Company: RHNO
Filing Date: 2025-11-13
Form Type: 10-K
Source: 0001493152-25-022052
Chunk: 415

Company: RHINO BITCOIN INC.
Filing Date: 2025-11-13
Form: 10-K
Item: Item 5
Chunk 415
---
 payables and accrued liabilities 
     43,103  
     (2,361)
  
    Operating lease liabilities 
     (29,115) 
     (25,795)
  
    Amount due to related company 
     105,127  
     - 
  
    Income tax payable 
     481  
     - 
  
    Net cash used in operating activities 
     (387,521) 
     (653,119)

    CASH FLOWS FROM INVESTING ACTIVITY: 

    Purchase of property, plant and equipment 
    $(3,030) 
    $(13,967)
  
    Net cash used in investing activity 
     (3,030) 
     (13,967)

    CASH FLOWS FROM FINANCING ACTIVITY: 

    Share issued 
     -  
     - 
  
    Net cash provided by financing activity 
     -  

    Effect of exchange rate changes on cash and cash equivalents 
    $(18,748) 
    $(6,602)

    Net decrease in cash and cash equivalents 
     (409,299) 
     (673,688)
  
    Cash and cash equivalents, beginning of year 
     434,351  
     1,108,039 
  
    CASH AND CASH EQUIVALENTS, END OF YEAR 
    $25,052  
    $434,351 
  
    SUPPLEMENTAL CASH FLOWS INFORMATION 

    Issuance of common stock for software acquisition 
     960,000  
     - 
  
    Income taxes paid 
    $-  
    $- 
  
    Interest paid 
    $-  
    $- 

See
accompanying notes to consolidated financial statements.

F-7

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)

1.
DESCRIPTION OF BUSINESS AND ORGANIZATION

Phoenix Plus Corp. (now known as Rhino Bitcoin Inc.) was incorporated on November 5, 2018 under the laws of the state of Nevada.

The
Company, through its subsidiaries, engaged in providing technical consultancy