ITEM 1.01 Entry into a Material Definitive Agreement

Production Services Agreement

Effective June 13, 2021, the Company entered into a consulting agreement with Milestone Management Services. Pursuant to the terms of the agreement, the Milestone Management Services will provide and advise PHBI's management team regarding any current or potential projects, acquisitions, sales, mergers and any other day to day decision making questions.

This Agreement has a 6-month term and will terminate on December 13, 2021. The Company shall issue issuing 117,000 restricted shares of its common stock per month.

The description of the transaction contemplated by this agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the documents filed as exhibits hereto and incorporated herein by reference.

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