Company: RHNO
Filing Date: 2025-06-09
Form Type: 10-Q
Source: 0001641172-25-014247
Chunk: 8

Company: RHINO BITCOIN INC.
Filing Date: 2025-06-09
Form: 10-Q
Item: Item 1
Chunk 8
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 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

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

    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

    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

2.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis
of presentation

The
unaudited condensed financial statements for Phoenix Plus Corporation for the period ended April 30, 2025  are prepared in accordance
with accounting principles generally accepted in the United States of America (“US GAAP”) for interim financial statement,
instructions to Form 10-Q and Regulations S-X. Accordingly, certain information and footnote disclosures normally included in financial
statements prepared in accordance with GAAP have been condensed or omitted. These condensed financial statements should be read in conjunction
with the financial statements and notes thereto included in our annual report on Form 10-K for the year ended July 31, 2024. In management’s
opinion, all adjustments (consisting only of normal recurring adjustments) considered necessary for a fair presentation to make our financial
statements not misleading have been included. The results of operations for the periods ended April 30, 2025 and 2024 presented are not
necessarily indicative of the results to be expected for the full year. The Company has adopted