Philux Global (PHIL) 10-Q 19 Nov 24 2025 Q1 Quarterly report Financial data

Cover

Cover - $ / shares	3 Months Ended
	Sep. 30, 2024	Nov. 19, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2024
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2025
Current Fiscal Year End Date	--06-30
Entity File Number	001-38255-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	17011 Beach Blvd
Entity Address, Address Line Two	Suite 900
Entity Address, City or Town	Huntington Beach
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92614
City Area Code	714
Local Phone Number	642-0571
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		46,873,940,565
Entity Listing, Par Value Per Share	$ 0.001

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($)	Sep. 30, 2024	Jun. 30, 2024
Current Assets
Cash and cash equivalents	$ 13	$ 303
Other current assets	33,333	58,333
Total current assets	33,346	58,636
Other assets:
Investments	33,588	32,220
Total Assets	66,934	90,856
Current Liabilities
Accounts payable	629,490	626,730
Sub-fund obligations	1,624,775	1,624,775
Accrued expenses	1,889,633	1,795,874
Short-term loans and notes payable	5,278,398	4,460,981
Convertible Promissory Notes	5,000	5,000
Due to Officers	298,761	278,812
Advances from customers	952,650	952,650
Total Liabilities	10,678,707	9,744,823
Stockholders’ deficit:
Total Preferred Stock	2,440	2,440
Common stock, value	46,873,941	46,873,941
APIC - Common Stock	29,109,985	29,109,985
Common Stock to be issued	2,007,790	1,890,290
Common Stock to be cancelled	(35,500)	(35,500)
Treasury stock: 484,767 shares as of 9/30/24 and 6/30/24, respectively - cost method.	(44,170)	(44,170)
Accumulated deficit	(86,591,425)	(85,514,751)
Total Acc. Other Comprehensive Income (Loss)	(1,934,833)	(1,936,201)
Total stockholders’ deficit	(10,611,773)	(9,653,967)
Total liabilities and stockholders’ deficit	66,934	90,856
Class B Series I Preferred Stock [Member]
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 9/30/2024 and 6/30/2024 respectively. Par value:	600	600
APIC - Class B Series I	$ 1,840	$ 1,840

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	3 Months Ended	12 Months Ended
	Sep. 30, 2024	Jun. 30, 2024
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	500,000,000	500,000,000
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	60,000,000,000	60,000,000,000
Common stock, shares issued	46,873,940,565	46,873,940,565
Common stock, shares outstanding	46,873,940,565	46,873,940,565
Reverse stock split	1 for 1,500 reverse split	1 for 1,500 reverse split
Treasury stock, shares	484,767	484,767
Class B Series I Preferred Stock [Member]
Preferred stock, shares issued	600,000	600,000
Preferred stock, shares outstanding	600,000	600,000

Consolidated Statement of Opera

Consolidated Statement of Operations (Unaudited) - USD ($)	3 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Net revenues
Consulting, advisory and management services
Total revenues
Operating expenses:
Salaries and wages	52,500	52,500
Professional services, including non-cash compensation	83,100	151,854
General and administrative	35,650	41,377
Total operating expenses	171,250	245,731
Income (loss) from operations	(171,250)	(245,731)
Other income and expenses
Other income		18
Interest expense	(41,735)	(43,677)
Other expenses	(863,689)	(2,700,514)
Net other income (expenses)	(905,424)	(2,744,173)
Net income (loss)	$ (1,076,674)	$ (2,989,904)
Net loss per share:
Basic	$ 0	$ 0
Diluted	$ 0	$ 0
Weighted average number of shares outstanding:
Basic	44,555,774,381	41,055,882,399
Diluted	44,555,774,381	41,055,882,399

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities:
Net income (loss) from operations	$ (1,076,674)	$ (2,989,904)
Net change due to non-cash issuances of stock		1,804,273
(Increase) decrease in assets and prepaid expenses
Total (increase) decrease in assets and prepaid expenses	25,000
Increase (decrease) in accounts payable and accrued expenses
Accounts payable	2,760	(170)
Accrued expenses	93,759	563,331
Total increase (decrease) in accounts payable and accrued expenses	96,519	563,161
Net cash provided by (used in) operating activities	(955,155)	(622,470)
Cash flows from investing activities:
Net cash provided by (used in) investing activities
Cash flows from financing activities:
Loans from Directors/Officers	11,449	(25,291)
Loans and Notes payable	825,916	(105,288)
Common Stock to be issued	117,500	737,062
Net cash provided by (used in) financing activities	954,865	606,483
Net decrease in cash and cash equivalents	(290)	(15,987)
Cash and cash equivalents, beginning of period	303	19,764
Cash and cash equivalents, end of period	$ 13	$ 3,778

Statement of Stockholders' Equi

Statement of Stockholders' Equity (Deficit) (Unaudited) - USD ($)	Common Stock [Member]	Common Stock Including Additional Paid in Capital [Member]	Preferred Stock [Member]	Preferred Stock Including Additional Paid in Capital [Member]	Treasury Stock Common and Preferred [Member]	Common Stock to be Cancelled [Member]	Common Stock to be Issued [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	Total
Balance at Jun. 30, 2023	$ 39,414,493	$ 32,773,102	$ 600	$ 1,840	$ (44,170)	$ (35,000)	$ 22,500	$ 3,035,495	$ 77,319,372	$ 8,222,002
Balance, shares at Jun. 30, 2023	39,414,493,275		600,000		(484,767)
Common shares issued for conversion of notes by Brin Financial Corporation during 9/30/23 quarter	$ 171,562	(68,625)								102,937
Common shares issued for conversion of notes by Brin Financial Corporation during 9/30/23 quarter, shares	171,561,860
Common Shares issued for exercise of warrants by Mast Hill Fund LP during 9/30/23 quarter	$ 2,931,619	(1,175,299)								1,756,320
Common Shares issued for exercise of warrants by Mast Hill Fund LP during 9/30/23 quarter, shares	2,931,619,052
Common shares issued for conversion of note by 1800 Diagonal Lending LLC	$ 187,541	(112,525)								75,016
Common shares issued for conversion of note by 1800 Diagonal Lending LLC during 9/30/23 quarter, shares	187,540,984
Balance at Sep. 30, 2023	$ 42,705,215	31,416,653	$ 600	1,840	$ (44,170)	(35,000)	759,562	3,035,916	80,309,276	8,540,992
Balance, shares at Sep. 30, 2023	42,705,215,171		600,000		(484,767)
Common Stock issued for stock purchase agreements with current shareholders under Rule 144	$ 468,408	(172,404)								296,004
Common Stock issued for stock purchase agreements with current shareholders under Rule 144, shares	468,407,608
Common Stock issued for conversion of promissory note	$ 119,000	(59,500)								59,500
Common Stock issued for conversion of promissory note, shares	119,000,000
Balance at Dec. 31, 2023	$ 43,292,623	31,184,749	$ 600	1,840	$ (44,170)	(35,000)	1,128,388	(2,053,646)	(82,021,213)	(8,546,330)
Balance, shares at Dec. 31, 2023	43,292,622,779		600,000		(484,767)
Common Stock issued for stock purchase agreements with current shareholders under Rule 144	$ 1,583,494	(876,068)								707,426
Common Stock issued for stock purchase agreements with current shareholders under Rule 144, shares	1,583,493,940
Common shares issued for conversion of note by Mast Hill Fund LP during March 2024 quarter	$ 1,024,372	(614,623)								409,749
Common shares issued for conversion of note by Mast Hill Fubd LP during March 2024 quarter, shares	1,024,372,467
Common Shares issued for consulting service	$ 250,000	(150,000)								100,000
Common Shares issued for consulting service, shares	250,000,000
Balance at Mar. 31, 2024	$ 46,150,489	29,544,058	$ 600	1,840	$ (44,170)	(35,000)	1,106,790	(1,949,117)	(83,711,642)	(8,936,654)
Balance, shares at Mar. 31, 2024	46,150,489,186		600,000		(484,767)
Common shares issued for conversion of note by 1800 Diagonal Lending LLC	$ 723,452	(434,072)								289,380
Common shares issued for conversion of note by 1800 Diagonal Lending LLC during 9/30/23 quarter, shares	723,451,379
Balance at Jun. 30, 2024	$ 46,873,941	29,109,985	$ 600	1,840	$ (44,170)	(35,000)	1,890,290	(1,936,201)	(85,514,751)	(9,653,967)
Balance, shares at Jun. 30, 2024	46,873,940,565		600,000		(484,767)
Common shares issued for conversion of note by 1800 Diagonal Lending LLC
Balance at Sep. 30, 2024	$ 46,873,941	$ 29,109,985	$ 600	$ 1,840	$ (44,170)	$ (35,000)	$ 2,007,790	$ (1,934,833)	$ (86,591,825)	$ (10,611,773)
Balance, shares at Sep. 30, 2024	46,873,940,565		600,000		(484,767)

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($)	3 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure [Table]
Net Income (Loss)	$ (1,076,674)	$ (2,989,904)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 30, 2024
Insider Trading Arrangements [Line Items]
No insider trading flag	true

NATURE OF BUSINESS

NATURE OF BUSINESS	3 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
NATURE OF BUSINESS	NOTE 1 NATURE OF BUSINESS INTRODUCTION PHI Group, Inc. (n/k/a Philux Global Group Inc) (the “Company” or “PHI”) ( www.philuxglobal.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 various transactions in connection with 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 promoting Philux Global Funds, SCA, SICAV-RAIF by launching Philux Global Select Growth Fund and potentially other sub-funds for investment in real estate, renewable energy, infrastructure, agriculture, healthcare and the International Financial Center and 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. The Company has also formed Philux Global Advisors, Inc. to serve as the investment advisor to Philux Global Funds and other potential fund clients in the future. In May 2023, the company signed a business cooperation agreement with SSE Global JSC, a Vietnamese joint stock company, to establish SSE Global Group, Inc., a Wyoming corporation, ( www.sseglobalgroup.com In June 2023 the Company signed a business cooperation agreement with Saphia Alkali JSC, a Vietnamese joint stock company, to form Sapphire Alkali Global Group in the United States to finance, manufacture, sell and distribute Saphia Alkali’s proprietary products on a worldwide basis. In December 2023 the Company signed an Agreement for Comprehensive Cooperation Agreement with a Vietnamese inventor (the “Inventor”) to cooperate in the development and implementation of a proprietary clean energy technology using geomagnetic energy and focus on the following areas: (1) Applying the Inventor’s proprietary inventions that are specifically designed to exploit the earth’s available geomagnetic energy to generate energy and store energy without using an energy storage system (ESS), (2) Producing and providing generators using the earth’s available geomagnetic energy, (3) Producing engines (spaceships, airplanes, ships, cars, trains, motorcycles, etc.) powered by the earth’s available geomagnetic energy, and (4) Developing additional multiple new technologies that the Inventor has studied and researched. The Parties agree to use Philux Global Energy, Inc., a Wyoming corporation and wholly-owned subsidiary of Philux Global Group, Inc., Registration Number 2022-001066221, incorporated on January 3, 2022, website: www.philuxge.com The Company intends to integrate these clean energy technologies in the new subsidiary to be established in United Arab Emirates which will replace its former subsidiary CO2-1-0 (CARBON) Corp. to continue engaging in carbon emission mitigation using blockchain and crypto technologies. No assurances can be made that the Company will be successful in achieving its plans. 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	3 Months Ended
	Sep. 30, 2024
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. (a/k/a Philux Global Group, Inc.) and its active wholly owned subsidiaries: (1) Philux Capital Advisors, Inc., a Wyoming corporation ( 100% 100% 100% 100% 100% 100% 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 financial statements for the year ended June 30, 2024. 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 months ended September 30, 2024 are not necessarily indicative of the results to be expected for the fiscal year ending June 30, 2025. 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. ACCOUNTS RECEIVABLE Management reviews the composition of accounts receivable and analyzes historical bad debts. As of September 30, 2024, 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. Expenditures for maintenance and repairs are charged to expense as incurred. 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 was permitted for fiscal years beginning after December 15, 2020. 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.

PROPERTIES AND EQUIPMENT

PROPERTIES AND EQUIPMENT	3 Months Ended
	Sep. 30, 2024
Property, Plant and Equipment [Abstract]
PROPERTIES AND EQUIPMENT	NOTE 3 PROPERTIES AND EQUIPMENT The Company did not have any properties or equipment as of September 30, 2024.

OTHER ASSETS

OTHER ASSETS	3 Months Ended
	Sep. 30, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
OTHER ASSETS	NOTE 4 OTHER ASSETS Other Assets as of September 30, 2024 and June 30, 2024 comprise of: SCHEDULE OF OTHER ASSETS September 30, 24 June 30, 2024 Investment in PHILUX Global Funds, SCA, SICAV-RAIF $ 33,588 $ 32,220 Total Other Assets $ 33,588 $ 32,220 For the investments in PHILUX Global Funds, as of September 30, 2023, 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 33,588 The Company has treated all development costs of the Asia Diamond Exchange as expenses which will be capitalized as common shares in Asia Diamond Exchange, Inc., a Wyoming corporation.

CURRENT LIABILITIES

CURRENT LIABILITIES	3 Months Ended
	Sep. 30, 2024
Disclosure Current Liabilities Abstract
CURRENT LIABILITIES	NOTE 5 CURRENT LIABILITIES Current Liabilities of the Company consist of the followings as of September 30, 2024 and June 30, 2024. SCHEDULE OF CURRENT LIABILITIES Current Liabilities September 30,2024 June 30, 2024 Accounts payable 629,490 626,730 Sub-fund obligations 1,624,775 1,624,775 Accrued expenses 1,889,633 1,795,874 Short-term loans and notes payable 5,278,398 4,460,981 Convertible Promissory Notes 5,000 5,000 Due to Officers 298,761 278,812 Advances from customers 952,650 952,650 Total $ 10,678,707 $ 9,744,823 ACCRUED EXPENSES: Accrued expenses as of September 30, 2024 totaling $ 1,889,633 1,290,595 585,570 3,410 59 NOTES PAYABLE: As of September 30, 2024, Notes Payable consist of $ 5,278,398 3,357,966 43,750 105,482 CONVERTIBLE NOTES: As of September 30, 2024, there was a balance of convertible note in the amount of $ 5,000 ADVANCES FROM CUSTOMERS AND DEPOSITS FROM CLIENTS: As of September 30, 2024, the Company recorded $ 952,650 819,038 133,612 SUB-FUND OBILGATIONS: The Company has recorded a total of $ 1,624,775

DUE TO OFFICERS

DUE TO OFFICERS	3 Months Ended
	Sep. 30, 2024
Due To Officers
DUE TO OFFICERS	NOTE 6 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 September 30, 2024 and June 30, 2024, the balances were $ 298,761 278,812 SCHEDULE OF COMPONENTS OF DUE TO OFFICERS AND DIRECTORS Officers/Directors Sep 30, 2024 Jun 30, 2024 Henry Fahman 290,261 $ 278,812 Steve Truong 8,500 $ - Total $ 298,761 $ 278,812

LOANS AND PROMISSORY NOTES

LOANS AND PROMISSORY NOTES	3 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
LOANS AND PROMISSORY NOTES	NOTE 7 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 September 30, 2024, Short-term Notes and Loans Payable consist of $ 5,278,398 3,357,966 43,750 105,482 B. CONVERTIBLE PROMISSORY NOTES OUTSTANDING AS OF SEPTEMBER 30, 2024 As of September 30, 2024, the Company had a net balance of $ 5,000

BASIC AND DILUTED NET PROFIT (L

BASIC AND DILUTED NET PROFIT (LOSS) PER SHARE	3 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
BASIC AND DILUTED NET PROFIT (LOSS) PER SHARE	NOTE 8 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 September 30, 2024 were the same since the inclusion of Common stock equivalents is anti-dilutive.

STOCKHOLDER_S EQUITY

STOCKHOLDER’S EQUITY	3 Months Ended
	Sep. 30, 2024
Equity [Abstract]
STOCKHOLDER’S EQUITY	NOTE 9 STOCKHOLDER’S EQUITY As of September 30, 2023, the total number of authorized capital stock of the Company consisted of 60 0.001 500,000,000 0.001 TREASURY STOCK The balance of treasury stock as of September 30, 2024 was 484,767 44,170 COMMON STOCK During the quarter ended September 30, 2024, the Company did not issue any Common Stock. As of September 30, 2024, there were 46,873,940,565 PREFERRED STOCK CLASS B SERIES I PREFERRED STOCK As of September 30, 2024, there were 600,000

STOCK-BASED COMPENSATION PLAN

STOCK-BASED COMPENSATION PLAN	3 Months Ended
	Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION PLAN	NOTE 10 STOCK-BASED COMPENSATION PLAN On September 9, 2021, the Company adopted the PHI Group 2021 Employee Benefit Plan and set aside 2,600,000,000 2,407,196,586

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	3 Months Ended
	Sep. 30, 2024
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 11 RELATED PARTY TRANSACTIONS The Company recognized a total of $ 52,500 Henry Fahman, Chairman and Chief Executive Officer, and Steve Truong, Director of the Company from time to time lend money to the Company. These loans are without interest and payable upon demand. As of September 30, 2024, the Company still owed the following amounts to Related Parties: SCHEDULE OF RELATED PARTIES No. Name: Title: Amount: Description: 1) Henry Fahman Chairman/CEO $ 446,796 Accrued salaries $ 290,261 Loans 2) Tina Phan Secretary/Treasurer $ 383,799 Accrued salaries 3) Steve Truong Director $ 8,500 Loan

CONTRACTS AND COMMITMENTS

CONTRACTS AND COMMITMENTS	3 Months Ended
	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
CONTRACTS AND COMMITMENTS	NOTE 12 CONTRACTS AND COMMITMENTS 1. EQUITY LINE OF CREDIT WITH INSTITUTIONAL INVESTOR On March 01, 2022, the Company entered into an equity purchase agreement with Mast Hill Fund LP (“The Investor”) as follows: The Investor has agreed to provide an equity line of up to $ 10,000,000 10,000,000 The pricing period of each put will be the 7 trading days immediately following receipt of the Put Shares (the “Pricing Period”). The purchase price per share shall mean 90% of the average of the 2 lowest volume-weighted average prices of the Common Stock during the Pricing Period, less clearing fees, brokerage fees, other legal, and transfer agent fees incurred in the deposit (the “Net Purchase Amount”). The Investor shall pay the Net Purchase Amount to the Company by wire for each Drawdown Notice within 2 business days of the end of the Pricing Period. The put amount in each Drawdown Notice shall not be less than $50,000 and shall not exceed the lesser of (i) $500,000 or (ii) 200% of the average dollar trading volume of the Common Stock during the 7 trading days immediately before the Put Date, subject to Beneficial Ownership cap There shall be a 7 trading day period between the receipt of the Put Shares and the next put. The Company intends to file an S-1 Registration Statement with the Securities and Exchange Commission for this Equity Line of Credit as part of its alternative financing plan. 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% 156,366.25 3. INVESTMENT AND FINANCING AGREEMENTS As of September 30, 2024, the Company and its subsidiaries have eight active agreements for loan financing, asset management, partnership, joint venture, and memorandum of understanding with international investor groups for up to 6.5 4. DEVELOPMENT OF THE ASIA DIAMOND EXCHANGE AND INTERNATIONAL FINANCIAL CENTER IN VIETNAM Along with the establishment of Philux Global Funds, the Company has worked with the Authority of Chu Lai Open Economic Zone in Central Vietnam and the Provinces of Quang Nam and Dong Nai, Vietnam in the past to develop the Asia Diamond Exchange for lab-grown, rough and polished diamond together with a multi-commodities logistics center. Mr. Ben Smet, who successfully established the Dubai Diamond Exchange in 2002-2005, has been leading fulltime a group of experts for the setup of the Asian Diamond Exchange since January 2018. He has brought together main trading players in the rough diamond industry to come to Vietnam. He has also established a partnership with the biggest player in the rough trading and polishing business and engaged other main international diamond trading groups to join the overall venture. The Company has taken the decision to move the greater part of the ADE rough and polishing venture, first to an Industrial Zone to be established close to the new international Airport in Long Thanh District, Dong Nai Province, Vietnam and is currently aiming for the Thanh Da Peninsula in conjunction with the contemplated International Financial Center. This location change has caused that the entire KPC Process and administration had to be adapted and redone with renewed financial input, mostly carried by Mr. Smet. Once the Company has effectuated all budgeting and all financial requirements and obligations, the ongoing process will effectively materialize and Mr. Smet then shall transfer the entire venture to Philux Global Group, Inc. 5 . Investment Commitment AgreementS WITH Saigon Silicon City JSC On February 21, 2023, Philux Global Group Inc. (a/k/a PHI Group, Inc.) and its subsidiaries Philux Global Funds SCA, SICAV-RAIF and Philux Global Vietnam Investment and Development Company, Ltd., (collectively referred to as “the Investor”) signed an Investment Commitment Agreement with Saigon Silicon City Joint Stock Company (“SSC”) whereby the Investor is committed to providing or causing to be provided a total of five hundred million U.S. dollars (USD 500,000,000 According to the Investment Commitment Agreement, within thirty days of the signing of this Agreement, the Investor will provide or cause to be provided fifty million U.S. dollars (USD 50,000,000 50,000,000 500,000 Effective March 21, 2023, Philux Global Group and Saigon Silicon City JSC signed an amendment to amend Article 2 of the afore-mentioned Investment Commitment Agreement as follows: “Due to additional administrative and legal requirements in connection with the Investor’s release of funds, within thirty days of the signing of this Amendment, the Investor will provide or cause to be provided fifty million U.S. dollars (USD 50,000,000 On April 21, 2023, both parties signed an amendment to extend the delivery of the first investment tranche to Saigon Silicon City JSC within forty-five days commencing April 21, 2023. On June 05, 2023, Philux Global Vietnam Investment and Development Co. Ltd., a subsidiary of Philux Global Group Inc. (f/k/a PHI Group, Inc.), and Saigon Silicon City JSC (“SSC”) signed an Agreement to terminate the Investment Commitment Agreement previously entered into by the two parties on February 21, 2023 in its entirety. On June 05, 2023 Philux Global Group Inc. (a/k/a PHI Group, Inc.) (the “Investor”/”Provider”) signed an Investment Commitment Agreement with SSC whereby the Investor/Provider is committed to arranging up to one and half billion U.S. dollars (USD 1,500,000,000 According to the Investment Commitment Agreement, upon the signing of this Agreement, the SSC shall make a deposit of Five Hundred Thousand U.S. Dollars (USD 500,000 Within thirty days after the deposit of at least two hundred thousand U.S. dollars (USD 200,000 50,000,000 6. BUSINESS COOPERATION AGREEMENT WITH SSE GLOBAL JSC In May 2023, the Company signed a Business Cooperation Agreement with SSE Group JSC, a Vietnamese joint stock company, to jointly cooperate in the areas of energy efficiency and mitigation of global greenhouse gas (GHG) emissions by using SSE Group’s proprietary technologies. According to the agreement, SSE Group JSC and Philux Global Group Inc. have incorporated “SSE Global Group Inc.,” a Wyoming corporation, Registration ID 2023-00127, ( www.sseglobalgroup.com 7. BUSINESS COOPERATION AGREEMENT WITH SAPHIA ALKALI JOINT STOCK COMPANY On June 27, 2023, SAPHIA ALKALI JOINT STOCK COMPANY, a Vietnamese joint stock company with principal business address at No 27, Sub-alley 1, Alley 104, Viet Hung Street, Viet Hung Ward, Long Bien District, Hanoi City, Vietnam, represented by Mrs. Nguyen Phuong Dung, its Chairperson, hereinafter referred to as “SAP,” and PHI GROUP INC. (/n/k/a PHILUX GLOBAL GROUP INC, hereinafter referred to as “PGG,” signed a Business Cooperation Agreement and agreed to undertake the followings: - SAP and PGG agree to jointly cooperate primarily in the areas of alkali technologies as well as any other business that may be considered mutually beneficial. - - SAP will initially make available and transfer certain technologies as may be needed to NewCo to serve the needs of this Business Cooperation Agreement. - The relationship established between SAP and PGG by this Agreement shall be exclusive with respect to the areas of SAP’s proprietary technologies outside of Vietnam. - - The parties herein shall determine the capital structure of NewCo in a separate subsequent addendum to this Business Cooperation Agreement. 8. Agreement for Comprehensive Cooperation WITH a Vietnamese RENEWABLE ENERGY Inventor On December 8, 2023, a Vietnamese engineer (the “Inventor”), and the Company entered into an Agreement for Comprehensive Cooperation Agreement and agreed to undertake the followings: a) Applying the Inventor’s proprietary inventions that are specifically designed to exploit the earth’s available geomagnetic energy to generate energy and store energy without using an energy storage system (ESS). b) Producing and providing generators using the earth’s available geomagnetic energy. c) Producing engines (spaceships, airplanes, ships, cars, trains, motorcycles, etc.) powered by the earth’s available geomagnetic energy. d) Developing additional multiple new technologies. The Parties agree to use Philux Global Energy, Inc., a Wyoming corporation and wholly-owned subsidiary of Philux Global Group, Inc., Registration Number 2022-001066221, incorporated on January 3, 2022, as the operating company to commercialize energy-related products based on the proprietary researches and developments of the Inventor. The Inventor and his associates have filed a Provisional Patent Application with the U.S. Patent and Trademark Office (USPTO) and will assign and transfer certain intellectual properties related to energy generation and energy storage using the earth’s available geomagnetic energy to Philux Global Energy, Inc. for commercialization. Both the Registrant and the Inventor mutually warrant that the intellectual properties and technologies that have been developed and/or will have been developed by the Inventor shall never be used for warfare purposes under any circumstances. 9. Business Development and Structuring Consultancy Agreement for the design and setup of the International Financial Center in Vietnam On July 5, 2024, Dr. D’Orleans de France Benedict Carl William (a/k/a Ben C. Smet), an individual (the “Consultant”), with principal residence address in Schindellegi-Feusisberg, Switzerland signed a Business Development and Structuring Consultancy Agreement with the Company regarding the design and implementation of the International Financial Center in Vietnam. WHEREAS, Dr. D’Orleans de France has been leading full-time a group of experts since January 2018 for the setup of the Asian Diamond Exchange (“ADE”) in Vietnam for the Company and has entered into a separate Business Development and Structuring Consultancy Agreement with the Company for this Asian Diamond Exchange project. WHEREAS, recently he has started a structuring project, in order for the Company to set up and establish an International Financial Center on the Thanh Da Peninsula, Ho Chi Minh City, Vietnam in conjunction with the afore-mentioned Asian Diamond Exchange project. This will be similar as what he has established successfully for Dubai in 2002-2005 and is now incorporating the international changes of the last two decades together with combined information and data from another leading international financial center in Europe. Dr. D’Orleans de France and Company have agreed that the Consultant will continue to provide the business development and structuring consulting services mentioned in the foregoing Recitals and any other services that may be required to assist the Company to successfully plan, design, develop, establish, and operate the International Financial Center in Vietnam. The Consultant will continue to advise, assign, undertake, execute and implement, as the case may be, all the next necessary steps to be taken to make the International Financial Center in Vietnam a success, which involves a comprehensive set of key requirements spanning legal, regulatory, infrastructural, and strategic aspects as outlined in the Agreement. The term of the engagement shall be for a period of two (2) years (“Engagement Period”) commencing the date of the signing of this Agreement. However, it is both Parties’ intention and commitment to complete this undertaking within six (6) months of the effective date and after the Free Economic Zone on Thanh Da Island, Ho Chi Minh City, subject to satisfaction of mutual and financial obligations by both Parties. Once the Company has effectuated all budgeting and all financial requirements and obligations, the ongoing process will effectively materialize, and the Consultant then shall transfer the entire IFC venture to the Company. Both parties agree that the Company shall pay the Consultant a total of Fifteen Million U.S. Dollars (USD 15,000,000) for the services that have been rendered and those to be rendered as set forth above in order to complete the structuring, design and implementation of the IFC project. The schedule of compensation payments shall be mutually agreed upon by both parties by private agreement. 10. COMMON STOCK TO BE ISSUED As of September 30, 2024, the Company recorded $ 2,007,790

GOING CONCERN UNCERTAINTY

GOING CONCERN UNCERTAINTY	3 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
GOING CONCERN UNCERTAINTY	NOTE 13 GOING CONCERN UNCERTAINTY As shown in the accompanying consolidated financial statements, the Company has accumulated deficit of $ 86,591,425 10,611,773 1,076,674 2,989,904

SUBSEQUENT EVENT

SUBSEQUENT EVENT	3 Months Ended
	Sep. 30, 2024
Subsequent Events [Abstract]
SUBSEQUENT EVENT	NOTE 14 SUBSEQUENT EVENT The financial statements included in this Form 10-Q were approved by management and available for issuance on or about November 19, 2024. Subsequent events have been evaluated through this date. Combined Addendum No. 1 to the Business Development and Structuring Consultancy Agreement dated June 27, 2024 and the Business Development and Structuring Consultancy Agreement for the Development and Establishment of an International Financial Center in Vietnam dated July 5, 2024 On November 07, 2024, Dr. D’ORLEANS DE FRANCE BENEDICT CARL WILLIAM (f/k/a BEN CARL SMET), an individual, with principal residence address in Schindellegi-Feusisberg, Switzerland (hereinafter referred as the “Consultant” and PHI GROUP INC. (/n/k/a PHILUX GLOBAL GROUP INC.), a corporation duly organized under the laws of the state of Nevada, and re-domiciled under the laws of the State of Wyoming U.S.A., with registered principal business address at N 30 Gould Street, Suite R, Sheridan, WY 82801, represented by Mr. Henry D. Fahman, its Chairman and Chief Executive Officer, hereinafter referred to as “PGG or “the Registrant,” signed the Combined Addendum No. 1 (the “Addendum”) to the Business Development and Structuring Consultancy Agreement dated June 27, 2024 and the Business Development and Structuring Consultancy Agreement for the Development and Establishment of an International Financial Center in Vietnam dated July 5, 2024 and agreed to undertake the followings: In consideration for the Consultant’s continued commitment to assist the Company and provide the necessary services as defined in the above mentioned (1) Business Development and Structuring Consultancy Agreement for establishing of a compartmentalized regulated/unregulated Luxembourg Bank Fund (RAIF) and establishing of the Asian Diamond Exchange for rough and polished diamond trade and the reconsolidating of the lab-grown diamond industry in Vietnam and (2) the Business Development and Structuring Consultancy Agreement for the development and Establishment of an International Financial Center also in Vietnam, until these projects are successfully completed, both parties agree that the Company shall pay the Consultant an additional amount of Twenty-Five Million U.S. Dollars (USD 25,000,000 The foregoing description of the nature and essential points of the afore-mentioned Combined Addendum No. 1 to the Business Development and Structuring Consultancy Agreement dated June 27, 2024 and the Business Development and Structuring Consultancy Agreement for the Development and Establishment of an International Financial Center in Vietnam dated July 5, 2024 between Dr. D’ORLEANS DE FRANCE BENEDICT CARL WILLIAM (f/k/a BEN CARL SMET) and PHI Group, Inc. (n/k/a Philux Global Group Inc.) is qualified in its entirety by reference to the full text of said Addendum, which was filed as Exhibit 10.1 to the Current Report on Form 8-K with the Securities and Exchange Commission on November 15, 2024.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
PRINCIPLES OF CONSOLIDATION	PRINCIPLES OF CONSOLIDATION The consolidated financial statements include the accounts of PHI Group, Inc. (a/k/a Philux Global Group, Inc.) and its active wholly owned subsidiaries: (1) Philux Capital Advisors, Inc., a Wyoming corporation ( 100% 100% 100% 100% 100% 100%
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 financial statements for the year ended June 30, 2024. 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 months ended September 30, 2024 are not necessarily indicative of the results to be expected for the fiscal year ending June 30, 2025.
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.
ACCOUNTS RECEIVABLE	ACCOUNTS RECEIVABLE Management reviews the composition of accounts receivable and analyzes historical bad debts. As of September 30, 2024, 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. Expenditures for maintenance and repairs are charged to expense as incurred.
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 was permitted for fiscal years beginning after December 15, 2020. 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.

OTHER ASSETS (Tables)

OTHER ASSETS (Tables)	3 Months Ended
	Sep. 30, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
SCHEDULE OF OTHER ASSETS	Other Assets as of September 30, 2024 and June 30, 2024 comprise of: SCHEDULE OF OTHER ASSETS September 30, 24 June 30, 2024 Investment in PHILUX Global Funds, SCA, SICAV-RAIF $ 33,588 $ 32,220 Total Other Assets $ 33,588 $ 32,220

CURRENT LIABILITIES (Tables)

CURRENT LIABILITIES (Tables)	3 Months Ended
	Sep. 30, 2024
Disclosure Current Liabilities Abstract
SCHEDULE OF CURRENT LIABILITIES	Current Liabilities of the Company consist of the followings as of September 30, 2024 and June 30, 2024. SCHEDULE OF CURRENT LIABILITIES Current Liabilities September 30,2024 June 30, 2024 Accounts payable 629,490 626,730 Sub-fund obligations 1,624,775 1,624,775 Accrued expenses 1,889,633 1,795,874 Short-term loans and notes payable 5,278,398 4,460,981 Convertible Promissory Notes 5,000 5,000 Due to Officers 298,761 278,812 Advances from customers 952,650 952,650 Total $ 10,678,707 $ 9,744,823

DUE TO OFFICERS (Tables)

DUE TO OFFICERS (Tables)	3 Months Ended
	Sep. 30, 2024
Due To Officers
SCHEDULE OF COMPONENTS OF DUE TO OFFICERS AND DIRECTORS	SCHEDULE OF COMPONENTS OF DUE TO OFFICERS AND DIRECTORS Officers/Directors Sep 30, 2024 Jun 30, 2024 Henry Fahman 290,261 $ 278,812 Steve Truong 8,500 $ - Total $ 298,761 $ 278,812

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	3 Months Ended
	Sep. 30, 2024
Related Party Transactions [Abstract]
SCHEDULE OF RELATED PARTIES	As of September 30, 2024, the Company still owed the following amounts to Related Parties: SCHEDULE OF RELATED PARTIES No. Name: Title: Amount: Description: 1) Henry Fahman Chairman/CEO $ 446,796 Accrued salaries $ 290,261 Loans 2) Tina Phan Secretary/Treasurer $ 383,799 Accrued salaries 3) Steve Truong Director $ 8,500 Loan

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative)	Sep. 30, 2024	Sep. 30, 2023
PHILUX Capital Advisors, Inc [Member]
Ownership percentage	100%
PHILUX Global Advisors, Inc [Member]
Ownership percentage	100%
PHI Luxembourg Development SA [Member]
Ownership percentage	100%
PHILUX Global Funds SCA, SICAV-RAIF [Member]
Ownership percentage	100%
PHILUX Global General Partners SA [Member]
Ownership percentage	100%	100%
PHI Luxembourg Holding SA [Member]
Ownership percentage	100%	100%

SCHEDULE OF OTHER ASSETS (Detai

SCHEDULE OF OTHER ASSETS (Details) - USD ($)	Sep. 30, 2024	Jun. 30, 2024
Total Other Assets	$ 33,588	$ 32,220
PHILUX Global Funds [Member]
Total Other Assets	$ 33,588	$ 32,220

OTHER ASSETS (Details Narrative

OTHER ASSETS (Details Narrative)	3 Months Ended
	Sep. 30, 2024 USD ($)	Sep. 30, 2023 EUR (€) shares
PHI Luxembourg Holding SA [Member]
Value of shares held		€ 1,000
Ownership Percentage	100%	100%
PHILUX Global General Partners SA [Member]
Value of shares held		€ 1,000
Ownership Percentage	100%	100%
PHI Luxembourg Development SA [Member]
Number of shares held | shares		28
Value of shares held		€ 28,000
PHILUX Global Funds [Member]
Shares issued, value | $	$ 33,588

SCHEDULE OF CURRENT LIABILITIES

SCHEDULE OF CURRENT LIABILITIES (Details) - USD ($)	Sep. 30, 2024	Jun. 30, 2024
Defined Benefit Plan Disclosure [Line Items]
Accounts payable	$ 629,490	$ 626,730
Sub-fund obligations	1,624,775	1,624,775
Accrued expenses	1,889,633	1,795,874
Short-term loans and notes payable	5,278,398	4,460,981
Convertible Promissory Notes	5,000	5,000
Due to Officers	298,761	278,812
Advances from customers	952,650	952,650
Total	10,678,707	9,744,823
Related Party [Member]
Defined Benefit Plan Disclosure [Line Items]
Due to Officers	$ 298,761	$ 278,812

CURRENT LIABILITIES (Details Na

CURRENT LIABILITIES (Details Narrative) - USD ($)	3 Months Ended
	Sep. 30, 2024	Jun. 30, 2024
Accrued interest	$ 1,889,633	$ 1,795,874
Accrued salaries and payroll liabilities	1,290,595
Accrued interest	585,570
Cash overdraft	59
Short-term loans and notes payable	5,278,398	4,460,981
Contingency liabilities	3,357,966
Convertible notes payable	5,000	5,000
Advances from customers for consulting fees	952,650
Accrued interest	819,038
Deposits	133,612
Sub - fund obligations	1,624,775	$ 1,624,775
PPP Loan [Member]
Short-term loans and notes payable	43,750
Merchant Cash [Member]
Merchant cash advance loan	105,482
Convertible Promissory Notes [Member]
Convertible notes payable	5,000
American Express [Member]
Accrued interest	$ 3,410

SCHEDULE OF COMPONENTS OF DUE T

SCHEDULE OF COMPONENTS OF DUE TO OFFICERS AND DIRECTORS (Details) - USD ($)	Sep. 30, 2024	Jun. 30, 2024
Total	$ 298,761	$ 278,812
Related Party [Member]
Total	298,761	278,812
Henry Fahman [Member] | Related Party [Member]
Total	290,261	278,812
Steve Truong [Member] | Related Party [Member]
Total	$ 8,500

DUE TO OFFICERS (Details Narrat

DUE TO OFFICERS (Details Narrative) - USD ($)	Sep. 30, 2024	Jun. 30, 2024
Defined Benefit Plan Disclosure [Line Items]
Due to officers and directors	$ 298,761	$ 278,812
Related Party [Member]
Defined Benefit Plan Disclosure [Line Items]
Due to officers and directors	$ 298,761	$ 278,812

LOANS AND PROMISSORY NOTES (Det

LOANS AND PROMISSORY NOTES (Details Narrative) - USD ($)	Sep. 30, 2024	Jun. 30, 2024
Short-Term Debt [Line Items]
Short-term loans and notes payable	$ 5,278,398	$ 4,460,981
Contingency liabilities	3,357,966
Convertible promissory notes	5,000	$ 5,000
PPP Loan [Member]
Short-Term Debt [Line Items]
Short-term loans and notes payable	43,750
Merchant Cash [Member]
Short-Term Debt [Line Items]
Merchant cash advance loan	$ 105,482

STOCKHOLDER_S EQUITY (Details N

STOCKHOLDER’S EQUITY (Details Narrative) - USD ($)	Sep. 30, 2024	Jun. 30, 2024	Sep. 30, 2023
Accumulated Other Comprehensive Income (Loss) [Line Items]
Common stock shares authorized	60,000,000,000	60,000,000,000	60,000,000,000
Common stock par value	$ 0.001	$ 0.001	$ 0.001
Preferred stock, shares authorized	500,000,000	500,000,000	500,000,000
Preferred stock par value	$ 0.001	$ 0.001	$ 0.001
Teasury stock, shares	484,767	484,767
Teasury stock value	$ 44,170	$ 44,170
Common stock shares issued	46,873,940,565	46,873,940,565
Common stock shares outstanding	46,873,940,565	46,873,940,565
Class B Series I Preferred Stock [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Preferred stock, shares issued	600,000
Preferred stock, shares outstanding	600,000

STOCK-BASED COMPENSATION PLAN (

STOCK-BASED COMPENSATION PLAN (Details Narrative) - 2021 Employee Benefit Plan [Member] - shares		3 Months Ended
	Sep. 09, 2021	Sep. 30, 2024
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		2,407,196,586

SCHEDULE OF RELATED PARTIES (De

SCHEDULE OF RELATED PARTIES (Details)	Sep. 30, 2024 USD ($)
Accrued salaries	$ 1,290,595
Henry Fahman [Member]
Accrued salaries	446,796
Loans	290,261
Tina Phan [Member]
Accrued salaries	383,799
Steve Truong [Member]
Loans	$ 8,500

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative)	Sep. 30, 2024 USD ($)
Accrued salaries	$ 1,290,595
President and Secretary and Treasurer [Member]
Accrued salaries	$ 52,500

CONTRACTS AND COMMITMENTS (Deta

CONTRACTS AND COMMITMENTS (Details Narrative) - USD ($)					3 Months Ended
	Jun. 05, 2023	Mar. 21, 2023	Feb. 21, 2023	Mar. 01, 2022	Sep. 30, 2024	Jun. 30, 2024	Aug. 10, 2020
Administrative and legal requirements fees					$ 952,650
Common stock to be issued					2,007,790	$ 1,890,290
Share-Based Payment Arrangement, Tranche One [Member]
Additional investments	$ 500,000		$ 50,000,000
Share-Based Payment Arrangement, Tranche Two [Member]
Additional investments	50,000,000
Investor [Member]
Additional investments	200,000		50,000,000
Tecco Group [Member]
Ownership interest of general partners							49%
Tecco Group [Member]
Contributed amount					156,366.25		$ 2,000,000
International Investor Groups [Member]
Contributed amount					$ 6,500,000,000
Saigon Silicon City Joint Stock [Member]
Additional investments			500,000,000
Administrative and legal requirements fees	$ 1,500,000,000	$ 50,000,000	$ 500,000
Equity Purchase Agreement [Member] | Mast Hill Fund LP [Member]
Equity line of credit				$ 10,000,000
Aggregate equity line of credit				$ 10,000,000
Description of purchase price				The purchase price per share shall mean 90% of the average of the 2 lowest volume-weighted average prices of the Common Stock during the Pricing Period, less clearing fees, brokerage fees, other legal, and transfer agent fees incurred in the deposit (the “Net Purchase Amount”). The Investor shall pay the Net Purchase Amount to the Company by wire for each Drawdown Notice within 2 business days of the end of the Pricing Period.
Description of drawdown notice				The put amount in each Drawdown Notice shall not be less than $50,000 and shall not exceed the lesser of (i) $500,000 or (ii) 200% of the average dollar trading volume of the Common Stock during the 7 trading days immediately before the Put Date, subject to Beneficial Ownership cap

GOING CONCERN UNCERTAINTY (Deta

GOING CONCERN UNCERTAINTY (Details Narrative) - USD ($)	3 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accumulated deficit	$ 86,591,425		$ 85,514,751
Total stockholders deficit	10,611,773	$ (8,540,992)	$ 9,653,967	$ 8,936,654	$ 8,546,330	$ (8,222,002)
Net loss	$ 1,076,674	$ 2,989,904

SUBSEQUENT EVENT (Details Narra

SUBSEQUENT EVENT (Details Narrative) - USD ($)		3 Months Ended
	Nov. 07, 2024	Mar. 31, 2024
Subsequent Event [Line Items]
Paid for services rendered		$ 100,000
Subsequent Event [Member]
Subsequent Event [Line Items]
Paid for services rendered	$ 25,000,000