Company: RHNO
Filing Date: 2025-11-13
Form Type: 10-K
Source: 0001493152-25-022052
Chunk: 1

Company: RHINO BITCOIN INC.
Filing Date: 2025-11-13
Form: 10-K
Item: Item 1
Chunk 1
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 conversion price
of $0.18 or $0.25, as applicable, (v) options to purchase shares of common stock of Rhino Digital converted into options to purchase
shares of common stock of the Company with the same aggregate exercise price, (vi) the sole officer and director of the Company (Lee
Chong Chow) resigned and the sole officer and director of Rhino Digital, Lyle Hauser was appointed as the chief executive officer, president,
secretary and director of the Company, (vii) Rhino Digital purchased from the Selling Shareholders an aggregate of 6,232,742 shares of
common stock of the Company for an aggregate purchase price of $440,000 and returned such shares to the Company for cancellation. In
accordance with the foregoing, the Company issued an aggregate of 73,289,871 shares of common stock to stockholders and note holders
of Rhino Digital. Concurrently with the closing of the Merger Agreement, all outstanding shares of Phoenix Plus Labuan were transferred
to Mr. Lee.

In
connection with the closing of the Merger Agreement, the Company filed a certificate of designation of Series A Preferred Stock with
the Secretary of State of Nevada, pursuant to which the Company designated 200,000 shares as Series A Preferred Stock, and issued 200,000
shares of Series A Preferred Stock to The Vantage Group Ltd. (“Vantage”), an entity owned by Mr. Hauser. The Series A Preferred
Stock entitles the holder to 51% of the total voting power of the Company’s stockholders, is convertible into shares of common
stock at a ratio of 4.44 shares of common stock for each share of Series A Preferred Stock (subject to adjustment for stock dividends,
stock splits, and similar transactions), has a stated value of $3.00 per share, and will entitle the holder upon any liquidation of the
Company to the stated value prior to any distributions to holders of common stock.

3

Effective
upon closing of the Merger Agreement, Rhino Digital became a wholly owned subsidiary of the Company. The acquisition of Rhino Digital
is treated as a reverse acquisition, and the business of Rhino Digital became the business of
the Company.

The
closing of the Merger Agreement resulted in a change in control of the Company. Pursuant to the Merger Agreement, Lyle Hauser, as the
owner and control person of Vantage (the holder of the Company’s Series A Preferred Stock issued pursuant to the Mer