Company: RHNO
Filing Date: 2025-11-13
Form Type: 10-K
Source: 0001493152-25-022052
Chunk: 44

Company: RHINO BITCOIN INC.
Filing Date: 2025-11-13
Form: 10-K
Item: Item 1
Chunk 44
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(Currency
expressed in United States Dollars (“US$”), except for number of shares)

On
May 23, 2023, the Company’s solicitor, Messrs. Amos Ho, Sew & Kiew, has delivered an affidavit on compliance of all provisions
of Companies Winding UP Rules 1972 (Malaysia). On the same day, the Company’s solicitor also delivered an affidavit to the local
court to confirm serving of Memorandum of Advertisement and Gazetting to Registrar of Companies and Insolvency Department.

The
Company also advertised the Winding Up Order in the newspaper NST and had it gazetted.

6.
TRADE RECEIVABLES

Trade
receivables consisted of the following at July 31, 2025 and July 31, 2024:

SCHEDULE OF TRADE RECEIVABLES

    As of  July 31, 2025 (Audited)  
    As of  July 31, 2024 (Audited) 
  
    Trade receivables 
    $202,461  
    $127,651 
  
    Less: Allowance for credit losses 
     (116,687) 
     (116,687)
  
    Add: Reversal of allowance for credit losses 
     116,687  
     - 
  
    Total trade receivables 
    $202,461  
    $10,964 

7.
CONTRACT ASSETS

Contract
assets as of July 31, 2025 and July 31, 2024 are summarized below:

SCHEDULE OF CONTRACT ASSETS

    As of  July 31, 2025 (Audited)  
    As of  July 31, 2024 (Audited) 
  
    Cost incurred 
    $1,848,642  
    $1,321,934 
  
    Attributable profit/(loss) 
     11,273  
     (45,312)
  
    Contract assets, gross 
     1,859,915  
     1,276,622 
  
    Progress billings 
     (1,646,728) 
     (1,007,188)
  
    Total contract assets 
    $213,187  
    $269,434 

8.
OTHER RECEIVABLES, PREPAYMENTS AND DEPOSITS

Other
receivables, prepayments and deposits consisted of