Form 8-K - Current report
13 Mai 2024 - 7:29PM
Edgar (US Regulatory)
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2024-04-15
2024-04-15
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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported): April 15,
2024
PHI
GROUP, INC.
(a/k/a
PHILUX GLOBAL GROUP INC.)
(Exact
name of registrant as specified in its charter)
Wyoming |
|
001-38255-NY |
|
90-0114535 |
(State
or other jurisdiction |
|
(Commission |
|
(IRS
Employer |
of
incorporation) |
|
File
Number) |
|
Identification
No.) |
2323
Main Street, Irvine,
CA |
|
92614 |
(Address
of principal executive offices) |
|
(Zip
Code) |
Registrant’s
telephone number, including area code: 714-642-0571
N/A
(Former
name or former address, if changed since last report)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions (see General Instruction A.2. below):
☐ |
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|
|
☐ |
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
|
|
☐ |
Precommencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
|
|
☐ |
Precommencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)). |
Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class |
|
Trading
Symbol(s) |
|
Name
of each exchange on which registered |
Common
Stock |
|
PHIL |
|
OTC
Markets |
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company ☐
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provide pursuant to Section 13(a) of the Exchange Act. ☐
SECTION
8 - OTHER EVENTS
Item
8.01 Other Events.
1.
Asset Management Agreement between a ultra-high-net-worth investor group and Philux Capital Advisors, Inc., a subsidiary of the registrant.
On
April 15, 2024, Philux Capital Advisors, Inc., a subsidiary of the registrant, (the” Investment Manager”), signed an Asset
Management Agreement (the “Agreement”) with a ultra-high-net-worth investor group (the “Investor Party”) to manage
a total principal amount of Fifty Million United States Dollars (“the Investment Fund”) on behalf of the Investor Party for
investment in different transactions to be selected, advised and managed by the Investment Manager for a period of five years. According
to the Agreement, the Investment Manager shall receive 5% annual management fee of the principal amount and share 30% profits from the
Investment Fund.
The
Company intends to allocate a large portion of the Investment Fund towards the initial budget for the continued development of the Asia
Diamond Exchange and the International Financial Center in Vietnam and a smaller portion towards the development of the geomagnetic energy
program under Philux Global Energy, Inc. The Company is in the process of closing this transaction and will provide further updates as
soon as possible.
SECTION
9 – FINANCIAL STATEMENTS AND EXHIBITS
Item
9.01 Financial Statements and Exhibits
Due
to the nature of strict confidentiality and non-disclosure agreement, a hard copy of the Asset Management Agreement will be submitted
directly to the Securities and Exchange Commission.
Exhibit
No. |
|
Description |
|
|
|
104 |
|
Cover
Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
Dated:
May 13, 2024
PHI
GROUP, INC. |
|
|
|
(Registrant) |
|
|
|
By: |
/s/
Henry D. Fahman |
|
|
Henry
D. Fahman |
|
|
Chairman
and CEO |
|
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