Company: RHNO
Filing Date: 2025-11-13
Form Type: 10-K
Source: 0001493152-25-022052
Chunk: 444

Company: RHINO BITCOIN INC.
Filing Date: 2025-11-13
Form: 10-K
Item: Item 6
Chunk 444
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Item
7. Management’s Discussion and Analysis of Financial Conditions and Results of Operations. 

Certain
statements in “Management’s Discussion and Analysis of Financial Condition and Results of Operations” below, and elsewhere
in this annual report, are not related to historical results, and are forward-looking statements.

Forward-looking
statements present our expectations or forecasts of future events. You can identify these statements by the fact that they do not relate
strictly to historical or current facts. These statements involve known and unknown risks, uncertainties and other factors that may cause
our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity,
performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements frequently are accompanied
by such words such as “may,” “will,” “should,” “could,” “expects,” “plans,”
“intends,” “anticipates,” “believes,” “estimates,” “predicts,” “potential”
or “continue,” or the negative of such terms or other words and terms of similar meaning. Although we believe that the expectations
reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance, achievements,
or timeliness of such results. Moreover, neither we nor any other person assumes responsibility for the accuracy and completeness of
such forward-looking statements. We disclaim any obligation to publicly update these statements, or disclose any difference between actual
results and those reflected in these statements, except as may be required under applicable law

You
should read the following description of our financial condition and results of operations in conjunction with the financial statements
and accompanying notes included in this Annual Report beginning on page F-1.

Overview

During
the years ended July 31, 2024 and 2025, Phoenix Plus operated through its wholly owned subsidiary, Phoenix Plus Labuan (which owned 100% of Phoenix Plus International Limited, an operating Hong Kong company and 100% of Phoenix Green Energy
Sdn. Bhd., an operating Malaysia company). During such periods, the Company was engaged in providing technical consultancy on solar power systems and consultancy on green energy
solutions.

On
August 19, 2025, the Company acquired all of the outstanding capital stock of Rhino Digital. The acquisition of Rhino Digital is treated
as a reverse acquisition (the “Reverse Acquisition”), and the business of Rhino Digital became the business of the Company.
Concurrently with the closing of the Reverse Acquisition, all outstanding