Company: RHNO
Filing Date: 2025-11-13
Form Type: 10-K
Source: 0001493152-25-022052
Chunk: 744

Company: RHINO BITCOIN INC.
Filing Date: 2025-11-13
Form: 10-K
Item: Item 9B
Chunk 744
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 statements of consolidated statements of operations and
comprehensive loss, consolidated statements of changes in stockholders’ equity, and consolidated statements of cash flows for
each of the years in the two-year period ended July 31, 2025 and 2024, and the related notes (collectively referred to as the
“financial statements”). In our opinion, the financial statements present fairly, in all material respects, the
financial position of the Company as of July 31, 2025 and 2024, and the results of its operations and its cash flows for each of the
years in the two-year period ended July 31, 2025 and 2024, in conformity with accounting principles generally accepted in the United
States of America.

Substantial
Doubt About the Entity’s Ability to Continue as a Going Concern

The
accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in
Note 2 to the financial statements, for the year ended July 31, 2025, the Company has accumulated deficit of $3,045,795, negative
net operating cash flow of $387,521 and net loss of $458,364. These conditions raise substantial doubt about the Company’s
ability to continue as a going concern. Management’s plan in regard to these matters are also described in Note 2. The
financial statements do not include any adjustments that might result from the outcome of this uncertainty.

Basis
for Opinion

These
financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on the Company’s
financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board
(United States) (“PCAOB”) and are required to be independent with respect to the Company in accordance with the U.S. federal
securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We
conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Company
is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits
we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion
on the effectiveness