Company: RIVF
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024216
Chunk: 64

Company: Rivulet Entertainment, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 64
---
 beginning after December 15, 2023, and interim
periods within fiscal years beginning after December 15, 2024. The adoption of ASU 2023-07 did not have a material impact on its combined
financial statements.

In
December 2023, the FASB issued ASU 2023-09-Income Taxes (Topic 740)-Improvements to Income Tax Disclosures, which requires entities
to provide additional information in the rate reconciliation and additional disclosures about income taxes paid. The guidance should
be applied prospectively and is effective for annual periods beginning after December 15, 2024. The Company does not expect the issued
standard will have a material impact on its combined financial statements.

20

In
November 2024, the FASB issued ASU 2024-03, Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures
(Subtopic 220-40). The amendments in this update require disclosure, in the notes to combined financial statements, of specified information
about certain costs and expenses at each interim and annual reporting period. The amendments are effective for annual periods beginning
after December 15, 2026, and reporting periods beginning after December 15, 2027, with early adoption permitted. The Company is currently
evaluating the impact that the new ASU will have on its combined financial statements.

Item
3. Quantitative and Qualitative Disclosures about Market Risk

As
a smaller reporting company, we are not required to provide the information required by this Item.

Item
4. Controls and Procedures

Evaluation
of Disclosure Controls and Procedures

Our
management, with the participation of our chief executive officer/chief financial officer, evaluated the effectiveness of our disclosure
controls and procedures as defined in Rules 13a-15(e) and 15d-15(e) and pursuant to Rules 13a-15(b) and 15d-15(b) under the Securities
Exchange Act of 1934, as amended (the “Exchange Act”) as of December 31, 2024. Disclosure controls and procedures are controls
and procedures that are designed to ensure that information required to be disclosed in our reports filed or submitted under the Exchange
Act, such as this Form 10-Q, is recorded, processed, summarized and reported, within the time period specified in the SEC’s rules
and forms, and that such information is accumulated and is communicated to our management, including our principal executive and principal