Company: RHNO
Filing Date: 2025-11-13
Form Type: 10-K
Source: 0001493152-25-022052
Chunk: 58

Company: RHINO BITCOIN INC.
Filing Date: 2025-11-13
Form: 10-K
Item: Item 1
Chunk 58
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 to purchase shares of common stock of the Company with the same aggregate
exercise price, (vi) the sole officer and director of the Company (Lee Chong Chow) resigned and the sole officer and director of Rhino,
Lyle Hauser was appointed as the chief executive officer, president, secretary and director of the Company, (vii) Rhino purchased from
the Selling Shareholders an aggregate of 6,232,742 shares of common stock of the Company for an aggregate purchase price of $440,000
and returned such shares to the Company for cancellation. In accordance with the foregoing, the Company issued an aggregate of 73,295,981
shares of common stock to stockholders and note holders of Rhino. Concurrently with the closing of the Merger Agreement, all outstanding
shares of the Company’s wholly-owned subsidiary, Phoenix Plus Corp., a Labuan, Malaysia corporation (“Phoenix Plus Labuan”),
were transferred to Mr. Lee.

In
connection with the closing of the Merger Agreement, the Company filed a certificate of designation of Series A Preferred Stock with
Secretary of State of Nevada, pursuant to which the Company designated 200,000 shares as Series A Preferred Stock, and issued 200,000
shares of Series A Preferred Stock to The Vantage Group Ltd. (“Vantage”), an entity owned by Mr. Hauser. The Series A Preferred
Stock entitles the holder to 51% of the total voting power of the Company’s stockholders, is convertible into shares of common
stock at a ratio of 4.44 shares of common stock for each share of Series A Preferred Stock (subject to adjustment for stock dividends,
stock splits, and similar transactions), has a stated value of $3.00 per share, and will entitle the holder upon any liquidation of the
Company to the stated value prior to any distributions to holders of common stock.

Lyle
Hauser, 54, is the Founder & CEO of Rhino Digital Inc., since June 2020. Mr. Hauser is also the Founder and CEO of Vantage, a private
equity firm started in 1998. Vantage is a specialized business consultancy firm serving early-stage companies. Mr. Hauser’s expertise
includes company capital structure/restructuring, equity and debt financing, capital introductions, alternative public offerings (or
APOs) and mergers and acquisitions.

Rhino
is a Bitcoin financial services company focused on making everyday banking and financial management accessible. Serving individuals,
businesses, and