Company: RHNO
Filing Date: 2025-11-13
Form Type: 10-K
Source: 0001493152-25-022052
Chunk: 227

Company: RHINO BITCOIN INC.
Filing Date: 2025-11-13
Form: 10-K
Item: Item 2
Chunk 227
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 the estimated total
costs. The revenue from non-contract customers is recognized upon the delivery of services.

The
Company applied judgements and assumptions that significantly affect the determination of the amount and timing of revenue recognized
from contracts with customers for green energy solutions engineering projects, ship and offshore maintenance, repair and operation services.
The Company measures the performance of service work done by comparing the actual costs incurred with the estimated total costs required
to complete the services. Significant judgements are required to estimate the total contract costs to complete. In making these estimates,
management relied on estimates and also on past experience of completed projects. A change in the estimates will directly affect the
revenue to be recognized.

Cost
of revenue

Cost
of revenue includes the cost of services in providing consultancy services and installation services.

Income
taxes

Income
taxes are determined in accordance with the provisions of ASC Topic 740, “Income Taxes” (“ASC Topic 740”).
Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between
the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities
are measured using enacted income tax rates expected to apply to taxable income in the year in which those temporary differences are
expected to be recovered or settled. Any effect on deferred tax assets and liabilities of a change in tax rates is recognized in income
in the year that includes the enactment date.

ASC
740 prescribes a comprehensive model for how companies should recognize, measure, present, and disclose in their financial statements
uncertain tax positions taken or expected to be taken on a tax return. Under ASC 740, tax positions must initially be recognized in the
financial statements when it is more likely than not the position will be sustained upon examination by the tax authorities. Such tax
positions must initially and subsequently be measured as the largest amount of tax benefit that has a greater than 50% likelihood of
being realized upon ultimate settlement with the tax authority assuming full knowledge of the position and relevant facts.

Net
loss per share

The
Company calculates net loss per share in accordance with ASC Topic 260, “Earnings per Share.” Basic loss per share
is computed by dividing the net loss by the weighted-average number of common shares outstanding during the year. Diluted income per
share is computed similar to basic loss per share except that the denominator is increased to include the number of additional common
shares that would have been outstanding if the potential common stock equivalents had