Company: RHNO
Filing Date: 2025-11-13
Form Type: 10-K
Source: 0001493152-25-022052
Chunk: 165

Company: RHINO BITCOIN INC.
Filing Date: 2025-11-13
Form: 10-K
Item: Item 1B
Chunk 165
---
 operating expenses 
     (4,951) 
     (4,951)

    Loss from operations 
     (432,951) 
     (432,951)

    Total assets 
    $921,631  
    $921,631 
  
    Capital expenditure 
    $-  
    $- 

18.
RELATED PARTIES TRANSACTIONS

Material
Transactions with Related Parties

    Name
    of Related Parties
     
    Relationship
    to Us

    Radiance
    Holding Corp
     
    Radiance
    Holding Corp is the 80.64% corporate shareholder of the Company, also an entity controlled by our Chief Executive Officer
  
    JGK
    Holding (Malaysia) Sdn. Bhd.
     
    JGK
    Holding (Malaysia) Sdn. Bhd. is related company, an entity controlled by our Chief Executive Officer

We
carried out the following significant transactions with the related parties for the year ended July 31, 2025:

SCHEDULE OF SIGNIFICANT TRANSACTION WITH
RELATED PARTY 

    As of July 31, 2025 (Audited)  
    As of July 31, 2024 (Audited) 
  
    Transactions with related parties 

    Radiance Holding Corp 

    Management fee 
    $200,000  
    $           - 

    JGK Holding (Malaysia) Sdn. Bhd. 

    Loan interest 
    $6,353  
    $- 

The
related party transactions mainly derived from the management fees associated with accounting and administrative work provided by related
party as well as interest charges on working capital loans obtained from related party.

    F-22

 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)

19.
SUBSEQUENT EVENTS

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. (“Rh