Company: RIVF
Filing Date: 2025-06-09
Form Type: 10-KT/A
Source: 0001376474-25-000520
Chunk: 16

Company: Rivulet Entertainment, Inc.
Filing Date: 2025-06-09
Form: 10-KT/A
Chunk 16
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 a promissory note to a related partyfor $ 15,000with interest of 10% per annum with a scheduled maturity of March 30, 2024. On May 12, 2023, the Company issued a promissory note to a related partyfor $ 12,000with interest of 10% per annum with a scheduled maturity of May 11, 2024. On June 1, 2023, the Company issued a promissory note to a related partyfor $ 50,000with interest of 10% per annum with a scheduled maturity of May 31, 2024. On November 28, 2023, the Company issued a promissory note to a related partyfor $ 9,000with interest of 10% per annum with a scheduled maturity of May 31, 2024. On February 9, 2024, a related party advanced the Company$ 5,000. On March 4, 2024, the advances and notes issued by related parties during the year ended December 31, 2023 were paid in full. The payments consisted of payment to our CEO for advances in the amount $14,500 and payment to a related party in the amount of $124,896. On March 11, 2024, Chung Cam, our CFO, waived his accrued salary. The amount of forgiveness and related payroll taxes of $ 123,827was recognized as a gain during the six months ending June 30, 2024. Properties Rivulet’s principal executive office is provided free of charge by Diana Jakowchuk, the Company’s secretary and treasurer. The above transactions, including the related party loans and property agreement, are not necessarily what unrelated third parties would have agreed to in the normal course of business.

Income Taxes

A reconciliation of the U.S. statutory federal income tax rate to the effective rate is as follows:

| INCOME TAXES                                  | December 31, 2023 |     | December 31, 2022 |
|:----------------------------------------------|:------------------|:----|:------------------|
| U.S. federal statutory graduated rate         | 21.00%            |     | 21.00%            |
| State income tax rate, net of federal benefit | 0.00%             |     | 0.00%             |
| Contributed services                          | 0.00%             |     | 0.00%