Company: RHNO
Filing Date: 2025-11-13
Form Type: 10-K
Source: 0001493152-25-022052
Chunk: 604

Company: RHINO BITCOIN INC.
Filing Date: 2025-11-13
Form: 10-K
Item: Item 8
Chunk 604
---

Item
13. Certain Relationships and Related Transactions, and Director Independence.

Certain
Relationships and Related Transactions

Pursuant
to the Merger Agreement, on August 19, 2025, the Company issued 8,201,110 shares of common stock, 200,000 shares of Series A Preferred
Stock, and 2,000,000 options, to Lyle Hauser (or Vantage, an entity owned by Mr. Hauser), in exchange for the cancellation of their shares
and options of Rhino Digital.

Effective
August 19, 2025, the Company transferred all outstanding shares of the Company’s wholly-owned subsidiary, Phoenix Plus Malaysia
to Lee Chong Chow, the Company’s former chief executive officer.

During
the year ended July 31, 2025, Phoenix Plus paid $200,000 in management fees and $6,353 in interest on working capital loans to entities
controlled by Mr. Lee.

Director
Independence

Our
sole director, Lyle Hauser, is not independent.

Item
14. Principal Accountant Fees and Services.

Audit
Fees

The
aggregate fees billable to us by our principal accounting firm during the years ended July 31, 2025 and 2024 for the audit of our annual
financial statements and review of financial statements included in our Form 10-Qs or services that are normally provided by the accountant
in connection with statutory and regulatory filings or engagements for those fiscal years, were $24,000 and $22,500, respectively.

Audit-Related
Fees

We
incurred fees of $0 and $0 for the years ended July 31, 2025 and 2024, respectively, to our principal accountant for assurance and related
services that are reasonably related to the performance of the audit or review of our financial statements and are not reported under
“Audit Fees” above.

Tax
Fees

We
did not incur fees for services rendered to us for tax compliance, tax advice, or tax planning by our principal accountant for the fiscal
years ended July 31, 2025 and 2024.

All
Other Fees

We
did not incur any other fees to our principal accountant for the fiscal years ended July 31, 2025 and 2024.

17

PART
IV

Item
15. Exhibits and Financial Statement Schedules.

(1)
Financial statements.

The
Phoenix Plus financial statements are included following the signature page beginning on