Company: RIVF
Filing Date: 2025-07-24
Form Type: 10-Q
Source: 0001376474-25-000660
Chunk: 9

Company: Rivulet Entertainment, Inc.
Filing Date: 2025-07-24
Form: 10-Q
Item: Part I, Item 1
Chunk 9
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Item 1. Condensed Consolidated Financial Statements (unaudited)

Rivulet Entertainment, Inc.

Condensed Consolidated Balance Sheets

2024
 
2024 (2)

(unaudited)

ASSETS

CURRENT ASSETS

Cash
 
$79,049  
 
$101,721  

Prepaid expenses
 
221,573  
 
47,044  

Other current assets
 
125,903  
 
-  

Total current assets
 
$426,525  
 
$148,765  

NONCURRENT ASSETS

Film costs
 
$10,853,037  
 
$10,024,760  

Deposits
 
760,166  
 
854,390  

Equity investment 
 
2,000,000  
 
2,000,000  

Total noncurrent assets
 
$13,613,203  
 
$12,879,150  

Total assets
 
$14,039,728  
 
$13,027,915  

LIABILITIES AND SHAREHOLDERS' DEFICIT

CURRENT LIABILITIES

Accounts payable
 
$274,653  
 
$205,249  

Accrued expenses
 
1,408,748  
 
712,229  

Notes payable, current 
 
4,951,064  
 
4,890,000  

Other current liabilities
 
3,500,000  
 
154,689  

Total current liabilities
 
$10,134,465  
 
$5,962,167  

NONCURRENT LIABILITIES

Related party loans, non-current
 
2,880,000  
 
10,768,316  

Notes payable, non-current 
 
2,210,000  
 
1,330,000  

Total noncurrent liabilities
 
$5,090,000  
 
$12,098,316  

Total liabilities
 
$15,224,465  
 
$18,060,483  

Commitments and contingencies (Note 2)

SHAREHOLDERS' DEFICIT

Common stock, par value of $0.001;547,500,000 shares authorized;109,695,876 and 96,722,950 issued and outstanding as ofSeptember 30, 2024 and June 30, 2024, respectively(1)
 
$109,696