PHI GROUP INC Releases Q4 2023 10-Q Report

PHI GROUP INC, a company engaged in consulting, advisory, and management services, has released its Form 10-Q report for the quarter ended December 31, 2023. The report provides insights into the company's financial performance and operational activities, highlighting stable revenue generation and strategic initiatives aimed at long-term growth.

Financial Highlights

• Total Revenues: $5,000 for the three months ended December 31, 2023, consistent with the same period in 2022, indicating stable revenue generation from consulting, advisory, and management services.
• Income (loss) from operations: $(181,692) for the three months ended December 31, 2023, compared to $(215,175) for the same period in 2022, reflecting a slight improvement in operational efficiency.
• Net income (loss): $(1,711,938) for the three months ended December 31, 2023, compared to $(616,942) for the same period in 2022, highlighting increased net losses primarily due to higher interest expenses and other income (expenses).
• Net loss per share: $(0.00) for both basic and diluted for the three months ended December 31, 2023 and 2022, indicating no change in per-share loss despite increased net losses.

Business Highlights

• Revenue Segments: The company reported revenue from consulting, advisory, and management services, with a total of $5,000 for the three months ended December 31, 2023. This segment remains consistent with the previous year, indicating stable demand for these services.
• Geographical Performance: The company is actively involved in developing the Asia Diamond Exchange in Vietnam, which is expected to enhance its presence in the Asian market. This strategic move aims to capitalize on the growing demand for diamonds in the region.
• New Product Launches: In December 2023, the company signed an agreement to develop and implement a proprietary clean energy technology using geomagnetic energy. This initiative includes producing generators and engines powered by geomagnetic energy, marking a significant expansion into the clean energy sector.
• New Production Launches: The company plans to establish a new subsidiary in the United Arab Emirates to integrate clean energy technologies, replacing its former subsidiary CO2-1-0 (CARBON) Corp. This move is part of its strategy to engage in carbon emission mitigation using blockchain and crypto technologies.
• Future Outlook: The company intends to focus on Philux Global Funds, launching the Philux Global Select Growth Fund and other sub-funds for investment in real estate, renewable energy, infrastructure, agriculture, healthcare, and the Asia Diamond Exchange. This strategy aims to create significant long-term value for shareholders.

SEC Filing: PHI GROUP INC Releases Q4 2023 [ OTC:PHIL ] - 10-Q - Mar. 11, 2024