Company: RIVF
Filing Date: 2025-07-24
Form Type: 10-Q
Source: 0001376474-25-000660
Chunk: 15

Company: Rivulet Entertainment, Inc.
Filing Date: 2025-07-24
Form: 10-Q
Item: Part I, Item 1
Chunk 15
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 are prepared in accordance with United States generally accepted accounting principles (“US GAAP”) for interim financial information and with Article 8 of Regulation S-X. In addition, as a film production company, the Company also complies with the incremental guidance in Accounting Standards Codification 

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(“ASC”) 926, Entertainment-Films. All comparative period financial information reflects the results of the former Rivulet Media, inc. entities under common control that were transferred as part of the transaction.  
 
In the opinion of management, the interim financial statements reflect all normal recurring adjustments necessary for a fair statement of the Company's financial condition and operating results as of and for the periods presented. Revenue, expenses, assets and liabilities can vary during each quarter of the year. Therefore, the interim results and trends in the interim financial statements may not be representative of those for the full year or any future period.
 
Principles of Consolidation 
 
The Company evaluates the need to consolidate other entities based on the guidance set forth in ASC 810, Consolidation (“ASC 810”). To that extent, the Company will consolidate entities in which it has a controlling financial interest based on the guidance in the ASC topic. As of September 30, 2024, Rivulet Entertainment, Inc. consolidated included the following wholly owned subsidiaries:

Entity Name
Year of Incorporation
Percentage Ownership

Nutcracker, LLC
2023
100%

Kicklight, LLC
2023
100%

Good News, LLC
2021
100%

Please Baby Please LLC
2020
100%

Mistress Movie, LLC
2020
100%

LAC2 Productions, LLC
2022
100%

Acolyte Productions, LLC
2022
100%

Storyland Productions, LLC 
2021
100%

Da Vinci, LLC
2023
100%

Garden, LLC
2023
100%

Storyland Animation, LLC
2021
100%

Rivulet Media Ventures, LLC
2023
100%

The Dink Productions, LLC
2024
100%

Going Concern
 
The Company had cash of $79,049 as of September 30, 2024. Further, the Company incurred a net loss of $603,364, negative working capital of $9.7 million, stockholders’ deficit of $1.2 million and cash flow used in operations of $1.0 million for the interim period ended September 30, 2024. As such, the Company