Company: RIVF
Filing Date: 2025-06-09
Form Type: 10-KT/A
Source: 0001376474-25-000520
Chunk: 9

Company: Rivulet Entertainment, Inc.
Filing Date: 2025-06-09
Form: 10-KT/A
Chunk 9
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, providing separate opinions on the critical audit matters or on the accounts or disclosures to which they relate. Fair Value of Consideration for Asset Purchase As described in Note 8 to the Company’s financial statements, the Company adheres to ASC 820, Fair Value Measurement. When the Company issued shares for the asset purchase agreement, they utilized the share price based on its most recent sale of unregistered securities. 4 We identified the Company’s application of the accounting for the fair value of consideration given for the asset purchase agreement as a critical audit matter. The principal considerations for our determination of this critical audit matter related to the high degree of subjectivity in the Company’s judgments in determining the qualitative factors. Auditing these judgments and assumptions by the Company involves auditor judgment due to the nature and extent of audit evidence and effort required to address these matters. The primary procedures we performed to address these critical audit matters included the following: ·We obtained the asset purchase agreement and memo of management’s accounting treatment for the transaction, and subscription agreement for unregistered sale of securities and performed the following procedures: -Reviewed agreements for all relevant terms. -Tested management’s identification and treatment of agreement terms. -Recalculated management’s fair value based on the terms in the agreements. -Assessed the terms and evaluated the appropriateness of management’s application of their accounting policies, along with their use of estimates, in the determination of the fair value of consideration.

5 Rivulet Entertainment, Inc. Balance Sheets (In United States dollars, except for shares data)

|                                                            |     |         As of 
 June 30, 2024 
    (restated) |     | December 31, 
         2023 |     | December 31, 
         2022 |
|:-----------------------------------------------------------|:----|--------------:|:----|-------------:|:----|-------------:|
| CURRENT ASSETS                                             |     |               |     |              |     |              |
| Cash and cash equivalents                                  |     |      $ 38,365 |     |        $ 480 |     |        $ 138 |
| Asset purchase deposit                                     |     |     2,950,000 |     |            - |     |            - |
| Total current assets                                       |     |     2,988,365 |     |          480 |     |          138 |
| NONCURRENT ASSETS                                          |     |               |     |              |     |              |
| Property, plant, and equipment, net                        |