Company: RHNO
Filing Date: 2025-11-13
Form Type: 10-K
Source: 0001493152-25-022052
Chunk: 145

Company: RHINO BITCOIN INC.
Filing Date: 2025-11-13
Form: 10-K
Item: Item 1B
Chunk 145
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 on solar plant. The Company measures the performance of service work done by comparing the actual costs incurred with the
estimated total costs required to complete the services. Significant judgements are required to estimate the total contract costs to
complete. In making these estimates, management relied on estimates and also on past experience of completed projects. A change in the
estimates will directly affect the revenue to be recognized.

Cost
of revenue

Cost
of revenue includes the cost of services in providing consultancy services and installation services.

Cash
and cash equivalents

Cash
and cash equivalents are carried at cost and represent cash on hand, demand deposits placed with banks or other financial institutions
and all highly liquid investments with an original maturity of three months or less as of the purchase date of such investments.

Property,
plant and equipment 

Property,
plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses, if any. Depreciation is calculated
on the straight-line basis over the following expected useful lives from the date on which they become fully operational:

SCHEDULE
OF PROPERTY PLANT AND EQUIPMENT ESTIMATED USEFUL LIFE

    Classification
     
    Estimated
    useful life
  
    Leasehold
    improvement
     
    21
    months
  
    Computer
    hardware and software
     
    5
    years
  
    Machinery
     
    5
    years
  
    Motor
    vehicle
     
    5
    years
  
    Tools
    and gauges
     
    5
    years 
  
    Signage
     
    5
    years
  
    Furniture
    and fittings
     
    5
    years

Expenditures
for maintenance and repairs are expensed as incurred. The gain or loss on the disposal of property, plant and equipment is the difference
between the net sales proceeds and the carrying amount of the relevant assets and is recognized in the Consolidated Statements of Operations
and Comprehensive Loss.

    F-10

PHOENIX PLUS CORP. (NOW KNOWN AS RHINO BITCOIN INC.)

NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS

FOR
THE YEARS ENDED JULY 31, 2025 AND 2024

(Currency
expressed in United States Dollars (“US$”), except for number of shares) 

Investment
under equity method

The
Company apply the equity method to account for investments it possesses the ability to exercise significant influence, but not control,
over