Company: RHNO
Filing Date: 2025-06-09
Form Type: 10-Q
Source: 0001641172-25-014247
Chunk: 7

Company: RHINO BITCOIN INC.
Filing Date: 2025-06-09
Form: 10-Q
Item: Item 1
Chunk 7
---
,350)
  
    Net cash used in investing activity 
     (1,438) 
     (2,350)

    CASH FLOWS FROM FINANCING ACTIVITY: 

    Net cash provided by financing activity 
     -  
     - 

    Effect of exchange rate changes on cash and cash equivalents 
    $(19,925) 
     (34,412)

    Net decrease in cash and cash equivalents 
     (278,220) 
     (546,676)
  
    Cash and cash equivalents, beginning of year 
     434,351  
     1,108,039 
  
    CASH AND CASH EQUIVALENTS, END OF PERIOD 
    $156,131  
     561,363 
  
    SUPPLEMENTAL CASH FLOWS INFORMATION 

    Income taxes paid 
    $-  
    $- 
  
    Interest paid 
    $-  
    $- 

See
accompanying notes to condensed consolidated financial statements.

F-5

PHOENIX
PLUS CORP.

NOTES
TO CONDENSED FINANCIAL STATEMENTS

FOR
THE NINE MONTHS ENDED APRIL 30, 2025

(Currency
expressed in United States Dollars (“US$”), except for number of shares)

(UNAUDITED)

1.
DESCRIPTION OF BUSINESS AND ORGANIZATION

Phoenix
Plus Corp. was incorporated on November 5, 2018 under the laws of the state of Nevada.

The
Company, through its subsidiaries, engaged in providing technical consultancy on solar power system and consultancy on green energy solution,
and also focused on the commercialization of a targeted portfolio of solar products (amorphous thin film solar panels and ancillary products)
and technologies for a wide range of applications including electrical power production.

On
March 18, 2019, the Company acquired 100% of the equity interests in Phoenix Plus Corp. (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