Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Jun. 30, 2018 | Oct. 12, 2018 | Dec. 31, 2017 | |
Document And Entity Information | |||
Entity Registrant Name | PHI GROUP INC | ||
Entity Central Index Key | 704,172 | ||
Document Type | 10-K | ||
Document Period End Date | Jun. 30, 2018 | ||
Amendment Flag | false | ||
Current Fiscal Year End Date | --06-30 | ||
Entity a Well-known Seasoned Issuer | No | ||
Entity a Voluntary Filer | No | ||
Entity's Current Reporting Status | Yes | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Small Business Flag | true | ||
Entity Emerging Growth Company | false | ||
Entity Ex Transition Period | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 0 | ||
Entity Common Stock, Shares Outstanding | 173,485,570 | ||
Trading Symbol | PHIL | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2,018 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Jun. 30, 2018 | Jun. 30, 2017 |
Current assets: | ||
Cash and cash equivalents | $ 13,937 | $ 38,369 |
Marketable securities | 1,100,483 | 502,696 |
Accounts Receivable | 432,000 | |
Other current assets | 174,877 | 133,000 |
Total current assets | 1,721,298 | 674,064 |
Other assets: | ||
Investments | 25,005,000 | |
Contract Assets | 697,841 | |
Total other assets | 25,702,841 | |
Total Assets | 27,424,139 | 674,064 |
Current liabilities: | ||
Accounts payable | 116,063 | 159,875 |
Accrued expenses | 392,205 | 384,929 |
Short-term notes payable | 1,336,552 | 873,008 |
Due to officers | 233,577 | 592,141 |
Other current payable | 92,781 | |
Contract Liabilities | 697,841 | |
Client deposits | 780 | |
Derivative Liabilities | 738,814 | 454,756 |
Total current liabilities | 3,607,834 | 2,465,489 |
Long-Term Liabilities | ||
Accrued Expenses | 1,063,481 | 1,462,836 |
Accrued Interest | 2,005,815 | 2,715,963 |
Advances from Customers | 288,219 | 288,219 |
Demand Promissory Note | 24,048,500 | |
Liabilities from Discontinued Operations | 1,040,037 | 1,040,037 |
Preferred Stock Liabilities - Discont. Operations | 215,000 | 215,000 |
Total Long-Term Liabilities | 28,661,052 | 5,722,056 |
Total Liabilities | 32,268,886 | 8,187,545 |
Stockholders' deficit: | ||
Preferred Stock, $0.001 par value; 100,000,000 shares authorized; 10,000,000 shares Class A Series II issued and outstanding as of 06/30/2018. Par Value | 10,000 | |
Common stock, $.001 par value; 300,000,000 shares authorized; 15,370,825 issued and Common stock, $0.001 par value; 1,900,000,000 shares authorized; 135,893,815 shares issued and outstanding on 06/30/2018, and 16,109,036 issued and outstanding on 6/30/2017, respectively, adjusted for 1 for 1,500 reverse split effective March 15, 2012. - Par value: | 382,920 | 249,645 |
Paid-in capital APIC - Common Stock | 33,887,240 | 31,424,061 |
Common Stock to be cancelled - 100,000 shares previously issued to Level Logic, Inc. | (33,000) | |
Treasury stock: 484,767 and 321,569 shares as of 6/30/18 and 6/30/17, respectively - cost method. | (44,170) | (40,908) |
Common Stock to be issued - American Pacific Resources, Inc. subsidiary | 447,500 | |
Acc. other comprehensive gain (loss) | 751,962 | 153,474 |
Accumulated deficit | (40,551,299) | (39,299,754) |
Total stockholders' deficit | (4,844,747) | (7,513,481) |
Total liabilities and stockholders' deficit | 27,424,139 | 674,064 |
Class A Series II Preferred Stock [Member] | ||
Stockholders' deficit: | ||
Paid-in capital APIC - Common Stock | $ 304,100 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares | 12 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Preferred stock, par value | $ 0.001 | |
Preferred stock, shares authorized | 100,000,000 | |
Common stock, par value | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 1,900,000,000 | 1,900,000,000 |
Common stock, shares issued | 135,893,815 | 16,109,036 |
Common stock, shares outstanding | 135,893,815 | 16,109,036 |
Reverse split | 1 for 1,500 reverse split effective March 15, 2012. | 1 for 1,500 reverse split effective March 15, 2012. |
Treasury stock, shares | 484,767 | 321,569 |
Level Logic, Inc. [Member] | ||
Common stock, shares issued | 100,000 | |
Common Stock One [Member] | ||
Common stock, par value | $ .001 | |
Common stock, shares authorized | 300,000,000 | |
Common stock, shares issued | 15,370,825 | |
Class A Series II Preferred Stock [Member] | ||
Preferred stock, shares issued | 10,000,000 | |
Preferred stock, shares outstanding | 10,000,000 |
Consolidated Statement of Opera
Consolidated Statement of Operations - USD ($) | 12 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Net revenues | ||
Consulting, advisory and management services | $ 1,240,659 | $ 113,500 |
Sales | 432,000 | |
Total revenues | 1,672,659 | 113,500 |
Operating expenses: | ||
Salaries and wages | 238,165 | 238,374 |
Professional services, including non-cash compensation | 1,508,811 | 311,911 |
General and administrative | 155,990 | 120,173 |
Total operating expenses | 1,902,966 | 670,458 |
Income (loss) from operations | (230,307) | (556,958) |
Other income and expenses | ||
Interest expense | (1,352,736) | (526,562) |
Gain (loss) on sale of marketable securities | (2,874) | |
Gain (loss) on sale of assets | (20,011) | |
Loss on loan/note conversion | (94,539) | (131,818) |
Other income (expense) | (348,739) | (322,495) |
Net other income (expenses) | (1,796,013) | (1,003,760) |
Net income (loss) | (2,026,320) | (1,560,718) |
Other comprehensive income (loss) | ||
Accumulated other comprehensive gain (loss) | 751,962 | 153,974 |
Comprehensive income (loss) | $ (1,274,359) | $ (1,406,744) |
Net loss per share: | ||
Basic | $ (0.03) | $ (0.10) |
Diluted | $ (0.03) | $ (0.10) |
Weighted average number of shares outstanding: | ||
Basic | 72,797,797 | 15,553,354 |
Diluted | 72,797,797 | 15,553,354 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Cash flows from operating activities: | ||
Net income (loss) from operations | $ (2,026,320) | $ (1,560,718) |
Changes in operating assets and liabilities: | ||
(Increase) decrease in other assets and prepaid expenses | (1,071,665) | (108,876) |
Increase (decrease) in accounts payable and accrued expenses | 1,142,345 | (5,254,654) |
Net cash provided by (used in) operating activities | (1,955,640) | (6,924,248) |
Cash flows from investing activities: | ||
Deposit for acquisition | 75,000 | |
Land purchase | 82,733 | |
Contract Assets | (697,841) | |
Investment in mineral assets - Oregon mining claims | (25,000,000) | |
Investment in Aquarius Power, Inc. | (5,000) | |
Other Assets Receivable - Agent155 Media Corp. | 66,955 | |
Net cash provided by (used in) investing activities | (25,702,841) | 224,688 |
Cash flows from financing activities: | ||
Change in Common Stock | 2,563,453 | 907,261 |
Change in Preferred Stock | 314,100 | |
Change in Common Stock of Subsidiary | 447,500 | |
Change in Accum. other comprehensive income (loss) | 598,488 | 123,211 |
Change in Retained Earnings | 774,775 | |
Change in treasury stock | (3,262) | (17,081) |
Change in short-term and long-term liabilities | (1,109,503) | 5,722,056 |
Demand promissory note | 24,048,500 | |
Net cash provided by (used in) financing activities | 27,634,050 | 6,735,447 |
Net decrease in cash and cash equivalents | (24,431) | 35,886 |
Cash and cash equivalents, beginning of period | 38,369 | 2,482 |
Cash and cash equivalents, end of period | $ 13,937 | $ 38,369 |
Statement of Stockholders' Equi
Statement of Stockholders' Equity (Deficit) - USD ($) | Common Stock [Member] | Preferred Stock [Member] | Treasury Stock [Member] | Additional Paid-in Capital [Member] | Other Comprehensive Income/(Loss) [Member] | Accumulated (Deficit) [Member] | Common Stock to be Cancelled [Member] | Subsidiary Stock to be Issued [Member] | Total |
Balance at Jun. 30, 2016 | $ 243,234 | $ (21,823) | $ 30,521,209 | $ 30,263 | $ (37,774,842) | $ (7,001,960) | |||
Balance, shares at Jun. 30, 2016 | 9,697,498 | (67,271) | |||||||
Adjustment to Accumulated Deficit | 35,807 | 35,807 | |||||||
Shares issued to Milost Advisors for consulting service (7/29/16) | $ 225 | 89,775 | 90,000 | ||||||
Shares issued to Milost Advisors for consulting service (7/29/16), shares | 225,000 | ||||||||
Shares issued to Steve Truong for cash (8/29/16) | $ 49 | 19,951 | 20,000 | ||||||
Shares issued to Steve Truong for cash (8/29/16), shares | 48,930 | ||||||||
Shares issued for conversion of note by Auctus Fund LLC (8/30/16) | $ 530 | 138,412 | 138,942 | ||||||
Shares issued for conversion of note by Auctus Fund LLC (8/30/16), shares | 529,598 | ||||||||
Shares issued for prepaid consulting expense (10/31/16) | $ 100 | 32,900 | 33,000 | ||||||
Shares issued for prepaid consulting expense (10/31/16), shares | 100,000 | ||||||||
Shares issued for consulting expense (10/31/16) | $ 100 | 32,900 | 33,000 | ||||||
Shares issued for consulting expense (10/31/16), shares | 100,000 | ||||||||
Shares issued for conversion of note by Thuong Le (12/5/16) | $ 606 | 181,212 | 181,818 | ||||||
Shares issued for conversion of note by Thuong Le (12/5/16), shares | 606,060 | ||||||||
Shares issued to Henry Fahman for payment of debts (12/22/16) | $ 2,500 | 347,500 | 350,000 | ||||||
Shares issued to Henry Fahman for payment of debts (12/22/16), shares | 2,500,000 | ||||||||
Shares issued for conversion of note by EMA Financial LLC (1/30/17) | $ 180 | 19,036 | 19,216 | ||||||
Shares issued for conversion of note by EMA Financial LLC (1/30/17), shares | 180,000 | ||||||||
Shares issued for conversion of note by JSJ Investments (2/7/17) | $ 657 | 71,556 | 72,213 | ||||||
Shares issued for conversion of note by JSJ Investments (2/7/17), shares | 657,169 | ||||||||
Shares issued for conversion of note by EMA Financial LLC (2/9/17) | $ 200 | 15,785 | 15,985 | ||||||
Shares issued for conversion of note by EMA Financial LLC (2/9/17), shares | 200,000 | ||||||||
Shares issued for conversion of note by EMA Financial LLC (3/10/17) | $ 244 | 13,078 | 13,323 | ||||||
Shares issued for conversion of note by EMA Financial LLC (3/10/17), shares | 244,340 | ||||||||
Shares issued for conversion of note by Auctus Fund LLC (4/6/17) | $ 750 | 23,400 | 24,150 | ||||||
Shares issued for conversion of note by Auctus Fund LLC (4/6/17), shares | 750,000 | ||||||||
Shares issued for conversion of note by Power Up Lending Group (6/23/17) | $ 495 | 7,123 | 7,618 | ||||||
Shares issued for conversion of note by Power Up Lending Group (6/23/17), shares | 495,441 | ||||||||
Cancellation of shares previously issued to Milost Advisors (6/28/17) | $ (225) | (89,775) | (90,000) | ||||||
Cancellation of shares previously issued to Milost Advisors (6/28/17), shares | (225,000) | ||||||||
Net income (loss) | (1,560,718) | (1,560,718) | |||||||
Balance at Jun. 30, 2017 | $ 249,645 | $ (40,908) | 31,424,061 | 153,474 | (39,299,754) | (7,513,481) | |||
Balance, shares at Jun. 30, 2017 | 16,109,036 | (321,569) | |||||||
Adjustment to Accumulated Deficit | 774,775 | ||||||||
Power Up Lending Group - shares issued for conversion of note (7/5/17) | $ 741 | 9,544 | 10,285 | ||||||
Power Up Lending Group - shares issued for conversion of note (7/5/17), shares | 740,741 | ||||||||
Auctus Fund, LLC - shares issued for conversion of note (7/11/17) | $ 800 | 4,352 | 5,152 | ||||||
Auctus Fund, LLC - shares issued for conversion of note (7/11/17), shares | 800,000 | ||||||||
Power Up Lending Group - shares issued for conversion of note (7/17/17) | $ 880 | 7,262 | 8,142 | ||||||
Power Up Lending Group - shares issued for conversion of note (7/17/17) | 880,000 | ||||||||
Power Up Lending Group - shares issued for conversion of note (7/21/17) | $ 1,020 | 7,118 | 8,138 | ||||||
Power Up Lending Group - shares issued for conversion of note (7/21/17), shares | 1,019,872 | ||||||||
Henry Fahman - shares issued for conversion of loans (7/25/17) | $ 20,000 | 420,000 | 440,000 | ||||||
Henry Fahman - shares issued for conversion of loans (7/25/17), shares | 20,000,000 | ||||||||
Steve Truong - shares issued for cash (7/25/17) | $ 1,333 | 18,667 | 20,000 | ||||||
Steve Truong - shares issued for cash (7/25/17), shares | 1,333,333 | ||||||||
Andreas Held - shares issued for cash (7/25/17) | $ 200 | 2,800 | 3,000 | ||||||
Andreas Held - shares issued for cash (7/25/17), shares | 200,000 | ||||||||
Power Up Lending Group - shares issued for conversion of note (10/17/17) | $ 435 | 26,286 | 26,721 | ||||||
Power Up Lending Group - shares issued for conversion of note (10/17/17), shares | 434,783 | ||||||||
JSJ Investments Inc. - shares issued for conversion of note (10/19/17) | $ 371 | 28,813 | 29,184 | ||||||
JSJ Investments Inc. - shares issued for conversion of note (10/19/17), shares | 371,057 | ||||||||
Power Up Lending Group - shares issued for conversion of note (10/23/17) | $ 622 | 32,278 | 32,900 | ||||||
Power Up Lending Group - shares issued for conversion of note (10/23/17), shares | 622,407 | ||||||||
EMA Financial LLC - shares issued for conversion of note (10/24/17) | $ 250 | 8,563 | 8,813 | ||||||
EMA Financial LLC - shares issued for conversion of note (10/24/17), shares | 250,000 | ||||||||
Power Up Lending Group - shares issued for conversion of note (10/31/17) | $ 419 | 15,479 | 15,898 | ||||||
Power Up Lending Group - shares issued for conversion of note (10/31/17), shares | 419,212 | ||||||||
EMA Financial LLC - shares issued for conversion of note (11/07/17) | $ 600 | 5,518 | 6,118 | ||||||
EMA Financial LLC - shares issued for conversion of note (11/07/17), shares | 600,000 | ||||||||
Auctus Fund, LLC - shares issued for conversion of note (11/08/17) | $ 2,155 | 50,783 | 52,938 | ||||||
Auctus Fund, LLC - shares issued for conversion of note (11/08/17), shares | 2,154,700 | ||||||||
Andreas Held - shares issued for cash (11/16/17) | $ 80 | 1,120 | 1,200 | ||||||
Andreas Held - shares issued for cash (11/16/17), shares | 80,000 | ||||||||
EMA Financial LLC - shares issued for conversion of note (11/21/17) | $ 1,000 | 10,938 | 11,938 | ||||||
EMA Financial LLC - shares issued for conversion of note (11/21/17), shares | 1,000,000 | ||||||||
Auctus Fund, LLC - shares issued for conversion of note (12/01/17) | $ 2,346 | 33,489 | 35,835 | ||||||
Auctus Fund, LLC - shares issued for conversion of note (12/01/17), shares | 2,346,000 | ||||||||
JSJ Investments Inc. - shares issued for conversion of note (12/05/17) | $ 1,386 | 23,884 | 25,270 | ||||||
JSJ Investments Inc. - shares issued for conversion of note (12/05/17), shares | 1,385,677 | ||||||||
EMA Financial LLC - shares issued for conversion of note (12/12/17) | $ 2,000 | 11,857 | 13,857 | ||||||
EMA Financial LLC - shares issued for conversion of note (12/12/17), shares | 2,000,000 | ||||||||
JSJ Investments Inc. - shares issued for conversion of note (12/13/17) | $ 2,251 | 23,639 | 25,890 | ||||||
JSJ Investments Inc. - shares issued for conversion of note (12/13/17), shares | 2,250,821 | ||||||||
Auctus Fund, LLC - shares issued for conversion of note (12/14/17) | $ 2,744 | 20,514 | 23,258 | ||||||
Auctus Fund, LLC - shares issued for conversion of note (12/14/17), shares | 2,744,300 | ||||||||
Steve Truong - shares issued for cash (12/14/17) | $ 1,724 | 8,276 | 10,000 | ||||||
Steve Truong - shares issued for cash (12/14/17), shares | 1,724,138 | ||||||||
EMA Financial LLC - shares issued for conversion of note (12/19/17) | $ 2,500 | 14,917 | 17,417 | ||||||
EMA Financial LLC - shares issued for conversion of note (12/19/17), shares | 2,500,000 | ||||||||
JSJ Investments Inc. - shares issued for conversion of note (12/20/17) | $ 2,914 | 30,592 | 33,506 | ||||||
JSJ Investments Inc. - shares issued for conversion of note (12/20/17), shares | 2,913,837 | ||||||||
EMA Financial LLC - shares issued for conversion of note (12/29/17) | $ 2,500 | 15,103 | 17,603 | ||||||
EMA Financial LLC - shares issued for conversion of note (12/29/17), shares | 2,500,000 | ||||||||
Crown Bridge Partners LLC - shares issued for conversion of note (12/29/17) | $ 2,300 | 14,854 | 17,154 | ||||||
Crown Bridge Partners LLC - shares issued for conversion of note (12/29/17), shares | 2,300,000 | ||||||||
Auctus Fund, LLC - shares issued for conversion of note (01/08/18) | $ 1,836 | 13,620 | 15,456 | ||||||
Auctus Fund, LLC - shares issued for conversion of note (01/08/18), shares | 1,835,795 | ||||||||
JSJ Investments Inc. - shares issued for conversion of note (01/09/18) | $ 2,602 | 24,295 | 26,897 | ||||||
JSJ Investments Inc. - shares issued for conversion of note (01/09/18), shares | 2,601,957 | ||||||||
Crown Bridge Partners LLC - shares issued for conversion of note (01/11/18) | $ 2,900 | 29,060 | 31,960 | ||||||
Crown Bridge Partners LLC - shares issued for conversion of note (01/11/18), shares | 2,900,000 | ||||||||
EMA Financial LLC - shares issued for conversion of note (01/25/18) | $ 2,500 | 17,921 | 20,421 | ||||||
EMA Financial LLC - shares issued for conversion of note (01/25/18), shares | 2,500,000 | ||||||||
Crown Bridge Partners LLC - shares issued for conversion of note (01/29/18) | $ 2,500 | 110,475 | 112,975 | ||||||
Crown Bridge Partners LLC - shares issued for conversion of note (01/29/18), shares | 2,500,000 | ||||||||
EMA Financial LLC - shares issued for conversion of note (01/29/18) | $ 3,812 | 24,282 | 28,094 | ||||||
EMA Financial LLC - shares issued for conversion of note (01/29/18), shares | 3,812,188 | ||||||||
Andreas Held - shares issued for cash (01/30/18) | $ 100 | 881 | 981 | ||||||
Andreas Held - shares issued for cash (01/30/18), shares | 100,000 | ||||||||
Cuong Tran - shares issued for service (01/30/18) | $ 100 | 881 | 981 | ||||||
Cuong Tran - shares issued for service (01/30/18), shares | 100,000 | ||||||||
Crown Bridge Partners LLC - shares issued for conversion of note (02/08/18) | $ 2,510 | 20,319 | 22,829 | ||||||
Crown Bridge Partners LLC - shares issued for conversion of note (02/08/18), shares | 2,509,693 | ||||||||
Henry Fahman - shares issued for accrued salaries (02/08/18)) | $ 4,746 | 145,254 | 150,000 | ||||||
Henry Fahman - shares issued for accrued salaries (02/08/18)), shares | 4,746,084 | ||||||||
Tina Phan - shares issued for accrued salaries (02/08/18) | $ 1,898 | 58,102 | 60,000 | ||||||
Tina Phan - shares issued for accrued salaries (02/08/18), shares | 1,898,434 | ||||||||
Crown Bridge Partners LLC - shares issued for exercise of warrants (02/28/18) | $ 4,744 | 163,846 | 168,590 | ||||||
Crown Bridge Partners LLC - shares issued for exercise of warrants (02/28/18), shares | 4,744,007 | ||||||||
Crown Bridge Partners LLC - shares issued for exercise of warrants (04/13/18) | $ 4,654 | 69,143 | 73,797 | ||||||
Crown Bridge Partners LLC - shares issued for exercise of warrants (04/13/18), shares | 4,653,954 | ||||||||
Power Up Lending Group - shares issued for conversion of note (4/19/18) | $ 1,170 | 39,902 | 41,072 | ||||||
Power Up Lending Group - shares issued for conversion of note (4/19/18), shares | 1,169,591 | ||||||||
Power Up Lending Group - shares issued for conversion of note (4/23/18) | $ 1,128 | 29,513 | 30,641 | ||||||
Power Up Lending Group - shares issued for conversion of note (4/23/18), shares | 1,127,820 | ||||||||
Power Up Lending Group - shares issued for conversion of note (4/24/18) | $ 295 | 4,544 | 4,839 | ||||||
Power Up Lending Group - shares issued for conversion of note (4/24/18), shares | 295,156 | ||||||||
Crown Bridge Partners LLC - shares issued for conversion of note (05/25/18) | $ 3,160 | 86,302 | 89,462 | ||||||
Crown Bridge Partners LLC - shares issued for conversion of note (05/25/18), shares | 3,159,521 | ||||||||
Henry Fahman - shares issued for accrued salaries (04/27/18)) | $ 11,574 | 288,426 | 300,000 | ||||||
Henry Fahman - shares issued for accrued salaries (04/27/18)), shares | 11,574,074 | ||||||||
Tina Phan - shares issued for accrued salaries (04/27/18) | $ 4,630 | 115,370 | 120,000 | ||||||
Tina Phan - shares issued for accrued salaries (04/27/18), shares | 4,629,630 | ||||||||
Einstein Investments LLC - shares issued for conversion of note (06/04/18) | $ 3,150 | 46,850 | 50,000 | ||||||
Einstein Investments LLC - shares issued for conversion of note (06/04/18), shares | 3,149,607 | ||||||||
Crown Bridge Partners LLC - shares issued for exercise of warrants (06/21/18) | $ 6,049 | 290,318 | 296,367 | ||||||
Crown Bridge Partners LLC - shares issued for exercise of warrants (06/21/18), shares | 6,048,786 | ||||||||
Buu Chung - shares issued for conversion of note (06/26/18) | $ 158 | 2,842 | 3,000 | ||||||
Buu Chung - shares issued for conversion of note (06/26/18), shares | 157,604 | ||||||||
Net income (loss) | (2,026,320) | (2,026,320) | |||||||
Balance at Jun. 30, 2018 | $ 382,920 | $ 314,100 | $ (44,170) | $ 33,887,240 | $ 751,962 | $ (40,551,299) | $ (33,000) | $ 447,500 | $ (4,844,747) |
Balance, shares at Jun. 30, 2018 | 135,893,815 | 10,000,000 | (484,767) |
Nature of Business
Nature of Business | 12 Months Ended |
Jun. 30, 2018 | |
Accounting Policies [Abstract] | |
Nature of Business | NOTE 1 NATURE OF BUSINESS ITEM 1. BUSINESS OVERVIEW PHI Group, Inc. (the “Company” or “PHI”) is engaged in mergers and acquisitions as a principal ( www.phiglobal.com www.phicapitalholdings.com 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. Following the business combination with Providential Securities, Inc., a California-based financial services company, the Company changed its name to Providential Securities, Inc., a Nevada corporation, in January 2000. The Company then changed its name to Providential Holdings, Inc. in February 2000. In October 2000, Providential Securities withdrew its securities brokerage membership and ceased its financial services business. Subsequently, in April 2009, the Company changed its name to PHI Group, Inc. From October 2000 to October 2011, the Company and its subsidiaries were engaged in mergers and acquisitions advisory and consulting services, real estate and hospitality development, mining, oil and gas, telecommunications, technology, healthcare, private equity, and special situations. In October 2011, the Company discontinued the operations of Providential Vietnam Ltd., Philand Ranch Limited, a United Kingdom corporation (together with its subsidiaries Philand Ranch - Singapore, Philand Corporation - US, and Philand Vietnam Ltd. - Vietnam), PHI Gold Corporation (formerly PHI Mining Corporation, a Nevada corporation), and PHI Energy Corporation (a Nevada corporation), and mainly focused on acquisition and development opportunities in energy and natural resource businesses. At the present, the Company is engaged in mergers and acquisitions as a principal and investments in natural resources, energy, agriculture, consumer goods, technology and special situations. In addition, PHI Capital Holdings, Inc., a wholly owned subsidiary of PHI, continues to provide corporate and project finance services, including merger and acquisition (M&A) advisory and consulting services for other companies in a variety of industries. Furthermore, PHI is in the process of completing the formation of a Luxembourg Bank Fund known as “Reserved Alternative Investment Fund” (“RAIF”) and a number of initial sub-funds thereunder for investment in agriculture, energy, real estate and other selective projects, in accordance with the Luxembourg Law of July 23, 2016 relative to reserved alternative investment funds, Law of August 23, 2016 relative to commercial companies, and Modified Law of July 12, 2013 relative to alternative investment fund managers. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Jun. 30, 2018 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | NOTE 2 PRINCIPLES OF CONSOLIDATION The consolidated financial statements include the accounts of PHI Group, Inc., its wholly owned subsidiaries PHI Capital Holdings, Inc., Abundant Farms, Inc., American Pacific Resources, Inc., and PHI Group Regional Center, LLC as well as its discontinued operations Providential Securities, Inc., PHI Energy Corporation, PHI Gold Corp, Providential Vietnam Ltd. and Philand Ranch Limited (including its 100% owned subsidiary Philand Corporation and Philand Vietnam Ltd), Omni Resources, Inc., and Cornerstone Biomass Corp., collectively referred to as the “Company.” All significant inter-company transactions have been eliminated in consolidation. USE OF ESTIMATES The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. CASH AND CASH EQUIVALENTS The Company considers all liquid investments with a maturity of three months or less from the date of purchase that are readily convertible into cash to be cash equivalents. MARKETABLE SECURITIES The Company’s securities are classified as available-for-sale and, as such, are carried at fair value. Securities classified as available-for-sale may be sold in response to changes in interest rates, liquidity needs, and for other purposes. Each investment in marketable securities typically represents less than twenty percent (20%) of the outstanding common stock and stock equivalents of the investee, and each security is quoted on a national exchange or on the OTC Markets. As such, each investment is accounted for in accordance with the provisions of ASC 320 (previously SFAS No. 115). Unrealized holding gains and losses for available-for-sale securities are excluded from earnings and reported as a separate component of stockholder’s equity. Realized gains and losses for securities classified as available-for-sale are reported in earnings based upon the adjusted cost of the specific security sold. On June 30, 2018 and 2017 the marketable securities have been recorded at $1,100,483 and $502,696, respectively based upon the fair value of the marketable securities at that time. ACCOUNTS RECEIVABLE Management reviews the composition of accounts receivable and analyzes historical bad debts. As of June 30, 2018, the Company had $432,000 in accounts receivable. IMPAIRMENT OF LONG-LIVED ASSETS Effective January 1, 2002, the Company adopted ASC 350 (Previously SFAS 144, “Accounting for the Impairment or Disposal of Long-Lived Assets”), which addresses financial accounting and reporting for the impairment or disposal of long-lived assets and supersedes SFAS No. 121, “Accounting for the Impairment of Long-Lived Assets and for Long-Lived Assets to be Disposed Of,” and the accounting and reporting provisions of APB Opinion No. 30, “Reporting the Results of Operations for a Disposal of a Segment of a Business.” The Company periodically evaluates the carrying value of long-lived assets to be held and used in accordance with ASC 350. ASC 350 requires impairment losses to be recorded on long-lived assets used in operations when indicators of impairment are present and the undiscounted cash flows estimated to be generated by those assets are less than the assets’ carrying amounts. In that event, a loss is recognized based on the amount by which the carrying amount exceeds the fair market value of the long-lived assets. Loss on long-lived assets to be disposed of is determined in a similar manner, except that fair market values are reduced for the cost of disposal. PROPERTY AND EQUIPMENT Property and equipment are stated at cost. Maintenance and repair costs are charged to expense as incurred; costs of major additions and betterments are capitalized. When property and equipment are sold or otherwise disposed of, the cost and related accumulated depreciation are eliminated from the accounts and any resulting gain or loss is reflected in income. Depreciation is computed using the straight-line method over the estimated useful lives of the assets, ranging from three to ten years. DEPRECIATION AND AMORTIZATION The cost of property and equipment is depreciated over the estimated useful lives of the related assets. Depreciation and amortization of fixed assets are computed on a straight-line basis. NET EARNINGS (LOSS) PER SHARE The Company adopted the provisions of ASC 260 (previously SFAS 128). ASC 260 eliminates the presentation of primary and fully diluted earnings per share (“EPS”) and requires presentation of basic and diluted EPS. Basic EPS is computed by dividing income (loss) available to common stockholders by the weighted-average number of common shares outstanding for the period. Diluted EPS is based on the weighted-average number of shares of common stock outstanding for the period and common stock equivalents outstanding at the end of the period. The net earnings (loss) per share is computed as follows: 2018 2017 Basic and diluted net loss per share: Numerator: Net income (loss) $ (2,026,320 ) $ (1,560,718 ) Denominator: Basic weighted average number of common shares outstanding 72,797,797 15,553,354 Basic net income (loss) per share $ (0.03 ) $ (0.10 ) Diluted weighted average number of common shares outstanding 72,797,797 15,553,354 Diluted net income (loss) per share $ (0.03 ) $ (0.10 ) STOCK-BASED COMPENSATION Effective July 1, 2006, the Company adopted ASC 718-10-25 (previously SFAS 123R) and accordingly has adopted the modified prospective application method. Under this method, ASC 718-10-25 is applied to new awards and to awards modified, repurchased, or cancelled after the effective date. Additionally, compensation cost for the portion of awards that are outstanding as of the date of adoption for which the requisite service has not been rendered (such as unvested options) is recognized over a period of time as the remaining requisite services are rendered. FAIR VALUE OF FINANCIAL INSTRUMENTS Fair Value - Definition and Hierarchy Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Assets and liabilities measured at fair value are categorized based on whether or not the inputs are observable in the market and the degree that the inputs are observable. The categorization of financial assets and liabilities within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. A fair value hierarchy for inputs is used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs are to be used when available. Valuation techniques that are consistent with the market or income approach are used to measure fair value. The fair value hierarchy is categorized into three levels based on the inputs as follows: Level Level Level 3 Fair value is a market-based measure, based on assumptions of prices and inputs considered from the perspective of a market participant that are current as of the measurement date, rather than an entity-specific measure. Therefore, even when market assumptions are not readily available, the Company’s own assumptions are set to reflect those that market participants would use in pricing the asset or liability at the measurement date. The availability of valuation techniques and observable inputs can vary from investment to investment and are affected by a wide variety of factors, including; type of investment, whether the investment is new and not yet established in the marketplace, the liquidity of markets, and other characteristics particular to the transaction. To the extent that valuation is based upon models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Because of the inherent uncertainty of valuation, those estimated values may be materially higher or lower than the values that would have been used had a ready market for the investments existed. Accordingly, the degree of judgment exercised by the Fund in determining fair value is greatest for investments categorized in Level 3. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, the level in the fair value hierarchy in which the fair value measurement falls in its entirety is determined based upon the lowest level input that is significant to the fair value measurement. Fair Value - Valuation Techniques and Inputs The Company holds and may invest public securities traded on public exchanges or over-the-counter (OTC), private securities, real estate, convertible securities, interest bearing securities and other types of securities and has adopted specific techniques for their respective valuations. Equity Securities in Public Companies Unrestricted The Company values investments in securities that are freely tradable and listed on major securities exchanges at their last reported sales price as of the valuation date. To the extent these securities are actively traded and valuation adjustments are not applied, they are categorized in Level 1 of the fair value hierarchy. Securities traded on inactive markets or valued by reference to similar instruments are generally categorized in Level 2 or 3 of the fair value hierarchy. Restricted Securities traded on public exchanges or over-the-counter (OTC) where there are formal restrictions that limit (i.e. Rule 144 holding periods and underwriter’s lock-ups) their sale shall be valued at the closing price on the date of valuation less applicable discounts. The Company may apply a discount to securities with Rule 144 restrictions. Additional discounts may be assessed if the Company believes there are other mitigating factors which warrant the additional discounting. When determining potential additional discounts, factors that will be taken into consideration include, but are not limited to; securities’ trading characteristics, volume, length and overall impact of the restriction as well as other macro-economic factors. Valuations should be discounted appropriately until the securities may be freely traded. If it has been determined that the exchange or OTC listed price does not accurately reflect fair market value, the Company may elect to treat the security as a private company and apply an alternative valuation method. Investments in restricted securities of public companies may be included in Level 2 of the fair value hierarchy. However, to the extent that significant inputs used to determine liquidity discounts are not observable, investments in restricted securities in public companies may be categorized in Level 3 of the fair value hierarchy. The Company’s financial instruments primarily consist of cash and cash equivalents, accounts receivable, marketable securities, short-term notes payable, convertible notes, derivative liability and accounts payable. As of the balance sheet dates, the estimated fair values of the financial instruments were not materially different from their carrying values as presented on the balance sheet. This is primarily attributed to the short maturities of these instruments. Effective July 1, 2008, the Company adopted ASC 820 (previously SFAS 157), Fair Value Measurements Assets measured at fair value on a recurring basis are summarized below. The Company also has convertible notes and derivative liabilities as disclosed in this report that are measured at fair value on a regular basis until paid off or exercised. The Company uses various approaches to measure fair value of available-for-sale securities, while applying the three-level valuation hierarchy for disclosures, specified in ASC 820. Our Level 1 securities were measured using the quoted prices in active markets for identical assets and liabilities. The company’s policy regarding the transfers in and/or out of Level 3 depends on the trading activity of the security, the volatility of the security, and other observable units which clearly represents the fair value of the security. If a level 3 security can be measured using a more fairly represented fair value, we will transfer these securities either into Level 1 or Level 2, depending on the type of inputs. REVENUE RECOGNITION STANDARDS ASC 606-10 provides the following overview of how revenue is recognized from an entity’s contracts with customers: An entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Step 1: Identify the contract(s) with a customer. Step 2: Identify the performance obligations in the contract. Step 3: Determine the transaction price – The transaction price is the amount of consideration in a contract to which an entity expects to be entitled in exchange for transferring promised goods or services to a customer. Step 4: Allocate the transaction price to the performance obligations in the contract – Any entity typically allocates the transaction price to each performance obligation on the basis of the relative standalone selling prices of each distinct good or service promised in the contract. Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation – An entity recognizes revenue when (or as) it satisfies a performance obligation by transferring a promised good or service to a customer (which is when the customer obtains control of that good or service). The amount of revenue recognized is the amount allocated to the satisfied performance obligation. A performance obligation may be satisfied at a point in time (typically for promises to transfer goods to a customer) or over time (typically for promises to transfer service to a customer). For performance obligations satisfied over time, an entity recognizes revenue over time by selecting an appropriate method for measuring the entity’s progress toward complete satisfaction of that performance obligation. (Paragraphs 606-10 25-23 through 25-30). In addition, ASC 606-10 contains guidance on the disclosures related to revenue, and notes the following: It also includes a cohesive set of disclosure requirements that would result in an entity providing users of financial statements with comprehensive information about the nature, amount, timing, and uncertainty of revenue and cash flows arising from the entity’s contracts with customers. Specifically, Section 606-10-50 requires an entity to provide information about: - Revenue recognized from contracts with customers, including disaggregation of revenue into appropriate categories. - Contract balances, including the opening and closing balances of receivables, contract assets, and contract liabilities. - Performance obligations, including when the entity typically satisfies its performance obligations and the transaction prices is that is allocated to the remaining performance obligations in a contract. - Significant judgments, and changes in judgments, made in applying the requirements to those contracts. Additionally, Section 340-40-50 requires an entity to provide quantitative and/or qualitative information about assets recognized from the costs to obtain or fulfill a contract with a customer. The Company’s revenue recognition policies are in compliance with ASC 606-10. The Company recognizes consulting and advisory fee revenues in accordance with the above-mentioned guidelines and expenses are recognized in the period in which the corresponding liability is incurred. ADVERTISING The Company expenses advertising costs as incurred. Advertising costs for the years ended June 30, 2018 and 2017 were $36,221 and $31,413, respectively. The increase in advertising expenses in the current year is primarily due to an increase of $4,808 in investor relations expenses during the fiscal year ended June 30, 2018, as compared to the previous fiscal year. COMPREHENSIVE INCOME (LOSS) ASC 220-10-45 (previously SFAS 130, Reporting Comprehensive Income) establishes standards for reporting and display of comprehensive income, its components and accumulated balances. Comprehensive income is defined to include all changes in equity, except those resulting from investments by owners and distributions to owners. Among other disclosures, SFAS No. 130 requires that all items that are required to be recognized under current accounting standards as components of comprehensive income be reported in a financial statement that is displayed with the same prominence as other financial statements. As of June 30, 2018 and 2017, respectively, accumulated other comprehensive incomes of $751,962 and $153,474 are presented on the accompanying consolidated balance sheets. INCOME TAXES The Company accounts for income taxes in accordance with ASC 740 (previously SFAS No. 109, “Accounting for Income Taxes”). Deferred taxes are provided on the liability method whereby deferred tax assets are recognized for deductible temporary differences, and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax bases. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. REPORTING OF SEGMENTS ASC 280 (previously Statement of Financial Accounting Standards No. 131, Disclosures about Segments of an Enterprise and Related Information), which supersedes Statement of Financial Accounting Standards No. 14, Financial Reporting for Segments of a Business Enterprise, establishes standards for the way that public enterprises report information about operating segments in annual financial statements and requires reporting of selected information about operating segments in interim financial statements regarding products and services, geographic areas and major customers. ASC 280 defines operating segments as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing performance. The Company operated in two segments that generated revenues during the year ended June 30, 2018 and one segment in the year ended June 30, 2017. RISKS AND UNCERTAINTIES In the normal course of business, the Company is subject to certain risks and uncertainties. The Company provides its service and receives marketable securities upon execution of transactions. Consequently, the value of the securities received from customers can be affected by economic fluctuations and each customer’s business growth. The actual realized value of these securities could be significantly different than recorded value. RECENT ACCOUNTING PRONOUNCEMENTS Update No. 2018-13 – August 2018 Fair Value Measurement (Topic 820): Changes to the Disclosure Requirements for Fair Value Measurement Modifications: The following disclosure requirements were modified in Topic 820: 1. In lieu of a rollforward for Level 3 fair value measurements, a nonpublic entity is required to disclose transfers into and out of Level 3 of the fair value hierarchy and purchases and issues of Level 3 assets and liabilities. 2. For investments in certain entities that calculate net asset value, an entity is required to disclose the timing of liquidation of an investee’s assets and the date when restrictions from redemption might lapse only if the investee has communicated the timing to the entity or announced the timing publicly. 3. The amendments clarify that the measurement uncertainty disclosure is to communicate information about the uncertainty in measurement as of the reporting date. Additions: The following disclosure requirements were added to Topic 820; however, the disclosures are not required for nonpublic entities: 1. The changes in unrealized gains and losses for the period included in other comprehensive income for recurring Level 3 fair value measurements held at the end of the reporting period. 2. The range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements. For certain unobservable inputs, an entity may disclose other quantitative information (such as the median or arithmetic average) in lieu of the weighted average if the entity determines that other quantitative information would be a more reasonable and rational method to reflect the distribution of unobservable inputs used to develop Level 3 fair value measurements. The amendments in this Update are effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. Update No. 2018-07 – June 2018 Compensation – Stock Compensation (Topic 718) Improvements to Nonemployee Share-Based Payment Accounting Main Provisions: The amendments in this Update expand the scope of Topic 718 to include sharebased 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. T h e Co mp a n y h as e i t h e r eva l ua t e d o r i s c u rr e n t l y eva luat i n g th e im p licat io n s , i f a n y, o f eac h o f these p ro n o unc e m e n t s a nd th e p oss ibl e impac t th ey m ay h ave o n t h e Co m pa n y ’ s f i n a n c i al s t a t e m e nt s . In m os t ca ses, m a n age m e nt h as d e t e rmin e d t h a t t h e i mpl e m e nt a ti o n of these pronouncements wo uld n ot h ave a m a t er i al imp ac t o n t h e financi a l s t a te m e nt s t a k e n as a w h o l e. |
Loans Receivable
Loans Receivable | 12 Months Ended |
Jun. 30, 2018 | |
Receivables [Abstract] | |
Loans Receivable | NOTE 3 Loans receivable consist of the following at June 30, 2018 and 2017: Loans Receivable June 30, 2018 June 30, 2017 Loan to American Laser Healthcare, Inc. $ 1,605 $ - Total $ 1,605 $ - |
Other Assets
Other Assets | 12 Months Ended |
Jun. 30, 2018 | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | |
Other Assets | NOTE 4 The Other Assets comprise of the following as of June 30, 2018 and 2017: 2018 2017 Investments $ 25,005,000 $ - Contract Assets $ 697,841 $ - Total Other Assets $ 27,424,139 $ - Investments consist of a $5,000 investment in AQuarius Power, Inc., a renewable energy technology company, and a 51% ownership in twenty-one mining claims over an area of approximately 400 acres in Granite Mining District, Grant County, Oregon, U.S.A., acquired by American Pacific Resources, Inc., a subsidiary of the Company, in exchange for a total purchase price of twenty-five million U.S. Dollars ($US 25,000,000) paid in a combination of cash, convertible demand promissory note and PHI Group, Inc.’s Class A Series II Convertible Cumulative Redeemable Preferred Stock. Contract assets consist of a balance of $697,841 from an agreement dated March 27, 2018 with a client for the total amount of $2,000,000, of which $1,212,159 was received and recognized as revenue during the fiscal year ended June 30, 2018. |
Marketable Equity Securities Av
Marketable Equity Securities Available for Sale | 12 Months Ended |
Jun. 30, 2018 | |
Investments, Debt and Equity Securities [Abstract] | |
Marketable Equity Securities Available for Sale | NOTE 5 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. Each investment in marketable securities represents less than twenty percent (20%) of the outstanding common stock and stock equivalents of the investee, and each security is nationally quoted on the National Association of Securities Dealers OTC Bulletin Board (“OTCBB”) or the OTC Markets. As such, each investment is accounted for in accordance with the provisions of SFAS No. 115. Marketable securities owned by the Company and classified as available for sale as of June 30, 2018 consisted of 33,805,106 shares of Myson Group, Inc. (formerly Vanguard Mining Corporation) and 292,050,000 shares of Sports Pouch Beverage Company, both public companies traded on the a public company traded on the OTC Markets (Trading symbols MYSN and SPBV, respectively). The fair value of the marketable securities recorded as of June 30, 2018 was $1,100,483. Securities available for sale Level 1 Level 2 Level 3 Total June 30, 2018 - $ 253,538 $ 846,945 $ 1,100,483 June 30, 2017 $ - $ 210,646 $ 292,050 $ 502,696 During the fiscal year ended June 30, 2018, there was no transfer of securities from level 3 to level 2. |
Property and Equipment
Property and Equipment | 12 Months Ended |
Jun. 30, 2018 | |
Property, Plant and Equipment [Abstract] | |
Property and Equipment | NOTE 6 During the fiscal year ended June 30, 2017, the Company sold ten acres of land, Parcel Identification Numbers 09705010180 & 190, in Suwannee County, Florida. As of June 30, 2018 the Company did not have any property or equipment, except 51% ownership in twenty-one mining claims over an area of approximately 400 acres in Granite Mining District, Grant County, Oregon, U.S.A. owned by American Pacific Resources, Inc., a subsidiary of the Company’s. |
Discontinued Operations
Discontinued Operations | 12 Months Ended |
Jun. 30, 2018 | |
Discontinued Operations and Disposal Groups [Abstract] | |
Discontinued Operations | NOTE 7 As of June 30, 2012, the Company recognized the businesses of PHI Gold Corp. (formerly PHI Mining Corporation), Providential Vietnam Ltd., PHI Energy Corp., and Philand Ranch Ltd., a United Kingdom corporation, together with its wholly-owned subsidiaries Philand Corporation (USA), Philand Ranch Ltd. (Singapore) and Philand Vietnam Ltd. as discontinued operations for practical business and accounting purposes. As of June 30, 2018, the Company had a balance of $1,255,037 as Long-term Liabilities from Discontinued Operations, consisting of $954,337 from Philand Ranch Ltd., $215,000 from preferred stock of Providential Holdings, Inc., a former subsidiary of the Company, and $85,700 in contingency liabilities. |
Current Liabilities
Current Liabilities | 12 Months Ended |
Jun. 30, 2018 | |
Payables and Accruals [Abstract] | |
Current Liabilities | NOTE 8 Current liabilities of the Company consist of the followings as of June 30, 2018 and 2017: June 30, 2018 June 30, 2017 Accounts payable $ 116,063 $ 159,875 Accrued expenses $ 392,205 $ 384,929 Short-term notes payable $ 1,336,552 $ 873,008 Due to officers $ 233,577 $ 592,141 Other current payable $ 92,781 - Contract liabilities $ 697,841 - Client deposit $ - $ 780 Derivative liabilities $ 738,814 $ 545,756 CURRENT ACCRUED EXPENSES Current accrued expenses consist of $238,165 in accrued salaries and payroll tax liabilities, $149,359 in accrued interest from short-term notes, and $4,681 in dividends payable from Class A Series II Preferred Stock. Contract liabilities consist of a balance of $697,841 as a result of an agreement dated March 27, 2018 with a client for the total amount of $2,000,000, of which $1,212,159 was recognized as revenue and thus reducing the original contract liabilities by that same amount during the fiscal year ended June 30, 2018. |
Long-Term Liabilities
Long-Term Liabilities | 12 Months Ended |
Jun. 30, 2018 | |
Debt Disclosure [Abstract] | |
Long-Term Liabilities | NOTE 9 As of June 30, 2018 and 2017, Long-term liabilities consist of: June 30, 2018 June 30, 2017 Accrued Expenses: $ 1,063,481 $ 1,462,836 Accrued Interest: $ 2,005,815 $ 2,715,963 Advances from Customers: $ 288,219 $ 288,219 Demand Promissory Note: $ 24,048,500 - Liabilities from Discontinued Operations: $ 1,040,037 $ 1,040,037 Preferred Stock Liabilities from Discontinued Operations: $ 215,000 $ 215,000 LONG-TERM ACCRUED EXPENSES Long-term accrued expenses consist of accrued salaries and payroll taxes of $698,653; accrued legal fees of $172,091; consulting fees of $165,850; and other accrued expenses of $26,888. ACCRUED INTEREST EXPENSES Long-term accrued interest expenses consist of accrued interest from notes payable in the amount of $2,005,815. ADVANCES FROM CUSTOMERS The Company recorded $288,219 as Advances from Customers to reserve for consulting fees previously received from a client while the Company was not able to complete the consulting services due to the client’s inability to provide GAAP-compliant audited financial statements in order to file a registration statement with the Securities and Exchange Commission. DEMAND PROMISSORY NOTE The Company issued a Demand Promissory Note in the amount of $24,310,400 to Rush Gold Royalty, Inc., a Wyoming corporation, in connection with the acquisition of a 51% ownership in twenty-one mining claims over an area of approximately 400 acres in Granite Mining District, Grant County, Oregon, U.S.A by American Pacific Resources, Inc., a subsidiary of the Company. As of June 30, 2018, the balance of the convertible demand promissory note was $24,048,500. LIABILTIES FROM DISCONTINUED OPERATIONS As of June 30, 2012, the Company recognized the businesses of PHI Gold Corp. (formerly PHI Mining Corporation), Providential Vietnam Ltd., PHI Energy Corp., and Philand Ranch Ltd., a United Kingdom corporation, together with its wholly-owned subsidiaries Philand Corporation (USA), Philand Ranch Ltd. (Singapore) and Philand Vietnam Ltd. as discontinued operations for practical business and accounting purposes. As of June 30, 2018, the Company carried balance of $ 1,040,037 as Long-term Liabilities for these discontinued operations. PREFERRED STOCK LIABILITIES FROM DISCONTINUED OPERATIONS As of June 30, 2017, the Company re-classified $215,000 as Long-term Liabilities payable to holders of preferred stock of Providential Securities, Inc., a previous subsidiary of the Company that was discontinued in the year 2000. In the early 2000’s, the Company had made an offer for these preferred stockholders to receive shares of common stock in the Company in exchange for the preferred shares in the discontinued subsidiary but only a small number of the preferred shareholders responded and accepted the offer. In more recent years, the Company has also attempted to contact these preferred shareholders from time to time but have not received further response from them. The Company has recorded the amount of $215,000 as Long-term Liability. |
Due to Officers And Directors
Due to Officers And Directors | 12 Months Ended |
Jun. 30, 2018 | |
Related Party Transactions [Abstract] | |
Due to Officers and Directors | NOTE 10 Due to officer, represents loans and advances made by officers and directors of the Company and its subsidiaries, unsecured and due on demand. As of June 30, 2018 and 2017, the balances were $233,577 and $592,141, respectively. Officers/Directors June 30, 2018 June 30, 2017 Henry Fahman 157,727 511,291 Tam Bui 63,350 63,350 Frank Hawkins - 5,000 Lawrence Olson 12,500 12,500 Total $ 233,577 $ 592,141 |
Loans and Promissory Notes
Loans and Promissory Notes | 12 Months Ended |
Jun. 30, 2018 | |
Debt Disclosure [Abstract] | |
Loans and Promissory Notes | NOTE 11 SHORT TERM NOTES PAYABLE: In the course of its business, the Company has obtained short-term loans from individuals and institutional investors and from time to time raised money by issuing restricted common stock of the Company under the auspices of Rule 144. As of June 30, 2018, the Company had $803,310 in short-term notes payable with $2,133,947 accrued and unpaid interest. These notes bear interest rates ranging from 0% to 36% per annum. CONVERTIBLE PROMISSORY NOTES: During the fiscal year ended June 30, 2018, the Company issued the following convertible promissory notes to various private investment funds: On July 20, 2017, the Company issued a new convertible promissory note to Power Up Lending Group for $28,000, with an interest rate of 8% and convertible to Common Stock of the Company at 42% discount. On January 18, 2018, the Company paid a total of $43,610.96 to Power Up Lending Group, which amount included the principal, prepayment premium and accrued interest. This note was paid off in full as of January 18, 2018. On August 3, 2017, the Company issued a new convertible promissory note to JSJ Investments, Inc. for $78,750, with an interest rate of 10% and convertible to Common Stock of the Company at 45% discount. On January 30, 2018, the Company paid a total of $117,984.76 to JSJ Investments, Inc., which amount included the principal amount of $78,750, prepayment premium of $35,437.50 and accrued and unpaid interest of $3,797.26. This note was paid off in full as of January 30, 2018. On August 15, 2017, the Company issued a new convertible promissory note to Power Up Lending Group for $33,000, with an interest rate of 10% and convertible to Common Stock of the Company at 42% discount. On February 5, 2018, the Company paid a total of $51,300.99 to Power Up Lending Group, which amount included the principal, prepayment premium and accrued interest. This note was paid off in full as of February 5, 2018. On August 24, 2017, the Company issued a new convertible promissory note to LG Capital for $78,750, with an interest rate of 8% and convertible to Common Stock of the Company at 50% discount. On February 20, 2018, the Company paid a total of $122,655.82 to LG Capital, which amount included the principal, prepayment premium and accrued interest. This note was paid off in full as of February 20, 2018. On October 18, 2017, the Company issued a new convertible promissory note to Power Up Lending Group for $53,000, with an interest rate of 8% and convertible to Common Stock of the Company at 42% discount to the average of the two lowest trading prices or closing bids during the ten trading days immediately prior to the date of conversion. The maturity date of this note is 7/20/2018. On April 17, 2018, the Company made a payment in the amount of $25,000.00, consisting of $16,666.67 of principal and $8,333.33 of prepayment premium, to Power Up Lending Group. The principal balance due remaining under this Note after this payment was $36,333.33. On April 19, 2018, the Company issued 1,169,591 shares of free-trading Common Stock of PHI Group, Inc. to Power Up Lending Group for the conversion of $20,000.00 of the principal amount of the Note. The principal amount of the Note remaining after this conversion was $16,333.33. On April 23, 2018, the Company issued 1,127,820 shares of free-trading Common Stock of PHI Group, Inc. to Power Up Lending Group for the conversion of $15,000.00 of the principal amount of the Note. The principal amount of the Note remaining after this conversion was $1,333.33. On April 24, 2018, the Company issued 295,156 shares of free-trading Common Stock of PHI Group, Inc. to Power Up Lending for the conversion of $1,333,33 of the principal amount of the Note together with $2,120 of accrued and unpaid interest thereto, totaling $3,453.33. The principal amount of the Note remaining after this conversion was $0.00. On October 26, 2017, the Company issued a new convertible promissory note to Crown Bridge Partners, LLC for $35,000, with an interest rate of 5% and convertible to Common Stock of the Company at 50% discount to the average of the two lowest trading prices or closing bids during the twenty trading days immediately prior to the date of conversion. The maturity date of this note is 10/26/2018. In connection with this note, the Company issued 87,500 warrants to Crown Bridge Partners, LLC for the purchase of Common Stock of the Company at the exercise price of $0.40 per share. The exercise period commences on the issuance date and ends on the one-year anniversary thereof. On May 29, 2018, the Company issued 3,159,521 shares of free-trading Common Stock of PHI Group, Inc. to Crown Bridge Partners for the conversion of the principal, $992.47 of accrued interest and $500.00 of fees under the Note, totaling $36,492.47. The principal balance due remaining under this Note after this conversion was $0.00. On November 24, 2017, the Company issued a new convertible promissory note to Einstein Investments LLC for $115,500, with an interest rate of 10% and convertible to Common Stock of the Company at 50% discount to the average of the two lowest trading prices or closing bids during the ten trading days immediately prior to the date of conversion. The maturity date of this note is 10/26/2018. On June 04, 2018, the Company issued 3,149,607 shares of free-trading Common Stock of PHI Group, Inc. to Einstein Investments, LLC for the conversion of $44,050.96 principal amount together with $5,949.04 accrued interest under the Note, totaling $50,000. The principal balance due remaining under this Note after this conversion was $71,449.04. On January 18, 2018, the Company issued a new convertible promissory note to JSJ Investments, Inc. for $78,750, with an interest rate of 10% and convertible to Common Stock of the Company at 45% discount to the average of the three lowest trading prices or closing bids during the twenty trading days immediately prior to the date of conversion. The maturity date of this note is 01/18/2019. On January 18, 2018, the Company issued a new convertible promissory note to Power Up Lending Group for $33,000, with an interest rate of 8% and convertible to Common Stock of the Company at 42% discount to the average of the two lowest trading prices or closing bids during the ten trading days immediately prior to the date of conversion. The maturity date of this note is 10/10/2018. On January 26, 2018, the Company issued a new convertible promissory note to Power Up Lending Group for $33,000, with an interest rate of 8% and convertible to Common Stock of the Company at 42% discount to the average of the two lowest trading prices or closing bids during the ten trading days immediately prior to the date of conversion. The maturity date of this note is 11/15/2018. On January 31, 2018, the Company issued a new convertible promissory note to JSJ Investments, Inc. for $78,750, with an interest rate of 10% and convertible to Common Stock of the Company at 45% discount to the average of the three lowest trading prices or closing bids during the twenty trading days immediately prior to the date of conversion. The maturity date of this note is 01/18/2019. On January 31, 2018, the Company issued a new convertible promissory note to Crown Bridge Partners, LLC for $50,000, with an interest rate of 5% and convertible to Common Stock of the Company at 50% discount to the average of the two lowest trading prices or closing bids during the twenty trading days immediately prior to the date of conversion. The maturity date of this note is 01/31/2019. On February 01, 2018, the Company issued a new convertible promissory note to Adar Bays for $60,000, with an interest rate of 6% and convertible to Common Stock of the Company at 50% discount to the average of the two lowest trading prices during the twenty five trading days immediately prior to the date of conversion. The maturity date of this note is 02/01/2019. On February 02, 2018, the Company issued a new convertible promissory note to Auctus Fund LLC for $75,000, with an interest rate of 12% and convertible to Common Stock of the Company at 50% discount to the average of the two lowest trading prices during the twenty five trading days immediately prior to the date of conversion. The maturity date of this note is 11/02/2018. On February 22, 2018, the Company issued a new convertible promissory note to Power Up Lending Group for $33,000, with an interest rate of 8% and convertible to Common Stock of the Company at 42% discount to the average of the two lowest trading prices or closing bids during the ten trading days immediately prior to the date of conversion. The maturity date of this note is 11/30/2018. On March 21, 2018, the Company issued a new convertible promissory note to JSJ Investments, Inc. for $78,750, with an interest rate of 10% and convertible to Common Stock of the Company at 45% discount to the average of the three lowest trading prices or closing bids during the twenty trading days immediately prior to the date of conversion. The maturity date of this note is 03/21/2019. On April 2, 2018, the Company issued a new convertible promissory note to Crown Bridge Partners, LLC for $55,000, with an interest rate of 10% and convertible to Common Stock of the Company at 50% discount to the average of the two lowest trading prices or closing bids during the twenty trading days immediately prior to the date of conversion. The maturity date of this note is 04/02/2019. On April 10, 2018, the Company issued a new convertible promissory note to Power Up Lending Group for $33,000, with an interest rate of 8% and convertible to Common Stock of the Company at 42% discount to the average of the two lowest trading prices or closing bids during the ten trading days immediately prior to the date of conversion. The maturity date of this note is 01/30/2019. On June 12, 2018, the Company issued a new convertible promissory note to Crown Bridge Partners, LLC for $55,000, with an interest rate of 10% and convertible to Common Stock of the Company at 50% discount to the average of the two lowest trading prices or closing bids during the twenty trading days immediately prior to the date of conversion. The maturity date of this note is 06/12/2019. On June 25, 2018, the Company issued a new convertible promissory note to JSJ Investments, Inc. for $100,000, with an interest rate of 10% and convertible to Common Stock of the Company at 45% discount to the average of the three lowest trading prices or closing bids during the twenty trading days immediately prior to the date of conversion. The maturity date of this note is 06/25/2019. As of June 30, 2018, the principal balance of the outstanding convertible notes was $834,699, with a total discount of $301,457, accrued interest of $21,227 and total derivative liabilities of $738,814. The Company relies on professional third-party valuation to record the value of derivative liabilities, discounts, and changes in fair value of derivatives in connection with these convertible notes and warrants, if any, that are related to the convertible notes. The Company intends to repay these notes in cash as much as practical. |
Litigation
Litigation | 12 Months Ended |
Jun. 30, 2018 | |
Commitments and Contingencies Disclosure [Abstract] | |
Litigation | NOTE 12 LEGAL PROCEEDING SETTLED AND UNPAID AS OF JUNE 30, 2018: QUANG VAN CAO AND NHAN THI NGUYEN CAO VS. PROVIDENTIAL SECURITIES, INC. ET AL. This case was originally submitted to Orange County Superior Court, CA on June 25, 1997, Case No. 781121, and subsequently moved to NASD Dispute resolution for arbitration. On or about August 24, 2000, the Company’s legal counsel negotiated with the Claimant’s counsel and unilaterally reached a settlement that had not been approved by the Company. While the Company was in the process of re-negotiating the terms of said settlement, the Claimants filed a request for arbitration hearing before the National Association of Securities Dealers on October 4, 2000, Case No. 99-03160. Thereafter, the Claimants filed a complaint with the Orange County Superior Court, CA on October 31, 2000, Case No. 00CC13067 for alleged breach of contract for damages in the sum of $75,000 plus pre-judgment interest, costs incurred in connection with the complaint, and other relief. Without admitting or denying any allegations, the Company reached a settlement agreement with the Claimants whereby the Company would pay the Claimants a total of $62,500 plus $4,500 in administrative costs. As the date of this report, the Company has paid $2,500 and is subject to an entry of judgment for $79,000. In May 2011, the Claimants filed an application for and renewal of judgment for a total of $140,490.78. As of June 30, 2018 the Company accrued $172,091 for potential liabilities in connection with this case in the accompanying consolidated financial statements. WILLIAM DAVIDSON VS. DOAN ET AL. On or about February 01, 2010, the company was notified of a suit that was filed with the Superior Court of the State of California for the County of Los Angeles on November 24, 2009 by William Davidson, an individual against Martin Doan, Henry Fahman, Benjamin Tran, HRCiti Corporation, and Providential Capital, Inc. (collectively referred to as “Defendants” - Case No. BC 426831). Plaintiff demanded an amount of not less than $140,000.00 from Defendants for promissory notes outstanding between Plaintiff and the company. On July 09, 2012 William Davidson and PHI Capital Holdings, Inc. (formerly Providential Capital, Inc.), a subsidiary of the Company, reached a settlement agreement with respect to whereby PHI Capital agreed to pay William Davidson a total of $200,000 over a period of nineteen months beginning September 1, 2012. Since November 30, 2012, William Davidson has converted portions of the total amount into common stock of PHI Group, Inc. in lieu of cash payment. The Company has accrued $90,000 as the required liability associated with the balance of these notes in the accompanying consolidated financial statements as of June 30, 2018. |
Payroll Tax Liabilities
Payroll Tax Liabilities | 12 Months Ended |
Jun. 30, 2018 | |
Payroll Tax Liabilities | |
Payroll Tax Liabilities | NOTE 13 The payroll liabilities are accrued and recorded as accrued expenses in the consolidated balance sheet. During the fiscal year ended June 30, 2014, the Company paid $41,974.22 to the Internal Revenue Service and $ 19,289.94 to the State of California Employment Development Department towards the balance of $118,399 of payroll tax, penalties and interest claimed by these agencies. The Company has not resolved the remaining balances with the Internal Revenue Service and the State of California Employment Department as of June 30, 2018. |
Basic and Diluted Net Loss Per
Basic and Diluted Net Loss Per Share | 12 Months Ended |
Jun. 30, 2018 | |
Earnings Per Share [Abstract] | |
Basic and Diluted Net Loss Per Share | NOTE 14 Net loss per share is calculated in accordance with SFAS No. 128, “Earnings per Share”. Under the provision of SFAS No. 128, basic net loss per share is computed by dividing the net loss for the period by the weighted-average number of common shares outstanding for the period. Diluted EPS is based on the weighted-average number of shares of common stock outstanding for the period and common stock equivalents outstanding at the end of the period. Basic and diluted weighted average numbers of shares for the year ended June 30, 2018 were the same since the inclusion of Common stock equivalents is anti-dilutive. |
Stockholder's Equity
Stockholder's Equity | 12 Months Ended |
Jun. 30, 2018 | |
Equity [Abstract] | |
Stockholder's Equity | NOTE 15 STOCKHOLDER’S EQUITY As of June 30, 2018, the total number of authorized capital stock of the Company was 2,000,000,000 shares with a par value of $0.001 per share, consisting of 1,900,000,000 shares of voting Common Stock with a par value of $0.001 per share and 100,000,000 shares of Preferred Stock with a par value of $0.001 per share. The rights and terms associated with the Preferred Stock will be determined by the Board of Directors of the Company. Treasury Stock The balance of treasury stock as of June 30, 2018 was 487,767 shares valued at $44,170 based on cost basis. Common Stock During the fiscal year ended June 30, 2018, the Company has issued the following amounts of its Common Stock: On July 05, 2017, the Company issued 740,741 shares of free-trading Common Stock of PHI Group, Inc. to Power Up Lending Group Ltd., holder of a Convertible Promissory Note dated 12/15/2016 of the Company, for the conversion of $10,000.00 of the principal amount of the Note, at the conversion price of $0.0135 per share. The principal amount of the Note after this conversion was $14,500.00. On July 11, 2017, the Company issued 800,000 shares of free-trading Common Stock of PHI Group, Inc. to Auctus Fund LLC, holder of a Convertible Promissory Note dated 8/16/2016 of the Company, for the conversion of $5,152.00, consisting of $3,485.17 principal amount of the Note and $1,666.83 of accrued and unpaid interest thereto, at the conversion price of $0.00644 per share. The principal amount of the Note after this conversion was $32,613.12. Subsequently, on July 24, 2017, the Company paid a total of $49,530.72 to Auctus Fund LLC, consisting of $32,613.12 principal amount and the balance in pre-payment premium and accrued and unpaid interest in connection with the Convertible Promissory Note dated 8/16/16. This note was paid in full and the principal balance due remaining and accrued and unpaid interest remaining after this payment was $0.00. On July 17, 2017, the Company issued 880,000 shares of free-trading Common Stock of PHI Group, Inc. to Power Up Lending Group Ltd., holder of a Convertible Promissory Note dated 12/15/2016 of the Company, for the conversion of $7,920.00 of the principal amount of the Note, at the conversion price of $0.009 per share. The principal amount of the Note after this conversion was $6,580. On July 21, 2017, the Company issued 1,019,872 shares of free-trading Common Stock of PHI Group, Inc. to Power Up Lending Group Ltd., holder of a Convertible Promissory Note dated 12/15/2016 of the Company, for the conversion of $7,955.00, consisting of $6,580 principal amount of the Note and $1,375.00 of accrued and unpaid interest thereto, at the conversion price of $0.0078 per share. The principal balance due remaining and accrued and unpaid interest remaining after this conversion was $0.00. On July 25, 2017, Henry Fahman, Chairman and Chief Executive Officer of the Company, converted $300,000 of indebtedness owed by the Company into 20,000,000 shares of restricted common stock of PHI Group, Inc. at the conversion price of $0.015 per share. The conversion into restricted common stock of the Company was effectuated pursuant to the resolutions of the Company’s Board of Directors dated March 12, 2012, June 06, 2012, and November 2, 2012 which remain in full force and effect, allowing creditors of the Company to convert any or all of their outstanding indebtedness and accrued and unpaid interest thereof into shares of common stock of PHI Group, Inc. by relying on the exemption from the registration requirements of the United States Securities Act of 1933, as amended (the “Act”). On July 25, 2017, the Company issued a total of 1,533,333 shares of restricted Common Stock of PHI Group, Inc. pursuant to Rule 144 to two non-US shareholders in connection with private stock purchase agreements dated July 19, 2017 and July 20, 2017, respectively, between these shareholders and the Company, for a total of $23,000.00, at the purchase price of $0.015 per share. On October 17, 2017, the Company issued 434,783 shares of free–trading Common Stock of PHI Group, Inc. to Power Up Lending Group Ltd., holder of a Convertible Promissory Note dated April 12, 2017 of the Company, for the conversion of $12,000.00 of the principal amount of the Note. On October 19, 2017, the Company issued 371,057 shares of free–trading Common Stock of PHI Group, Inc. to JSJ Investments, Inc., holder of a Convertible Promissory Note dated February 2, 2017 of the Company, for the conversion of $10,000.00 of the principal balance of the Note. On October 23, 2017, the Company issued 622,407 shares of free–trading Common Stock of PHI Group, Inc. to Power Up Lending Group Ltd., holder of a Convertible Promissory Note dated April 12, 2017 of the Company, for the conversion of $15,000.00 principal balance of the Note. On October 24, 2017, the Company issued 250,000 shares of free–trading Common Stock of PHI Group, Inc. to EMA Financial LLC., holder of a Convertible Promissory Note dated April 04, 2017 of the Company, for the conversion of $3,587.50 of the principal amount of the Note, less $750.00 of applicable fees under the Note. On October 31, 2017, the Company issued 419,212 shares of free–trading Common Stock of PHI Group, Inc. to Power Up Lending Group Ltd., holder of a Convertible Promissory Note dated April 12, 2017 of the Company, for the conversion of $6,500.00 of the remaining principal amount of the Note together with $2,010.00 of accrued and unpaid interest thereto, totaling $8,510.00. On November 7, 2017, the Company issued 600,000 shares of free–trading Common Stock of PHI Group, Inc. to EMA Financial LLC, holder of a Convertible Promissory Note dated April 04, 2017 of the Company, for the conversion of $3,750.00 of the principal balance of the Note, less $1,350.00 of applicable fees under the Note. On November 8, 2017, the Company issued 2,154,700 shares of free–trading Common Stock of PHI Group, Inc. to Auctus Fund, LLC, holder of a Convertible Promissory Note dated March 3, 2017 of the Company, for the conversion of $17,852.43 of the principal balance of the Note together with $3,356.17 of accrued and unpaid interest thereto and $500.00 applicable fee, totaling $21,708.60. On November 16, 2017, the Company issued 80,000 shares of restricted Common Stock of PHI Group, Inc. to Andreas Held, a current shareholder of the Company, for $1,920 in cash under the auspices of Rule 144 pursuant to a Private Stock Purchase Agreement dated November 14, 2017. On November 21, 2017, the Company issued 1,000,000 shares of free–trading Common Stock of PHI Group, Inc. to EMA Financial LLC, holder of a Convertible Promissory Note dated April 04, 2017 of the Company, for the conversion of $5,950.00 of the principal balance of the Note, less $1,050.00 of applicable fees under the Note. On December 01, 2017, the Company issued 2,346,000 shares of free–trading Common Stock of PHI Group, Inc. to Auctus Fund, LLC, holder of a Convertible Promissory Note dated March 3, 2017 of the Company, for the conversion of $15,062.55 of the principal balance of the Note together with $202.57 of accrued and unpaid interest thereto and $500.00 applicable fee, totaling $15,765.12. On December 05, 2017, the Company issued 1,385,677 shares of free–trading Common Stock of PHI Group, Inc. to JSJ Investments, Inc., holder of a Convertible Promissory Note dated February 2, 2017 of the Company, for the conversion of $11,000.00 of the principal balance of the Note together with $1,651.23 of accrued and unpaid interest thereto, totaling $12,651.23. On December 12, 2017, the Company issued 2,000,000 shares of free–trading Common Stock of PHI Group, Inc. to EMA Financial LLC, holder of a Convertible Promissory Note dated April 04, 2017 of the Company, for the conversion of $7,140.00 of the principal balance of the Note, less $1,050.00 of applicable fees under the Note. On December 13, 2017, the Company issued 2,250,821 shares of free–trading Common Stock of PHI Group, Inc. to JSJ Investments, Inc., holder of the $40,000 Convertible Promissory Note dated April 5, 2017 of the Company, for the conversion of $12,420.75 of the principal balance of the Note. On December 14, 2017, the Company issued 2,744,300 shares of free–trading Common Stock of PHI Group, Inc. to Auctus Fund, LLC, holder of a Convertible Promissory Note dated March 3, 2017 of the Company, for the conversion of $10,339.52 of the principal balance of the Note together with $137.68 of accrued and unpaid interest thereto and $500.00 applicable fee, totaling $10,977.20. On December 14, 2017, the Company issued 1,724,138 shares of restricted Common Stock of PHI Group, Inc. to Steve Truong for $20,000 in cash under the auspices of Rule 144 pursuant to a Private Stock Purchase Agreement dated December 14, 2017. On December 19, 2017, the Company issued 2,500,000 shares of free–trading Common Stock of PHI Group, Inc. to EMA Financial LLC, holder of a Convertible Promissory Note dated April 04, 2017 of the Company, for the conversion of $8,750.00 of the principal balance of the Note, less $1,050.00 of applicable fees under the Note. On December 20, 2017, the Company issued 2,913,837 shares of free–trading Common Stock of PHI Group, Inc. to JSJ Investments, Inc., holder of the $40,000 Convertible Promissory Note dated April 5, 2017 of the Company, for the conversion of $16,079.47 of the principal balance of the Note. On December 29, 2017, the Company issued 2,300,000 shares of free–trading Common Stock of PHI Group, Inc. to Crown Bridge Partners, LLC., holder of the $35,000.00 Convertible Promissory Note dated June 9, 2017 of the Company, for the conversion of $7,550.00 of the principal and $500.00 of fees under the Note totaling $8,050.00. On December 29, 2017, the Company issued 2,500,000 shares of free–trading Common Stock of PHI Group, Inc. to EMA Financial LLC, holder of a Convertible Promissory Note dated April 04, 2017 of the Company, for the conversion of $8,750.00 of the principal balance of the Note, less $1,050.00 of applicable fees under the Note. On January 08, 2018, the Company issued 1,835,795 shares of free-trading Common Stock of PHI Group, Inc. to Auctus Fund, LLC, holder of a Convertible Promissory Note dated March 03, 2017 of the Company, for the conversion of $6,745.50 of the principal balance of the Note, $97.68 of accrued and unpaid interest and $500.00 conversion fee under the Note totaling $7,343.18. The principal balance due remaining under this Note after this conversion was $0.00. On January 09, 2018, the Company issued 2,601,957 shares of free-trading Common Stock of PHI Group, Inc. to JSJ Investments, Inc., holder of a Convertible Promissory Note dated April 05, 2017 of the Company, for the conversion of $11,499.78 of the principal balance and accrued and unpaid interest of $2,858.64 totaling $14,358.42. The principal balance due remaining under this Note after this conversion was $0.00. On January 11, 2018, the Company issued 2,900,000 shares of free-trading Common Stock of PHI Group, Inc. to Crown Bridge Partners, LLC., holder of the $35,000.00 Convertible Promissory Note dated June 9, 2017 of the Company, for the conversion of $9,650.00 of the principal and $500.00 of fees under the Note totaling $10,150.00. The principal balance due remaining under this Note after this conversion was $17,800.00. On January 25, 2018, the Company issued 2,500,000 shares of free-trading Common Stock of PHI Group, Inc. to EMA Financial LLC, holder of a Convertible Promissory Note dated April 4, 2017 of the Company, for the conversion of $9,625.00 of the principal balance of the Note, less $1,050 of conversion fees under the Note. The principal balance due remaining under this Note after this conversion is $9,977.50 On January 29, 2018, the Company issued 3,812,188 shares of free-trading Common Stock of PHI Group, Inc. to EMA Financial LLC, holder of a Convertible Promissory Note dated April 4, 2017 of the Company, for the conversion of $9,975.50 of the principal balance of the Note, $3,649.43 of accrued and unpaid interest, and $1,050 for legal and transfer agent fees for conversion, totaling $14,467.93. This Note was paid off in full as of January 29, 2018; the principal balance due remaining under this Note after this conversion is $0.00. On January 29, 2018, the Company issued 2,500,000 shares of free-trading Common Stock of PHI Group, Inc. to Crown Bridge Partners, LLC., holder of the $35,000.00 Convertible Promissory Note dated June 9, 2017 of the Company, for the conversion of $9,562.50 of the principal and $500.00 of fees under the Note, totaling $10,062.50. The principal balance due remaining under this Note after this conversion was $8,237.50. On January 30, 2018, the Company issued 100,000 shares of PHI Group, Inc.’s restricted common stock to Andreas Held, a long-term shareholder of PHI Group, Inc.’s, for $981.00 in cash. On January 30, 2018, the Company issued 100,000 shares of PHI Group, Inc.’s restricted common stock to Cuong Tran, an independent consultant, for technical consulting service. On February 8, 2018, the Company issued 2,509,693 shares of free-trading Common Stock of PHI Group, Inc. to Crown Bridge Partners, LLC., holder of the $35,000.00 Convertible Promissory Note dated June 9, 2017 of the Company, for the conversion of $8,237.50 of principal, $1,012.66 of accrued interest, and $500.00 of fees under the Note, totaling $9,750.16. The principal balance due remaining under this Note after this conversion was $0.00. On February 8, 2018, Henry Fahman, the Company’s Chief Executive Officer and Chief Financial Officer, converted $150,000.00 of the accrued and unpaid salary for the fiscal year ended June 30, 2011 into 4,746,084 shares of Restricted Common Stock of PHI Group, Inc. at the effective price of $0.031605 per share, pursuant to the Company’s corporate resolutions dated November 2, 2012, which still remain in full force and effect. On February 8, 2018, Tina Phan, the Company’s Corporate Secretary and Treasurer, converted $60,000.00 of the accrued and unpaid salary for the fiscal year ended June 30, 2011 into 1,898,434 shares of Restricted Common Stock of PHI Group, Inc. at the effective price of $0.031605 per share, pursuant to the Company’s corporate resolutions dated November 2, 2012, which still remain in full force and effect. On February 28, 2018, the Company issued 4,744,007 shares of free-trading Common Stock of PHI Group, Inc. to Crown Bridge Partners, LLC., holder of the Common Stock Purchase Warrant dated as of June 9, 2017 in connection with the $35,000.00 Convertible Promissory Note of June 9, 2017 by the Company, for the cashless exercise of $17,300.00 value of warrants. The total warrant value remaining after this exercise was $17,700.00. On April 13, 2018, the Company issued 4,653,954 shares of free-trading Common Stock of PHI Group, Inc. to Crown Bridge Partners, LLC., holder of the Common Stock Purchase Warrant dated June 9, 2017 in connection with the $35,000.00 Convertible Promissory Note of June 9, 2017 by the Company, for the cashless exercise of $17,700.00 value of warrants. The total warrant value remaining after this exercise was $0.00. On April 19, 2018, the Company issued 1,169,591 shares of free-trading Common Stock of PHI Group, Inc. to Power Up Lending Group Ltd., holder of a Convertible Promissory Note dated as of 10/18/2017 by the Company, for the conversion of $20,000.00 of the principal amount of the Note, at the conversion price of $0.0171 per share. The principal amount of the Note remaining after this conversion was $16,333.33. On April 23, 2018, the Company issued 1,127,820 shares of free-trading Common Stock of PHI Group, Inc. to Power Up Lending Group Ltd., holder of a Convertible Promissory Note dated as of 10/18/2017 by the Company, for the conversion of $15,000.00 of the principal amount of the Note, at the conversion price of $0.0133 per share. The principal amount of the Note remaining after this conversion was $1,333.33. On April 24, 2018, the Company issued 295,156 shares of free-trading Common Stock of PHI Group, Inc. to Power Up Lending Group Ltd., holder of a Convertible Promissory Note dated as of 10/18/2017 by the Company, for the conversion of $1,333,33 of the principal amount of the Note together with $2,120 of accrued and unpaid interest thereto, totaling $3,453.33, at the conversion price of $0.0117 per share. The principal amount of the Note remaining after this conversion was $0.00. On April 27, 2018, Tina Phan, the Company’s Corporate Secretary and Treasurer, converted $120,000.00 of the accrued and unpaid salaries for the fiscal years ended June 30, 2012 and June 30, 2013 into 4,629,630 shares of Restricted Common Stock of PHI Group, Inc. at the effective price of $0.02592 per share, pursuant to the Company’s corporate resolutions dated November 2, 2012, which still remain in full force and effect. On April 27, 2018, Henry Fahman, the Company’s Chief Executive Officer and Chief Financial Officer, converted $300,000.00 of the accrued and unpaid salaries for the fiscal years ended June 30, 2012 and June 30, 2013 into 11,574,074 shares of Restricted Common Stock of PHI Group, Inc. at the effective price of $0.02592 per share, pursuant to the Company’s corporate resolutions dated November 2, 2012, which still remain in full force and effect. On May 29, 2018, the Company issued 3,159,521 shares of free-trading Common Stock of PHI Group, Inc. to Crown Bridge Partners, LLC., holder of the $35,000.00 Convertible Promissory Note dated October 26, 2017 of the Company, for the conversion of the principal, $992.47 of accrued interest and $500.00 of fees under the Note, totaling $36,492.47. The principal balance due remaining under this Note after this conversion was $0.00. On June 04, 2018, the Company issued 3,149,607 shares of free-trading Common Stock of PHI Group, Inc. to Einstein Investments, LLC, holder of the $115,000 Convertible Promissory Note dated November 24, 2017 of the Company, for the conversion of $44,050.96 principal amount together with $5,949.04 accrued interest under the Note, totaling $50,000. The principal balance due remaining under this Note after this conversion was $71,449.04. On June 21, 2018, the Company issued 6,048,786 shares of free-trading Common Stock of PHI Group, Inc. to Crown Bridge Partners, LLC., holder of the Common Stock Purchase Warrant dated as of October 26, 2017 in connection with the $35,000.00 Convertible Promissory Note of October 26, 2017 by the Company, for the cashless exercise of $22,285.00 value of warrants. The total warrant value remaining after this exercise was $12,715.00. On June 26, 2018, the Company issued 157,604 shares of free-trading Common Stock of PHI Group, Inc. to Buu Chung, holder of the convertible promissory note dated 4/14/2005 of the Company, for the conversion of $3,000 principal amount. The principal balance due remaining under this Note after this conversion was $0.00. As of June 30, 2018, there were 135,893,815 shares of the Company’s common stock issued and outstanding, excluding 5,673,327 shares of common stock that have been set aside for a special dividend distribution. Preferred Stock The Company has filed Certificates of Designation and Amendments to Certificate of Designation with the Nevada Secretary of State to designate the Company’s authorized Preferred Stock as follows: Class A Preferred Stock I. DESIGNATIONS, AMOUNTS AND DIVIDENDS 1. Class A Series I Cumulative Convertible Redeemable Preferred Stock A. Designation: The designation of the first twenty million (20,000,000) shares of the previously authorized 100,000,000 shares of Preferred Stock, with a par value of $0.001 per share, shall be Class A Series I Cumulative Convertible Redeemable Preferred Stock. B. Number of Shares: The number of shares of Class A Series I Preferred Stock authorized shall be twenty million (20,000,000) shares. C. Dividends: Each holder of Class A Series I Preferred Stock is entitled to receive ten percent (10%) non-compounding cumulative dividends per annum, payable semi-annually. 2 . Class A Series II Cumulative Convertible Redeemable Preferred Stock A. Designation. The designation of the next twenty-five million (25,000,000) shares of the previously authorized 100,000,000 shares of Preferred Stock, with a par value of $0.001 per share, shall be Class A Series II Cumulative Convertible Redeemable Preferred Stock (the “ Class A Series II Preferred Stock B. Number of Shares. The number of shares of Class A Series II Preferred Stock authorized shall be twenty-five million (25,000,000) shares. C. Dividends: Each holder of Class A Series II Preferred Stock is entitled to receive eight percent (8%) cumulative dividends per annum, payable semi-annually. 3. Class A Series III Cumulative Convertible Redeemable Preferred Stock A. Designation. The designation of the next fifty million (50,000,000) shares of the previously authorized 100,000,000 shares of Preferred Stock, with a par value of $0.001 per share, shall be Class A Series III Cumulative Convertible Redeemable Preferred Stock (the “ Class A Series III Preferred Stock B. Number of Shares. The number of shares of Class A Series III Preferred Stock authorized shall be fifty million (50,000,000) shares. C. Dividends: Each holder of Class A Series III Preferred Stock is entitled to receive eight percent (8%) cumulative dividends per annum, payable semi-annually. II. CONVERSION 1. Conversion of Series I and/or Series II Class A Preferred Stock into Common Stock of PHI Group, Inc. Each share of the Class A Preferred Stock, either Series I or Series II shall be convertible into the Company’s Common Stock any time after two years from the date of issuance at a Variable Conversion Price (as defined herein) of the Common Stock. The “Variable Conversion Price” shall mean 75% multiplied by the Market Price (as defined herein) (representing a discount rate of 25%). “Market Price” means the average Trading Price for the Company’s Common Stock during the ten (10) trading-day period ending one trading day prior to the date the Conversion Notice is sent by the Holder of the Class A Preferred Stock to the Company via facsimile or email (the “Conversion Date”). “Trading Price” means, for any security as of any date, the closing price on the OTC Markets, OTCQB, NASDAQ Stock Markets, or applicable trading market as reported by a reliable reporting service (“Reporting Service”) mutually acceptable to the Company and Holder of the Class A Preferred Stock. 2. Conversion of Series I and/or Series II Class A Preferred Stock into Common Stock of a subsidiary of PHI Group, Inc.’s. Alternatively, each share of the Class A Preferred Stock, either Series I or Series II, may be convertible into Common Stock of a subsidiary of PHI Group, Inc.’s, to be determined by the Company’s Board of Directors, any time after such subsidiary has become a fully-reporting publicly traded company for at least three months, at a Variable Conversion Price (as defined herein). The Variable Conversion Price to be used in connection with the conversion into Common Stock of a subsidiary of PHI Group, Inc.’s shall mean 50% multiplied by the Market Price (as defined herein), representing a discount rate of 50%, of that Common Stock. “Market Price” means the average Trading Price for the Common Stock of said subsidiary of PHI Group, Inc.’s during the ten (10) trading-day period ending one trading day prior to the date the Conversion Notice is sent by the Holder of the Preferred Stock to the Company via facsimile or email (the “Conversion Date”). “Trading Price” means, for any security as of any date, the closing price on the OTC Markets, OTCQB, NASDAQ Stock Markets, NYSE or applicable trading market as reported by a reliable reporting service (“Reporting Service”) mutually acceptable to the Company, said subsidiary and Holder of the Class A Preferred Stock.” 3. Conversion of Class A Series III Preferred Stock of PHI Group, Inc. into Common Stock of American Pacific Plastics, Inc., a subsidiary of PHI Group, Inc.’s. The entire Class A Series III Preferred Stock of PHI Group, Inc. (i.e. fifty million (50,000,000) shares) may be convertible into eighty percent (80%) American Pacific Plastics, Inc.’s Common Stock which will have been issued and outstanding immediately after such conversion or exchange on a pro rata basis. 4. Conversion Shares. The amount of shares of Common Stock of PHI Group, Inc., or alternatively, of a subsidiary of PHI Group, Inc.’s, to be received by Holder at the time of conversion of Class A Series I or Series II Preferred Stock of PHI Group, Inc. will be based on the following formula: Where CS Common Shares of PHI Group, Inc. Amount of CS OIP + AUD or alternatively of a subsidiary of PHI Group, Inc.’s. VCP OIP Original Issue Price of Class A Series I or Series II Preferred Stock of PHI Group, Inc. AUD Accrued and Unpaid Dividends. VCP Variable Conversion Price of PHI Common Stock or of a subsidiary of PHI Group, Inc.’s as defined above. III. REDEMPTION RIGHTS The Corporation, after a period of two years from the date of issuance, may at any time or from time to time redeem the Class A Preferred Stock, either Series I, Series II or Series III, in whole or in part, at the option of the Company’s Board of Directors, at a price equal to one hundred twenty percent (120%) of the original purchase price of the Class A Preferred Stock or of a unit consisting of any shares of Class A Preferred Stock and any warrants attached thereto, plus, in each case, accumulated and unpaid dividends to the date fixed for redemption. IV. LIQUIDATION Upon the occurrence of a Liquidation Event (as defined below), the holders of Class A Preferred Stock are entitled to receive net assets on a pro rata basis. As used herein, “ Liquidation Event Permitted Merger V. RANK All shares of the Class A Preferred Stock shall rank (i) senior to the Corporation’s Common Stock and any other class or series of capital stock of the Corporation hereafter created, (ii) pari passu VI. VOTING RIGHTS 1. Class A Series I, II and III Preferred Stock of PHI Group, Inc. shall have no voting rights. VII. PROTECTION PROVISIONS So long as any shares of Class A Preferred Stock are outstanding, the Corporation shall not, without first obtaining the majority written consent of the holders of Class A Preferred Stock, alter or change the rights, preferences or privileges of the Class A Preferred Stock so as to affect adversely the holders of Class A Preferred Stock. VIII. MISCELLANEOUS A. Status of Redeemed Stock B Lost or Stolen Certificates C Waiver D Notices If to the Corporation: PHI GROUP, INC. 5348 Vegas Drive, # 237 Las Vegas, NV 89108 Telephone: 702-475-5430 Facsimile: 702-472-8556 If to the holders of Class Preferred Stock, to the address to be listed in the Corporation’s books and Records. Class B Preferred Stock Class B Series I Preferred Stock A. Designation: The designation of the next twenty-five thousand shares of the previously authorized 100,000,000 shares of Preferred Stock, with a par value of $0.001 per share, shall be Class B Series I Preferred Stock. B. Number of Shares: The number of shares of Class B Series I Preferred Stock authorized will be twenty-five thousand shares. C. Dividend: None D. Voting rights: Except as provided by law, the shares of Class B Series I Preferred Stock shall have the same right to vote or act on all matters on which the holders of Common Stock have the right to vote or act and the holders of the shares of Class B Series I shall be entitled to notice of any stockholders’ meeting or action as to such matters on the same basis as the holders of Common Stock, and the holders of Common Stock and shares of Class B Series I shall vote together or act together thereon as if a single class on all such matters; provided, in such voting or action each one share of Class B Series I shall be entitled to one hundred thousand votes. As of June 30, 2018, there were 10,000,000 shares of Class A Series II Preferred Stock issued and outstanding. Domestication in the State of Wyoming On September 20, 2017, the Company applied for a Certificate of Domestication and filed Articles of Domestication with the office of the Secretary of State of Wyoming to re-domicile the Company’s jurisdiction to the State of Wyoming. On September 20, 2017, the Company filed Articles of Amendment with the Wyoming Secretary of State to amend the authorized capital of the Company as follows: “The total number of shares into which the authorized capital stock of the corporation is divided is one billion shares, consisting of: nine hundred million shares of voting Common Stock with a par value of $0.001 per share; fifty million shares of non-voting Class A Series I Preferred Stock with a par value of $5.00 per share; twenty-five million shares of non-voting Class A Series II Preferred Stock with a par value of $5.00 per share; twenty million shares of non-voting Class A Series III Preferred Stock with a par value of $5.00 per share and five million shares of voting Class A Series IV Preferred Stock with a par value of $5.00 per share. The relative rights, preferences, limitations and restrictions associated with the afore-mentioned shares of Class A Preferred Stock will be determined by the Board of Directors of the corporation.” As of the date of this report, the Company continues to operate as a Nevada corporation. |
Stock-Based Compensation Plans
Stock-Based Compensation Plans | 12 Months Ended |
Jun. 30, 2018 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Stock-Based Compensation Plans | NOTE 16 STOCK-BASED COMPENSATION PLANS On February March 18, 2015, the Company adopted an Employee Benefit Plan to set aside 1,000,000 shares of common stock for eligible employees and independent contractors of the Company and its subsidiaries. As of June 30, 2018 the Company has not issued any stock in lieu of cash under this plan. On September 23, 2016, the Company issued incentive stock options and nonqualified stock options to certain key employee(s) (Henry Fahman – CEO/CFO) and directors (Tam Bui, Henry Fahman, and Frank Hawkins constitute the Board of Directors) as deferred compensation. The options allow the holders to acquire the Company’s Common Stock at the fair exercise price of the Company’s Common Stock on the grant date of each option at $0.24 per share, based on the 10-days’ volume-weighted average price prior to the grant date. The number of options is equal to a total of 6,520,000. The options terminate seven years from the date of grant and become vested and exercisable after one year from the grant date. The following assumptions were used in the Monte Carlo analysis by Doty Scott Enterprises, Inc., an independent valuation firm, to determine the fair value of the stock options: Risk-free interest rate 1.18 % Expected life 7 years Expected volatility 239.3 % Vesting is based on a one-year cliff from grant date. Annual attrition rates were used in the valuation since ongoing employment was condition for vesting the options. The fair value of the Company’s Stock Options as of issuance valuation date is as follows: Holder Issue Date Maturity Date Stock Options Exercise Price Fair Value at Issuance Tam Bui 9/23/2016 9/23/2023 875,000 Fixed price: $0.24 $ 219,464 Frank Hawkins 9/23/2016 9/23/2023 875,000 Fixed price: $0.24 $ 219,464 Henry Fahman 9/23/2016 9/23/2023 4,770,000 Fixed price: $0.24 $ 1,187,984 |
Gain (Loss) on Settlement of De
Gain (Loss) on Settlement of Debts | 12 Months Ended |
Jun. 30, 2018 | |
Gain Loss On Settlement Of Debts | |
Gain (Loss) on Settlement of Debts | NOTE 17 GAIN (LOSS) ON SETTLEMENT OF DEBTS For the fiscal year ended June 30, 2018, there was a loss in the amount of $92,780 on settlement of debts and a loss in the amount of $94,539 from conversions of debts into common stock of the Company. |
Other Income (Expense)
Other Income (Expense) | 12 Months Ended |
Jun. 30, 2018 | |
Other Income and Expenses [Abstract] | |
Other Income (Expense) | NOTE 18 OTHER INCOME (EXPENSE) Net Other Income (Expense) for the fiscal year ended June 30, 2018 consists of the following: OTHER INCOME (EXPENSES) FY ended June 30, 2018 Interest expense (1,352,736 ) Loss on loan/note conversions (94,539 ) Loss on debt settlement (92,781 ) Prepayment premium (164,272 ) Write-offs (77,500 ) Loss on issuance of stock (9,310 ) Accrual for Preferred Stock Dividends (4,681 ) Net miscellaneous other income/expense (194 ) NET OTHER INCOME (EXPENSES) $ (1,796,013 ) |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Jun. 30, 2018 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | NOTE 19 RELATED PARTY TRANSACTIONS The Company accrued $210,000 in salaries for the President and Secretary of the Company during the year ended June 30, 2018. During the year ended June 30, 2018, the Company received $25,000 for consulting service from American Laser Healthcare, Inc., for which the president of the Company also serves as an interim Chief Executive Officer. |
Income Taxes
Income Taxes | 12 Months Ended |
Jun. 30, 2018 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | NOTE 20 INCOME TAXES No provision was made for income tax since the Company has significant net operating loss carry forward. Through June 30, 2018, the Company incurred net operating losses for tax purposes of approximately $40,551,299. The net operating loss carry forward may be used to reduce taxable income through the year 2033. Net operating loss for carry forwards for the State of California is generally available to reduce taxable income through the year 2023. The availability of the Company’s net operating loss carry-forward is subject to limitation if there is a 50% or more positive change in the ownership of the Company’s stock. “Under section 6501(a) of the Internal Revenue Code (Tax Code) and section 301.6501(a)-1(a) of the Income Tax Regulations (Tax Regulations), the IRS is required to assess tax within 3 years after the tax return was filed with the IRS.” |
Contracts and Commitments
Contracts and Commitments | 12 Months Ended |
Jun. 30, 2018 | |
Commitments and Contingencies Disclosure [Abstract] | |
Contracts and Commitments | NOTE 21 CONTRACTS AND COMMITMENTS EQUITY LINE FACILITY - INVESTMENT AGREEMENT WITH AZURE CAPITAL, INC. 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 worth of the Company’s common stock, over a period of 36 months from the effectiveness of the registration statement registering the resale of shares purchased by the Investor pursuant to the Investment Agreement. The Company agreed to initially reserve 20,000,000 shares of its Common Stock for issuance to the Investor pursuant to the Investment Agreement. In the event the Company cannot register a sufficient number of shares of its Common Stock for issuance pursuant to the Investment Agreement, the Company will use its best efforts to authorize and reserve for issuance the number of shares required for the Company to perform its obligations in connection with the Investment Agreement as soon as reasonable practical. The Company may in its discretion draw on the facility from time to time, as and when the Company determines appropriate in accordance with the terms and conditions of the Investment Agreement. The maximum number of shares that the Company is entitled to put to the Investor in any one draw down notice shall not exceed shares with a purchase price of $250,000 or 200% of the average daily volume (U.S. market only) of the Company’s Common Stock for the three (3) Trading Days prior to the applicable put notice date multiplied by the average of the three (3) daily closing prices immediately preceding the put date, calculated in accordance with the Investment Agreement. The Company may deliver a notice for a subsequent put from time to time, after the pricing period for the prior put has been completed. The purchase price shall be set at ninety-four percent (94%) of the lowest daily volume weighted average price (VWAP) of the Company’s common stock during the five (5) consecutive trading days immediately following the put notice date. On each put notice submitted to the Investor by the Company, the Company shall specify a suspension price for that put. In the event the price of Company’s Common Stock falls below the suspension price, the put shall be temporarily suspended. The put shall resume at such time the price of the Company’s Common Stock is above the suspension price, provided the dates for the pricing period for that particular put are still valid. In the event the pricing period has been complete, any shares above the suspension price due to the Investor shall be sold to the Investor by the Company at the suspension price under the terms of the Investment Agreement. The suspension price for a put may not be changed by the Company once submitted to the Investor. There are put restrictions applied on days between the draw down notice date and the closing date with respect to that particular put. During such time, the Company shall not be entitled to deliver another draw down notice. In addition, the Investor will not be obligated to purchase shares if the Investor’s total number of shares beneficially held at that time would exceed 4.99% of the number of shares of the Company’s common stock as determined in accordance with Rule 13d-1(j) of the Securities Exchange Act of 1934, as amended. In addition, the Company is not permitted to draw on the facility unless there is an effective registration statement to cover the resale of the shares. The Investment Agreement also contains customary representations and warranties of each of the parties. The assertions embodied in those representations and warranties were made for purposes of the Investment Agreement and are subject to qualifications and limitations agreed to by the parties in connection with negotiating the terms of the Investment Agreement. The Investment Agreement further provides that the Company and the Investor are each entitled to customary indemnification from the other for, among other things, any losses or liabilities they may suffer as a result of any breach by the other party of any provisions of the Investment Agreement or Registration Rights Agreement (as defined below). Investor should read the Investment Agreement together with the other information concerning the Company that the Company publicly files in reports and statements with the Securities and Exchange Commission (the “SEC”). Pursuant to the terms of the Registration Rights Agreement, the Company is obligated to file one or more registrations statements with the SEC within twenty-one (21) days after the date of the Registration Rights Agreement to register the resale by the Investor of the shares of common stock issued or issuable under the Investment Agreement. In addition, the Company is obligated to use all commercially reasonable efforts to have the registration statement declared effective by the SEC within 90 days after the registration statement is filed. This Investment Agreement was amended on August 3, 2017 to allow for the reservation of 65,445,000 shares of the Company’s Common Stock for issuance to the Investor pursuant to the corrected Investment Agreement. The Company has filed a S-1 Registration Statement with the Securities and Exchange Commission to include 7,936,600 shares of its Common Stock for issuance in connection with the first tranche of the Equity Line Facility. The S-1 Registration Statement, as amended, was declared effective by the Securities and Exchange Commission on January 11, 2018. The Company intends to access the Equity Line Facility only when the Company’s stock prices reach levels that its management deems appropriate. SETTLEMENT AGREEMENT WITH THINH HUNG INVESTMENT CO. On August 3, 2017, the Company signed a Settlement Agreement and agreed to pay Thinh Hung Investment Co. a total amount of $381,000, which includes the outstanding balance of $288,219 that is reclassified as Customer Advances in the Long-term Liability portion of the attached balance sheet and accrued interest as agreed by the two parties. According to the Settlement Agreement, the Compapny will transfer or cause to be transferred at least 480,000 shares of Common Stock of PHI Group, Inc. to an authorized represenatative of Thinh Hung. In the event Thinh Hung is unable to realize at least $381,000 from the sale of PHI Stock, PHI Group will either transfer additional Common Stock of PHI Group, Inc. or other marketable securities to the authorized reprenesattive designated Thinh Hung or pay cash directly to Thinh Hung until the total amount of $381,000 is reached. PHI Group, Inc. agreed to use its best efforst to pay off any outstanding balance by October 31, 2017. After the receipt of at least 480,000 shares of PHI Group Stock by the authorized representative of Thinh Hung, Thinh Hung shall deliver and transfer all the Vietnam Foods Corporation Stock to PHI Group, Inc. or its authorized representative. As of the day of this report, the Company has not been able to transfer 480,000 shares of its Common Stock to Thinh Hung’s authorized representative. MEMORANDUM OF UNDERSTANDING WITH AQUARIUS POWER, INC. On August 9, 2017, the Company signed a Memorandum of Understanding (“MOU”) with Aquarius Power, Inc. (“AQP”), a Texas company, to provide renewable energy technology to Vietnam. PHI has also made an investment to become a strategic shareholder of AQP. PHI and AQP will form a joint venture company which will have the exclusive right to sublicense, sell, build, own and/or operate the AQP energy systems in Vietnam on an exclusive basis. PHI will be responsible for: Obtaining all necessary approvals to build, own and operate AQuarius Energy System; Securing a binding and acceptable power purchase agreement (PPA) from the governmental authority; Providing the land for the Aquarius Energy System; Providing the construction and civil engineering know-how to build the energy pools; Providing management, engineering and operational manpower to build and operate the AQuarius Engineering System; and Providing the interconnection of the AQuarius Energy System to the national grid. AQP’s responsibilities include: Support PHI in obtaining the Power Purchase Agreement; Conduct a site survey and provide blueprints for a tailor made Energy System; Provide technical support for the construction and operation of the Energy System (Includes training for construction, installation and operations); Build, Ship, the AQuarius Energy System(s); and Install and commission the AQuarius Energy System as required. AQuarius Wave Energy System is a land-based wave energy system that uses a combination of gravity and “buoyancy” found within the interaction between air and water to produce power that can be used to generate electricity and / or produce potable water. AQuarius is a baseload zero carbon footprint that uses no consumables and can be installed virtually anywhere on the planet that is cost effective against any fossil fuel alternatives. The system, which can be built turn-key within 6 months of obtaining permits, has an operating life of over 60 years and is clean, scalable, reliable, and extremely flexible. Its operating cost is comparably low as hydroelectric systems. On October 6, 2017, the Company signed a new Memorandum of Understanding (“MOU”) with AQuarius Power, Inc. to expand the scope of cooperation and provide the same renewable energy technology to Eastern Europe and the European Region. For Eastern Europe the Company is in the process of planning to build a pilot unit in Romania using AQP technology. PHI also intends to make additional investments in AQP. As of the date of this report, the Company has made an investment of $5,000 in AQuarius Power, Inc. and intends to continue making additional investments via purchase of AQP’s Common Stock. AGREEMENT TO ACQUIRE 51% OWNERSHIP IN 400-ACRE MINING CLAIMS IN GRANT COUNTY, OREGON AND CLOSING OF TRANSACTION On September 2, 2017, American Pacific Resources, Inc., a Wyoming corporation (“APR”) and wholly owned subsidiary of the Company, entered into an Agreement of Purchase and Sale with Rush Gold Royalty Inc, a Wyoming corporation, to acquire a 51% ownership in twenty-one mining claims over an area of approximately 400 acres in Granite Mining District, Grant County, Oregon, U.S.A. This transaction was closed effective October 3, 2017. The Company paid cash and issued 10,000,000 shares of Class A Series II Preferred Stock, valued at $314,100, and a convertible demand promissory note in the amount of $24,310,400 totaling twenty-five million dollars to Rush Gold Royalty Inc. in exchange for the mining claims. As of June 30, 2018, the balance of the convertible demand promissory note was $24,048,500. On April 23, 2018, the Company’s Board of Directors passed a resolution to declare a twenty percent (20%) special stock dividend from its holdings of Common Stock in American Pacific Resources, Inc., a subsidiary of the Company, to shareholders of Common Stock of the Company as follows: (a) Declaration date: April 23, 2018; (b) Record date: May 31, 2018; (c) Payment date: October 31, 2018; (d) Dividend ratio: All eligible shareholders of Common Stock of the Company as of the Record date shall be entitled to receive two (2) shares of Common Stock of American Pacific Resources, Inc. for every ten (10) shares of Common Stock of PHI Group, Inc. held by such shareholders as of the referenced Record date. The payment date has been rescheduled to March 29, 2019. TECHNICAL ASSISTANCE AGREEMENT WITH AUBURN UNIVERSITY On September 25, 2017, the Company signed a Technical Assistance Agreement with Auburn University to conduct a research program in order to determine the market segments related to supply and demand of medicinal and aromatic plants in the world, and then focus more specifically on major production and consumption markets. The first four topics of the research program focus on the production, medicinal applications, and market analysis of turmeric, saffron, bitter melon, and some major potential and aromatic plants. The last topic covers the trends and solutions of switching from conventional farming to organic farming of these crops to meet the future food and medicinal consumption. The research program began on October 1, 2017 and ended on September 30, 2018. AGREEMENT TO DEVELOP A 67,000-ACRE GOLD MINING PROJECT IN LAOS On November 4, 2017, American Pacific Resources, Inc. (“APR”) ( https://aprgold.com/ According to the Agreement, APR will be responsible for financing and operating the gold mining project and will share a majority of the project’s net profits after accounting for the costs of capital and operating expenses. It is estimated that 3,527,000 ounces of gold can be mined from this concession, subject to further professional study and verification. The Agreement is valid until December 31, 2066. As of the date of this report, APR has not begun this project. BUSINESS CONSULANCY AND STRUCTURING AGENCY AGREEMENT TO SET UP INSTITUTIONAL BANK FUNDS IN LUXEMBOURG On November 30, 2017, the Company signed an agreement with a structuring agent and legal experts to set up a bank fund in Luxembourg in order to provide financing for the Company’s and its clients’ projects. The Reserved Alternative Investment Fund (RAIF) can be established under the form of common funds (“FCP”), investment companies with variable capital (“SICAV”) or under the form that does not have to have the legal form of a SICAV or an FCP. There will be no restriction in terms of eligible assets. RAIFs are free to introduce any kind of assets and financial instruments in their investment policy. According to the Luxembourg Law of July 12, 2013, RAIFs must entrust their assets to a Luxembourg custodian bank for safekeeping and must appoint an approved statutory auditor. One of the distinctive advantages of RAIF is that it may have various sub-funds, each corresponding to a distinct part of the assets and liabilities of the RAIF. As such, sub-funds can be established under a RAIF umbrella to target different investment opportunities in a variety of industries as desired. On February 21, 2018, the Company signed an amendment to the Business Consultancy and Structuring Agency Agreement to be solely responsible for all the costs of Euros 3,500,000 associated with establishing the RAIF. On October 4, 2018, a Payment Agreement was signed by the structuring agent and the Company calling for an extra amount of Euros 1,500,000 to be paid to the structuring agent by November 15, 2018. INVESTMENT AGREEMENT WITH GRIDLINE COMMUNICATIONS, INC. On December 15, 2017, PHI Group, Inc. entered into an Investment Agreement with Gridline Communications, Inc. (“Gridline”) to form a special purpose vehicle (“SPV”) under the name of Matrix Communications, Inc., as the holding company to acquire all the stock of Gridline Communications and its sister company GridlineX as well as finance and implement Gridline’s high-speed broadband communications business. According to the Investment Agreement, the Matrix Communications will acquire all ownership and rights of the Investee in connection with high-speed broadband networks and related supporting assets to serve government, commercial and consumer telephony, data and video needs in the Republic of Equatorial Guinea as the first point of entry into the African Continent. Matrix Communications’ authorized capital will include 600 million shares of Common Stock and 300 million shares of Preferred Stock. PHI Group will be the sole holder of Common Stock in the SPV initially and will retain fifteen percent equity interest thereof following the capitalization plan. This transaction has not closed as of the date of this report. MEMORANDUM OF UNDERSTANDING TO BUILD INDUSTRIAL PARK, GREENHOUSES, POWER PLANT AND WATER PARK IN TRANSYLVANIA, ROMANIA On December 18, 2017, PHI Group, Inc. (the “Company”), entered into a Memorandum of Understanding (“MOU”) with SC Z.I.O.S. SRL, a Romanian company, to develop an industrial park in Transylvania, Romania. According to the MOU, PHI Group will cooperate with the owner of SC Z.I.O.S SRL to develop, build and operate a gas-fired power plant and greenhouses over the ZIOS land parcel and water park adjacent to it. The Company is committed to investing or causing to be invested the required capital to finance the building of a minimum 10-MW gas-fired power plant (renewable energy with steam processing plant), the building of a minimum 10-hectares of greenhouse and investing 20 million Euros in a water park and health retreat wellness resort taking advantage of the salt lakes adjacent to the ZIOS land parcel. Both parties agree to accept the value of the ZIOS land parcel to be equivalent to seven (7) million Euros and acknowledge that ZIOS currently has a debt of 1.4 million Euros on its books. The owner of SC Z.I.O.S. SRL agrees to contribute 3.5 million Euros from value of the ZIOS land parcel toward the total capitalization to develop, build and operate the gas-fired power plant, the greenhouse and the water park and will hold a proportionate percentage of ownership in the entity that owns these projects based on the total capitalization amount during the first two years. PHI Group agrees to pay or cause to be paid to owner of SC Z.I.O.S. SRL two (2) million Euros after the all required approvals and permits are granted by the pertinent Romanian governmental authorities to build the gas-fired power plant, the greenhouse and the water park. This sum of money and the payment of 1.4 million Euros to the Z.I.O.S. creditor will come from the structured financing in connection with the capitalization for these projects, unless agreed otherwise by the pertinent parties afterwards. In addition, the balance of 1.5 million Euros will be paid to the owner of SC Z.I.O.S. SRL over a period of 5 years based on cash flow milestones from operations. As of the date of this report, the Company and SC Z.I.O.S. SRL have not signed a definitive agreement to consummate the transactions mentioned herein. AGREEMENT BETWEEN AMERICAN PACIFIC RESOURCES, INC. AND GILDEXSHOP On February 28, 2018, American Pacific Resources, Inc. (“APRI”), a subsidiary of the Company, signed a Business Cooperation with GildexShop Pte Ltd. (“GLDX”), a company to be established in Singapore. According to the agreement, APRI and GLDX will primarily cooperate with each other to accomplish the following objectives: 1. Capitalization of APRI: GLDX will issue and circulate a certain amount of cryptocurrency tokens using blockchain technology in order to raise capital for APRI to implement its business plan. 2.Using APRI’s assets as guarantee for GLDX ICO’s: APRI agrees to guarantee the value of the GLDX ICO tokens pursuant to the following terms and conditions: a. In the event the trading prices of GLDX ICO tokens fall below their original purchase prices anytime after GLDX tokens are listed on a reputable cryptocurrency exchange, APRI agrees to guarantee the value of all such GLDX ICO tokens that are purchased by investors by allowing the token holders to exchange the original purchase prices of such ICO tokens for gold from APRI at 50% discount to the Market Price (as defined herein) of gold at the time of exchange. Market Price shall mean the 10-day average closing spot price of gold on the London Metal Exchange (LME) immediately prior to the date of the request for exchange by the ICO token holders. b. Holders of GLDX ICO tokens may select one of the following options for the receipt of the APRI gold guarantee: (i). Receipt of physical gold bar(s) from APRI or its affiliate(s). (ii). Receipt of Ethereum or alternatively acceptable crytocurrencies equivalent to the value of the original ICO purchase prices. (iii) Receipt of cash through wire transfer to token-holder’s bank account after sale of the guarantee gold position(s). 3. GLDX shall be responsible for providing the required capital for APRI to set up the processing facilities to recover gold and other precious metals from its Gold Assets. The amounts of capital to be provided to APRI by GLDX will be done in tranches and based on a schedule of funding and use of proceeds to be determined and agreed upon by both APRI and GLDX. 4. APRI covenants and warrants that it shall sell refined gold and other products of precious metals from its Gold Assets to GLDX at 50% discount to Market Price as defined above until GLDX has recovered at least twice the amount(s) of its capital investment in APRI or the end of the five-year term of this Agreement, whichever occurs later. 5. Compliance with Various Jurisdictions and the Requirements of the U.S. Securities and Exchange Commission: GLDX shall strictly comply with the requirements of the appropriate jurisdictions with respect to the offerings of its GLDX ICO tokens and shall not offer any of such tokens to U.S. investors unless and until it has met all the requirements of the U.S. Securities and Exchange Commission in connection with the offering and sale of the tokens. As of the date of this report, APRI has not received any capital from GLDX. AGREEMENT WITH PHUONG HOANG INVESTMENT AND DEVELOPMENT LLC TO GROW SACHA INCHI IN THUA THIEN HUE PROVINCE, VIETNAM In March 2018, the Company signed a Business Cooperation Agreement with Phuong Hoang Investment and Development LLC, a company registered in Ha Tinh Province, Vietnam, to grow a total of 2,000 hectares (approximately 4,940 acres) of sacha inchi in the province of Thua Thien Hue for export to the U.S. and European markets. Originally from the Amazon rainforest and the high Andes Mountains of Peru, sacha inchi has been part of the Inca diet for 3,000 years. The sacha inchi plant, plukenetia volubilis, a rainforest vine, with star-shaped seed pods, is currently cultivated primarily in parts of Southeast Asia and South America. Sacha inchi has been recognized for a number of health benefits such as complete protein, weight loss, heart health, bone health, and skin and hair health. According to the agreement, the Company will be responsible for providing the required capital for this project and will own 75% equity interest in the joint venture company. AGREEMENT WITH CLIENT-PARTNER FOR PARTICIPATION IN LUXEMBOURG RESERVED ALTERNATIVE INVESTMENT FUND On March 27, 2018, Thanh Vu, an individual, (“TV”) signed an agreement with the Company to participate in a Luxembourg Reserved Alternative Investment Fund (“RAIF”). According to the agreement, TV will pay the Company $2,000,000 in fees to participate in the RAIF, of which $500,000 is due upon the signing and $1,500,000 to be paid fifteen days after the signing of the agreement. The Company recorded $2,000,000 as Contract Assets, of which $1,212,159 was recognized as revenue during the fiscal year ended June 30, 2018, thus leaving $697,841 as the remaining Contract Assets, offset by $697,841 as Contract Liabilities as of June 30, 2018. TV shall be entitled to all the benefits in connection with the RAIF, including but not limited to voting rights, profit sharing, cash and securities dividends, as well as other benefits related to ownership in the fund. JOINT BUSINESS COOPERATION AGREEMENT WITH INDONESIAN AND GERMAN COMPANIES On April 5, 2018, the Company signed a Joint Business Cooperation Agreement with PT Mega Kencana Persada, an Indonesian company with principal address at No 2, Jln Kepodang Raya K9, Jakarta Selatan 15412, Indonesia, (hereinafter referred to as “MKP”), and Smartway GmbH, a company organized and existing under the laws of Federal Republic of Germany, with principal address at Liszstr. 17, D-53115, Bonn, Germany (hereinafter referred to as “SMW” to primarily cooperate with one other to develop certain joint business opportunities, particularly research and development in the Indonesian maritime commuter segment, including application of SMW’s logistical technology for optimized inter-provincial ferry operations and digital online payment system for maritime passengers. Moreover, the parties may from time to time cooperate with each other and jointly engage in other business activities that deem mutually desirable and beneficial to all parties. The Parties agree that: a) MKP shall be responsible for conducting all research and development, field survey, data collection and capturing business opportunities and securing local government licensing requirements. b) SMW shall provide or cause to be provided system technologies to support market segments submitted by MKP with respect to the Indonesian maritime transportation, land transportation, and online payment for Indonesian overseas travel. c) PHI shall provide assistance with respect to financing, capitalization, investor and public relations, business development, going public, corporate governance, growth and expansion strategy and other pertinent corporate activities that deem beneficial to the scope of business cooperation mentioned herein. d) MKP, PHI and SMW agree to form a Singaporean company as the holding company (“HoldCo”) for the contemplated business activities mentioned herein. e) The roles, responsibilities and benefits of each party in connection with the scope of business mentioned herein will be determined by HoldCo. BUSINESS COOPERATION AGREEMENT WITH FINTECH GREEN INVESTMENT JSC On May 21, 2018, the Company signed a Business Cooperation Agreement with Fintech Green Investment JSC to cooperate with other with respect to the following areas: a) PHI will discuss and negotiate with FGI to consider an acquisition of a majority equity interest in FGI and/or exchange of ownership between TNB and PHI by way of stock swap to form a strategic alliance between the two companies; b) PHI will invest or cause to be invested in FGI and assist FGI to access funding sources to implement FGI’s business plan; c) PHI will assist FGI to become a publicly traded company in the United States Stock Market and other international exchanges as deems appropriate to enable FGI to access international capital markets to further its development and growth; d) PHI will cooperate with FGI to set up additional cryptocurrency mining facilities in selective geographical areas and assist FGI to promote and advertise its business on a global basis; e) PHI and FGI may jointly develop, manufacture and market other products and/or engage in other business activities that may be of mutual interest to both parties. |
Going Concern Uncertainty
Going Concern Uncertainty | 12 Months Ended |
Jun. 30, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Going Concern Uncertainty | NOTE 22 GOING CONCERN UNCERTAINTY As shown in the accompanying consolidated financial statements, the Company has accumulated deficit of $40,551,299 and total stockholders’ deficit of $4,844,747 as of June 30, 2018. These factors as well as the uncertain conditions that the Company faces in its day-to-day operations with respect to cash flows create an uncertainty as to the Company’s ability to continue as a going concern. The financial statements do not include any adjustments that might be necessary should the Company be unable to continue as a going concern. Management has taken action to strengthen the Company’s working capital position and generate sufficient cash to meet its operating needs through June 30, 2019 and beyond. |
Subsequent Event
Subsequent Event | 12 Months Ended |
Jun. 30, 2018 | |
Subsequent Events [Abstract] | |
Subsequent Event | NOTE 23 – SUBSEQUENT EVENT These financial statements were approved by management and available for issuance on October 12, 2018. Subsequent events have been evaluated through this date. BUSINESS COOPERATION AGREEMENT WITH REGENT BLOCKHAIN GROUP, LTD. On July 22, 2018, the Company signed a Business Cooperation Agreement http://ceza.gov.ph/ 1. PHI and RBG will form a joint venture company (the “JV”) to be located in the Cagayan Economic Zone, Lai-lo Municipality, Cagayan, Philippines, for the purposes of developing and operating an offshore financial center and blockchain businesses including but not limited to Apps, ICO’s and cryptocurrency exchanges. 2. PHI initially will invest or cause to be invested $4,000,000 for a fifty-one percent ownership and management rights of the JV and will assist the JV to access funding sources to implement its business plan. This initial investment can be in cash or stock of PHI, to be determined by both parties prior to the closing of the Definitive Agreement as mentioned in Article II below. 3. RBG will contribute the required license(s) from the Filipino government, particularly Cagayan Economic Zone Authority, towards the JV for the operations of the offshore financial center and blockchain businesses. 4. PHI will, at the appropriate time, spin off the JV company as a new public company in the United States Stock Market and other international exchanges as deems desirable to enable it to access international capital markets to further its development and growth. The capital structure of the JV prior to the spinoff will be determined by both parties and further detailed in the Definitive Agreement. 5. PHI and RBG may jointly develop, manufacture and market other products and/or engage in other business activities that may be of mutual interest to both parties. BUSINESS COOPERATION AGREEMENT WITH BAO LAM LLC TO GROW SACHA INCHI IN VIETNAM CENTRAL HIGHLANDS On July 2, 2018, the Company signed Business Cooperation Agreement Bao Lam LLC, a company registered in Dak Lak Province, Vietnam, to grow a total of 1,000 hectares (approximately 2,470 areas) of sacha inchi in the province of Dak Lak and Dak Nong Province, Vietnam for export to the U.S. and European markets. According to the agreement, the Company will be responsible for providing the required capital for this project and will own 75% equity interest in the joint venture company. ACQUISITION OF 51% EQUITY INTEREST IN VINAFILMS JOINT STOCK COMPANY On August 06, 2018, signed a Business Cooperation Agreement with Vinafilms JSC (Công ty Cổ phần Màng Bao Bì Tân Vinh Nam Phát), a Vietnamese joint stock company, with principal business address at Lot G9, Road No. 9, Tan Do Industrial Zone, Duc Hoa Ha Village, Duc Hoa District, Long An Province, Vietnam, hereinafter referred to as “VNF” and its majority shareholder, to exchange fifty-one percent ownership in VNF for Preferred Stock of PHI. According to the Agreement, PHI will be responsible for filing a S-1 Registration Statement with the Securities and Exchange Commission for American Pacific Plastics, Inc., a subsidiary of PHI that holds the 51% equity ownership in VNF, to become a fully-reporting public company in the U.S. Stock Market. On September 20, 2018, a Stock Swap Agreement was signed by and between Ms. Do Thi Nghieu, the majority shareholder holding 76% of ownership in VNF, and PHI to exchange 3,060,000 shares of ordinary stock of VNF owned by Ms. Do Thi Nghieu for 50 million shares of Class A Series III Cumulative, Convertible, Redeemable Preferred Stock of PHI. This transaction was closed on September 28, 2018. AMENDMENT TO ARTICLES OF INCORPORATION OF PHI GROUP, INC. On July 25, 2018, a Certificate of Amendment to Articles of Incorporation of PHI Group, Inc. was filed with the Nevada Secretary of State to amend Article V of the Articles of Incorporation to change the authorized capital stock of the Corporation to 1,500,000,000 shares with a par value of $0.001 per share, consisting of 1,400,000,000 shares of voting Common Stock with a par value of $0.001 per share and 100,000,000 shares of Preferred Stock with a par value of $0.001 per share. The rights and terms associated with the shares of Preferred Stock will be determined by the Board of Directors of the Corporation. CERTIFICATE OF DESIGNATION FOR CLASS B SERIES I PREFERRED STOCK OF PHI GROUP, INC. On September 21, 2018, a Certificate of Designation for Nevada Profit Corporations was filed with the Nevada Secretary of State to designate Class B Series I Preferred Stock of PHI Group, Inc. as follows: A. Designation: The designation of the next twenty-five thousand shares of the previously authorized 100,000,000 shares of Preferred Stock, with a par value of $0.001 per share, shall be Class B Series I Preferred Stock. B. Number of Shares: The number of shares of Class B Series I Preferred Stock authorized will be twenty-five thousand shares. C. Dividend: None D. Voting rights: Except as provided by law, the shares of Class B Series I Preferred Stock shall have the same right to vote or act on all matters on which the holders of Common Stock have the right to vote or act and the holders of the shares of Class B Series I shall be entitled to notice of any stockholders’ meeting or action as to such matters on the same basis as the holders of Common Stock, and the holders of Common Stock and shares of Class B Series I shall vote together or act together thereon as if a single class on all such matters; provided, in such voting or action each one share of Class B Series I shall be entitled to one hundred thousand votes. On September 21, 2018, the Company issued a total of fifteen thousand shares of Class B Series I Preferred Stock at par value to the current members of the Company’s Board of Directors. AMENDMENT TO ARTICLES OF INCORPORATION OF PHI GROUP, INC. On September 21, 2018, a Certificate of Amendment to Articles of Incorporation of PHI Group, Inc. was filed with the Nevada Secretary of State to amend Article V of the Articles of Incorporation to change the authorized capital stock of the Corporation to 2,000,000,000 shares with a par value of $0.001 per share, consisting of 1,900,000,000 shares of voting Common Stock with a par value of $0.001 per share and 100,000,000 shares of Preferred Stock with a par value of $0.001 per share. The rights and terms associated with the shares of Preferred Stock will be determined by the Board of Directors of the Corporation. CERTIFICATE OF AMENDMENT TO CERTIFICATE OF DESIGNATION FOR PREFERRED STOCK OF PHI GROUP, INC. On September 24, 2018, Certificate of Amendment to Certificate of Designation for Nevada Profit Corporations was filed with the Nevada Secretary of State to re-designate Class A Preferred Stock of PHI Group, Inc. as detailed in Note 15 – STOCKHOLDERS’ EQUITY, CLASS A PREFERRED STOCK above. On September 28, 2018, the Company issued 50 million shares of Class A Series III Cumulative, Convertible, Redeemable Preferred Stock to Ms. Do Thi Nghieu in connection with the Closing of the Stock Swap Agreement dated September 20, 2018 between Ms. Do Thi Nghieu and the Company. ISSUANCES OF COMMON STOCK OF THE COMPANY On July 19, 2018, the Company issued 1,951,220 shares of free-trading Common Stock of PHI Group, Inc. to Einstein Investments, LLC, holder of the $115,000 Convertible Promissory Note dated November 24, 2017 of the Company, for the conversion of $18,099.55 principal amount together with $900.45 accrued interest under the Note and $1,000.00 of conversion fees, totaling $20,000. The principal balance due remaining under this Note after this conversion was $53,349.49. On July 19, 2018, the Company issued 1,200,000 shares of free–trading Common Stock of PHI Group, Inc. to Power Up Lending Group Ltd., holder of a Convertible Promissory Note dated January 18, 2018 of the Company, for the conversion of $15,000.00 of the principal amount of the Note. The principal balance due remaining under this Note after this conversion was $18,000.00. On July 23, 2018, the Company issued 1,805,607 shares of free–trading Common Stock of PHI Group, Inc. to Power Up Lending Group Ltd., holder of a Convertible Promissory Note dated January 18, 2018 of the Company, for the conversion of $18,000.00 of the principal amount of the Note, together with $1,320.00 accrued interest under the Note, totaling $19,320.00. This note was paid in full with this issuance of conversion shares. On July 26, 2018, the Company issued 4,260,531 shares of free–trading Common Stock of PHI Group, Inc. to JSJ Investments, Inc., holder of a Convertible Promissory Note dated January 18, 2018 of the Company, for the conversion of $40,000.00 of the principal amount of the Note. The principal balance due remaining under this Note after this conversion was $38,750.00. On July 27, 2018, the Company issued 3,356,444 shares of free-trading Common Stock of PHI Group, Inc. to Crown Bridge Partners, LLC., holder of the Common Stock Purchase Warrant dated as of October 26, 2017 by the Company, for the cashless exercise of $12,715.00 value of warrants. The total warrant value remaining after this exercise was $0.00. On July 30, 2018, the Company issued 2,061,856 shares of free–trading Common Stock of PHI Group, Inc. to Power Up Lending Group Ltd., holder of a Convertible Promissory Note dated January 26, 2018 of the Company, for the conversion of $20,000.00 of the principal amount of the Note. The principal balance due remaining under this Note after this conversion was $13,000.00. On August 02, 2018, the Company issued 1,491,667 shares of free–trading Common Stock of PHI Group, Inc. to Power Up Lending Group Ltd., holder of a Convertible Promissory Note dated January 26, 2018 of the Company, for the conversion of $13,000.00 of the principal amount of the Note together with $1,320.00 accrued interest under the Note, totaling $14,320.00. This note was paid in full with this issuance of conversion shares. On August 06, 2018, the Company issued 2,298,851 shares of free-trading Common Stock of PHI Group, Inc. to Einstein Investments, LLC, holder of the $115,000 Convertible Promissory Note dated November 24, 2017 of the Company, for the conversion of $14,207.67 principal amount together with $292.33 accrued interest under the Note and $500.00 of conversion fees, totaling $15,000. The principal balance due remaining under this Note after this conversion was $39,141.82. On August 17, 2018, the Company issued 6,971,290 shares of free–trading Common Stock of PHI Group, Inc. to JSJ Investments, Inc., holder of a Convertible Promissory Note dated January 18, 2018 of the Company, for the conversion of $38,750.00 of the principal amount of the Note together with $4,193.15 accrued interest. The principal balance due remaining under this Note after this conversion was $00.00. On August 23, 2018, the Company issued 2,205,882 shares of free–trading Common Stock of PHI Group, Inc. to Power Up Lending Group Ltd., holder of a Convertible Promissory Note dated February 22, 2018 of the Company, for the conversion of $15,000.00 of the principal amount of the Note. The principal balance due remaining under this Note after this conversion was $18,000.00. On August 27, 2018, the Company issued 3,066,667 shares of free–trading Common Stock of PHI Group, Inc. to Power Up Lending Group Ltd., holder of a Convertible Promissory Note dated February 22, 2018 of the Company, for the conversion of $18,000.00 of the principal amount of the Note together with $1,320.00 accrued interest under the Note, totaling $19,320.00. This note was paid in full with this issuance of conversion shares. On August 31, 2018, the Company issued 1,500,000 shares of free-trading Common Stock of PHI Group, Inc. to Auctus Fund, LLC, holder of a Convertible Promissory Note dated February 02, 2018 of the Company, for the conversion of $579.18 of the principal balance of the Note, together with $4,980.82 of accrued and unpaid interest and $500.00 conversion fee under the Note totaling $6,060.00. The principal balance due remaining under this Note after this conversion was $74,420.82. On August 31, 2018, the Company issued 500,000 shares of restricted common stock of the Company to Redchip Companies LLC and 500,000 shares of restricted common stock of the Company to SRS Consulting Ltd. for consulting services at the price of $0.01 per share. On September 06, 2018, the Company issued 1,022,913 shares of free-trading Common Stock of PHI Group, Inc. to Adar Bays LLC, holder of a Convertible Promissory Note dated February 13, 2018 of the Company, for the conversion of $5,000.00 of the principal amount of the Note. The principal balance due remaining under this Note after this conversion was $55,000.00. On September 20, 2018, the Company issued 1,734,105 shares of free-trading Common Stock of PHI Group, Inc. to Einstein Investments, LLC, holder of the $115,000 Convertible Promissory Note dated November 24, 2017 of the Company, for the conversion of $6,517.43 principal amount of the Note together with $482.57 accrued interest under the Note and $500.00 of conversion fees, totaling $7,500. The principal balance due remaining under this Note after this conversion was $32,624.39. On September 21, 2018, the Company issued 1,500,000 shares of free-trading Common Stock of PHI Group, Inc. to Auctus Fund, LLC, holder of a Convertible Promissory Note dated February 02, 2018 of the Company, for the conversion of $4,110.66 of the principal balance of the Note, together with $489.34 of accrued and unpaid interest and $500.00 conversion fee under the Note totaling $5,100.00. The principal balance due remaining under this Note after this conversion was $70,310.16. On September 26, 2018, the Company issued 164,722 shares of restricted common stock of the Company under the auspices of Rule 144 to Andreas Held for $1,334.25 cash payment. ISSUANCE OF NEW SHORT-TERM PROMISSORY NOTES On July 05, 2018, the Company received $25,5000 net proceeds from a tranche of $30,000 in connection with a master issued Crown Bridge Partners, LLC on April 2, 2018 and On July 10, 2018, the Company Power Up Lending Group discount and a prepayment premium of 150%. On July 17, 2018, the Company Auctus Fund LLC and On July 23, 2018, the Company One44 Capital LLC and On August 06, 2018, the Company Power Up Lending Group discount and a prepayment premium of 150%. On August 30, 2018, the Company Power Up Lending Group discount and a prepayment premium of 150%. On September 20, 2018, the Company received $25,000 from Tam Bui, a director of the Company, as a short-term loan to be paid on demand. The interest on the loan is pegged to the interest rate for cash advance with American Express. On September 21, 2018, the Company received $75,000 from Tristina Lam from a note with a face value of $80,000 secured by deed of trust of realty held by the President of the Company. This note is due and payable on November 21, 2018. On September 25, 2018, the Company Power Up Lending Group discount and a prepayment premium of 150%. On September 26, 2018, the Company JSJ Investments, Inc. and and a prepayment premium of 150%. The maturity date of this note is 9/26/2019. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Jun. 30, 2018 | |
Accounting Policies [Abstract] | |
Principles of Consolidation | PRINCIPLES OF CONSOLIDATION The consolidated financial statements include the accounts of PHI Group, Inc., its wholly owned subsidiaries PHI Capital Holdings, Inc., Abundant Farms, Inc., American Pacific Resources, Inc., and PHI Group Regional Center, LLC as well as its discontinued operations Providential Securities, Inc., PHI Energy Corporation, PHI Gold Corp, Providential Vietnam Ltd. and Philand Ranch Limited (including its 100% owned subsidiary Philand Corporation and Philand Vietnam Ltd), Omni Resources, Inc., and Cornerstone Biomass Corp., collectively referred to as the “Company.” All significant inter-company transactions have been eliminated in consolidation. |
Use of Estimates | USE OF ESTIMATES The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
Cash and Cash Equivalents | CASH AND CASH EQUIVALENTS The Company considers all liquid investments with a maturity of three months or less from the date of purchase that are readily convertible into cash to be cash equivalents. |
Marketable Securities | MARKETABLE SECURITIES The Company’s securities are classified as available-for-sale and, as such, are carried at fair value. Securities classified as available-for-sale may be sold in response to changes in interest rates, liquidity needs, and for other purposes. Each investment in marketable securities typically represents less than twenty percent (20%) of the outstanding common stock and stock equivalents of the investee, and each security is quoted on a national exchange or on the OTC Markets. As such, each investment is accounted for in accordance with the provisions of ASC 320 (previously SFAS No. 115). Unrealized holding gains and losses for available-for-sale securities are excluded from earnings and reported as a separate component of stockholder’s equity. Realized gains and losses for securities classified as available-for-sale are reported in earnings based upon the adjusted cost of the specific security sold. On June 30, 2018 and 2017 the marketable securities have been recorded at $1,100,483 and $502,696, respectively based upon the fair value of the marketable securities at that time. |
Accounts Receivable | ACCOUNTS RECEIVABLE Management reviews the composition of accounts receivable and analyzes historical bad debts. As of June 30, 2018, the Company had $432,000 in accounts receivable. |
Impairment of Long-Lived Assets | IMPAIRMENT OF LONG-LIVED ASSETS Effective January 1, 2002, the Company adopted ASC 350 (Previously SFAS 144, “Accounting for the Impairment or Disposal of Long-Lived Assets”), which addresses financial accounting and reporting for the impairment or disposal of long-lived assets and supersedes SFAS No. 121, “Accounting for the Impairment of Long-Lived Assets and for Long-Lived Assets to be Disposed Of,” and the accounting and reporting provisions of APB Opinion No. 30, “Reporting the Results of Operations for a Disposal of a Segment of a Business.” The Company periodically evaluates the carrying value of long-lived assets to be held and used in accordance with ASC 350. ASC 350 requires impairment losses to be recorded on long-lived assets used in operations when indicators of impairment are present and the undiscounted cash flows estimated to be generated by those assets are less than the assets’ carrying amounts. In that event, a loss is recognized based on the amount by which the carrying amount exceeds the fair market value of the long-lived assets. Loss on long-lived assets to be disposed of is determined in a similar manner, except that fair market values are reduced for the cost of disposal. |
Property and Equipment | PROPERTY AND EQUIPMENT Property and equipment are stated at cost. Maintenance and repair costs are charged to expense as incurred; costs of major additions and betterments are capitalized. When property and equipment are sold or otherwise disposed of, the cost and related accumulated depreciation are eliminated from the accounts and any resulting gain or loss is reflected in income. Depreciation is computed using the straight-line method over the estimated useful lives of the assets, ranging from three to ten years. |
Depreciation and Amortization | DEPRECIATION AND AMORTIZATION The cost of property and equipment is depreciated over the estimated useful lives of the related assets. Depreciation and amortization of fixed assets are computed on a straight-line basis. |
Net Earnings (Loss) Per Share | NET EARNINGS (LOSS) PER SHARE The Company adopted the provisions of ASC 260 (previously SFAS 128). ASC 260 eliminates the presentation of primary and fully diluted earnings per share (“EPS”) and requires presentation of basic and diluted EPS. Basic EPS is computed by dividing income (loss) available to common stockholders by the weighted-average number of common shares outstanding for the period. Diluted EPS is based on the weighted-average number of shares of common stock outstanding for the period and common stock equivalents outstanding at the end of the period. The net earnings (loss) per share is computed as follows: 2018 2017 Basic and diluted net loss per share: Numerator: Net income (loss) $ (2,026,320 ) $ (1,560,718 ) Denominator: Basic weighted average number of common shares outstanding 72,797,797 15,553,354 Basic net income (loss) per share $ (0.03 ) $ (0.10 ) Diluted weighted average number of common shares outstanding 72,797,797 15,553,354 Diluted net income (loss) per share $ (0.03 ) $ (0.10 ) |
Stock-Based Compensation | STOCK-BASED COMPENSATION Effective July 1, 2006, the Company adopted ASC 718-10-25 (previously SFAS 123R) and accordingly has adopted the modified prospective application method. Under this method, ASC 718-10-25 is applied to new awards and to awards modified, repurchased, or cancelled after the effective date. Additionally, compensation cost for the portion of awards that are outstanding as of the date of adoption for which the requisite service has not been rendered (such as unvested options) is recognized over a period of time as the remaining requisite services are rendered. |
Fair Value of Financial Instruments | FAIR VALUE OF FINANCIAL INSTRUMENTS Fair Value - Definition and Hierarchy Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Assets and liabilities measured at fair value are categorized based on whether or not the inputs are observable in the market and the degree that the inputs are observable. The categorization of financial assets and liabilities within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. A fair value hierarchy for inputs is used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs are to be used when available. Valuation techniques that are consistent with the market or income approach are used to measure fair value. The fair value hierarchy is categorized into three levels based on the inputs as follows: Level Level Level 3 Fair value is a market-based measure, based on assumptions of prices and inputs considered from the perspective of a market participant that are current as of the measurement date, rather than an entity-specific measure. Therefore, even when market assumptions are not readily available, the Company’s own assumptions are set to reflect those that market participants would use in pricing the asset or liability at the measurement date. The availability of valuation techniques and observable inputs can vary from investment to investment and are affected by a wide variety of factors, including; type of investment, whether the investment is new and not yet established in the marketplace, the liquidity of markets, and other characteristics particular to the transaction. To the extent that valuation is based upon models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Because of the inherent uncertainty of valuation, those estimated values may be materially higher or lower than the values that would have been used had a ready market for the investments existed. Accordingly, the degree of judgment exercised by the Fund in determining fair value is greatest for investments categorized in Level 3. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, the level in the fair value hierarchy in which the fair value measurement falls in its entirety is determined based upon the lowest level input that is significant to the fair value measurement. Fair Value - Valuation Techniques and Inputs The Company holds and may invest public securities traded on public exchanges or over-the-counter (OTC), private securities, real estate, convertible securities, interest bearing securities and other types of securities and has adopted specific techniques for their respective valuations. Equity Securities in Public Companies Unrestricted The Company values investments in securities that are freely tradable and listed on major securities exchanges at their last reported sales price as of the valuation date. To the extent these securities are actively traded and valuation adjustments are not applied, they are categorized in Level 1 of the fair value hierarchy. Securities traded on inactive markets or valued by reference to similar instruments are generally categorized in Level 2 or 3 of the fair value hierarchy. Restricted Securities traded on public exchanges or over-the-counter (OTC) where there are formal restrictions that limit (i.e. Rule 144 holding periods and underwriter’s lock-ups) their sale shall be valued at the closing price on the date of valuation less applicable discounts. The Company may apply a discount to securities with Rule 144 restrictions. Additional discounts may be assessed if the Company believes there are other mitigating factors which warrant the additional discounting. When determining potential additional discounts, factors that will be taken into consideration include, but are not limited to; securities’ trading characteristics, volume, length and overall impact of the restriction as well as other macro-economic factors. Valuations should be discounted appropriately until the securities may be freely traded. If it has been determined that the exchange or OTC listed price does not accurately reflect fair market value, the Company may elect to treat the security as a private company and apply an alternative valuation method. Investments in restricted securities of public companies may be included in Level 2 of the fair value hierarchy. However, to the extent that significant inputs used to determine liquidity discounts are not observable, investments in restricted securities in public companies may be categorized in Level 3 of the fair value hierarchy. The Company’s financial instruments primarily consist of cash and cash equivalents, accounts receivable, marketable securities, short-term notes payable, convertible notes, derivative liability and accounts payable. As of the balance sheet dates, the estimated fair values of the financial instruments were not materially different from their carrying values as presented on the balance sheet. This is primarily attributed to the short maturities of these instruments. Effective July 1, 2008, the Company adopted ASC 820 (previously SFAS 157), Fair Value Measurements Assets measured at fair value on a recurring basis are summarized below. The Company also has convertible notes and derivative liabilities as disclosed in this report that are measured at fair value on a regular basis until paid off or exercised. The Company uses various approaches to measure fair value of available-for-sale securities, while applying the three-level valuation hierarchy for disclosures, specified in ASC 820. Our Level 1 securities were measured using the quoted prices in active markets for identical assets and liabilities. The company’s policy regarding the transfers in and/or out of Level 3 depends on the trading activity of the security, the volatility of the security, and other observable units which clearly represents the fair value of the security. If a level 3 security can be measured using a more fairly represented fair value, we will transfer these securities either into Level 1 or Level 2, depending on the type of inputs. |
Revenue Recognition Standards | REVENUE RECOGNITION STANDARDS ASC 606-10 provides the following overview of how revenue is recognized from an entity’s contracts with customers: An entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Step 1: Identify the contract(s) with a customer. Step 2: Identify the performance obligations in the contract. Step 3: Determine the transaction price – The transaction price is the amount of consideration in a contract to which an entity expects to be entitled in exchange for transferring promised goods or services to a customer. Step 4: Allocate the transaction price to the performance obligations in the contract – Any entity typically allocates the transaction price to each performance obligation on the basis of the relative standalone selling prices of each distinct good or service promised in the contract. Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation – An entity recognizes revenue when (or as) it satisfies a performance obligation by transferring a promised good or service to a customer (which is when the customer obtains control of that good or service). The amount of revenue recognized is the amount allocated to the satisfied performance obligation. A performance obligation may be satisfied at a point in time (typically for promises to transfer goods to a customer) or over time (typically for promises to transfer service to a customer). For performance obligations satisfied over time, an entity recognizes revenue over time by selecting an appropriate method for measuring the entity’s progress toward complete satisfaction of that performance obligation. (Paragraphs 606-10 25-23 through 25-30). In addition, ASC 606-10 contains guidance on the disclosures related to revenue, and notes the following: It also includes a cohesive set of disclosure requirements that would result in an entity providing users of financial statements with comprehensive information about the nature, amount, timing, and uncertainty of revenue and cash flows arising from the entity’s contracts with customers. Specifically, Section 606-10-50 requires an entity to provide information about: - Revenue recognized from contracts with customers, including disaggregation of revenue into appropriate categories. - Contract balances, including the opening and closing balances of receivables, contract assets, and contract liabilities. - Performance obligations, including when the entity typically satisfies its performance obligations and the transaction prices is that is allocated to the remaining performance obligations in a contract. - Significant judgments, and changes in judgments, made in applying the requirements to those contracts. Additionally, Section 340-40-50 requires an entity to provide quantitative and/or qualitative information about assets recognized from the costs to obtain or fulfill a contract with a customer. The Company’s revenue recognition policies are in compliance with ASC 606-10. The Company recognizes consulting and advisory fee revenues in accordance with the above-mentioned guidelines and expenses are recognized in the period in which the corresponding liability is incurred. |
Advertising | ADVERTISING The Company expenses advertising costs as incurred. Advertising costs for the years ended June 30, 2018 and 2017 were $36,221 and $31,413, respectively. The increase in advertising expenses in the current year is primarily due to an increase of $4,808 in investor relations expenses during the fiscal year ended June 30, 2018, as compared to the previous fiscal year. |
Comprehensive Income (Loss) | COMPREHENSIVE INCOME (LOSS) ASC 220-10-45 (previously SFAS 130, Reporting Comprehensive Income) establishes standards for reporting and display of comprehensive income, its components and accumulated balances. Comprehensive income is defined to include all changes in equity, except those resulting from investments by owners and distributions to owners. Among other disclosures, SFAS No. 130 requires that all items that are required to be recognized under current accounting standards as components of comprehensive income be reported in a financial statement that is displayed with the same prominence as other financial statements. As of June 30, 2018 and 2017, respectively, accumulated other comprehensive incomes of $751,962 and $153,474 are presented on the accompanying consolidated balance sheets. |
Income Taxes | INCOME TAXES The Company accounts for income taxes in accordance with ASC 740 (previously SFAS No. 109, “Accounting for Income Taxes”). Deferred taxes are provided on the liability method whereby deferred tax assets are recognized for deductible temporary differences, and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax bases. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. |
Reporting of Segments | REPORTING OF SEGMENTS ASC 280 (previously Statement of Financial Accounting Standards No. 131, Disclosures about Segments of an Enterprise and Related Information), which supersedes Statement of Financial Accounting Standards No. 14, Financial Reporting for Segments of a Business Enterprise, establishes standards for the way that public enterprises report information about operating segments in annual financial statements and requires reporting of selected information about operating segments in interim financial statements regarding products and services, geographic areas and major customers. ASC 280 defines operating segments as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing performance. The Company operated in two segments that generated revenues during the year ended June 30, 2018 and one segment in the year ended June 30, 2017. |
Risks and Uncertainties | RISKS AND UNCERTAINTIES In the normal course of business, the Company is subject to certain risks and uncertainties. The Company provides its service and receives marketable securities upon execution of transactions. Consequently, the value of the securities received from customers can be affected by economic fluctuations and each customer’s business growth. The actual realized value of these securities could be significantly different than recorded value. |
Recent Accounting Pronouncements | RECENT ACCOUNTING PRONOUNCEMENTS Update No. 2018-13 – August 2018 Fair Value Measurement (Topic 820): Changes to the Disclosure Requirements for Fair Value Measurement Modifications: The following disclosure requirements were modified in Topic 820: 1. In lieu of a rollforward for Level 3 fair value measurements, a nonpublic entity is required to disclose transfers into and out of Level 3 of the fair value hierarchy and purchases and issues of Level 3 assets and liabilities. 2. For investments in certain entities that calculate net asset value, an entity is required to disclose the timing of liquidation of an investee’s assets and the date when restrictions from redemption might lapse only if the investee has communicated the timing to the entity or announced the timing publicly. 3. The amendments clarify that the measurement uncertainty disclosure is to communicate information about the uncertainty in measurement as of the reporting date. Additions: The following disclosure requirements were added to Topic 820; however, the disclosures are not required for nonpublic entities: 1. The changes in unrealized gains and losses for the period included in other comprehensive income for recurring Level 3 fair value measurements held at the end of the reporting period. 2. The range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements. For certain unobservable inputs, an entity may disclose other quantitative information (such as the median or arithmetic average) in lieu of the weighted average if the entity determines that other quantitative information would be a more reasonable and rational method to reflect the distribution of unobservable inputs used to develop Level 3 fair value measurements. The amendments in this Update are effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. Update No. 2018-07 – June 2018 Compensation – Stock Compensation (Topic 718) Improvements to Nonemployee Share-Based Payment Accounting Main Provisions: The amendments in this Update expand the scope of Topic 718 to include sharebased 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. T h e Co mp a n y h as e i t h e r eva l ua t e d o r i s c u rr e n t l y eva luat i n g th e im p licat io n s , i f a n y, o f eac h o f these p ro n o unc e m e n t s a nd th e p oss ibl e impac t th ey m ay h ave o n t h e Co m pa n y ’ s f i n a n c i al s t a t e m e nt s . In m os t ca ses, m a n age m e nt h as d e t e rmin e d t h a t t h e i mpl e m e nt a ti o n of these pronouncements wo uld n ot h ave a m a t er i al imp ac t o n t h e financi a l s t a te m e nt s t a k e n as a w h o l e. |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Jun. 30, 2018 | |
Accounting Policies [Abstract] | |
Schedule of Net Earnings (Loss) Per Share | The net earnings (loss) per share is computed as follows: 2018 2017 Basic and diluted net loss per share: Numerator: Net income (loss) $ (2,026,320 ) $ (1,560,718 ) Denominator: Basic weighted average number of common shares outstanding 72,797,797 15,553,354 Basic net income (loss) per share $ (0.03 ) $ (0.10 ) Diluted weighted average number of common shares outstanding 72,797,797 15,553,354 Diluted net income (loss) per share $ (0.03 ) $ (0.10 ) |
Loans Receivable (Tables)
Loans Receivable (Tables) | 12 Months Ended |
Jun. 30, 2018 | |
Receivables [Abstract] | |
Schedule of Loans Receivable | Loans receivable consist of the following at June 30, 2018 and 2017: Loans Receivable June 30, 2018 June 30, 2017 Loan to American Laser Healthcare, Inc. $ 1,605 $ - Total $ 1,605 $ - |
Other Assets (Tables)
Other Assets (Tables) | 12 Months Ended |
Jun. 30, 2018 | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | |
Schedule of Other Assets | The Other Assets comprise of the following as of June 30, 2018 and 2017: 2018 2017 Investments $ 25,005,000 $ - Contract Assets $ 697,841 $ - Total Other Assets $ 27,424,139 $ - |
Marketable Equity Securities _2
Marketable Equity Securities Available for Sale (Tables) | 12 Months Ended |
Jun. 30, 2018 | |
Investments, Debt and Equity Securities [Abstract] | |
Schedule of Fair Value of Investments Marketable Equity Securities | The fair value of the marketable securities recorded as of June 30, 2018 was $1,100,483. Securities available for sale Level 1 Level 2 Level 3 Total June 30, 2018 - $ 253,538 $ 846,945 $ 1,100,483 June 30, 2017 $ - $ 210,646 $ 292,050 $ 502,696 |
Current Liabilities (Tables)
Current Liabilities (Tables) | 12 Months Ended |
Jun. 30, 2018 | |
Payables and Accruals [Abstract] | |
Schedule of Current Liabilities | Current liabilities of the Company consist of the followings as of June 30, 2018 and 2017: June 30, 2018 June 30, 2017 Accounts payable $ 116,063 $ 159,875 Accrued expenses $ 392,205 $ 384,929 Short-term notes payable $ 1,336,552 $ 873,008 Due to officers $ 233,577 $ 592,141 Other current payable $ 92,781 - Contract liabilities $ 697,841 - Client deposit $ - $ 780 Derivative liabilities $ 738,814 $ 545,756 |
Long-Term Liabilities (Tables)
Long-Term Liabilities (Tables) | 12 Months Ended |
Jun. 30, 2018 | |
Debt Disclosure [Abstract] | |
Schedule of Long-Term Liabilities | As of June 30, 2018 and 2017, Long-term liabilities consist of: June 30, 2018 June 30, 2017 Accrued Expenses: $ 1,063,481 $ 1,462,836 Accrued Interest: $ 2,005,815 $ 2,715,963 Advances from Customers: $ 288,219 $ 288,219 Demand Promissory Note: $ 24,048,500 - Liabilities from Discontinued Operations: $ 1,040,037 $ 1,040,037 Preferred Stock Liabilities from Discontinued Operations: $ 215,000 $ 215,000 |
Due to Officers And Directors (
Due to Officers And Directors (Tables) | 12 Months Ended |
Jun. 30, 2018 | |
Related Party Transactions [Abstract] | |
Components of Due to Officers and Directors | Officers/Directors June 30, 2018 June 30, 2017 Henry Fahman 157,727 511,291 Tam Bui 63,350 63,350 Frank Hawkins - 5,000 Lawrence Olson 12,500 12,500 Total $ 233,577 $ 592,141 |
Stock-Based Compensation Plan (
Stock-Based Compensation Plan (Tables) | 12 Months Ended |
Jun. 30, 2018 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Schedule of Fair Value of Stock Option Assumptions | The following assumptions were used in the Monte Carlo analysis by Doty Scott Enterprises, Inc., an independent valuation firm, to determine the fair value of the stock options: Risk-free interest rate 1.18 % Expected life 7 years Expected volatility 239.3 % |
Schedule of Fair Value of Stock Option Issuance Date | The fair value of the Company’s Stock Options as of issuance valuation date is as follows: Holder Issue Date Maturity Date Stock Options Exercise Price Fair Value at Issuance Tam Bui 9/23/2016 9/23/2023 875,000 Fixed price: $0.24 $ 219,464 Frank Hawkins 9/23/2016 9/23/2023 875,000 Fixed price: $0.24 $ 219,464 Henry Fahman 9/23/2016 9/23/2023 4,770,000 Fixed price: $0.24 $ 1,187,984 |
Other Income (Expense) (Tables)
Other Income (Expense) (Tables) | 12 Months Ended |
Jun. 30, 2018 | |
Other Income and Expenses [Abstract] | |
Schedule of Other Income (Expense) | Net Other Income (Expense) for the fiscal year ended June 30, 2018 consists of the following: OTHER INCOME (EXPENSES) FY ended June 30, 2018 Interest expense (1,352,736 ) Loss on loan/note conversions (94,539 ) Loss on debt settlement (92,781 ) Prepayment premium (164,272 ) Write-offs (77,500 ) Loss on issuance of stock (9,310 ) Accrual for Preferred Stock Dividends (4,681 ) Net miscellaneous other income/expense (194 ) NET OTHER INCOME (EXPENSES) $ (1,796,013 ) |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies (Details Narrative) | 12 Months Ended | |
Jun. 30, 2018USD ($)d | Jun. 30, 2017USD ($)d | |
Percentage of ownership | 51.00% | |
Maximum percentage of outstanding common stock and stock equivalents of investee | 20.00% | |
Marketable securities | $ 1,100,483 | $ 502,696 |
Accounts receivable | 432,000 | |
Advertising costs | 36,221 | 31,413 |
Increase in advertising expenses | 4,808 | |
Accumulated other comprehensive income | $ 751,962 | $ 153,474 |
Number of reportable segment | d | 2 | 1 |
Minimum [Member] | ||
Property and equipment, estimated useful lives of assets | 3 years | |
Maximum [Member] | ||
Property and equipment, estimated useful lives of assets | 10 years | |
Philand Corporation and Philand Vietnam Ltd [Member] | ||
Percentage of ownership | 100.00% |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies - Schedule of Net Earnings (Loss) Per Share (Details) - USD ($) | 12 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Accounting Policies [Abstract] | ||
Net income (loss) | $ (2,026,320) | $ (1,560,718) |
Basic weighted average number of common shares outstanding | 72,797,797 | 15,553,354 |
Basic net income (loss) per share | $ (0.03) | $ (0.10) |
Diluted weighted average number of common shares outstanding | 72,797,797 | 15,553,354 |
Diluted net income (loss) per share | $ (0.03) | $ (0.10) |
Loans Receivable - Schedule of
Loans Receivable - Schedule of Loans Receivable (Details) - USD ($) | Jun. 30, 2018 | Jun. 30, 2017 |
Loans receivable from related parties | $ 1,605 | |
American Laser Healthcare, Inc [Member] | ||
Loans receivable from related parties | $ 1,605 |
Other Assets (Details Narrative
Other Assets (Details Narrative) | 12 Months Ended | |||
Jun. 30, 2018USD ($)a | Jun. 30, 2017USD ($) | Mar. 31, 2018ha | Oct. 06, 2017USD ($) | |
Investments | $ 25,005,000 | |||
Percentage of ownership | 51.00% | |||
Area of land | 400 | 2,000 | ||
Contract assets | $ 697,841 | |||
Revenue | 1,672,659 | $ 113,500 | ||
March 27, 2018 [Member] | ||||
Contract assets | 2,000,000 | |||
Revenue | 1,212,159 | |||
AQuarius Power Inc [Member] | ||||
Investments | 5,000 | $ 5,000 | ||
American Pacific Resources, Inc [Member] | ||||
Acquisition purchase price paid | $ 25,000,000 |
Other Assets - Schedule of Othe
Other Assets - Schedule of Other Assets (Details) - USD ($) | Jun. 30, 2018 | Jun. 30, 2017 |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | ||
Investments | $ 25,005,000 | |
Contract Assets | 697,841 | |
Total Other Assets | $ 27,424,139 |
Marketable Equity Securities _3
Marketable Equity Securities Available for Sale (Details Narrative) - USD ($) | Jun. 30, 2018 | Jun. 30, 2017 |
Maximum percentage of outstanding common stock and stock equivalents of investee | 20.00% | |
Marketable securities, fair value | $ 1,100,483 | $ 502,696 |
Myson Group, Inc [Member] | OTC Markets [Member] | ||
Number of marketable securities available for sale | 33,805,106 | |
Sports Pouch Beverage Co [Member] | OTC Markets [Member] | ||
Number of marketable securities available for sale | 292,050,000 |
Marketable Equity Securities _4
Marketable Equity Securities Available for Sale - Schedule of Fair value of Investments Marketable Equity Securities (Details) - USD ($) | Jun. 30, 2018 | Jun. 30, 2017 |
Marketable securities | $ 1,100,483 | $ 502,696 |
Level 1 [Member] | ||
Marketable securities | ||
Level 2 [Member] | ||
Marketable securities | 253,538 | 210,646 |
Level 3 [Member] | ||
Marketable securities | $ 846,945 | $ 292,050 |
Property and Equipment (Details
Property and Equipment (Details Narrative) | Jun. 30, 2018a | Mar. 31, 2018ha |
Property, Plant and Equipment [Abstract] | ||
Percentage of ownership | 51.00% | |
Area of land | 400 | 2,000 |
Discontinued Operations (Detail
Discontinued Operations (Details Narrative) - USD ($) | 12 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Liabilities from discontinued operations | $ 1,040,037 | $ 1,040,037 |
Contingency liabilities | 85,700 | |
Philand Ranch Ltd [Member] | ||
Liabilities from discontinued operations | 954,337 | |
Providential Holdings, Inc [Member] | ||
Liabilities from discontinued operations | 215,000 | |
Discontinued Operations [Member] | ||
Liabilities from discontinued operations | $ 1,255,037 |
Current Liabilities (Details Na
Current Liabilities (Details Narrative) - USD ($) | 12 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Accrued salaries & Accrued payroll tax liabilities current | $ 238,165 | |
Accrued interest from short term notes | 21,227 | |
Contract liabilities | 697,841 | |
Revenues | 1,672,659 | $ 113,500 |
March 27, 2018 [Member] | ||
Contract liabilities | 2,000,000 | |
Revenues | 1,212,159 | |
Class A Series II Preferred Stock [Member] | ||
Dividend payable | 4,681 | |
Short-term Notes [Member] | ||
Accrued interest from short term notes | $ 149,359 |
Current Liabilities - Schedule
Current Liabilities - Schedule of Current Liabilities (Details) - USD ($) | Jun. 30, 2018 | Jun. 30, 2017 |
Payables and Accruals [Abstract] | ||
Accounts payable | $ 116,063 | $ 159,875 |
Accrued expenses | 392,205 | 384,929 |
Short-term notes payable | 1,336,552 | 873,008 |
Due to officers | 233,577 | 592,141 |
Other current payable | 92,781 | |
Contract liabilities | 697,841 | |
Client deposit | 780 | |
Derivative liabilities | $ 738,814 | $ 454,756 |
Long-Term Liabilities (Details
Long-Term Liabilities (Details Narrative) | 12 Months Ended | |||||
Jun. 30, 2018USD ($)a | Dec. 14, 2018USD ($) | Mar. 31, 2018ha | Dec. 01, 2017USD ($) | Nov. 08, 2017USD ($) | Jun. 30, 2017USD ($) | |
Long term accrued expenses | $ 698,653 | |||||
Accrued legal fees | 172,091 | |||||
Consulting fees | 165,850 | |||||
Other accrued expenses | 26,888 | |||||
Accrued interest from notes payable, long term | 2,005,815 | |||||
Advances from customers | $ 288,219 | $ 288,219 | ||||
Debt face amount | $ 10,977 | $ 15,765 | $ 21,709 | |||
Area of land | 400 | 2,000 | ||||
Convertible promissory note | $ 24,048,500 | |||||
Liabilities from discontinued operations | 1,040,037 | $ 1,040,037 | ||||
Long term liability | 215,000 | |||||
Rush Gold Royalty, Inc [Member] | ||||||
Debt face amount | $ 24,310,400 | |||||
Debt interest rate | 51.00% | |||||
Area of land | a | 400 |
Long-Term Liabilities - Schedul
Long-Term Liabilities - Schedule of Long-Term Liabilities (Details) - USD ($) | Jun. 30, 2018 | Jun. 30, 2017 |
Debt Disclosure [Abstract] | ||
Accrued Expenses: | $ 1,063,481 | $ 1,462,836 |
Accrued Interest: | 2,005,815 | 2,715,963 |
Advances from Customers: | 288,219 | 288,219 |
Demand Promissory Note: | 24,048,500 | |
Liabilities from Discontinued Operations: | 1,040,037 | 1,040,037 |
Preferred Stock Liabilities from Discontinued Operations: | $ 215,000 | $ 215,000 |
Due to Officers and Directors_2
Due to Officers and Directors (Details Narrative) - USD ($) | Jun. 30, 2018 | Jun. 30, 2017 |
Related Party Transactions [Abstract] | ||
Due to officers | $ 233,577 | $ 592,141 |
Due to Officers and Directors -
Due to Officers and Directors - Components of Due to Officers and Directors (Details) - USD ($) | Jun. 30, 2018 | Jun. 30, 2017 |
Due to Officers/Directors | $ 233,577 | $ 592,141 |
Henry Fahman [Member] | ||
Due to Officers/Directors | 157,727 | 511,291 |
Tam Bui [Member] | ||
Due to Officers/Directors | 63,350 | 63,350 |
Frank Hawkins [Member] | ||
Due to Officers/Directors | 5,000 | |
Lawrence Olson [Member] | ||
Due to Officers/Directors | $ 12,500 | $ 12,500 |
Loans and Promissory Notes (Det
Loans and Promissory Notes (Details Narrative) | Jun. 25, 2018USD ($)d | Jun. 21, 2018USD ($)$ / sharesshares | Jun. 12, 2018USD ($)d | Jun. 04, 2018USD ($)shares | May 29, 2018USD ($)shares | Apr. 24, 2018USD ($)shares | Apr. 23, 2018USD ($)shares | Apr. 19, 2018USD ($)shares | Apr. 17, 2018USD ($) | Apr. 10, 2018USD ($)d | Apr. 02, 2018USD ($)d | Mar. 21, 2018USD ($)d | Feb. 28, 2018USD ($)shares | Feb. 22, 2018USD ($)d | Feb. 08, 2018USD ($)shares | Feb. 05, 2018USD ($) | Feb. 02, 2018USD ($)d | Feb. 01, 2018USD ($)d | Jan. 31, 2018USD ($)d | Jan. 30, 2018USD ($) | Jan. 29, 2018USD ($)shares | Jan. 26, 2018USD ($)d | Jan. 18, 2018USD ($) | Jan. 18, 2018USD ($)d | Jan. 11, 2018USD ($)shares | Jan. 09, 2018USD ($)shares | Jan. 08, 2018USD ($)shares | Dec. 29, 2017USD ($)shares | Dec. 20, 2017USD ($)shares | Dec. 14, 2017USD ($)shares | Dec. 13, 2017USD ($)shares | Dec. 05, 2017USD ($)shares | Dec. 01, 2017USD ($)shares | Nov. 24, 2017USD ($)d | Nov. 08, 2017USD ($)shares | Oct. 31, 2017USD ($)shares | Oct. 26, 2017USD ($)d$ / sharesshares | Oct. 23, 2017USD ($)shares | Oct. 19, 2017USD ($)shares | Oct. 18, 2017USD ($)d | Oct. 17, 2017USD ($)shares | Aug. 24, 2017USD ($) | Jul. 21, 2017USD ($)shares | Jul. 17, 2017USD ($)shares | Jul. 11, 2017USD ($)shares | Jul. 05, 2017USD ($)shares | Jun. 30, 2018USD ($)d | Dec. 14, 2018USD ($) | Aug. 15, 2017USD ($) | Aug. 03, 2017USD ($) | Jul. 24, 2017USD ($) | Jul. 20, 2017USD ($) | Jun. 30, 2017USD ($) |
Short-term notes payable | $ 1,336,552 | $ 873,008 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Debt face amount | $ 15,765 | $ 21,709 | $ 10,977 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued and unpaid interest included in prepayment | $ 21,227 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument convertible trading days | d | 5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible promissory note | $ 24,048,500 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion of common stock, value | 94,539 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Outstanding convertible note | 834,699 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Discount on notes | 301,457 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative liabilities - Net | $ 738,814 | $ 454,756 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Power Up Lending Group, Ltd [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of interest per annum on short-term notes payable | 8.00% | 8.00% | 8.00% | 8.00% | 8.00% | 8.00% | 10.00% | 8.00% | |||||||||||||||||||||||||||||||||||||||||||||
Debt face amount | $ 33,000 | $ 33,000 | $ 33,000 | $ 33,000 | $ 33,000 | $ 53,000 | $ 0 | $ 6,580 | $ 14,500 | $ 33,000 | $ 28,000 | ||||||||||||||||||||||||||||||||||||||||||
Common stock debt discount, percentage | 42.00% | 42.00% | 42.00% | 42.00% | 42.00% | 42.00% | 42.00% | 42.00% | |||||||||||||||||||||||||||||||||||||||||||||
Payments of convertible promissory notes | $ 43,611 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Prepayment of promissory notes include principal amount | $ 16,667 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Prepayment premium | 8,333 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued and unpaid interest included in prepayment | $ 2,120 | $ 2,010 | $ 1,375 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Debt maturity date | Jan. 30, 2019 | Nov. 30, 2018 | Nov. 15, 2018 | Oct. 10, 2018 | Jul. 20, 2018 | ||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument payment for premium and accrued interest | $ 51,301 | $ 43,611 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument convertible trading days | d | 10 | 10 | 10 | 10 | 10 | ||||||||||||||||||||||||||||||||||||||||||||||||
Convertible promissory note | $ 3,453 | 25,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion of common stock shares issued | shares | 295,156 | 1,127,820 | 1,169,591 | 419,212 | 622,407 | 434,783 | 1,019,872 | 880,000 | 740,741 | ||||||||||||||||||||||||||||||||||||||||||||
Debt conversion of common stock, value | $ 133,333 | $ 15,000 | $ 20,000 | $ 6,500 | $ 15,000 | $ 12,000 | $ 7,955 | $ 7,920 | $ 10,000 | ||||||||||||||||||||||||||||||||||||||||||||
Debt principal amount after conversion | $ 0 | $ 1,333 | $ 16,333 | $ 36,333 | |||||||||||||||||||||||||||||||||||||||||||||||||
JSJ Investments, Inc [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of interest per annum on short-term notes payable | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | |||||||||||||||||||||||||||||||||||||||||||||||
Debt face amount | $ 100,000 | $ 78,750 | $ 78,750 | $ 78,750 | $ 78,750 | $ 14,358 | $ 78,750 | ||||||||||||||||||||||||||||||||||||||||||||||
Common stock debt discount, percentage | 45.00% | 45.00% | 45.00% | 45.00% | 45.00% | 45.00% | |||||||||||||||||||||||||||||||||||||||||||||||
Payments of convertible promissory notes | $ 117,985 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Prepayment of promissory notes include principal amount | 78,750 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Prepayment premium | 35,438 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued and unpaid interest included in prepayment | $ 3,797 | $ 2,859 | $ 1,651 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Debt maturity date | Jun. 25, 2019 | Mar. 21, 2019 | Jan. 18, 2019 | Jan. 18, 2019 | |||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument convertible trading days | d | 20 | 20 | 20 | 20 | |||||||||||||||||||||||||||||||||||||||||||||||||
Convertible promissory note | $ 40,000 | $ 40,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion of common stock shares issued | shares | 2,601,957 | 2,913,837 | 2,250,821 | 1,385,677 | 371,057 | ||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion of common stock, value | $ 11,500 | $ 16,079 | $ 12,421 | $ 11,000 | $ 10,000 | ||||||||||||||||||||||||||||||||||||||||||||||||
Debt principal amount after conversion | $ 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
L G Capital [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of interest per annum on short-term notes payable | 8.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt face amount | $ 78,750 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock debt discount, percentage | 50.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument payment for premium and accrued interest | $ 122,656 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Crown Bridge Partners, LLC [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of interest per annum on short-term notes payable | 10.00% | 10.00% | 5.00% | 5.00% | |||||||||||||||||||||||||||||||||||||||||||||||||
Debt face amount | $ 55,000 | $ 55,000 | $ 35,000 | $ 50,000 | $ 10,150 | $ 9,750 | $ 8,050 | $ 35,000 | |||||||||||||||||||||||||||||||||||||||||||||
Common stock debt discount, percentage | 50.00% | 50.00% | 50.00% | 50.00% | |||||||||||||||||||||||||||||||||||||||||||||||||
Accrued and unpaid interest included in prepayment | $ 992 | 1,013 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Debt maturity date | Jun. 12, 2019 | Apr. 2, 2019 | Jan. 31, 2019 | Oct. 26, 2018 | |||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument convertible trading days | d | 20 | 20 | 20 | 20 | |||||||||||||||||||||||||||||||||||||||||||||||||
Convertible promissory note | $ 35,000 | $ 35,000 | $ 35,000 | $ 35,000 | 35,000 | $ 35,000 | |||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion of common stock shares issued | shares | 6,048,786 | 3,159,521 | 4,744,007 | 2,509,693 | 2,500,000 | 2,900,000 | 2,300,000 | ||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion of common stock, value | $ 36,492 | $ 8,238 | $ 9,563 | $ 9,650 | $ 7,550 | ||||||||||||||||||||||||||||||||||||||||||||||||
Debt principal amount after conversion | $ 0 | $ 17,800 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Number of warrants issued | shares | 87,500 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercise price per share | $ / shares | $ 22,285 | $ 0.40 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Einstein Investment LLC [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of interest per annum on short-term notes payable | 10.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt face amount | $ 115,500 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock debt discount, percentage | 50.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued and unpaid interest included in prepayment | $ 5,949 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt maturity date | Oct. 26, 2018 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument convertible trading days | d | 10 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible promissory note | $ 44,051 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion of common stock shares issued | shares | 3,149,607 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion of common stock, value | $ 44,051 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt principal amount after conversion | $ 71,449 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Adar Bays LLC [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of interest per annum on short-term notes payable | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt face amount | $ 60,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock debt discount, percentage | 50.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt maturity date | Feb. 1, 2019 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument convertible trading days | d | 25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Auctus Fund, LLC [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of interest per annum on short-term notes payable | 12.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt face amount | $ 75,000 | 7,343 | $ 3,485 | $ 32,613 | |||||||||||||||||||||||||||||||||||||||||||||||||
Common stock debt discount, percentage | 50.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued and unpaid interest included in prepayment | $ 98 | $ 138 | $ 203 | $ 3,356 | $ 1,666 | $ 0 | |||||||||||||||||||||||||||||||||||||||||||||||
Debt maturity date | Nov. 2, 2018 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument convertible trading days | d | 25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion of common stock shares issued | shares | 1,835,795 | 2,744,300 | 2,346,000 | 2,154,700 | 800,000 | ||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion of common stock, value | $ 6,746 | $ 10,340 | $ 15,063 | $ 17,852 | $ 5,152 | ||||||||||||||||||||||||||||||||||||||||||||||||
Debt principal amount after conversion | $ 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Minimum [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of interest per annum on short-term notes payable | 0.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Maximum [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of interest per annum on short-term notes payable | 36.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Short-term Notes Payable [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Short-term notes payable | $ 803,310 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest on notes payable | $ 2,133,947 |
Litigation (Details Narrative)
Litigation (Details Narrative) - USD ($) | Jul. 09, 2012 | Oct. 31, 2000 | May 31, 2011 | Jun. 30, 2018 | Feb. 01, 2010 |
Costs incurred in breach of contract for damages | $ 75,000 | ||||
Settlement agreement amount | $ 62,500 | ||||
Administrative costs | 4,500 | ||||
Legal costs | 2,500 | ||||
Accrued litigation amount | $ 140,491 | 79,000 | |||
Accrued potential liabilities | 172,091 | ||||
Promissory notes outstanding | $ 140,000 | ||||
Accrued Liabilities [Member] | |||||
Accrued potential liabilities | $ 90,000 | ||||
William Davidson [Member] | |||||
Settlement agreement amount | $ 200,000 |
Payroll Tax Liabilities (Detail
Payroll Tax Liabilities (Details Narrative) | 3 Months Ended |
Jun. 30, 2014USD ($) | |
Penalties, interest and tax | $ 118,399 |
Internal Revenue Service [Member] | |
Penalties, interest and tax | 41,974 |
State of California Employment Development Department [Member] | |
Penalties, interest and tax | $ 19,290 |
Stockholder's Equity (Details N
Stockholder's Equity (Details Narrative) | Jun. 26, 2018USD ($)shares | Jun. 25, 2018USD ($)d | Jun. 21, 2018USD ($)$ / sharesshares | Jun. 12, 2018USD ($)d | Jun. 04, 2018USD ($)shares | May 29, 2018USD ($)shares | Apr. 27, 2018USD ($)$ / sharesshares | Apr. 24, 2018USD ($)$ / sharesshares | Apr. 23, 2018USD ($)$ / sharesshares | Apr. 19, 2018USD ($)$ / sharesshares | Apr. 13, 2018USD ($)$ / sharesshares | Apr. 10, 2018USD ($)d | Apr. 02, 2018USD ($)d | Mar. 21, 2018USD ($)d | Feb. 28, 2018USD ($)shares | Feb. 22, 2018USD ($)d | Feb. 08, 2018USD ($)$ / sharesshares | Feb. 02, 2018USD ($)d | Jan. 31, 2018USD ($)d | Jan. 30, 2018USD ($)shares | Jan. 29, 2018USD ($)shares | Jan. 26, 2018USD ($)d | Jan. 25, 2018USD ($)shares | Jan. 18, 2018USD ($)d | Jan. 11, 2018USD ($)shares | Jan. 09, 2018USD ($)shares | Jan. 08, 2018USD ($)shares | Dec. 29, 2017USD ($)shares | Dec. 20, 2017USD ($)shares | Dec. 19, 2017USD ($)shares | Dec. 14, 2017USD ($)shares | Dec. 13, 2017USD ($)shares | Dec. 12, 2017USD ($)shares | Dec. 05, 2017USD ($)shares | Dec. 01, 2017USD ($)shares | Nov. 24, 2017USD ($)d | Nov. 21, 2017USD ($)shares | Nov. 16, 2017USD ($)shares | Nov. 08, 2017USD ($)shares | Nov. 07, 2017USD ($)shares | Oct. 31, 2017USD ($)shares | Oct. 26, 2017USD ($)d$ / shares | Oct. 24, 2017USD ($)shares | Oct. 23, 2017USD ($)shares | Oct. 19, 2017USD ($)shares | Oct. 18, 2017USD ($)d | Oct. 17, 2017USD ($)shares | Jul. 25, 2017USD ($)$ / sharesshares | Jul. 24, 2017USD ($) | Jul. 21, 2017USD ($)$ / sharesshares | Jul. 17, 2017USD ($)$ / sharesshares | Jul. 11, 2017USD ($)$ / sharesshares | Jul. 05, 2017USD ($)$ / sharesshares | Jun. 30, 2018USD ($)d$ / sharesshares | Jun. 30, 2017USD ($)$ / sharesshares | Dec. 14, 2018USD ($) | Apr. 17, 2018USD ($) | Oct. 03, 2017$ / shares | Sep. 20, 2017$ / sharesshares | Aug. 15, 2017USD ($) | Aug. 03, 2017USD ($) | Jul. 20, 2017USD ($) |
Number of authorized capital stock | shares | 2,000,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of authorized capital stock, par value | $ / shares | $ 0.001 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock voting, shares authorized | shares | 1,900,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock, par value | $ / shares | $ 0.001 | $ 0.001 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, shares authorized | shares | 100,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, par value | $ / shares | $ 0.001 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Treasury stock, shares | shares | 484,767 | 321,569 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Treasury stock, value | $ 44,170 | $ 40,908 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion of common stock, value | 94,539 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt convertible, principal amount | $ 15,765 | $ 21,709 | $ 10,977 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 21,227 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issued shares in cash, value | $ 20,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Conversion fee | $ 12,651 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible promissory note | $ 24,048,500 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock, shares issued | shares | 135,893,815 | 16,109,036 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock, shares outstanding | shares | 135,893,815 | 16,109,036 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt description | Each share of the Class A Preferred Stock, either Series I or Series II shall be convertible into the Company's Common Stock any time after two years from the date of issuance at a Variable Conversion Price (as defined herein) of the Common Stock. The Variable Conversion Price shall mean 75% multiplied by the Market Price (as defined herein) (representing a discount rate of 25%). Market Price means the average Trading Price for the Company's Common Stock during the ten (10) trading-day period ending one trading day prior to the date the Conversion Notice is sent by the Holder of the Class A Preferred Stock to the Company via facsimile or email (the Conversion Date). Trading Price means, for any security as of any date, the closing price on the OTC Markets, OTCQB, NASDAQ Stock Markets, or applicable trading market as reported by a reliable reporting service (Reporting Service) mutually acceptable to the Company and Holder of the Class A Preferred Stock. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt trading days | d | 5 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
State Of Wyoming [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of authorized capital stock | shares | 1,000,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock voting, shares authorized | shares | 900,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock, par value | $ / shares | $ 0.001 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt description | Alternatively, each share of the Class A Preferred Stock, either Series I or Series II, may be convertible into Common Stock of a subsidiary of PHI Group, Inc.’s, to be determined by the Company’s Board of Directors, any time after such subsidiary has become a fully-reporting publicly traded company for at least three months, at a Variable Conversion Price (as defined herein). The Variable Conversion Price to be used in connection with the conversion into Common Stock of a subsidiary of PHI Group, Inc.’s shall mean 50% multiplied by the Market Price (as defined herein), representing a discount rate of 50%, of that Common Stock. “Market Price” means the average Trading Price for the Common Stock of said subsidiary of PHI Group, Inc.’s during the ten (10) trading-day period ending one trading day prior to the date the Conversion Notice is sent by the Holder of the Preferred Stock to the Company via facsimile or email (the “Conversion Date”). “Trading Price” means, for any security as of any date, the closing price on the OTC Markets, OTCQB, NASDAQ Stock Markets, NYSE or applicable trading market as reported by a reliable reporting service (“Reporting Service”) mutually acceptable to the Company, said subsidiary and Holder of the Class A Preferred Stock.” | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issued shares in cash, value | $ 49 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares issued during period cash, shares | shares | 48,930 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock, shares issued | shares | 135,893,815 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock, shares outstanding | shares | 135,893,815 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Excluding of common stock | shares | 5,673,327 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A Series I Cumulative Convertible Redeemable Preferred Stock [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, shares authorized | shares | 20,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, par value | $ / shares | $ 0.001 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, shares designated | shares | 20,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of non-compounding cumulative dividends per annum | 10.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A Series II Cumulative Convertible Redeemable Preferred Stock [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, shares authorized | shares | 25,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, par value | $ / shares | $ 0.001 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, shares designated | shares | 25,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of non-compounding cumulative dividends per annum | 8.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A Series III Cumulative Convertible Redeemable Preferred Stock [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, shares authorized | shares | 50,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, par value | $ / shares | $ 0.001 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, shares designated | shares | 50,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of non-compounding cumulative dividends per annum | 8.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class B Series I Preferred Stock [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, shares authorized | shares | 100,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, par value | $ / shares | $ 0.001 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A Series II Preferred Stock [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock, shares issued | shares | 10,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock, shares outstanding | shares | 10,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Non-voting Class A Series I Preferred Stock [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, shares authorized | shares | 50,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, par value | $ / shares | $ 5 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Non-voting Class A Series II Preferred Stock [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, shares authorized | shares | 25,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, par value | $ / shares | $ 5 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Non-voting Class A Series III Preferred Stock [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, shares authorized | shares | 20,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, par value | $ / shares | $ 5 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Voting Class A Series IV Preferred Stock [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, shares authorized | shares | 5,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, par value | $ / shares | $ 5 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Two Non-US Shareholders[Member] | Restricted Common Stock [Member] | Private Stock Purchase Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion of common stock shares issued | shares | 20,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion of common stock, value | $ 300,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, convertible, conversion price | $ / shares | $ 0.015 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issued shares in cash, value | $ 23,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issued share per share price | $ / shares | $ 0.015 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares issued during period cash, shares | shares | 1,533,333 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Effective price per share | $ / shares | $ 0.015 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Steve Truong [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number shares of restricted of common stock | shares | 1,724,138 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number shares of restricted of common stock, value | $ 20,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Andreas Held [Member] | Restricted Common Stock [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issued shares in cash, value | $ 981 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares issued during period cash, shares | shares | 100,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cuong Tran [Member] | Restricted Common Stock [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares issued during period cash, shares | shares | 100,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Henry Fahman [Member] | Restricted Common Stock [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion of common stock shares issued | shares | 11,574,074 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion of common stock, value | $ 300,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Henry Fahman [Member] | Restricted Common Stock [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion of common stock shares issued | shares | 150,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion of common stock, value | $ 4,746,084 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issued share per share price | $ / shares | $ 0.031605 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Effective price per share | $ / shares | $ 0.031605 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Tina Phan [Member] | Restricted Common Stock [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion of common stock shares issued | shares | 4,629,630 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion of common stock, value | $ 120,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, convertible, conversion price | $ / shares | $ 0.02592 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Tina Phan [Member] | Restricted Common Stock [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion of common stock shares issued | shares | 60,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion of common stock, value | $ 1,898,434 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issued share per share price | $ / shares | $ 0.031605 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Effective price per share | $ / shares | $ 0.031605 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Buu Chung [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion of common stock shares issued | shares | 157,604 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion of common stock, value | $ 3,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt principal amount after conversion | $ 0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Power Up Lending Group, Ltd [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion of common stock shares issued | shares | 295,156 | 1,127,820 | 1,169,591 | 419,212 | 622,407 | 434,783 | 1,019,872 | 880,000 | 740,741 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion of common stock, value | $ 133,333 | $ 15,000 | $ 20,000 | $ 6,500 | $ 15,000 | $ 12,000 | $ 7,955 | $ 7,920 | $ 10,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, convertible, conversion price | $ / shares | $ 0.0117 | $ 0.0133 | $ 0.0171 | $ 0.0078 | $ 0.009 | $ 0.0135 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt convertible, principal amount | $ 33,000 | $ 33,000 | $ 33,000 | $ 33,000 | $ 53,000 | $ 0 | $ 6,580 | $ 14,500 | $ 33,000 | $ 28,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | $ 2,120 | 2,010 | $ 1,375 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Repayments of debt | $ 8,510 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible promissory note | 3,453 | $ 25,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt principal amount after conversion | 0 | $ 1,333 | $ 16,333 | $ 36,333 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued and unpaid interest included in prepayment | $ 2,120 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt trading days | d | 10 | 10 | 10 | 10 | 10 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Auctus Fund, LLC [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion of common stock shares issued | shares | 1,835,795 | 2,744,300 | 2,346,000 | 2,154,700 | 800,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion of common stock, value | $ 6,746 | $ 10,340 | $ 15,063 | $ 17,852 | $ 5,152 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, convertible, conversion price | $ / shares | $ 0.00644 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt convertible, principal amount | $ 75,000 | 7,343 | $ 32,613 | $ 3,485 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 98 | 138 | 203 | 3,356 | 0 | $ 1,666 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Repayments of debt | $ 49,530 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Conversion fee | 500 | $ 500 | $ 500 | $ 500 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt principal amount after conversion | 0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt trading days | d | 25 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
JSJ Investments, Inc [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion of common stock shares issued | shares | 2,601,957 | 2,913,837 | 2,250,821 | 1,385,677 | 371,057 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion of common stock, value | $ 11,500 | $ 16,079 | $ 12,421 | $ 11,000 | $ 10,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt convertible, principal amount | $ 100,000 | $ 78,750 | $ 78,750 | $ 78,750 | 14,358 | $ 78,750 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | $ 3,797 | 2,859 | $ 1,651 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible promissory note | $ 40,000 | $ 40,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt principal amount after conversion | $ 0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt trading days | d | 20 | 20 | 20 | 20 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
EMA Financial LLC [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion of common stock shares issued | shares | 3,812,188 | 2,500,000 | 2,500,000 | 2,500,000 | 2,000,000 | 1,000,000 | 600,000 | 250,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion of common stock, value | $ 9,975 | $ 9,625 | $ 8,750 | $ 8,750 | $ 7,140 | $ 5,950 | $ 3,750 | $ 3,588 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt convertible, principal amount | 14,678 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 3,649 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Conversion fee | 1,050 | 1,050 | $ 1,050 | $ 1,050 | $ 1,050 | $ 1,050 | $ 1,350 | $ 750 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible promissory note | 14,677 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt principal amount after conversion | $ 0 | $ 9,978 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Andreas Held [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number shares of restricted of common stock | shares | 80,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Current shareholder value | $ 1,920 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Crown Bridge Partners, LLC [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion of common stock shares issued | shares | 6,048,786 | 3,159,521 | 4,744,007 | 2,509,693 | 2,500,000 | 2,900,000 | 2,300,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion of common stock, value | $ 36,492 | $ 8,238 | $ 9,563 | $ 9,650 | $ 7,550 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt convertible, principal amount | $ 55,000 | $ 55,000 | $ 35,000 | $ 50,000 | 10,150 | 9,750 | 8,050 | $ 35,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 992 | 1,013 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Conversion fee | 500 | 500 | 500 | 500 | 500 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible promissory note | $ 35,000 | 35,000 | $ 35,000 | 35,000 | 35,000 | $ 35,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt principal amount after conversion | $ 0 | $ 17,800 | $ 0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercise of warrant | 17,300 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of warrants | $ 17,700 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrant exercise price per share | $ / shares | $ 22,285 | $ 0.40 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt trading days | d | 20 | 20 | 20 | 20 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Crown Bridge Partners, LLC [Member] | Warrant [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion of common stock shares issued | shares | 4,653,954 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion of common stock, value | $ 35,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of warrants | $ 17,700 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrant exercise price per share | $ / shares | $ 0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rush Gold Royalty Inc [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt convertible, principal amount | $ 24,310,400 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rush Gold Royalty Inc [Member] | Class A Series II Preferred Stock [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, convertible, conversion price | $ / shares | $ 0.02592 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Einstein Investments LLC [Member] | Common Stock [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt convertible, principal amount | $ 50,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 5,949 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible promissory note | 115,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt principal amount after conversion | $ 71,449 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Einstein Investment LLC [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion of common stock shares issued | shares | 3,149,607 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion of common stock, value | $ 44,051 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt convertible, principal amount | $ 115,500 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 5,949 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible promissory note | 44,051 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt principal amount after conversion | $ 71,449 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt trading days | d | 10 |
Stock-Based Compensation Plan_2
Stock-Based Compensation Plan (Details Narrative) - $ / shares | Sep. 23, 2016 | Jun. 30, 2018 | Mar. 18, 2015 |
Employee benefit plan shares of common stock for eligible employees | 1,000,000 | ||
Henry Fahman [Member] | |||
Option grant date exercise price per share | $ 0.24 | ||
Number of option shares | 6,520,000 | ||
Number of options outstanding term | 7 years | ||
Number of options exercisable term | 1 year |
Stock-Based Compensation Plan -
Stock-Based Compensation Plan - Schedule of Fair Value of Stock Option Assumptions (Details) | 12 Months Ended |
Jun. 30, 2018 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Risk-free interest rate | 1.18% |
Expected life | 7 years |
Expected volatility | 239.30% |
Stock-Based Compensation Plan_3
Stock-Based Compensation Plan - Schedule of Fair Value of Stock Option Issuance Date (Details) | 12 Months Ended |
Jun. 30, 2018USD ($)$ / sharesshares | |
Tam Bui [Member] | |
Stock Options Issue Date | Sep. 23, 2016 |
Stock Options Maturity Date | Sep. 23, 2023 |
Stock Options Shares | shares | 875,000 |
Stock Options Exercise Price | $ / shares | $ 0.24 |
Fair Value at Issuance of Stock Option | $ | $ 219,464 |
Frank Hawkins [Member] | |
Stock Options Issue Date | Sep. 23, 2016 |
Stock Options Maturity Date | Sep. 23, 2023 |
Stock Options Shares | shares | 875,000 |
Stock Options Exercise Price | $ / shares | $ 0.24 |
Fair Value at Issuance of Stock Option | $ | $ 219,464 |
Henry Fahman [Member] | |
Stock Options Issue Date | Sep. 23, 2016 |
Stock Options Maturity Date | Sep. 23, 2023 |
Stock Options Shares | shares | 4,770,000 |
Stock Options Exercise Price | $ / shares | $ 0.24 |
Fair Value at Issuance of Stock Option | $ | $ 1,187,984 |
Gain (Loss) On Settlement of _2
Gain (Loss) On Settlement of Debts (Details Narrative) | 12 Months Ended |
Jun. 30, 2018USD ($) | |
Gain Loss On Settlement Of Debts | |
Loss on settlement of debts | $ 92,781 |
Loss on conversion of debt | $ 94,539 |
Other Income (Expense) - Schedu
Other Income (Expense) - Schedule of Other Income (Expense) (Details) | 12 Months Ended |
Jun. 30, 2018USD ($) | |
Other Income and Expenses [Abstract] | |
Interest expense | $ (1,352,736) |
Loss on loan/note conversions | (94,539) |
Loss on debt settlement | (92,781) |
Prepayment Premium | (164,272) |
Write-offs | (77,500) |
Loss on issuance of stock | (9,310) |
Accrual for Preferred Stock Dividends | (4,681) |
Net miscellaneous other income/expense | (194) |
NET OTHER INCOME (EXPENSE) | $ (1,796,013) |
Related Party Transactions (Det
Related Party Transactions (Details Narrative) | 12 Months Ended |
Jun. 30, 2018USD ($) | |
Consulting fee | $ 165,850 |
American Laser Healthcare, Inc [Member] | |
Consulting fee | 25,000 |
President and Secretary[Member] | |
Accrued salaries | $ 210,000 |
Income Taxes (Details Narrative
Income Taxes (Details Narrative) | 12 Months Ended |
Jun. 30, 2018USD ($) | |
Income Tax Disclosure [Abstract] | |
Operating loss carry forwards | $ 40,551,299 |
Operating loss carry forwards taxable income due period description | The net operating loss carry forward may be used to reduce taxable income through the year 2033. Net operating loss for carry forwards for the State of California is generally available to reduce taxable income through the year 2023. |
Percentage of limitation in ownership change | 50.00% |
Contracts and Commitments (Deta
Contracts and Commitments (Details Narrative) | Apr. 23, 2018 | Mar. 27, 2018USD ($) | Mar. 27, 2018USD ($) | Feb. 28, 2018 | Dec. 18, 2017EUR (€)ha | Sep. 02, 2017USD ($)aNumbershares | Aug. 03, 2017USD ($)shares | Jun. 30, 2018USD ($)ashares | Jun. 30, 2017USD ($)shares | Mar. 31, 2018aha | Feb. 21, 2018USD ($) | Dec. 15, 2017shares | Nov. 04, 2017aoz | Oct. 06, 2017USD ($) |
Common stock shares reserved for future issuance | shares | 5,673,327 | |||||||||||||
Total purchase price | $ 82,733 | |||||||||||||
Business acquisition percentage | 94.00% | |||||||||||||
Common stock beneficially conversion, percentage | 4.99% | |||||||||||||
Advances from customers | $ 288,219 | 288,219 | ||||||||||||
Investment | $ 25,005,000 | |||||||||||||
Area of land | 400 | 2,000 | ||||||||||||
Percentage of ownership | 51.00% | |||||||||||||
Value of shares issued during period | 20,000 | |||||||||||||
Convertible promissory note | $ 24,048,500 | |||||||||||||
Number of shares included in authorized capital | shares | 2,000,000,000 | |||||||||||||
Contract assets | $ 697,841 | |||||||||||||
Contract assets recognized as revenue | $ 1,212,159 | |||||||||||||
Contract assets offset as contract liabilities | 697,841 | |||||||||||||
Thanh Vu [Member] | ||||||||||||||
Payments of fees for participation | 2,000,000 | |||||||||||||
Contract assets | 2,000,000 | |||||||||||||
Common Stock [Member] | ||||||||||||||
Number of common stock shares issued during the period | shares | 100,000 | |||||||||||||
Number of shares issued during period | shares | 48,930 | |||||||||||||
Value of shares issued during period | $ 49 | |||||||||||||
AQuarius Power Inc [Member] | ||||||||||||||
Investment | $ 5,000 | $ 5,000 | ||||||||||||
Rush Gold Royalty Inc [Member] | ||||||||||||||
Area of land | a | 400 | |||||||||||||
American Pacific Resources, Inc [Member] | April 23, 2018 [Member] | ||||||||||||||
Percentage of ownership | 20.00% | |||||||||||||
Greenhouse [Member] | ||||||||||||||
Area of land | ha | 10 | |||||||||||||
Water Park and Health Retreat Wellness Resort [Member] | ||||||||||||||
Investment | € | € 20,000,000 | |||||||||||||
ZIOS Land [Member] | ||||||||||||||
Investment | € | 7,000,000 | |||||||||||||
SC ZIOS [Member] | Euro Member Countries, Euro [Member] | ||||||||||||||
Debt value | € | 1,400,000 | |||||||||||||
Value of contribution agreed | € | 3,500,000 | |||||||||||||
Payments to owner after approvals | € | 2,000,000 | |||||||||||||
Payments to acquire other property plant and equipment | € | € 1,500,000 | |||||||||||||
GildexShop Pte Ltd [Member] | ||||||||||||||
Original price per share, description | APRI agrees to guarantee the value of all such GLDX ICO tokens that are purchased by investors by allowing the token holders to exchange the original purchase prices of such ICO tokens for gold from APRI at 50% discount to the Market Price (as defined herein) of gold at the time of exchange. | |||||||||||||
Phuong Hoang Investment and Development LLC [Member] | ||||||||||||||
Business acquisition percentage | 75.00% | |||||||||||||
Area of land | a | 4,940 | |||||||||||||
First Tranche [Member] | ||||||||||||||
Number of common stock shares issued during the period | shares | 7,936,600 | |||||||||||||
Investment Agreement [Member] | ||||||||||||||
Payment of commitment | $ 10,000,000 | |||||||||||||
Common stock shares reserved for future issuance | shares | 65,445,000 | 20,000,000 | ||||||||||||
Total purchase price | $ 250,000 | |||||||||||||
Business acquisition percentage | 200.00% | |||||||||||||
Investment Agreement [Member] | Gridline Communications, Inc [Member] | Common Stock [Member] | ||||||||||||||
Number of shares included in authorized capital | shares | 600,000,000 | |||||||||||||
Investment Agreement [Member] | Gridline Communications, Inc [Member] | Preferred Stock [Member] | ||||||||||||||
Number of shares included in authorized capital | shares | 300,000,000 | |||||||||||||
Settlement Agreement [Member] | PHI Group, Inc [Member] | Minimum [Member] | ||||||||||||||
Transfer shares of common stock | shares | 480,000 | |||||||||||||
Unrealized sale of equity investment | $ 381,000 | |||||||||||||
Settlement Agreement [Member] | Thinh Hung Investment Co [Member] | ||||||||||||||
Investment on debt | 381,000 | |||||||||||||
Advances from customers | $ 288,219 | |||||||||||||
Receipt share of stock authorized | shares | 480,000 | |||||||||||||
Settlement Agreement [Member] | Thinh Hung Investment Co [Member] | PHI Group, Inc [Member] | ||||||||||||||
Pay cash directly | $ 381,000 | |||||||||||||
Receipt share of stock authorized | shares | 480,000 | |||||||||||||
Agreement of Purchase and Sale [Member] | Rush Gold Royalty Inc [Member] | ||||||||||||||
Area of land | a | 400 | |||||||||||||
Percentage of ownership | 51.00% | |||||||||||||
Number of mining claims | Number | 21 | |||||||||||||
Agreement of Purchase and Sale [Member] | Rush Gold Royalty Inc [Member] | Class A Series II Preferred Stock [Member] | ||||||||||||||
Number of shares issued during period | shares | 10,000,000 | |||||||||||||
Value of shares issued during period | $ 314,100 | |||||||||||||
Convertible promissory note | 24,310,400 | |||||||||||||
Consideration paid in exchange | $ 25,000,000 | |||||||||||||
Business Cooperation and Investment Agreement [Member] | Suda Lattana Co [Member] | ||||||||||||||
Area of land | a | 67,000 | |||||||||||||
Number of gold ounces mined | oz | 3,527,000 | |||||||||||||
Special stock dividend description | Special stock dividend from its holdings of Common Stock in American Pacific Resources, Inc., a subsidiary of the Company, to shareholders of Common Stock of the Company as follows: (a) Declaration date: April 23, 2018; (b) Record date: May 31, 2018; (c) Payment date: October 31, 2018; (d) Dividend ratio: All eligible shareholders of Common Stock of the Company as of the Record date shall be entitled to receive two (2) shares of Common Stock of American Pacific Resources, Inc. for every ten (10) shares of Common Stock of PHI Group, Inc. held by such shareholders as of the referenced Record date. | |||||||||||||
Business Consultancy and Structuring Agency Agreement [Member] | Euro Member Countries, Euro [Member] | ||||||||||||||
Investment | $ 3,500,000 | |||||||||||||
Extra amount to be paid to structuring agent | $ 1,500,000 | |||||||||||||
Luxembourg Reserved Alternative Investment Fund [Member] | Thanh T. Vu [Member] | ||||||||||||||
Investment company payment to fund by affiliate | $ 2,000,000 | |||||||||||||
Luxembourg Reserved Alternative Investment Fund [Member] | Due upon Signining [Member] | ||||||||||||||
Investment company payment to fund by affiliate | 500,000 | |||||||||||||
Luxembourg Reserved Alternative Investment Fund [Member] | Fifteen Days After Signing [Member] | ||||||||||||||
Investment company payment to fund by affiliate | $ 1,500,000 | |||||||||||||
Due upon Signining [Member] | Thanh Vu [Member] | ||||||||||||||
Payments of fees for participation | 500,000 | |||||||||||||
Fifteen Days after Signing of Agreement [Member] | Thanh Vu [Member] | ||||||||||||||
Payments of fees for participation | $ 1,500,000 |
Going Concern Uncertainty (Deta
Going Concern Uncertainty (Details Narrative) - USD ($) | Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2016 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||
Accumulated deficit | $ 40,551,299 | $ 39,299,754 | |
Stockholders deficit | $ (4,844,747) | $ (7,513,481) | $ (7,001,960) |
Subsequent Event (Details Narra
Subsequent Event (Details Narrative) | Sep. 28, 2018shares | Sep. 26, 2018USD ($)shares | Sep. 25, 2018USD ($) | Sep. 21, 2018USD ($)$ / sharesshares | Sep. 20, 2018USD ($)shares | Sep. 06, 2018USD ($)shares | Aug. 31, 2018USD ($)$ / sharesshares | Aug. 30, 2018USD ($) | Aug. 27, 2018USD ($)shares | Aug. 23, 2018USD ($)shares | Aug. 17, 2018USD ($)shares | Aug. 06, 2018USD ($)shares | Aug. 02, 2018USD ($)shares | Jul. 30, 2018USD ($)shares | Jul. 27, 2018USD ($)$ / sharesshares | Jul. 26, 2018USD ($)shares | Jul. 23, 2018USD ($)shares | Jul. 19, 2018USD ($)shares | Jul. 17, 2018USD ($) | Jul. 10, 2018USD ($) | Jul. 05, 2018USD ($) | Jun. 25, 2018USD ($) | Jun. 21, 2018USD ($)$ / sharesshares | Jun. 12, 2018USD ($) | Jun. 04, 2018USD ($)shares | May 29, 2018USD ($)shares | Apr. 24, 2018USD ($)shares | Apr. 23, 2018USD ($)shares | Apr. 19, 2018USD ($)shares | Apr. 10, 2018USD ($) | Apr. 02, 2018USD ($) | Mar. 21, 2018USD ($) | Feb. 28, 2018USD ($)shares | Feb. 22, 2018USD ($) | Feb. 08, 2018USD ($)shares | Feb. 02, 2018USD ($) | Feb. 01, 2018USD ($) | Jan. 31, 2018USD ($) | Jan. 30, 2018USD ($)shares | Jan. 29, 2018USD ($)shares | Jan. 26, 2018USD ($) | Jan. 18, 2018USD ($) | Jan. 11, 2018USD ($)shares | Jan. 09, 2018USD ($)shares | Jan. 08, 2018USD ($)shares | Dec. 29, 2017USD ($)shares | Dec. 20, 2017USD ($)shares | Dec. 14, 2017USD ($)shares | Dec. 13, 2017USD ($)shares | Dec. 05, 2017USD ($)shares | Dec. 01, 2017USD ($)shares | Nov. 24, 2017USD ($) | Nov. 08, 2017USD ($)shares | Oct. 31, 2017USD ($)shares | Oct. 26, 2017USD ($)$ / shares | Oct. 23, 2017USD ($)shares | Oct. 19, 2017USD ($)shares | Oct. 18, 2017USD ($) | Oct. 17, 2017USD ($)shares | Jul. 21, 2017USD ($)shares | Jul. 17, 2017USD ($)shares | Jul. 11, 2017USD ($)shares | Jul. 05, 2017USD ($)shares | Jun. 30, 2018USD ($)a$ / sharesshares | Jun. 30, 2017USD ($)$ / sharesshares | Dec. 14, 2018USD ($) | Jul. 25, 2018$ / sharesshares | Jul. 22, 2018USD ($) | Jul. 02, 2018aha | Apr. 17, 2018USD ($) | Mar. 31, 2018ha | Aug. 15, 2017USD ($) | Aug. 03, 2017USD ($) | Jul. 24, 2017USD ($) | Jul. 20, 2017USD ($) |
Percentage of ownership | 51.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Area of land | 400 | 2,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock, shares authorized | shares | 1,900,000,000 | 1,900,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock, par value | $ / shares | $ 0.001 | $ 0.001 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, shares authorized | shares | 100,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, par value | $ / shares | $ 0.001 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible promissory note | $ 24,048,500 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal amount | $ 15,765 | $ 21,709 | $ 10,977 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 21,227 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Conversion fee | $ 12,651 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion of common stock, value | $ 94,539 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Value of shares issued during period | $ 20,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Restricted Common Stock [Member] | Andreas Held [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares issued during period cash, shares | shares | 100,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Value of shares issued during period | $ 981 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares issued during period cash, shares | shares | 48,930 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Value of shares issued during period | $ 49 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class B Series I Preferred Stock [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, shares authorized | shares | 100,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, par value | $ / shares | $ 0.001 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Einstein Investment LLC [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion of common stock shares issued | shares | 3,149,607 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible promissory note | $ 44,051 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal amount | $ 115,500 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 5,949 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion of common stock, value | 44,051 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt principal amount after conversion | $ 71,449 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of interest per annum | 10.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt discount, percentage | 50.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt maturity date | Oct. 26, 2018 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Power Up Lending Group, Ltd [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion of common stock shares issued | shares | 295,156 | 1,127,820 | 1,169,591 | 419,212 | 622,407 | 434,783 | 1,019,872 | 880,000 | 740,741 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible promissory note | $ 3,453 | $ 25,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal amount | $ 33,000 | $ 33,000 | $ 33,000 | $ 33,000 | $ 53,000 | $ 0 | $ 6,580 | $ 14,500 | $ 33,000 | $ 28,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 2,120 | $ 2,010 | 1,375 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion of common stock, value | 133,333 | $ 15,000 | $ 20,000 | $ 6,500 | $ 15,000 | $ 12,000 | $ 7,955 | $ 7,920 | $ 10,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt principal amount after conversion | $ 0 | $ 1,333 | $ 16,333 | $ 36,333 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of interest per annum | 8.00% | 8.00% | 8.00% | 8.00% | 8.00% | 10.00% | 8.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt discount, percentage | 42.00% | 42.00% | 42.00% | 42.00% | 42.00% | 42.00% | 42.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt maturity date | Jan. 30, 2019 | Nov. 30, 2018 | Nov. 15, 2018 | Oct. 10, 2018 | Jul. 20, 2018 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
JSJ Investments, Inc [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion of common stock shares issued | shares | 2,601,957 | 2,913,837 | 2,250,821 | 1,385,677 | 371,057 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible promissory note | $ 40,000 | $ 40,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal amount | $ 100,000 | $ 78,750 | $ 78,750 | $ 78,750 | $ 14,358 | $ 78,750 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | $ 3,797 | 2,859 | $ 1,651 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion of common stock, value | 11,500 | $ 16,079 | $ 12,421 | $ 11,000 | $ 10,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt principal amount after conversion | $ 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of interest per annum | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt discount, percentage | 45.00% | 45.00% | 45.00% | 45.00% | 45.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt maturity date | Jun. 25, 2019 | Mar. 21, 2019 | Jan. 18, 2019 | Jan. 18, 2019 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Crown Bridge Partners, LLC [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion of common stock shares issued | shares | 6,048,786 | 3,159,521 | 4,744,007 | 2,509,693 | 2,500,000 | 2,900,000 | 2,300,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible promissory note | $ 35,000 | $ 35,000 | $ 35,000 | $ 35,000 | $ 35,000 | $ 35,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal amount | $ 55,000 | $ 55,000 | $ 35,000 | $ 50,000 | 10,150 | 9,750 | 8,050 | $ 35,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 992 | 1,013 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Conversion fee | 500 | 500 | 500 | 500 | 500 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion of common stock, value | 36,492 | $ 8,238 | $ 9,563 | 9,650 | $ 7,550 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt principal amount after conversion | $ 0 | $ 17,800 | $ 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cashless exercise value of warrants | $ 17,700 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrant exercise price per share | $ / shares | $ 22,285 | $ 0.40 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of interest per annum | 10.00% | 10.00% | 5.00% | 5.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt discount, percentage | 50.00% | 50.00% | 50.00% | 50.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt maturity date | Jun. 12, 2019 | Apr. 2, 2019 | Jan. 31, 2019 | Oct. 26, 2018 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Auctus Fund, LLC [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion of common stock shares issued | shares | 1,835,795 | 2,744,300 | 2,346,000 | 2,154,700 | 800,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal amount | $ 75,000 | $ 7,343 | $ 3,485 | $ 32,613 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 98 | $ 138 | $ 203 | $ 3,356 | 1,666 | $ 0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Conversion fee | 500 | 500 | 500 | 500 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion of common stock, value | 6,746 | $ 10,340 | $ 15,063 | $ 17,852 | $ 5,152 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt principal amount after conversion | $ 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of interest per annum | 12.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt discount, percentage | 50.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt maturity date | Nov. 2, 2018 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Adar Bays LLC [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal amount | $ 60,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of interest per annum | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt discount, percentage | 50.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt maturity date | Feb. 1, 2019 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsequent Event [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock, shares authorized | shares | 2,000,000,000 | 1,500,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock, par value | $ / shares | $ 0.001 | $ 0.001 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsequent Event [Member] | Tam Bui [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from short term debt | $ 25,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsequent Event [Member] | Tristina Lam [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt maturity date | Nov. 21, 2018 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from short term debt | $ 75,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Secured debt | $ 80,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsequent Event [Member] | Restricted Common Stock [Member] | Andreas Held [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares issued during period cash, shares | shares | 164,722 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Value of shares issued during period | $ 1,334 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsequent Event [Member] | Common Stock [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock, shares authorized | shares | 1,900,000,000 | 1,400,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock, par value | $ / shares | $ 0.001 | $ 0.001 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsequent Event [Member] | Preferred Stock [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, shares authorized | shares | 100,000,000 | 100,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, par value | $ / shares | $ 0.001 | $ 0.001 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsequent Event [Member] | Class B Series I Preferred Stock [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, par value | $ / shares | $ 0.001 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, shares designated | shares | 25,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, shares issued | shares | 50,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsequent Event [Member] | Einstein Investment LLC [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion of common stock shares issued | shares | 1,734,105 | 2,298,851 | 1,951,220 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible promissory note | $ 115,000 | $ 115,000 | $ 115,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal amount | 6,517 | 14,208 | 18,100 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 483 | 292 | 900 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Conversion fee | 500 | 500 | 1,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion of common stock, value | 7,500 | 15,000 | 20,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt principal amount after conversion | $ 32,624 | 39,142 | $ 53,349 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsequent Event [Member] | Power Up Lending Group, Ltd [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion of common stock shares issued | shares | 3,066,667 | 2,205,882 | 1,491,667 | 2,061,856 | 1,805,607 | 1,200,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible promissory note | $ 38,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal amount | $ 73,000 | $ 18,000 | $ 38,000 | $ 13,000 | $ 18,000 | $ 73,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 1,320 | 1,320 | 1,320 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion of common stock, value | $ 19,320 | $ 15,000 | $ 14,320 | $ 20,000 | 19,320 | $ 15,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt principal amount after conversion | $ 18,000 | $ 13,000 | $ 18,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of interest per annum | 8.00% | 8.00% | 8.00% | 8.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt discount, percentage | 42.00% | 42.00% | 42.00% | 42.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt maturity date | Jul. 15, 2019 | Jun. 15, 2019 | May 15, 2019 | Apr. 30, 2019 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Prepayment premium rate | 150.00% | 150.00% | 150.00% | 150.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsequent Event [Member] | JSJ Investments, Inc [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion of common stock shares issued | shares | 6,971,290 | 4,260,531 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible promissory note | $ 144,750 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal amount | $ 38,750 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 4,193 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion of common stock, value | $ 40,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt principal amount after conversion | $ 0 | $ 38,750 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of interest per annum | 10.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt discount, percentage | 50.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt maturity date | Sep. 26, 2019 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Prepayment premium rate | 150.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsequent Event [Member] | Crown Bridge Partners, LLC [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion of common stock shares issued | shares | 3,356,444 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible promissory note | $ 30,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cashless exercise value of warrants | $ 12,715 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrant exercise price per share | $ / shares | $ 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from convertible debt | $ 25,500 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of interest per annum | 10.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt discount, percentage | 50.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt maturity date | Jul. 5, 2019 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsequent Event [Member] | Auctus Fund, LLC [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion of common stock shares issued | shares | 1,500,000 | 1,500,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal amount | $ 4,111 | $ 579 | $ 75,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 489 | 4,981 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Conversion fee | 500 | 500 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion of common stock, value | 5,100 | 6,060 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt principal amount after conversion | $ 70,310 | $ 74,421 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of interest per annum | 12.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt discount, percentage | 50.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt maturity date | Jul. 17, 2019 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsequent Event [Member] | Redchip Companies LLC [Member] | Restricted Common Stock [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares issued during period cash, shares | shares | 500,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsequent Event [Member] | SRS Consulting Ltd [Member] | Restricted Common Stock [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares issued during period cash, shares | shares | 500,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued price per share | $ / shares | $ 0.01 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsequent Event [Member] | Adar Bays LLC [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion of common stock shares issued | shares | 1,022,913 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion of common stock, value | $ 5,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt principal amount after conversion | $ 55,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsequent Event [Member] | One44 Capital LLC [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal amount | $ 90,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of interest per annum | 10.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt discount, percentage | 45.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt maturity date | Jul. 23, 2019 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsequent Event [Member] | Business Cooperation Agreement [Member] | Regent Blockchain Group, Ltd [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity method investments | $ 4,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of ownership | 51.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsequent Event [Member] | Business Cooperation Agreement [Member] | Bao Lam LLC [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of ownership | 75.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Area of land | ha | 1,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsequent Event [Member] | Business Cooperation Agreement [Member] | Vinafilms JSC [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of ownership | 51.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsequent Event [Member] | Business Cooperation Agreement [Member] | Bao Lam LLC [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Area of land | a | 2,470 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsequent Event [Member] | Stock Swap Agreement [Member] | Class A Series III Cumulative, Convertible, Redeemable Preferred Stock [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares issued during period cash, shares | shares | 50,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsequent Event [Member] | Stock Swap Agreement [Member] | Vinafilms JSC [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of ownership | 76.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsequent Event [Member] | Stock Swap Agreement [Member] | Vinafilms JSC [Member] | Class A Series III Cumulative, Convertible, Redeemable Preferred Stock [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exchange of shares | shares | 50,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsequent Event [Member] | Stock Swap Agreement [Member] | Vinafilms JSC [Member] | Common Stock [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exchange of shares | shares | 3,060,000 |