Company: RHNO
Filing Date: 2025-11-13
Form Type: 10-K
Source: 0001493152-25-022052
Chunk: 100

Company: RHINO BITCOIN INC.
Filing Date: 2025-11-13
Form: 10-K
Item: Item 1A
Chunk 100
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7.
CONTRACT ASSETS

Contract
assets as of July 31, 2025 and July 31, 2024 are summarized below:

SCHEDULE OF CONTRACT ASSETS

    As of  July 31, 2025 (Audited)  
    As of  July 31, 2024 (Audited) 
  
    Cost incurred 
    $1,848,642  
    $1,321,934 
  
    Attributable profit/(loss) 
     11,273  
     (45,312)
  
    Contract assets, gross 
     1,859,915  
     1,276,622 
  
    Progress billings 
     (1,646,728) 
     (1,007,188)
  
    Total contract assets 
    $213,187  
    $269,434 

8.
OTHER RECEIVABLES, PREPAYMENTS AND DEPOSITS

Other
receivables, prepayments and deposits consisted of the following at July 31, 2025 and July 31, 2024.

SCHEDULE
OF OTHER RECEIVABLES PREPAYMENTS AND DEPOSITS

    As of July 31, 2025 (Audited)  
    As of July 31, 2024 (Audited) 
  
    Other receivables 
    $4,924  
    $332 
  
    Deposits 
     32,345  
     12,469 
  
    Prepayments 
     964,467  
     - 
  
    Total other receivables, prepayments and deposits 
    $1,001,736  
    $12,801 

The
deposit amount of $30,247 (equivalent to MYR128,550) as a bank guarantee to CIMB Bank Berhad to undertake works for “The Design,
Engineering, Procurement, Construction, Installation, Testing and Commissioning (EPCC) for Capacity Expansion of a Solar Photovoltaic
(PV) Plant at Sungai Selangor Phase 2 Water Treatment Plant (the ‘Project’) – Package L6, Contract No. HSB/RE/32”.

The prepayment amount of $960,000 mainly represents the consideration for the acquisition of software pursuant to
the Software Purchase Agreement entered into with SunRay Equity Group Limited. As the software has not yet been placed into service and is not ready for use