Company: RHNO
Filing Date: 2025-06-09
Form Type: 10-Q
Source: 0001641172-25-014247
Chunk: 80

Company: RHINO BITCOIN INC.
Filing Date: 2025-06-09
Form: 10-Q
Item: Item 3
Chunk 80
---
,
the Writ and Statement of Claim only came to PGESB’s attention after March 19, 2024.

Upon
receiving the WRIT, PGESB have appointed Messrs. Andrew, Jye & Co. as solicitor on this matter.

On
April 12, 2024, Messrs. Andrew, Jye & Co submitted on behalf of PGESB a written response to the court, seeking to set aside the judgment
and initiate another round of case management. Additionally, on April 25, 2024, the solicitor delivered on-behalf PGESB a letter on to
LHSB’s solicitor, proposing a settlement of MYR90,000.00 (“Proposed Settlement”). As of June 12, PGESB are still awaiting
response from LHSB.

In
the event that LHSB reject the Proposed Settlement, both parties are required to serve Written Submission and Reply Submission by June
21, 2024 and July 5, 2024, respectively. A judgement are scheduled on July 24, 2024, which could be withdrawn with the acceptance of
Proposed Settlement by LHSB prior to the date.

On
August 27, 2024, LHSB’s solicitor, on behalf of LHSB, confirmed acceptance of the proposed settlement, with payment due on or before
September 6, 2024. PGESB made full payment of the proposed settlement on September 4, 2024. On September 6, 2024, the court was issued
the notice of discontinuance.

Item
1A. Risk Factors.

We
are a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide the information
under this item.

Item
2. Unregistered Sales of Equity Securities and Use of Proceeds

None

7

Item
3. Defaults Upon Senior Securities

None

Item
4. Mine Safety Disclosures

Not
applicable.

Item
5. Other Information.

None

ITEM
6. Exhibits

    Exhibit
    No.
     
    Description

    31.1
     
    Rule 13(a)-14(a)/15(d)-14(a) Certification of principal executive officer*

    32.1
     
    Section 1350 Certification of principal executive officer *

    101.INS
     
    Inline