Company: RHNO
Filing Date: 2025-11-13
Form Type: 10-K
Source: 0001493152-25-022052
Chunk: 176

Company: RHINO BITCOIN INC.
Filing Date: 2025-11-13
Form: 10-K
Item: Item 1C
Chunk 176
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 lease liability for
virtually all leases. The implementation of ASC 842 did not have a material impact on the Company’s consolidated financial statements
and did not have a significant impact on our liquidity. The Company adopted ASC 842 using a modified retrospective approach. As a result,
the comparative financial information has not been updated and the required disclosures prior to the date of adoption have not been updated
and continue to be reported under the accounting standards in effect for those periods. (see Note 14).

11

Recent
accounting pronouncements

Accounting
Standards Issued, Adopted

In
November 2023, the FASB issued ASU 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures”,
which expands annual and interim disclosure requirements for reportable segments, primarily through enhanced disclosures about significant
segment expenses. The ASU 2023-07 is effective for annual reporting periods beginning after December 15, 2023, and interim periods in
fiscal years beginning after December 15, 2024. Early adoption is permitted. The Company already adopted this ASU on its consolidated
financial statements and related disclosures.

Recent
accounting pronouncements

The
Company has reviewed all recently issued, but not yet effective, considers the applicability and impact of all accounting standards updates
(“ASUs”).

Management
periodically reviews new accounting standards that are issued.

In
December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. The new standard was issued
to improve transparency and decision usefulness of income tax disclosures by providing information that helps investors better understand
how an entity’s operations, tax risks, tax planning and operational opportunities affect its tax rate and prospects for future
cash flows. The amendments in this update primarily relate to requiring greater disaggregated disclosure of information in the rate reconciliation,
income taxes paid, income (loss) from continuing operations before income tax expense (benefit), and income tax expense (benefit) from
continuing operations. The ASU is effective for fiscal years beginning after December 15, 2024, and early adoption is permitted. The
standard can be applied prospectively or retrospectively.

In
November 2024, the FASB issued ASU 2024-03, Disaggregation of Income Statement Expenses. The new standard requires entities to disclose
additional information about certain expenses,