Exhibit No. 21.1

SUBSIDIARIES OF REGISTRANT

As of December 31, 2018

1)	PHI Capital Holdings, Inc.
	A Wyoming corporation
	Percentage of ownership: 100%
	Business activity: Consulting and M&A advisory services.
2)	Abundant Farms, Inc.
	A Florida corporation
	Percentage of ownership: 100%
	Business activity: Agriculture
3)	American Pacific Plastics, Inc.
	A Wyoming corporation
	Percentage of ownership: 100%
	Business activity: Plastics film manufacturing, holding company for Vinafilms JSC.
4)	American Pacific Resources, Inc.
	A Wyoming corporation
	Percentage of ownership: 100%
	Business activity: Mining & natural resources.
5)	American Saigon Palace Group, Inc.
	A Wyoming corporation
	Percentage of ownership: 100%
	Business activity: Food and beverage, hospitality.
6)	ComMatrix, Inc.
	A Wyoming corporation
	Percentage of ownership: 100%
	Business activity: Telecommunication, holding company for Gridline Communications, Inc. (inactive)
7)	Constructii SA Group, Inc.
	A Delaware corporation
	Percentage of ownership: 100%
	Holding company for acquisition of a Romanian construction company (inactive).
8)	PHI VIETNAM INVESTMENT AND DEVELOPMENT LTD.
	A Vietnamese company
	Percentage of ownership: 100%
	Business activity: Investment and Consulting Services.
9)	PHI EZ Water Tech, Inc.
	A Wyoming corporation
	Percentage of ownership: 75%
	Business activity: Water treatment technology (inactive).
10)	PHIVITAE Corporation
	A Wyoming corporation
	Percentage of ownership: 100%
	Business activity: inactive.