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

Company: RHINO BITCOIN INC.
Filing Date: 2025-11-13
Form: 10-K
Item: Item 1
Chunk 11
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uted 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 been issued and if the additional common shares
were dilutive.

Foreign
currencies translation

Transactions
denominated in currencies other than the functional currency are translated into the functional currency at the exchange rates prevailing
at the dates of the transaction. Monetary assets and liabilities denominated in currencies other than the functional currency are translated
into the functional currency using the applicable exchange rates at the balance sheet dates. The resulting exchange differences are recorded
in the statements of operations.

The
reporting currency of the Company is United States Dollars (“US$”). The Company’s subsidiary in Labuan and Hong Kong
maintains its books and record in United States Dollars (“US$”) respectively, while the Company’s subsidiary in Malaysia
maintains its books and record in Ringgit Malaysia (“MYR”). Ringgit Malaysia (“MYR”) is functional currency as
being the primary currency of the economic environment in which the entity operates.

In
general, for consolidation purposes, assets and liabilities of its subsidiary whose functional currency is not the US$ are translated
into US$, in accordance with ASC Topic 830-30, “Translation of Financial Statement”, using the exchange rate on the
balance sheet date. Revenues and expenses are translated at average rates prevailing during the year. The gains and losses resulting
from translation of financial statements of foreign subsidiary are recorded as a separate component of accumulated other comprehensive
income within the statement of stockholders’ equity.

10

Translation
of amounts from MYR into US$1 and HK$ into US$1 has been made at the following exchange rates for the respective year:

    As of and for the year ended July 31, 

    2025  
    2024 

    Year-end MYR: US$1 exchange rate 
     4.25  
     4.60 
  
    Year-average MYR: US$1 exchange rate 
     4.25  
     4.70 
  
    Year-end HK$: US$1 exchange rate 
     7.85  
     7.81 
  
    Year-average HK$: US$1 exchange rate 
     7.83  
     7.81 

Related
parties

Parties,
which can be a corporation or individual, are considered to be related if the