Company: RIVF
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024216
Chunk: 16

Company: Rivulet Entertainment, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 16
---
 an amount
for other segment items (which is the difference between segment revenue less segment expenses and less segment profit or loss) and a
description of its composition, the title and position of the CODM, and an explanation of how the CODM uses the reported measure(s) of
segment profit or loss in assessing segment performance and deciding how to allocate resources. The standard also permits disclosure
of more than one measure of segment profit. ASU 2023-07 is effective for fiscal years 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 the Company’s
condensed consolidated 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 condensed consolidated financial statements.

    10

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.

NOTE
3 – FILM COSTS COMPONENTS

Components
of production costs for films predominantly monetized on their own were as follows:

 SCHEDULE OF COMPONENTS OF PRODUCTION COSTS FOR FILMS 

    December
    31, 2024  
    June
    30, 2024 

    As
    of 

    December
    31, 2024  
    June
    30, 2024 
  
    Released 
    $-  
    $- 
  
    Completed and not released 
     -