Company: RIVF
Filing Date: 2025-10-15
Form Type: 10-K
Source: 0001493152-25-018109
Chunk: 314

Company: Rivulet Entertainment, Inc.
Filing Date: 2025-10-15
Form: 10-K
Item: Item 5
Chunk 314
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 including future reversals of existing taxable
temporary differences, projected future taxable income, tax-planning strategies, and results of recent operations.

A
reconciliation of the federal income tax rate to the Company’s effective tax rate for the periods ended June 30, 2025 and June
30, 2024 were as follows:

 SCHEDULE OF RECONCILIATION OF THE FEDERAL INCOME TAX RATE

    June
    30, 2025  
    June
    30, 2024 

    For
    the years ended 

    June
    30, 2025  
    June
    30, 2024 
  
    Federal
    Statutory Rate 
     21% 
     21%
  
    State tax,
    net on income tax benefit 
     3.87% 
     3.87%
  
    Change
    in Valuation Allowance 
     -24.87% 
     -24.87%
  
    Effective
    Tax Rate 
     -  
     - 

We
account for income taxes using the asset and liability method. Deferred taxes are recorded based on differences between the financial
statement basis and tax basis of assets and liabilities and available tax loss and credit carryforwards.

    F-14

The
significant components of our deferred taxes consisted of the following:

 SCHEDULE OF SIGNIFICANT COMPONENTS OF OUR DEFERRED TAXES

    June
    30, 2025  
    June
    30, 2024 
  
    Deferred
    Tax Assets: 

    Bad
    Debt 
    $-  
    $29,845 
  
    Net
    Operating Losses 
     1,472,279  
     1,494,451 
  
    Gross
    Deferred Tax Assets 
     1,472,279  
     1,524,296 
  
    Valuation
    Allowance 
     (1,472,279) 
     (1,451,822)
  
    Net
    Deferred Tax Assets 
    $-  
    $72,474 
  
    Deferred
    Tax Liabilities: 
     -  
     - 
  
    Partnership
    Income / (Loss) 
     -  
     (72,474)
  
    Gross
    deferred tax liabilities 
     -