourg corporation ( 100 %), (7) PHI Luxembourg Holding SA, a Luxembourg corporation ( 100 %), (8) Asia Diamond Exchange, Inc., a Wyoming corporation ( 100 %), and (9) CO2-1-0 (Carbon) Corp. ( 100 %), collectively referred to as the “Company.” All significant inter-company transactions have been eliminated in consolidation. INTERIM CONSOLIDATED FINANCIAL STATEMENTS The accompanying unaudited interim consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. These statements should be read in conjunction with the audited financial statements for the year ended June 30, 2021. In the opinion of management, all adjustments consisting of normal reoccurring accruals have been made to the financial statements. The results of operation for the three and six months ended December 31, 2021 are not necessarily indicative of the results to be expected for the fiscal year ending June 30, 2022. USE OF ESTIMATES The preparation of financial statements in conformity with generally accepted accounting principles 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 periods. 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. Typically, each investment in marketable securities represents less than twenty percent ( 20 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 December 31, 2021, the marketable securities were recorded at $ 3,804,795 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. Available-for-sale securities 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. ACCOUNTS RECEIVABLE Management reviews the composition of accounts receivable and analyzes historical bad debts. As of December 31, 2021, the Company did not have any accounts receivable. PROPERTIES AND EQUIPMENT Property and equipment are carried at cost less accumulated depreciation. Depreciation is provided using the straight-line method over the estimated useful life of the assets from three to five years 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. 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. 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 In August 2020, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2020-06-Debt-Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40)-Accounting For Convertible Instruments and Contracts in an Entity’s Own Equity. The ASU simplifies accounting for convertible instruments by removing major separation models required under current GAAP. Consequently, more convertible debt instruments will be reported as a single liability instrument with no separate accounting for embedded conversion features. The ASU removes certain settlement conditions that are required for equity contracts to qualify for the derivative scope exception, which will permit more equity contracts to qualify for it. The ASU also simplifies the diluted net income per share calculation in certain areas. The new guidance is effective for annual and interim periods beginning after December 15, 2021, and early adoption is permitted for fiscal years beginning after December 15, 2020. The Company intends to adopt ASU 2020-06 for the quarter beginning January 1, 2022. 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 roll-forward for Level 3 fair value measurements, a non-public 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 non-public 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.

MARKETABLE EQUITY SECURITIES AV

MARKETABLE EQUITY SECURITIES AVAILABLE FOR SALE	6 Months Ended
	Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]
MARKETABLE EQUITY SECURITIES AVAILABLE FOR SALE	NOTE 3 MARKETABLE EQUITY SECURITIES AVAILABLE FOR SALE The Company’s marketable securities are classified as available-for-sale and, as such, are carried at fair value. All of the securities are comprised of shares of common stock of the investee. Securities classified as available-for-sale may be sold in response to changes in interest rates, liquidity needs, and for other purposes. These marketable securities are quoted on the OTC Markets or other public exchanges and are accounted for in accordance with the provisions of SFAS No. 115. Marketable securities held by the Company and classified as available for sale as of December 31, 2021 consisted of 905,000 292,050,000 3,804,795 SCHEDULE OF FAIR VALUE OF INVESTMENTS MARKETABLE EQUITY SECURITIES Securities available for sale Level 1 Level 2 Level 3 Total December 31, 2021 None $ 8,145 $ 3,396,650 $ 3,804,795 June 30, 2021 None $ 5,792 $ 379,665 $ 385,457

PROPERTIES AND EQUIPMENT

PROPERTIES AND EQUIPMENT	6 Months Ended
	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
PROPERTIES AND EQUIPMENT	NOTE 4 PROPERTIES AND EQUIPMENT The Company did not have any properties or equipment as of December 31, 2021.

OTHER ASSETS

OTHER ASSETS	6 Months Ended
	Dec. 31, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
OTHER ASSETS	NOTE 5 OTHER ASSETS Other Assets comprise of the following as of December 31, 2021 and June 30, 2021 SCHEDULE OF OTHER ASSETS December 31, 21 June 30, 21 Investment in Asia Diamond Exchange, Inc. $ 771,982 $ 406,427 Investment in PHILUX Global Funds, SCA, SICAV-RAIF $ 34,113 $ 35,568 Investment in AQuarius Power, Inc. $ 5,000 $ 5,000 Total Other Assets $ 811,095 $ 446,995 Other Assets as of December 31, 2021 consist of a $ 5,000 771,982 34,113 During the quarter ended December 31, 2021, the Company received 157,972,440 0.001 157,972 For the investment in PHILUX Global Funds, as of December 31, 2021, PHI Luxembourg Development SA, a Luxembourg corporation and wholly-owned subsidiary of PHI Group, Inc. held twenty-eight 28,000 100 1,000 100 1,000 34,113

CURRENT LIABILITIES

CURRENT LIABILITIES	6 Months Ended
	Dec. 31, 2021
Payables and Accruals [Abstract]
CURRENT LIABILITIES	NOTE 6 CURRENT LIABILITIES Current Liabilities of the Company consist of the followings as of December 31, 2021 and June 30, 2021. SCHEDULE OF CURRENT LIABILITIES Dec 31, 2021 Jun 30, 2021 Current Liabilities Accounts payable 538,473 608,521 Sub-fund obligations 1,474,775 1,474,775 Accrued expenses 875,058 1,993,478 Short-term notes and loans payable 246,421 325,621 Convertible Promissory Notes 1,466,250 220,230 Due to officers 1,089,754 1,720,322 Derivative liabilities (net) 671,713 - Advance from customer 537,237 582,238 Total Current Liabilities $ 6,960,019 $ 6,925,185 ACCRUED EXPENSES: Accrued expenses as of December 31, 2021 totaling $ 875,058 615,694 259,363 NOTES PAYABLE: As of December 31, 2021, Notes Payable consist of $ 246,421 43,750 1,466,250 ADVANCES FROM CUSTOMERS: As of December 31, 2021, the Company recorded $ 537,237 SUB-FUND OBILGATIONS: The Company has recorded a total of $ 1,474,775

DUE TO OFFICERS

DUE TO OFFICERS	6 Months Ended
	Dec. 31, 2021
Due To Officers
DUE TO OFFICERS	NOTE 7 DUE TO OFFICERS 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 December 31, 2021 and June 30, 2021, the balances were $ 1,089,754 1,720,322 SCHEDULE OF COMPONENTS OF DUE TO OFFICERS AND DIRECTORS Officers/Directors Dec 31, 2021 Jun 30, 2021 Henry Fahman 426,404 $ 1,056,972 Tam Bui 663,350 $ 663,350 Total $ 1,119,118 $ 1,720,322 Officer and Directors $ 1,119,118 $ 1,720,322

LOANS AND PROMISSORY NOTES

LOANS AND PROMISSORY NOTES	6 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
LOANS AND PROMISSORY NOTES	NOTE 8 LOANS AND PROMISSORY NOTES A. SHORT TERM NOTES PAYABLE: In the course of its business, the Company has obtained short-term loans from individuals and institutional investors. As of December 31, 2021, the Company had a total of $ 306,759 225,032 0 36 B. CONVERTIBLE PROMISSORY NOTES OUTSTANDING AS OF DECEMBER 31, 2021 As of December 31, 2021, the Company had a net balance of $ 1,466,250 34,331

PAYROLL TAX LIABILITIES

PAYROLL TAX LIABILITIES	6 Months Ended
	Dec. 31, 2021
Payroll Tax Liabilities
PAYROLL TAX LIABILITIES	NOTE 9 PAYROLL TAX LIABILITIES As of December 31, 2021, payroll tax liabilities were $ 5,747

BASIC AND DILUTED NET PROFIT (L

BASIC AND DILUTED NET PROFIT (LOSS) PER SHARE	6 Months Ended
	Dec. 31, 2021
Earnings Per Share [Abstract]
BASIC AND DILUTED NET PROFIT (LOSS) PER SHARE	NOTE 10 BASIC AND DILUTED NET PROFIT (LOSS) PER SHARE Net loss per share is calculated in accordance with SFAS No. 128, “Earnings per Share”. Under the provision of SFAS No. 128, basic net loss per share is computed by dividing the net loss for the period by the weighted-average number of common shares outstanding for the period. Diluted EPS is based on the weighted-average number of shares of common stock outstanding for the period and common stock equivalents outstanding at the end of the period. Basic and diluted weighted average numbers of shares for the period ended December 31, 2021 were the same since the inclusion of Common stock equivalents is anti-dilutive.

DOMESTICATION IN THE STATE OF W

DOMESTICATION IN THE STATE OF WYOMING	6 Months Ended
	Dec. 31, 2021
Domestication In State Of Wyoming
DOMESTICATION IN THE STATE OF WYOMING	NOTE 11 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 0.001 fifty 5.00 twenty-five 5.00 twenty 5.00 five 5.00 On June 25, 2020, the Company filed Articles of Amendment with the Wyoming Secretary of State to amend Article 10 of the Articles of Domestication to authorize Forty Billion ( 40,000,000,000 0.001 500,000,000 0.001 I. CLASS A PREFERRED STOCK A. DESIGNATIONS, AMOUNTS AND DIVIDENDS 1. Class A Series I Cumulative Convertible Redeemable Preferred Stock a. Designation: Fifty million ( 50,000,000 500,000,000 0.001 b. Number of Shares: The number of shares of Class A Series I Preferred Stock authorized shall be fifty million ( 50,000,000 c. Dividends: Each holder of Class A Series I Preferred Stock is entitled to receive ten percent ( 10 2. Class A Series II Cumulative Convertible Redeemable Preferred Stock a. Designation. Two hundred million ( 200,000,000 500,000,000 0.001 Class A Series II Preferred Stock b. Number of Shares. The number of shares of Class A Series II Preferred Stock authorized shall be two hundred million ( 200,000,000 c. Dividends: Each holder of Class A Series II Preferred Stock is entitled to receive eight percent ( 8 3. Class A Series III Cumulative Convertible Redeemable Preferred Stock a. Designation. Fifty million ( 50,000,000 500,000,000 0.001 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 c. Dividends: Each holder of Class A Series III Preferred Stock is entitled to receive eight percent ( 8 4. Class A Series IV Cumulative Convertible Redeemable Preferred Stock a. Designation. One hundred ninety-nine million ( 199,000,000 500,000,000 0.001 Class A Series IV Preferred Stock b. Number of Shares. The number of shares of Class A Series III Preferred Stock authorized shall be one hundred ninety-nine million ( 199,000,000 c. Dividends: To be determined by the Corporation’s Board of Directors. B. CONVERSION 1. Conversion of Series I, Series II and/or Series IV Class A Preferred Stock into Common Stock of PHI Group, Inc. Each share of the Class A Preferred Stock, either Series I, Series II or Series IV 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, Series II and/or Series IV 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, Series II and/or Series IV 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 80 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. C. 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, Series III or Series IV 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 D. 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 E. 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 F. VOTING RIGHTS 1. G. 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. H. MISCELLANEOUS 1. Status of Redeemed Stock 2. Lost or Stolen Certificates 3 Waiver 4 Notices If to the Corporation: PHI GROUP, INC. 30 N Gould Street, Suite R Sheridan, WY 82801 Facsimile: 702-472-8556 Email: info phiglobal.com If to the holders of Class Preferred Stock, to the address to be listed in the Corporation’s books and Records. II. CLASS B PREFERRED STOCK 1. Class B Series I Preferred Stock a. Designation: One million ( 1,000,000 500,000,000 0.001 b. Number of Shares: The number of shares of Class B Series I Preferred Stock authorized will be one million ( 1,000,000 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 (100,000) votes

STOCKHOLDER_S EQUITY

STOCKHOLDER’S EQUITY	6 Months Ended
	Dec. 31, 2021
Equity [Abstract]
STOCKHOLDER’S EQUITY	NOTE 12 STOCKHOLDER’S EQUITY As of December 31, 2021, the total number of authorized capital stock of the Company consisted of 40 0.001 500,000,000 0.001 60 0.001 TREASURY STOCK The balance of treasury stock as of December 31, 2021 was 484,767 44,170 COMMON STOCK During the quarter ended December 31, 2021, the Company cancelled 235,478,810 54,750,000 52,196,586 30,000,000 166,443,110 1,533,000,000 As of December 31, 2021, there were 28,774,498,378 PREFERRED STOCK CLASS B SERIES I PREFERRED STOCK During the quarter ended December 31, 2021, the Company issued 420,000 0.00538 2,259.60 600,000

STOCK-BASED COMPENSATION PLAN

STOCK-BASED COMPENSATION PLAN	6 Months Ended
	Dec. 31, 2021
Share-based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION PLAN	NOTE 13 STOCK-BASED COMPENSATION PLAN 1. On February March 18, 2015, the Company adopted an Employee Benefit Plan to set aside 1,000,000 2. 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 6,520,000 seven years one year SCHEDULE OF FAIR VALUE OF STOCK OPTION ASSUMPTIONS Risk-free interest rate 1.18 % Expected life 7 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: SCHEDULE OF FAIR VALUE OF STOCK OPTION ISSUANCE DATE Holder Issue Date Maturity Stock Options Exercise Price Fair Value at 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 3. On September 9, 2021, the Company adopted the PHI Group 2021 Employee Benefit Plan and set aside 2,600,000,000 2,352,196,586

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
	Dec. 31, 2021
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 14 RELATED PARTY TRANSACTIONS The Company recognized a total of $ 90,000 Henry Fahman, Chairman and Chief Executive Officer, and Tam Bui, a member of the Board of Directors and Chief Operating Officer, of the Company from time to time lend money to the Company. These loans are without interest and payable upon demand. As of December 31, 2021, the Company still owed the following amounts to Related Parties: SCHEDULE OF RELATED PARTIES No. Name: Title: Amount: Description: 1) Tam Bui Director/COO $ 112,500 Accrued salaries $ 663,350 Loans 2) Henry Fahman Chairman/CEO $ 100,761 Accrued salaries $ 426,404 Loans 3) Tina Phan Secretary/Treasurer $ 274,186 Accrued salaries

CONTRACTS AND COMMITMENTS

CONTRACTS AND COMMITMENTS	6 Months Ended
	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
CONTRACTS AND COMMITMENTS	NOTE 15 CONTRACTS AND COMMITMENTS 1. 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 On September 20, 2018, a Stock Swap Agreement was signed by and between Ms. Do Thi Nghieu, the majority shareholder holding 76 3,060,000 50 2. 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 49 four 156,366 3. 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 49 4. 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 49 5. 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. 6. ISSUANCE OF CONVERTIBLE PROMISSORY NOTES During the quarter ended December 31, 2021, the Company recorded the following convertible notes: a. On September 27, 2021 the Company issued a Convertible Promissory Note to FirstFire Opportunities Fund LLC, a Delaware limited liability company, for $ 275,000 at an interest rate of 12 % per annum. This note will mature twelve months from the Issue Date and may be convertible into shares of common stock of the Company at a fixed conversion price of $ 0.0061 th b. On October 9, 2021, the Company issued a Promissory Note to Sixth Street Lending Group, Ltd., a Virginia corporation, in the amount of $ 43,750 at an interest rate of 8 % per annum. This note will mature twelve months from the Issue Date and may be convertible into shares of common stock of the Company at a 39% discount to the average of the two lowest closing bid prices during the ten trading days immediately prior to the conversion date or may be prepaid on or prior to the 180 th th c. On November 25, 2021, the Company issued a Convertible Promissory Note to Mast Hill Fund LLC, a Delaware limited liability company, in the amount of $ 320,000 12 This note will mature twelve months from the Issue Date and may be convertible into shares of common stock of the Company at a fixed conversion price of $ 0.0061 750.00 7. DEVELOPMENT OF THE MULTI-COMMODITIES CENTER, ASIA DIAMOND EXCHANGE AND LOGISTICS CENTER 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 in principle to allocate more than 200 On June 04, 2021 the Company incorporated Asia Diamond Exchange, Inc., a Wyoming corporation, ID number 2021-001010234, as the holding company for the development of the Asia Diamond Exchange in Vietnam. On July 07, 2021, the Company had an online meeting with the Chairman of Quang Nam Province, the Authority of Chu Lai Open Economic Zone and the heads of various Provincial Departments to update and plan for the implementation of the Asia Diamond Exchange. The Company plans to return to Vietnam in the coming months to prepare for an international press conference and complete the required documents with the Vietnamese provincial and central governments. In addition, another opportunity has arisen 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 8. TERMINATION OF INVESTMENT AGREEMENT On March 6, 2017, PHI Group, Inc., a Nevada corporation (the “Company”) and Azure Capital, a Massachusetts Corporation (the “Investor”) entered into an Investment Agreement (the “Investment Agreement”) and a Registration Rights Agreement (the “Registration Rights Agreement”), each dated March 6, 2017 between the Company and the Investor. Pursuant to the Investment Agreement, the Investor committed to purchase, subject to certain restrictions and conditions, up to $ 10,000,000 20,000,000 This Investment Agreement was amended on August 3, 2017 to allow for the reservation of 65,445,000 The Company had filed a S-1 Registration Statement with the Securities and Exchange Commission to include 7,936,600 On September 7, 2021 terminated this Investment Agreement with Azure Capital effective retroactively January 11, 2021 and subsequently submitted a request to the Securities and Exchange Commission on January 14, 2022 to withdraw the Registration Statement on Form S-1 in connection with this offering. 9. AGREEMENT WITH CHOKY F. SIMANJUNTAK (CYFS Group) On August 02, 2021, the Company signed a Letter of Intent with Indonesia-based CYFS Group, headed by Mr. Choky Fernando Simanjuntak, to sponsor and co-found CO2-1-0 (CARBON) CORP to implement a new disruptive carbon mitigation initiative through environmentally sustainable projects starting in Indonesia, Vietnam, other ASEAN countries, and worldwide. On September 21, 2021 CO2-1-0 (CARBON) CORP was incorporated as a Wyoming corporation to manage this program. PHI Group will contribute a major portion of the development budget and will hold 50.1% shares of CO2-1-0 (CARBON). According to the United Nation Framework Convention on Climate Change (UNFCCC), together with the Paris agreement and Kyoto protocol in 2016, where Indonesia has actively participated and agreed to maintain the earth temperature not to exceed by 1,5 degrees Celsius by 2030. The greenhouse gases (GHG), mainly CO2, CH4, N2O, SF6, HFCs, PFCs, are the root cause of global climate change, each of which can be calculated as CER (CO2 Emission Reduction) equivalent. The target for Indonesia is 834 million tonnes of CER by 2030. CO2-1-0 (CARBON) aims to provide a solution in disruptive decentralized new carbon market system using blockchain technology which will be empowering environmentally sustainable projects (renewable energy/ waste/ agriculture/ forestry/ etc.) starting in Indonesia, Vietnam, other ASEAN countries and worldwide. It has a clear and systematic product development roadmap, and the ultimate milestones of the products estimated to be launched in the near future. The solution, methodology, and improved TACCC (transparent, accurate, consistent, complete, and comparable) business process originally introduced by CO2-1-0 (CARBON) CORP are expected to bring full impact to better environment and life of millions. As of the date of this report, CO2-1-0 (CARBON) CORP has launched the carbon emission mitigation program using blockchain and crypto technologies. 10. MEMORANDUM OF UNDERSTANDING AND SUBSEQUENT AGREEMENT WITH FIVE-GRAIN TREASURE SPIRITS CO., LTD. On September 16, 2021, PHI Group, Inc. entered into a Memorandum of Understanding (“MOU”) with Five-Grain Treasure Spirits Co., Ltd. (“FGTS”), a baiju distilling company with principal business address at Jigu Road Economic Zone, Shulan City, Jilin Province, China, to acquire seventy percent ( 70 100,000,000 Completion of this transaction will be conditioned, among other matters, upon: (a) Upon signing of this MOU, FGTS will cooperate with and accommodate PHIL and/or its representative(s) for further due diligence review of FGTS’s business, including but not limited to its assets, liabilities, property, plant and equipment, technologies, operations, books and records, and business plan. (b) The signing of the Definitive Agreement by the parties within forty-five days following the signing of this MOU and the closing of this transaction by December 31, 2021, unless extended by the consent of both parties in writing. (c) The establishment of a special purpose vehicle (SPV) as the holding company for the seventy percent ( 70 PHI Group, Inc. changed the name of its subsidiary “Provimex, Inc.”, a Nevada corporation established on September 23, 2004, Entity Number C25551-4, to Empire Spirits, Inc. as the holding company for the acquisition of seventy percent ( 70 Baijiu is a white spirit distilled from sorghum. It is similar to vodka but with a fragrant aroma and taste. It is currently the most consumed spirit in the world. Mainly consumed in China, it is gaining popularity in the rest of the world. Five-Grain specializes in the production and sales of spirits and the development of proprietary spirit production processes. It also possesses a patented technology to grow red sorghum for baiju manufacturing. The patented grain produces superior yield and quality. Five-Grain is a reputable bulk alcohol supplier to some of the largest spirits companies in the world. On January 18, 2022 PHI Group entered into an Agreement of Purchase and Sale with Five Grain Treasure Spirits Co., Ltd. (“FGTS) and the majority shareholders of FGTS (the “Majority Shareholders”) to acquire seventy percent ( 70 one 11. SERVICES AGREEMENTS FOR DEVELOPMENT OF ADE TOKENS USING BLOCKCHAIN AND CRYPTO TECHNOLOGIES On September 21, 2021, the Company signed Services Agreements with Johnny Park (“JP”) and Whankuk Je (“WJ”), collectively (“the Consultants”), to form an “Asia Diamond Exchange Blockchain Task Force” to develop “ADE Tokens” in connection with the Asia Diamond Exchange to be established in Vietnam. The Consultants will be totally responsible for planning, organizing, designing, structuring, configuring, programming and implementing the necessary systems, architecture, and platform for launching a most optimum ADE Token possible in connection with the Asia Diamond Exchange using advanced crypto and blockchain technologies to finance the development and implementation of the Asia Diamond Exchange project. As of December 31, 2021, the Company has issued One Billion One Hundred Fifty Million ( 1,150,000,000 1,150,000,000 12. FINANCING CONTRACT AGREEMENT WITH HAJ FINANCE GROUP Effective October 17, 2021 the Company signed a contract agreement with Haj Finance Group, a corporation registered in Oman, Hatat House Ground Floor, Ruwi, Muscat, Sultanate of Oman, for a financing program in the amount of $ 1,500,000,000 2.5 thirty-five three 13. BUSINESS COOPERATION AGREEMENT WITH DIGITAL SOLUTIONS COMPANY LTD. On November 1, 2021, the Company signed an Business Cooperation Agreement with Digital Solutions Company Limited, a Vietnamese company, to cooperate in developing technical solutions for a variety of industries, including real estate, energy, agriculture and healthcare using digital, blockchain and crypto technologies. Digital Solutions currently assists CO2-1-0 (CARBON) CORP, a subsidiary of PHI Group, Inc., to launch the new disruptive carbon mitigation initiative and will also support PHI Group with technological solutions for the Asia Diamond Exchange to be established in Vietnam, as well as jointly advance a number of special projects for the benefits of both companies. 14. LOAN AGREEMENT DEED WITH NEOK FINANCIAL INCORPORATED On November 14, 2021 the Company signed a Loan Agreement Deed with Neok Financial Incorporated, a corporation organized and existing under the laws of United Arab Emirates, with office address located at Trade Center Road, Bur Dubai, Dubai, United Arab Emirates, for a financing program in the amount of $ 2,000,000,000 2.00 35 This event was reported to the Securities and Exchange Commission on Form 8-K filed on November 22, 2021. 15. LOAN APPROVAL LETTER AND TERM SHEET WITH GEZA HOLDING AG On December 10, 2021, the registrant received a Loan Approval Letter from Geza Holding AG, a Swiss company located at Bleicherweg 18, 8002, Zurich, Switzerland for a USD 1.5 fifteen years 3.5 one The closing of this transaction is subject to having met certain administrative and legal requirements, including operational due diligence, technical and financial due diligence and evaluation work, approval of management and board of directors, execution of a definitive agreement and the incorporation of a Special Purpose Company (SPV), which are customary and reasonable for a transaction of this type. Subject to the fulfilment of the requirements mentioned herein, the closing of this transaction is estimated to occur 30 days after the date of the Loan Approval Letter. The Company intends to use the funds from this loan program for a variety of investment opportunities, including but not limited to the Asia Diamond Exchange, the Multi-Commodities Center, selective projects in the areas of real estate, infrastructure, renewable energy, healthcare, agriculture and special opportunities. This event was reported to the Securities and Exchange Commission on Form 8-K filed on December 20, 2021. 16. AGREEMENT WITH CAT TUONG AGRICULTURAL PROCESSING AND PRODUCTION COMPANY LIMITED On December 17, 2021, the Company signed a consulting agreement with Cat Tuong Agricultural and Production Company Ltd. (“CAT TUONG”), a Vietnamese company, to assist CAT TUONG to list its stock on the Nasdaq Stock Market and obtain long-term financing for growth and expansion . According to the agreement, PHI Group will receive $ 1,000,000 17. EXTENSION of Repurchase Date for the Company’s Common Stock On December 27, 2021, the Board of Directors of PHI Group, Inc., a corporation originally incorporated in the State of Nevada on June 08, 1982 and redomiciled in the State of Wyoming on September 20, 2017 (the “Company”), adopted the following resolutions in lieu of a meeting: WHEREAS, on June 25, 2021 the Company’s Board of Directors passed a corporate resolution to extend the time period for the repurchase of its own shares of common stock from the open market from time to time in accordance with the terms mentioned below: 1. Purpose of Repurchase: To enhance future shareholder returns. 2. Details of Repurchase: a. Class of shares to be repurchased: Common Stock of PHI Group, Inc. b. Total number of repurchasable shares: Up to twenty-five billion shares, or as many as economically practical. c. Total repurchase amount: To be determined by prevalent market prices at times of transaction. d. Methods of repurchase: Open market purchase and/or negotiated transactions. e. Repurchase period: As soon as possible and from time to time until December 31, 2021. f. The Company intends to fund the proposed share repurchase program with the proceeds from the disposal of a portion of certain non-core assets and from anticipated sources of income of the Company. g. The share repurchase program will be in full compliance with state and federal laws and certain covenants with the Company’s note-holders. WHEREAS, in light of the adverse effects due to the global coronavirus pandemic as well as the Company’s current corporate priorities, its Board of Directors has determined that it is in the best interests of the Company and its shareholders to further extend the Common Stock repurchase period to March 31, 2022. BE IT RESOLVED, that the Corporation is authorized to repurchase its own shares of common stock from the open market from time to time in accordance with the terms mentioned below: 1. Purpose of Repurchase: To enhance future shareholder returns. 2. Details of Repurchase: a. Class of shares to be repurchased: Common Stock of PHI Group, Inc. b. Amount of repurchasable shares: As many as economically conducive and optimal for the Company. c. Total repurchase amount: To be determined by prevalent market prices at times of transaction. d. Methods of repurchase: Open market purchase and/or negotiated transactions. e. Repurchase period: Until March 31, 2022. f. The Company intends to fund the proposed share repurchase program with the proceeds from the potential disposal of certain non-core assets and other sources, subject to liquidity, availability of funds and satisfaction of contractual obligations. g. The share repurchase program will be in full compliance with state and federal laws and certain covenants with the Company’s note-holders. This event was reported with the Securities and Exchange Commission in Form 8-K filed on December 30, 2021. 18. Extension of Record Date for the Spin-off of Common Stock of American Pacific Resources, Inc. On December 27, 2021, the Board of Directors of PHI Group, Inc., a corporation originally incorporated in the State of Nevada on June 08, 1982 and redomiciled in the State of Wyoming on September 20, 2017 (the “Company”), adopted the following resolutions in lieu of a meeting: WHEREAS, on June 25, 2021 the Company’s Board of Directors passed a resolution with respect to the distribution of a special stock dividend from American Pacific Resources, Inc. (“APR”), a subsidiary of the Company, to shareholders of Common Stock of the Company to further extend the Record Date to December 31, 2021 and amend the provisions for the afore-mentioned stock dividend as follows: (a) Eligible shareholders: In order to be eligible for the above-mentioned special stock dividend, the minimum amount of Common Stock of PHI Group, Inc. each shareholder must hold as of December 31, 2021 (the New Record Date) is two thousand ( 2,000 ) shares; (b) Dividend ratio: All eligible shareholders of Common Stock of the Company as of the new Record Date will be entitled to receive one (1) share of Common Stock of American Pacific Resources, Inc. for every two thousand ( 2,000 ) shares of Common Stock of PHI Group, Inc. held by such shareholders as of the new Record date; and (c) Payment Date: the Payment Date for the distribution of the special stock dividend to be ten (10) business days after a registration statement for said special stock dividend shares is declared effective by the Securities and Exchange Commission . WHEREAS, due to the continued adverse effects of the coronavirus pandemic and other factors that have affected the development of APR, it deems necessary for the Company to further extend the Record Date of the APR special stock dividend to June 30, 2022 in order to allow APR additional time to reach certain milestones that would make the spin-off of APR and this special stock dividend distribution economically beneficial for the Company’s shareholders; NOW, THEREFORE, BE IT RESOLVED, that the Company further extend the Record Date to June 30, 2022 and amend the provisions for the afore-mentioned stock dividend as follows: (a) Eligible shareholders: In order to be eligible for the above-mentioned special stock dividend, the minimum amount of Common Stock of PHI Group, Inc. each shareholder must hold as of June 30, 2022 (the New Record Date) is two thousand ( 2,000 ) shares; (b) Dividend ratio: All eligible shareholders of Common Stock of the Company as of the new Record Date will be entitled to receive one (1) share of Common Stock of American Pacific Resources, Inc. for every two thousand ( 2,000 ) shares of Common Stock of PHI Group, Inc. held by such shareholders as of the new Record date; and (c) Payment Date: the Payment Date for the distribution of the special stock dividend to be ten (10) business days after a registration statement for said special stock dividend shares is declared effective by the Securities and Exchange Commission. This event was reported with the Securities and Exchange Commission in Form 8-K filed on December 30, 2021.

GOING CONCERN UNCERTAINTY

GOING CONCERN UNCERTAINTY	6 Months Ended
	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
GOING CONCERN UNCERTAINTY	NOTE 16 GOING CONCERN UNCERTAINTY As shown in the accompanying consolidated financial statements, the Company has accumulated deficit of $ 67,115,338 1,463,100 10,591,638 212,867

SUBSEQUENT EVENT

SUBSEQUENT EVENT	6 Months Ended
	Dec. 31, 2021
Subsequent Events [Abstract]
SUBSEQUENT EVENT	NOTE 17 SUBSEQUENT EVENT These financial statements were approved by management and available for issuance on or about February 21, 2022. Subsequent events have been evaluated through this date. 1. ISSUANCES OF COMMON STOCK From January 1, 2022 to February 21, 2022, the Company issued a total of 119,466,842 2. Incorporation of wholly-owned subsidiary PHILUX GLOBAL ENERGY, INC. for the acquisition of Kota Energy Group LLC and Kota Construction LLC On January 3, 2022, the Company filed “Profit Corporation Articles of Incorporation” with the Wyoming Secretary of State to incorporate “PHILUX GLOBAL ENERGY, INC.” – Original ID: 2020-001066221, as a wholly-owned subsidiary of the Company to serve as the holding company for the contemplated acquisition of fifty-point one percent ( 50.10% 3. Memorandum of Understanding/Loan Agreement between Al Aqel and Partners Investment LLC and PHI Group, Inc. On January 17, 2022, the registrant signed a Memorandum of Understanding/Loan Agreement with Al Aqel and Partners Investment LLC, an Oman company with address at Muscat Governorate Bousher 119 Alamarat, Muscat. P.O. BOX: 2393 Sultanate of Oman, for a One ten years 3.00% two-year The closing of this transaction is subject to having met certain administrative, legal and financial requirements, including a collateral for the loan to be secured by a surety bond of 1% of the total loan amount to deducted from the proceeds of the loan. The Company intends to use the funds from this loan program for acquisition and development of operating business targets, as well as investment in selective projects in the areas of real estate, infrastructure, renewable energy, healthcare, agriculture and special opportunities. This event was reported with the Securities and Exchange Commission on Form 8-K filed on January 31, 2022. 4. Loan Agreement between Arab League Investment Group and PHI Group, Inc. On January 17, 2022, the registrant signed a Loan Agreement with Arab League Investment Group, an Egyptian company with address at Arab League Tahrir Square, Downtown Business District, Cairo, Egypt, for acquisition financing Two fifteen years 2.5% three-year The closing of this transaction is subject to having met certain administrative, legal and financial requirements, including an acceptable and satisfactory collateral for the loan. The Company intends to use the funds from this loan program for the acquisition of two target companies and further business development of the acquirees. This event was reported on Form 8-K as filed with the Securities and Exchange Commission on January 31, 2022. 5. AGREEMENT OF PURCHASE AND SALE WITH FIVE GRAIN TREASURE SPIRITS CO. LTD. On January 18, 2022, PHI Group, Inc. (the “Registrant”) entered into an Agreement of Purchase and Sale with Five Grain Treasure Spirits Co., Ltd. (“FGTS”), a company organized and existing by virtue of the laws of People’s Republic of China, with principal business address at Jigu Road Economic Zone, Shulan City, Jilin Province, China, and the holders of majority equity ownership in FGTS (the “Majority Shareholders”) to acquire seventy percent ( 70 (i) A two percent (2%) earnest deposit of the Total Purchase Price shall be paid upon the signing of this Agreement; (ii) Thirty-two Million Six Hundred Sixty-Six U.S. Dollars (USD 32,666,666 (ii) Thirty-two Million Six Hundred Sixty-Six U.S. Dollars (USD 32,666,666 (ii) Thirty-two Million Six Hundred Sixty-Six U.S. Dollars (USD 32,666,666 The Closing of this transaction is scheduled for September 18, 2022 or sooner when the total purchase price is paid in full. The foregoing description of the Agreement of Purchase and Sale dated January 18, 2022 among PHI Group, Inc., Five Grain Treasure Spirits Co., Ltd. and its Majority Shareholders is qualified in its entirety by reference to the full text of said Agreement, which is filed as Exhibit 10.1 to the Current Report on Form 8-K with the Securities and Exchange Commission on January 20, 2022 and incorporated herein by reference. 6. AGREEMENT OF PURCHASE AND SALE WITH KOTA CONSTRUCTION LLC AND KOTA ENERGY GROUP LLC Effective January 26, 2022, PHI Group, Inc. signed Agreements of Purchase and Sale with KOTA Construction LLC and KOTA Energy Group LLC, both of which are California limited liability companies (collectively referred to as “KOTA”), to acquire 50.10% 12,524,469 50.10% 51,600,531 64,125,000 The foregoing description of Agreements of Purchase and Sale by and between the Company and KOTA is qualified in their entirety by reference to the full text of said Agreements, which were filed as Exhibit 10.1 and Exhibit 10.2 to the Current Report on Form 8-K filed with the Securities and Exchange Commission on February 1, 2022 and incorporated herein by reference. KOTA, operating under two legal entities as Kota Energy Group LLC and Kota Construction LLC, provides solutions for solar energy to residential and commercial customers, with unique competitive advantages. As one of the fastest growing sales and installation engines in the country, KOTA prioritizes itself to have the best employee and customer experience possible, through its high standard of installation quality, its industry leading technology platforms, which enable increased sales volume, while maintaining fast, and transparent project timelines. It’s strategic partnerships with key players in the solar industry, have increased margins, while delivering top tier products to customers, without sacrificing quality. KOTA’s guiding core values of “Become, Create, Give” have been the driving factor in decision making that have led it to become the most highly sought-after solar company to work with in the solar industry. Website: KOTA Energy Group: https://www.kotasolar.com KOTA’s management has devised a plan to accelerate the company’s growth and expansion and is confident that with adequate financial resources KOTA can generate up to one billion dollars in revenue within the next twelve months. 7. OFFERING STATEMENT ON FORM 1-A On February 9, 2022, the Company filed a Form 1-A with the Securities and Exchange Commission to offer up to 3,750,000,000 0.001 75,000,000

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
PRINCIPLES OF CONSOLIDATION	PRINCIPLES OF CONSOLIDATION The consolidated financial statements include the accounts of PHI Group, Inc. and its wholly owned subsidiaries: (1) Vinafilms International, Inc. (formerly American Pacific Plastics, Inc.), a Wyoming corporation ( 100 %), (2) American Pacific Resources, Inc., a Wyoming corporation ( 100 %), (3) PHILUX Capital Advisors, Inc., a Wyoming corporation ( 100 %), (4) PHI Luxembourg Development S.A., a Luxembourg corporation ( 100 %), (5) PHILUX Global Funds SCA, SICAV-RAIF, a Luxembourg Reserved Alternative Investment Fund ( 100 %), (6) PHILUX Global General Partners SA, a Luxembourg corporation ( 100 %), (7) PHI Luxembourg Holding SA, a Luxembourg corporation ( 100 %), (8) Asia Diamond Exchange, Inc., a Wyoming corporation ( 100 %), and (9) CO2-1-0 (Carbon) Corp. ( 100 %), collectively referred to as the “Company.” All significant inter-company transactions have been eliminated in consolidation.
INTERIM CONSOLIDATED FINANCIAL STATEMENTS	INTERIM CONSOLIDATED FINANCIAL STATEMENTS The accompanying unaudited interim consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. These statements should be read in conjunction with the audited financial statements for the year ended June 30, 2021. In the opinion of management, all adjustments consisting of normal reoccurring accruals have been made to the financial statements. The results of operation for the three and six months ended December 31, 2021 are not necessarily indicative of the results to be expected for the fiscal year ending June 30, 2022.
USE OF ESTIMATES	USE OF ESTIMATES The preparation of financial statements in conformity with generally accepted accounting principles 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 periods. 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. Typically, each investment in marketable securities represents less than twenty percent ( 20 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 December 31, 2021, the marketable securities were recorded at $ 3,804,795
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. Available-for-sale securities 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.
ACCOUNTS RECEIVABLE	ACCOUNTS RECEIVABLE Management reviews the composition of accounts receivable and analyzes historical bad debts. As of December 31, 2021, the Company did not have any accounts receivable.
PROPERTIES AND EQUIPMENT	PROPERTIES AND EQUIPMENT Property and equipment are carried at cost less accumulated depreciation. Depreciation is provided using the straight-line method over the estimated useful life of the assets from three to five years
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.
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.
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 In August 2020, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2020-06-Debt-Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40)-Accounting For Convertible Instruments and Contracts in an Entity’s Own Equity. The ASU simplifies accounting for convertible instruments by removing major separation models required under current GAAP. Consequently, more convertible debt instruments will be reported as a single liability instrument with no separate accounting for embedded conversion features. The ASU removes certain settlement conditions that are required for equity contracts to qualify for the derivative scope exception, which will permit more equity contracts to qualify for it. The ASU also simplifies the diluted net income per share calculation in certain areas. The new guidance is effective for annual and interim periods beginning after December 15, 2021, and early adoption is permitted for fiscal years beginning after December 15, 2020. The Company intends to adopt ASU 2020-06 for the quarter beginning January 1, 2022. 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 roll-forward for Level 3 fair value measurements, a non-public 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 non-public 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.

MARKETABLE EQUITY SECURITIES _2

MARKETABLE EQUITY SECURITIES AVAILABLE FOR SALE (Tables)	6 Months Ended
	Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]
SCHEDULE OF FAIR VALUE OF INVESTMENTS MARKETABLE EQUITY SECURITIES	SCHEDULE OF FAIR VALUE OF INVESTMENTS MARKETABLE EQUITY SECURITIES Securities available for sale Level 1 Level 2 Level 3 Total December 31, 2021 None $ 8,145 $ 3,396,650 $ 3,804,795 June 30, 2021 None $ 5,792 $ 379,665 $ 385,457

OTHER ASSETS (Tables)

OTHER ASSETS (Tables)	6 Months Ended
	Dec. 31, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
SCHEDULE OF OTHER ASSETS	Other Assets comprise of the following as of December 31, 2021 and June 30, 2021 SCHEDULE OF OTHER ASSETS December 31, 21 June 30, 21 Investment in Asia Diamond Exchange, Inc. $ 771,982 $ 406,427 Investment in PHILUX Global Funds, SCA, SICAV-RAIF $ 34,113 $ 35,568 Investment in AQuarius Power, Inc. $ 5,000 $ 5,000 Total Other Assets $ 811,095 $ 446,995

CURRENT LIABILITIES (Tables)

CURRENT LIABILITIES (Tables)	6 Months Ended
	Dec. 31, 2021
Payables and Accruals [Abstract]
SCHEDULE OF CURRENT LIABILITIES	Current Liabilities of the Company consist of the followings as of December 31, 2021 and June 30, 2021. SCHEDULE OF CURRENT LIABILITIES Dec 31, 2021 Jun 30, 2021 Current Liabilities Accounts payable 538,473 608,521 Sub-fund obligations 1,474,775 1,474,775 Accrued expenses 875,058 1,993,478 Short-term notes and loans payable 246,421 325,621 Convertible Promissory Notes 1,466,250 220,230 Due to officers 1,089,754 1,720,322 Derivative liabilities (net) 671,713 - Advance from customer 537,237 582,238 Total Current Liabilities $ 6,960,019 $ 6,925,185

DUE TO OFFICERS (Tables)

DUE TO OFFICERS (Tables)	6 Months Ended
	Dec. 31, 2021
Due To Officers
SCHEDULE OF COMPONENTS OF DUE TO OFFICERS AND DIRECTORS	SCHEDULE OF COMPONENTS OF DUE TO OFFICERS AND DIRECTORS Officers/Directors Dec 31, 2021 Jun 30, 2021 Henry Fahman 426,404 $ 1,056,972 Tam Bui 663,350 $ 663,350 Total $ 1,119,118 $ 1,720,322 Officer and Directors $ 1,119,118 $ 1,720,322

STOCK-BASED COMPENSATION PLAN (

STOCK-BASED COMPENSATION PLAN (Tables)	6 Months Ended
	Dec. 31, 2021
Share-based Payment Arrangement [Abstract]
SCHEDULE OF FAIR VALUE OF STOCK OPTION ASSUMPTIONS	SCHEDULE OF FAIR VALUE OF STOCK OPTION ASSUMPTIONS Risk-free interest rate 1.18 % Expected life 7 Expected volatility 239.3 % Vesting is based on a one-year cliff from grant date.
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: SCHEDULE OF FAIR VALUE OF STOCK OPTION ISSUANCE DATE Holder Issue Date Maturity Stock Options Exercise Price Fair Value at 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

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	6 Months Ended
	Dec. 31, 2021
Related Party Transactions [Abstract]
SCHEDULE OF RELATED PARTIES	As of December 31, 2021, the Company still owed the following amounts to Related Parties: SCHEDULE OF RELATED PARTIES No. Name: Title: Amount: Description: 1) Tam Bui Director/COO $ 112,500 Accrued salaries $ 663,350 Loans 2) Henry Fahman Chairman/CEO $ 100,761 Accrued salaries $ 426,404 Loans 3) Tina Phan Secretary/Treasurer $ 274,186 Accrued salaries

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)	6 Months Ended
	Dec. 31, 2021	Jun. 30, 2021
Maximum percentage of outstanding common stock and stock equivalents of investee	20.00%
Marketable securities	$ 3,804,795	$ 385,457
Property and equipment, estimated useful life	three to five years
Vinafilms International, Inc. [Member]
Equity Method Investment, Ownership Percentage	100.00%
American Pacific Resources, Inc [Member]
Equity Method Investment, Ownership Percentage	100.00%
PHILUX Capital Advisors, Inc [Member]
Equity Method Investment, Ownership Percentage	100.00%
PHI Luxembourg Development S.A. [Member]
Equity Method Investment, Ownership Percentage	100.00%
PHILUX Global Funds SCA, SICAV-RAIF [Member]
Equity Method Investment, Ownership Percentage	100.00%
PHILUX Global General Partners SA [Member]
Equity Method Investment, Ownership Percentage	100.00%
PHI Luxembourg Holding SA [Member]
Equity Method Investment, Ownership Percentage	100.00%
Asia Diamond Exchange, Inc. [Member]
Equity Method Investment, Ownership Percentage	100.00%
CO2-1-0 (carbon) Corp [Member]
Equity Method Investment, Ownership Percentage	100.00%

SCHEDULE OF FAIR VALUE OF INVES

SCHEDULE OF FAIR VALUE OF INVESTMENTS MARKETABLE EQUITY SECURITIES (Details) - USD ($)	Dec. 31, 2021	Jun. 30, 2021
Defined Benefit Plan Disclosure [Line Items]
Marketable securities	$ 3,804,795	$ 385,457
Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Marketable securities	0	0
Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Marketable securities	8,145	5,792
Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Marketable securities	$ 3,396,650	$ 379,665

MARKETABLE EQUITY SECURITIES _3

MARKETABLE EQUITY SECURITIES AVAILABLE FOR SALE (Details Narrative) - USD ($)	Dec. 31, 2021	Jun. 30, 2021
Marketable Securities [Line Items]
Marketable securities, fair value	$ 3,804,795	$ 385,457
OTC Markets [Member] | Myson Group, Inc., [Member]
Marketable Securities [Line Items]
Number of marketable securities available for sale	905,000
OTC Markets [Member] | Sports Pouch Beverage Co [Member]
Marketable Securities [Line Items]
Number of marketable securities available for sale	292,050,000

SCHEDULE OF OTHER ASSETS (Detai

SCHEDULE OF OTHER ASSETS (Details) - USD ($)	Dec. 31, 2021	Jun. 30, 2021
Total Other Assets	$ 811,095	$ 446,995
Asia Diamond Exchange, Inc. [Member]
Total Other Assets	771,982	406,427
PHILUX Global Funds [Member]
Total Other Assets	34,113	35,568
AQuarius Power, Inc [Member]
Total Other Assets	$ 5,000	$ 5,000

OTHER ASSETS (Details Narrative

OTHER ASSETS (Details Narrative)	6 Months Ended	12 Months Ended
	Dec. 31, 2021USD ($)$ / sharesshares	Jun. 30, 2021USD ($)	Dec. 31, 2021EUR (€)shares
AQuarius Power, Inc [Member]
Investments	$ 5,000
Asia Diamond Exchange, Inc. [Member]
Number of shares received, value	$ 771,982
Number of shares received | shares	157,972,440
Shares, price per share | $ / shares	$ 0.001
Development costs		$ 157,972
Ownership interest	100.00%		100.00%
PHILUX Global Funds [Member]
Number of shares received, value	$ 34,113
Value of shares held	$ 34,113		€ 1,000
PHI Luxembourg Development S.A. [Member]
Number of shares held | shares	28		28
Value of shares held | €			€ 28,000
Ownership interest	100.00%		100.00%
PHILUX Global General Partner SA [Member]
Value of shares held | €			€ 1,000
PHI Luxembourg Holding SA [Member]
Ownership interest	100.00%		100.00%

SCHEDULE OF CURRENT LIABILITIES

SCHEDULE OF CURRENT LIABILITIES (Details) - USD ($)	Dec. 31, 2021	Jun. 30, 2021
Current Liabilities
Accounts payable	$ 538,473	$ 608,521
Sub-fund obligations	1,474,775	1,474,775
Accrued expenses	875,058	1,993,478
Short-term notes and loans payable	246,421	325,621
Convertible Promissory Notes	1,466,250	220,230
Due to officers	1,089,754	1,720,322
Derivative liabilities (net)	671,713
Advance from customer	537,237	582,238
Total Current Liabilities	$ 6,960,019	$ 6,925,185

CURRENT LIABILITIES (Details Na

CURRENT LIABILITIES (Details Narrative) - USD ($)	Dec. 31, 2021	Jun. 30, 2021
Short-term Debt [Line Items]
Accrued expenses	$ 875,058	$ 1,993,478
Accrued Salaries, Current	615,694
Accrued interest	259,363
Advances from customers	537,237	582,238
Sub - fund obligations	1,474,775	$ 1,474,775
Short Term Notes [Member]
Short-term Debt [Line Items]
Notes payable	246,421
PPP Loan [Member]
Short-term Debt [Line Items]
Notes payable	43,750
Convertible Promissory Notes [Member]
Short-term Debt [Line Items]
Notes payable	$ 1,466,250

SCHEDULE OF COMPONENTS OF DUE T

SCHEDULE OF COMPONENTS OF DUE TO OFFICERS AND DIRECTORS (Details) - USD ($)	Dec. 31, 2021	Jun. 30, 2021
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Officer and Directors	$ 1,119,118	$ 1,720,322
Henry Fahman [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Officer and Directors	426,404	1,056,972
Tam Bui [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Officer and Directors	$ 663,350	$ 663,350

DUE TO OFFICERS (Details Narrat

DUE TO OFFICERS (Details Narrative) - USD ($)	Dec. 31, 2021	Jun. 30, 2021
Due To Officers
Due to officers	$ 1,089,754	$ 1,720,322

LOANS AND PROMISSORY NOTES (Det

LOANS AND PROMISSORY NOTES (Details Narrative)	Dec. 31, 2021USD ($)
Short-term Notes Payable [Member]
Short-term Debt [Line Items]
Notes payable	$ 306,759
Accrued interest	$ 225,032
Short-term Notes Payable [Member] | Minimum [Member]
Short-term Debt [Line Items]
Percentage of short-term notes payable	0.00%
Short-term Notes Payable [Member] | Maximum [Member]
Short-term Debt [Line Items]
Percentage of short-term notes payable	36.00%
Convertible Promissory Notes [Member]
Short-term Debt [Line Items]
Accrued interest	$ 34,331
Convertible debt	$ 1,466,250

PAYROLL TAX LIABILITIES (Detail

PAYROLL TAX LIABILITIES (Details Narrative)	Dec. 31, 2021USD ($)
Payroll Tax Liabilities
Payroll tax liabilities	$ 5,747

DOMESTICATION IN THE STATE OF_2

DOMESTICATION IN THE STATE OF WYOMING (Details Narrative)	6 Months Ended
	Dec. 31, 2021$ / sharesshares	Jun. 30, 2021$ / sharesshares	Jun. 25, 2020$ / sharesshares	Sep. 20, 2017$ / sharesshares
Common stock, shares authorized	40,000,000,000	40,000,000,000	40,000,000,000
Preferred stock, par value | $ / shares	$ 0.001	$ 0.001	$ 0.001
Preferred stock, shares authorized	500,000,000	500,000,000	500,000,000
Preferred stock, par value | $ / shares	$ 0.001	$ 0.001	$ 0.001
Class B Series I Preferred Stock [Member]
Preferred stock, shares authorized	1,000,000
Preferred stock, par value | $ / shares	$ 0.001
Preferred stock, voting rights	one hundred thousand (100,000) votes
Board of Directors [Member]
Purchase price percentage	120.00%
American Pacific Plastics, Inc [Member]
Preferred sock conversion shares issued	50,000,000
Preferred stock conversion percentage	0.80
Voting Common Stock [Member]
Common stock, shares authorized				9,000,000
Preferred stock, par value | $ / shares				$ 0.001
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
Class A Series I Cumulative Convertible Redeemable Preferred Stock [Member]
Preferred stock, shares authorized	50,000,000
Preferred stock, par value | $ / shares	$ 0.001
Percentage of non-compounding cumulative dividends per annum	10.00%
Class A Series II Cumulative Convertible Redeemable Preferred Stock [Member]
Preferred stock, shares authorized	200,000,000
Preferred stock, par value | $ / shares	$ 0.001
Percentage of non-compounding cumulative dividends per annum	8.00%
Class A Series III Cumulative, Convertible, Redeemable Preferred Stock [Member]
Preferred stock, shares authorized	50,000,000
Preferred stock, par value | $ / shares	$ 0.001
Percentage of non-compounding cumulative dividends per annum	8.00%
Class A Series IV Cumulative Convertible Redeemable Preferred Stock [Member]
Preferred stock, shares authorized	199,000,000
Preferred stock, par value | $ / shares	$ 0.001

STOCKHOLDER_S EQUITY (Details N

STOCKHOLDER’S EQUITY (Details Narrative) - USD ($)	3 Months Ended	6 Months Ended
	Dec. 31, 2021	Dec. 31, 2021	Feb. 09, 2022	Jan. 02, 2022	Jun. 30, 2021	Jun. 25, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
Common stock, shares authorized	40,000,000,000	40,000,000,000			40,000,000,000	40,000,000,000
Common stock, par value	$ 0.001	$ 0.001			$ 0.001	$ 0.001
Preferred stock, shares authorized	500,000,000	500,000,000			500,000,000	500,000,000
Preferred stock, par value	$ 0.001	$ 0.001			$ 0.001	$ 0.001
Treasury stock, shares	484,767	484,767			484,767
Treasury stock, value	$ 44,170	$ 44,170			$ 44,170
Common stock, shares issued	28,774,498,378	28,774,498,378			26,081,268,895
Common stock, shares outstanding	28,774,498,378	28,774,498,378			26,081,268,895
Stock issued during period, value	$ 219,654
Consulting Service [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stock issued for service, shares		1,533,000,000
Warrant [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Exercise of warrants, shares	166,443,110	166,443,110
Class B Series I Preferred Stock [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Preferred stock, shares issued	600,000	600,000
Preferred stock, shares outstanding	600,000	600,000
Class B Series I Preferred Stock [Member] | Board of Directors and Officers [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stock issued during period, shares		420,000
Price per shares	$ 0.00538	$ 0.00538
Stock issued during period, value		$ 2,259.60
Cash [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stock issued for service, shares		30,000,000
Accrued Salaries [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stock issued for service, shares		52,196,586
Convertible Debt [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Conversion of convertible securities, shares		54,750,000
PHILUX Global Funds [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Common stock cancelled		235,478,810
Subsequent Event [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Common stock, shares authorized				60,000,000,000
Common stock, par value				$ 0.001
Price per shares			$ 0.001

SCHEDULE OF FAIR VALUE OF STOCK

SCHEDULE OF FAIR VALUE OF STOCK OPTION ASSUMPTIONS (Details)	6 Months Ended
	Dec. 31, 2021
Share-based Payment Arrangement [Abstract]
Risk-free interest rate	1.18%
Expected life	7 years
Expected volatility	239.30%

SCHEDULE OF FAIR VALUE OF STO_2

SCHEDULE OF FAIR VALUE OF STOCK OPTION ISSUANCE DATE (Details)	6 Months Ended
	Dec. 31, 2021USD ($)$ / sharesshares
Tam Bui [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
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]
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
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]
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
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

STOCK-BASED COMPENSATION PLAN_2

STOCK-BASED COMPENSATION PLAN (Details Narrative) - $ / shares	Sep. 09, 2021	Sep. 23, 2016	Dec. 31, 2021	Mar. 18, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee benefit plan shares of common stock for eligible employees				1,000,000
2021 Employee Benefit Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares issued for employee benefit plan	2,600,000,000
Number of shares issued for services			2,352,196,586
Henry Fahman [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
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

SCHEDULE OF RELATED PARTIES (De

SCHEDULE OF RELATED PARTIES (Details)	Dec. 31, 2021USD ($)
Tam Bui [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Accrued salaries	$ 112,500
Loans	663,350
Henry Fahman [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Accrued salaries	100,761
Loans	426,404
Tina Phan [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Accrued salaries	$ 274,186

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative)	Dec. 31, 2021USD ($)
President, Chief Operating Officer and Secretary [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Accrued salaries	$ 90,000

CONTRACTS AND COMMITMENTS (Deta

CONTRACTS AND COMMITMENTS (Details Narrative)

Jun. 30, 2022shares

Dec. 10, 2021USD ($)

Nov. 25, 2021USD ($)$ / shares

Oct. 17, 2021USD ($)

Oct. 09, 2021USD ($)

Sep. 27, 2021USD ($)$ / shares

Jun. 25, 2021shares

Nov. 20, 2020USD ($)

Nov. 09, 2020USD ($)

Aug. 10, 2020USD ($)

Sep. 20, 2018shares

Aug. 03, 2017shares

Mar. 06, 2017USD ($)shares

Dec. 31, 2021USD ($)hashares

Sep. 30, 2021shares

Dec. 31, 2021hashares

Jan. 18, 2022USD ($)

Dec. 17, 2021USD ($)

Nov. 14, 2021USD ($)

Sep. 16, 2021USD ($)

Aug. 13, 2021USD ($)

Aug. 06, 2018

Value of common stock purchase

$ 219,654

2021 Employee Benefit Plan [Member]

Common Shares issued for Consulting service during the quarter ended December 31, 2021, shares | shares

2,352,196,586

Tecco Group [Member]

Contributed amount

$ 2,000,000

$ 156,366

Ownership interest of general partners

49.00%

Phat Van Hung Co. Ltd [Member]

Contributed amount

$ 2,000,000

Ownership interest of general partners

49.00%

Xuan QuynhLLC [Member]

Contributed amount

$ 2,000,000

Ownership interest of general partners

49.00%

Common Stock [Member]

Value of common stock purchase

$ 166,443

Number of shares issued | shares

166,443,119

Common Shares issued for Consulting service during the quarter ended December 31, 2021, shares | shares

1,533,000,000

767,000,000

Firstfire Global Opportunities Fund LLC [Member] | Convertible Notes Payable [Member]

Debt amount

$ 275,000

Interest rate

12.00%

Conversion price | $ / shares

$ 0.0061

Mast Hill Fund, L.P [Member] | Convertible Notes Payable [Member]

Debt conversion description

This note will mature twelve months from the Issue Date and may be convertible into shares of common stock of the Company at a fixed conversion price of $0.0061 per share. The Company received the proceeds from this Note on October 5, 2021and plans to prepay this note in cash prior to the 180th calendar day after the Issue Date.

Sixth Street Lending Group Ltd [Member] | Convertible Notes Payable [Member]

Debt amount

$ 43,750

Interest rate

8.00%

Debt conversion description

This note will mature twelve months from the Issue Date and may be convertible into shares of common stock of the Company at a 39% discount to the average of the two lowest closing bid prices during the ten trading days immediately prior to the conversion date or may be prepaid on or prior to the 180th calendar day after the Issue Date at a Prepayment Factor of 125% to 139% depending on the passage of time from the date of issuance to the date of payment. The Company plans to prepay this note in cash prior to the 180th calendar day after the Issue Date.

Mast Hill Fund LLC [Member] | Convertible Notes Payable [Member]

Debt amount

$ 320,000

Interest rate

12.00%

Debt conversion description

This note will mature twelve months from the Issue Date and may be convertible into shares of common stock of the Company at a fixed conversion price of $0.0061 per share or may be prepaid at any time prior to the date that an Event of Default occurs under this Note in a cash amount equal to the sum of (i) 100% multiplied by the principal amount then outstanding plus (ii) accrued and unpaid interest on the principal amount to the prepayment date, plus (iii) $750.00 reimbursement for administrative fees. The Company plans to prepay this note in cash prior to the 180th calendar day after the Issue Date.

Conversion price | $ / shares

$ 0.0061

Administrative Fees Expense

$ 750

PHILUX Global Funds [Member] | March 2018 [Member] | Quang Nam Provincial Government [Member]

Area of Land | ha

200

200

PHILUX Global Funds [Member] | December 2020 [Member] | Vietnamese Central Government [Member]

Area of Land | ha

1,200

1,200

Five-Grain Treasure Spirits Co., Ltd [Member]

Acquire ownership percent

70.00%

Additional required capital

$ 100,000,000

Five-Grain Treasure Spirits Co., Ltd [Member] | Subsequent Event [Member]

Acquire ownership percent

70.00%

Johnny Park [Member]

Common Shares issued for Consulting service during the quarter ended December 31, 2021, shares | shares

1,150,000,000

Whankuk Je [Member] | 2021 Employee Benefit Plan [Member]

Common Shares issued for Consulting service during the quarter ended December 31, 2021, shares | shares

1,150,000,000

Geza Holding AG [Member]

Debt amount

$ 1,500,000

Interest rate

3.50%

Debt term

15 years

Debt grace period

1 year

American Pacific Resources, Inc [Member]

Acquire ownership percent

100.00%

100.00%

Special stock dividend | shares

2,000

Regulatory Restrictions on Payment of Dividends

Payment Date: the Payment Date for the distribution of the special stock dividend to be ten (10) business days after a registration statement for said special stock dividend shares is declared effective by the Securities and Exchange Commission

American Pacific Resources, Inc [Member] | Subsequent Event [Member]

Special stock dividend | shares

2,000

Regulatory Restrictions on Payment of Dividends

Payment Date: the Payment Date for the distribution of the special stock dividend to be ten (10) business days after a registration statement for said special stock dividend shares is declared effective by the Securities and Exchange Commission.

Business Cooperation Agreement [Member] | Vinafilms JSC [Member]

Acquire ownership percent

51.00%

Stock Swap Agreement [Member] | Vinafilms JSC [Member]

Acquire ownership percent

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

Investment Agreement and Registration Rights Agreement [Member]

Number of shares issued | shares

7,936,600

Investment Agreement and Registration Rights Agreement [Member] | Investor [Member]

Value of common stock purchase

$ 10,000,000

Number of shares issued | shares

65,445,000

20,000,000

Agreement of Purchase and Sale [Member] | Five-Grain Treasure Spirits Co., Ltd [Member] | Subsequent Event [Member]

Acquire ownership percent

70.00%

Additional required capital

$ 1,000,000,000

Contract Agreement [Member] | Haj Finance Group [Member]

Debt amount

$ 1,500,000,000

Interest rate

2.50%

Debt term

35 years

Debt grace period

3 years

Loan Agreement [Member] | Neok Financial Incorporated [Member]

Debt amount

$ 2,000,000,000

Interest rate

2.00%

Debt term

35 years

Consulting Agreement [Member] | CAT TUONG [Member]

Cash

$ 1,000,000

GOING CONCERN UNCERTAINTY (Deta

GOING CONCERN UNCERTAINTY (Details Narrative) - USD ($)	3 Months Ended			6 Months Ended
	Dec. 31, 2021	Sep. 30, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accumulated deficit	$ 67,115,338			$ 67,115,338		$ 50,563,530
Stockholders' deficit	1,463,100	$ 2,514,670		1,463,100		$ 5,997,389
Net loss	$ 10,591,638	$ 5,960,170	$ 212,867	$ 16,551,808	$ 549,131

SUBSEQUENT EVENT (Details Narra

SUBSEQUENT EVENT (Details Narrative) - USD ($)

Sep. 18, 2022

Jun. 18, 2022

Mar. 18, 2022

Feb. 09, 2022

Jan. 17, 2022

Feb. 21, 2022

Dec. 31, 2021

Dec. 31, 2021

Dec. 31, 2020

Jan. 26, 2022

Jan. 18, 2022

Jan. 03, 2022

Sep. 16, 2021

Subsequent Event [Line Items]

Payments to acquire investments

$ 365,555

$ 81,765

Stock issued during period, value

$ 219,654

Five-Grain Treasure Spirits Co., Ltd [Member]

Subsequent Event [Line Items]

Equity Method Investment, Ownership Percentage

70.00%

Business acquisition transaction costs

$ 100,000,000

Subsequent Event [Member]

Subsequent Event [Line Items]

Price per shares

$ 0.001

Subsequent Event [Member] | Maximum [Member]

Subsequent Event [Line Items]

Stock issued during period, shares

3,750,000,000

Stock issued during period, value

$ 75,000,000

Subsequent Event [Member] | Purchase and Sales Agreement [Member]

Subsequent Event [Line Items]

Business acquisition transaction costs

$ 64,125,000

Subsequent Event [Member] | Kota Energy Group LLC [Member]

Subsequent Event [Line Items]

Equity Method Investment, Ownership Percentage

50.10%

Subsequent Event [Member] | Kota Energy Group LLC [Member] | Purchase and Sales Agreement [Member]

Subsequent Event [Line Items]

Equity Method Investment, Ownership Percentage

50.10%

Business acquisition transaction costs

$ 12,524,469

Subsequent Event [Member] | Kota Construction LLC [Member]

Subsequent Event [Line Items]

Equity Method Investment, Ownership Percentage

50.10%

Subsequent Event [Member] | Kota Construction LLC [Member] | Purchase and Sales Agreement [Member]

Subsequent Event [Line Items]

Equity Method Investment, Ownership Percentage

50.10%

Business acquisition transaction costs

$ 51,600,531

Subsequent Event [Member] | Al Aqel and Partners Investment LLC [Member] | Loan Agreement [Member]

Subsequent Event [Line Items]

Debt instrument face value

$ 1,000,000,000

Debt instrument, term

10 years

Debt instrument, interest rate, percentage

3.00%

Grace period term

2 years

Debt instrument, collateral

The closing of this transaction is subject to having met certain administrative, legal and financial requirements, including a collateral for the loan to be secured by a surety bond of 1% of the total loan amount to deducted from the proceeds of the loan.

Subsequent Event [Member] | Arab League Investment Group [Member] | Loan Agreement [Member]

Subsequent Event [Line Items]

Debt instrument face value

$ 200,000,000

Debt instrument, term

15 years

Debt instrument, interest rate, percentage

2.50%

Grace period term

2 years

Subsequent Event [Member] | Five-Grain Treasure Spirits Co., Ltd [Member]

Subsequent Event [Line Items]

Equity Method Investment, Ownership Percentage

70.00%

Subsequent Event [Member] | Five-Grain Treasure Spirits Co., Ltd [Member] | Purchase and Sales Agreement [Member]

Subsequent Event [Line Items]

Payments to acquire investments

$ 32,666,666

$ 32,666,666

$ 32,666,666

Subsequent Event [Member] | Convertible Common Stock [Member] | Power Up Lending Group [Member]

Subsequent Event [Line Items]

Number of conversion of convertible shares

119,466,842