Company: RHNO
Filing Date: 2025-06-09
Form Type: 10-Q
Source: 0001641172-25-014247
Chunk: 61

Company: RHINO BITCOIN INC.
Filing Date: 2025-06-09
Form: 10-Q
Item: Item 8
Chunk 61
---

By
Business unit:

    For the period ended April 30, 2025 

    Solar 

    Revenue 
    $320,540 
  
    Cost of revenue 
     (289,135)
  
    Net loss 
     (346,760)

    Total assets 
    $637,911 

    F-18

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)

    For the period ended April 30, 2024 

    Solar 

    Revenue 
    $1,073,259 
  
    Cost of revenue 
     (1,149,608)
  
    Net loss 
     (369,057)

    Total assets 
    $982,552 

17.
RELATED PARTIES TRANSACTIONS

Material
Transactions with Related Parties

    Name
    of Related Parties
     
    Relationship
    to Us

    Radiance
    Holding Corp
     
    Radiance
    Holding Corp is the 83.05% corporate shareholder of the Company, also an entity controlled by our Chief Executive Officer
  
    JGK
    Holding (Malaysia) Sdn. Bhd.
     
    JGK
    Holding (Malaysia) Sdn. Bhd. is related company, an entity controlled by our Chief Executive Officer

We
carried out the following significant transactions with the related parties for the period ended April 30, 2025:

SCHEDULE OF SIGNIFICANT TRANSACTION WITH
RELATED PARTY 

    As of April 30, 2025 (Unaudited)  
    As of July 31, 2024 (Audited) 
  
    Transactions with related parties 

    Radiance Holding Corp 

    Management fee 
    $160,000  
    $- 

    JGK Holding (Malaysia) Sdn. Bhd. 

    Loan interest 
    $1,355  
    $- 

The
related party transactions mainly derived from the management fees associated with accounting and administrative work provided by related
party as well as interest charges on working capital loans obtained from related party.

F-19

ITEM
2. MANAGEMENT’S DISCUSSION AND