Company: RIVF
Filing Date: 2025-06-09
Form Type: 10-KT/A
Source: 0001376474-25-000520
Chunk: 12

Company: Rivulet Entertainment, Inc.
Filing Date: 2025-06-09
Form: 10-KT/A
Chunk 12
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 from investors to raise capital at this time,, the Company hopes to continue hopes to fund its business through the sale of unregistered shares. Cash and Cash Equivalents The Company considers all highly liquid instruments with original maturities of three months or less when acquired to be cash equivalents. The Company had cash at June 30, 2024, December 31, 2023, and December 31, 2022 of $38,365, $480 and $138, respectively. Related Party Disclosures The Company considers the guidance in Accounting Standards Codification ASC 850-Related Party Disclosures when determining whether a transaction constitutes a related party transaction. Further, when a related party transaction is identified, the Company i) provides the information required by ASC 850-10-50 and ii) presents the transaction on the face of its financial statements in accordance with Rule 4-08(k) of Regulation S-X. Commitments and Contingencies The Company recognizes contingencies in accordance with ASC 450 Contingences. We recognize loss contingencies when they are both probable and estimable. To that extent, the Company was not involved in any litigation or other matters as of June 30, 2024 that could potentially require the need to recognize a loss contingency. Earnings Per Share The Company determines earnings per shares ("EPS") in accordance with ASC 260. Basic income (loss) per share is calculated by dividing net income (loss) attributable to common shareholders by the weighted-average number of common shares outstanding during the period. Diluted income (loss) per share reflects the potential dilution assuming common shares were issued upon the exercise of outstanding options and the proceeds thereof were used to purchase outstanding common shares. Dilutive potential common shares include outstanding stock options, warrants and restricted stock and performance share awards. For the six months ended June 30, 2024 and the two years ended December 31, 2023, basic and diluted earnings per share was the same as the Company recognized a net loss in all of those periods and the inclusion of diluted shares would have been anti-dilutive. To that extent, the Company did not have any outstanding financial instruments, such as warrants, options or convertible debt, that could potentially be dilutive to its EPS during any of the periods included in the filing. 11 Income Taxes The Company uses the asset and liability method of accounting for deferred income taxes. Deferred income taxes are measured by applying enacted statutory rates to net operating loss carryforwards and to the differences between the financial reporting