Company: RHNO
Filing Date: 2025-11-13
Form Type: 10-K
Source: 0001493152-25-022052
Chunk: 927

Company: RHINO BITCOIN INC.
Filing Date: 2025-11-13
Form: 10-K
Item: Item 12
Chunk 927
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herein referred as the “Malaysia Company”),
a private limited company incorporated in Labuan, Malaysia.

On
July 25, 2019, Phoenix Plus Corp., a Malaysia Company, acquired Phoenix Plus International Limited (herein referred as the “Hong
Kong Company”), a private limited company incorporated in Hong Kong.

On
May 17, 2022, the Company, through its Labuan incorporated subsidiary, Phoenix Plus Corp., subscribed 100% of the equity interests in
Phoenix Green Energy Sdn. Bhd., a private limited company incorporated in Malaysia.

The
Company, through its subsidiaries, mainly provides incubation and corporate development services to the clients. Details of the Company’s
subsidiaries:

SCHEDULE
OF DETAILS OF COMPANY’S SUBSIDIARY

    Company
    name
     
    Place
    and date of incorporation
     
    Particulars
    of issued capital
     
    Principal
    activities
     
    Proportional
    of ownership interest and voting power held

    1.
    Phoenix
    Plus Corp.
     
    Labuan
    / January 4, 2019
     
    100
    shares of ordinary share of US$1 each
     
    Investment
    holding
     
    100%

    2.
    Phoenix
    Plus International Limited
     
    Hong
    Kong / March 19, 2019
     
    1
    ordinary share of HK$1 each
     
    Providing
    technical consultancy on solar power system and consultancy on green energy solution
     
    100%

    3.
    
    Phoenix
    Green Energy Sdn. Bhd.
     
    Malaysia
    / May 17, 2022
     
    1,200,000
    shares of ordinary share of MYR1 each
     
    Providing
    renewable energy turnkey solutions from engineering, procurement, construction and commissioning services
     
    100%

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.

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