Company: RIVF
Filing Date: 2025-06-09
Form Type: 10-KT/A
Source: 0001376474-25-000520
Chunk: 3

Company: Rivulet Entertainment, Inc.
Filing Date: 2025-06-09
Form: 10-KT/A
Chunk 3
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 of the Company's plans, objectives, expectations and intentions. When used in this document, the words "expects", "anticipates", "intends" and "plans" and similar expressions are intended to identify certain of these forward-looking statements. The cautionary statements made in this document should be read as being applicable to all related forward-looking statements wherever they appear in this document. Our actual results could differ materially from those discussed in this document. Liquidity and Capital Resources At June 30, 2024, we had current assets of $2,988,365 and current liabilities of $192,654 as compared to current assets of $480 and $138 and current liabilities of $350,196 and $343,731 as of December 31, 2023 and December 31, 2022, respectively. Because of our history of losses, net capital deficit and lack of assurance of additional financing, the audit report on our financial statements contains a "going concern" opinion regarding doubt about our ability to continue as a going concern. Our president and CEO, Walter Geldenhuys, has loaned or advanced to us funds for working capital on an "as needed" basis. There is no assurance that these loans or advances will continue in the future. At June 30, 2024 we had accrued payroll of $192,654. Further, as of December 31, 2023 and December 31, 2022, we owed our officers accrued payroll of $219,677 and $162,380, respectively. As of December 31, 2023, and 2022, Walter Geldenhuys, who is our President and Chief Executive Officer, and who serves as a member of our Board of Directors advanced the Company $12,500 and $6,000, respectively. Our Secretary / Treasurer advanced the Company a total of $0 and $38,188 during the years ended December 31, 2023 and December 31, 2022, respectively. All of the related party loans were paid in full as of June 30, 2024. In addition to the related party loans noted above, we have also made sales of our common stock in private transactions as follows: During March of 2024, the Company entered into a Subscription Agreement with one private investor. Pursuant to the Subscription Agreement, the Company sold 7,500,000 shares of common stock at a purchase price of $0.40 per share for a total of $3,000,