Company: RHNO
Filing Date: 2025-11-13
Form Type: 10-K
Source: 0001493152-25-022052
Chunk: 280

Company: RHINO BITCOIN INC.
Filing Date: 2025-11-13
Form: 10-K
Item: Item 3
Chunk 280
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 2024.

General
and Administrative Expenses

General
and administrative expenses for the year ended July 31, 2025 and 2024 amounted to $572,495 and $379,088 respectively. These expenses
are comprised of salary, consultancy fees for listing advisory, professional fee, compliance fee, office and outlet operation expenses
and depreciation. The increase was mainly due to management fee paid to related company.

Other
operating expenses

Other
operating expenses for the year ended July 31, 2025 and 2024 amounted to $360 and $4,951 respectively. These expenses derived from foreign
exchange loss.

Other
Income

The
Company recorded an amount of $57,491 and $3,692 as other income for the year ended July 31, 2025 and 2024 respectively. This income
is derived from unrealized gain on foreign exchange, bank interest income and gain on derecognition of right-of-use and lease liabilities.

Net
Loss and Net Loss Margin

The
net loss was $458,364 for the year ended July 31, 2025 as compared to $437,781 for the year ended July 31, 2024. The increase in net
loss resulted from the increase in general and administrative expenses. Taking into account the loss for the year ended July 31,
2025, the accumulated loss for the Company increased from $2,587,431 to $3,045,795.

Liquidity
and Capital Resources

As
of July 31, 2025, we had cash and cash equivalents of $25,052 as compared to $434,351 for the year ended July 31, 2024.

Over the next twelve months, we expect to incur approximately $3.5 million
in general and administrative expenses to execute our business plan, including substantial investments in sales, marketing, research,
and technical development. We must obtain additional financing to continue our operations. We may not
be able to obtain additional funding on terms that are favorable to us or at all. We may not be able to obtain sufficient funding to continue
our operations, or to generate adequate revenues or to operate profitably in the future. These conditions raise substantial doubt about
our ability to continue as a going concern.

As discussed above, on August 19, 2025, we completed the Reverse Acquisition, and this discussion of our liquidity
and capital resources over the next twelve months relates to our business following the Reverse Acquisition.