Company: RHNO
Filing Date: 2025-11-13
Form Type: 10-K
Source: 0001493152-25-022052
Chunk: 824

Company: RHINO BITCOIN INC.
Filing Date: 2025-11-13
Form: 10-K
Item: Item 9C
Chunk 824
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    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. (“Rhino”), and solely with respect to Section 9.1(d) of the Merger Agreement, the Selling Shareholders named
therein.

Pursuant
to the Merger Agreement, effective upon the closing thereof, (i) Merger Sub merged with and into Rhino, with Rhino surviving as the wholly-owned
subsidiary of the Company, (ii) each share of common stock of Rhino converted into the right to receive two shares of common stock of
the Company, (iii) the outstanding shares of Series A Preferred Stock of Rhino converted into an aggregate of 200,000 shares of newly
created Series A Preferred Stock of the Company with substantially identical terms as the Rhino Series A Preferred Stock, (iv) convertible
notes of Rhino converted into shares of common stock of the Company at a conversion price of $0.18 or $0.25, as applicable, (v) options
to purchase shares of common stock of Rhino 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,
Lyle Hauser was appointed as the chief executive officer, president, secretary and director of the Company, (vii) Rhino purchased from