Company: RIVF
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024216
Chunk: 60

Company: Rivulet Entertainment, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 60
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4 and 2023 totaled $2,251,199 and $8,392, respectively. General
and administrative costs for the three months ended December 31, 2024 of $2,251,199 consisted of participation costs of $1,995,058, professional
fees of $146,612, payroll costs of $97,382, external communication costs of $5,425, travel, meals and entertainment costs of $2,959 and
other expenses of $3,763.

General
and administrative costs for the three months ended December 31, 2023 of $8,392 consisted of pre-production costs of $7,500 and other
costs of $892.

 The increase in general and administrative for the three months ended December 31, 2024 as compared to the three months ended December
31, 2023 was primarily related to participation costs recognized in the amount of $1,995,058 in the current period, related to a film
sale. The remainder of the increases were primarily due to general organizational ramp-up to administratively support the Company’s
in-production and pre-production films.

Other
(expense) income

For the three months ended December 31, 2024, other
(expense) income totaled ($303,785) which consisted of interest expense of ($305,634) and other income of $1,849. For the three months
ended December 31, 2023, other (expense) income consisted of other income of $7,760. The increase in other (expense) income was primarily
related to the increase in notes payable during the three months ended December 31, 2024 as compared to the three months ended December
31, 2023.

For
the Six Months Ended December 31, 2024 compared to the Six Months Ended December 31, 2023

Revenues

The
Company recognized $10.0 million in revenues during the six months ended December 31, 2024. There were no recognized revenues during
the six months ended December 31, 2023. The increase in revenues recognized during the six months ended December 31, 2024 as compared to the six months ended
December 31, 2023 was due to the sale of a film during the current year period for $10.0 million.

18

Cost
of Service

Cost
of service was $10.5 million for the six months ended December 31,