Company: RHNO
Filing Date: 2025-11-13
Form Type: 10-K
Source: 0001493152-25-022052
Chunk: 534

Company: RHINO BITCOIN INC.
Filing Date: 2025-11-13
Form: 10-K
Item: Item 7
Chunk 534
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377  
     377 
  
    Motor vehicle 
     11,304  
     11,304 
  
    Tools and gauges 
     3,397  
     3,123 
  
    Furniture and fittings 
     1,570  
     - 
  
    Total 
     27,041  
     139,361 
  
    Accumulated depreciation 
     (9,683) 
    $(118,450)
  
    Effect of translation exchange 
     1,419  
     (94)
  
    Property, plant and equipment, net 
    $18,777  
    $20,817 

These
leasehold improvements include, but are not strictly limited to, preparing the interior of the office space for the Company’s use,
improving functionality, and purchasing new office equipment. The leasehold improvement has completed on September 2019.

Depreciation
expense for the year ended July 31, 2025 and July 31, 2024 was $5,677 and $2,896 respectively.

5.
EQUITY METHOD INVESTMENT

SCHEDULE
OF EQUITY METHOD INVESTMENT

    As of  July 31, 2025 (audited)  
    As of  July 31, 2024 (audited) 
  
    Investment, at cost 
    $232,040  
    $232,040 
  
    Equity method loss 
     (335) 
     (335)
  
    Impairment loss on investment 
     (231,705) 
     (231,705)
  
    Equity method investment 
    $-  
    $- 

The
Company holds investment in business that is accounted for pursuant to the equity method due to the Company’s ability to exert
significant influence over decisions relating to its operating and financial affairs. Revenue and expenses of this investment are not
consolidated into the Company’s financial statements; rather, the proportionate share of the earnings/losses is reflected as equity
method earnings/losses in statements of operations and comprehensive income/loss.

As
of July 31, 2022, the Company holds 33.9% interest in Vettons City Angels Sdn. Bhd, a Malaysia corporation (hereinafter referred as “VCASB”).
The Company accounted $335 of equity method loss of investment in VCASB for the year