Company: RHNO
Filing Date: 2025-11-13
Form Type: 10-K
Source: 0001493152-25-022052
Chunk: 32

Company: RHINO BITCOIN INC.
Filing Date: 2025-11-13
Form: 10-K
Item: Item 1
Chunk 32
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    holding
     
    100%

    2.
    Phoenix
    Plus International Limited
     
    Hong
    Kong / March 19, 2019
     
    1
    ordinary share of HK$1 each
     
    Providing
    technical consultancy on solar power system and consultancy on green energy solution
     
    100%

    3.
    
    Phoenix
    Green Energy Sdn. Bhd.
     
    Malaysia
    / May 17, 2022
     
    1,200,000
    shares of ordinary share of MYR1 each
     
    Providing
    renewable energy turnkey solutions from engineering, procurement, construction and commissioning services
     
    100%

On August 19, 2025, the Company closed its previously
disclosed agreement and plan of merger (the “Merger Agreement”) among the Company, Rhino Merger Acquisition Sub, Inc., a newly
formed wholly-owned subsidiary of the Company (“Merger Sub”), Rhino Digital Inc. (“Rhino”), and solely with respect
to Section 9.1(d) of the Merger Agreement, the Selling Shareholders named therein.

Pursuant to the Merger Agreement,
effective upon the closing thereof, (i) Merger Sub merged with and into Rhino, with Rhino surviving as the wholly-owned subsidiary of
the Company, (ii) each share of common stock of Rhino converted into the right to receive two shares of common stock of the Company, (iii)
the outstanding shares of Series A Preferred Stock of Rhino converted into an aggregate of 200,000 shares of newly created Series A Preferred
Stock of the Company with substantially identical terms as the Rhino Series A Preferred Stock, (iv) convertible notes of Rhino converted
into shares of common stock of the Company at a conversion price of $0.18 or $0.25, as applicable, (v) options to purchase shares of common
stock of Rhino converted into options to purchase shares of common stock of the Company with the same aggregate exercise price, (vi) the
sole officer and director of the Company (Lee Chong Chow) resigned and the sole officer and director of Rhino, Lyle Hauser was appointed
as the chief executive officer, president, secretary and director of the Company, (vii) Rhino purchased from the Selling Shareholders
an aggregate of 6,232,742 shares of common stock of the Company for an aggregate purchase price of $440