Company: RIVF
Filing Date: 2025-06-26
Form Type: 8-K/A
Source: 0001376474-25-000553
Chunk: 13

Company: Rivulet Entertainment, Inc.
Filing Date: 2025-06-26
Form: 8-K/A
Chunk 13
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 negatively affect our business. Employees As of June 30, 2024, the Company had seven employees, all of whom are full-time. We hire additional employees on a picture-by-picture basis in connection with the production of our motion pictures and television programming. We believe that our employee and labor relations are good. None of our full-time employees are members of unions. Risk Factors As Rivulet Media, Inc. would be considered a smaller reporting company based on the “revenue” test, it has not provided risk factor information. Financial Information Management’s Discussion and Analysis of Financial Condition and Results of Operation. The following discussion and analysis should be read in conjunction with the financial statements and related notes included elsewhere in this Form 8-K/A. To that extent, the information discussed below solely reflects the results of the combined entities that were transferred as part of the agreement with Rivulet Entertainment, Inc. This document contains certain forward-looking statements that involve risks and uncertainties, such as statements of the Company's plans, objectives, expectations and intentions. When used in this document, the words "expects", "anticipates", "intends" and "plans" and similar expressions are intended to identify certain of these forward-looking statements. The cautionary statements made in this document should be read as being applicable to all related forward-looking statements wherever they appear in this document. Our actual results could differ materially from those discussed in this document. Liquidity and Capital Resources At June 30, 2024, the Company had current assets of $148,765 and current liabilities of $5,962,167 as compared to current assets of $154,347 and current liabilities of $99,151 as of June 30, 2023. Because of our history of losses, net capital deficit and lack of assurance of additional financing, the audit report on our financial statements contains a "going concern" opinion regarding doubt about our ability to continue as a going concern. We have notes payable outstanding, which were used to fund our film production, totaling $16,988,316 as of June 30, 2024 which mature at various dates through fiscal year 2026. However, pursuant to the merger agreement, related party debt of $7,888,316 was forgiven (by the former parent Company) as of the closing date of the merger agreement. We will require additional financing in order to carry out our business plan. We plan to raise funds through additional borrowings, until such time as our revenues are sufficient to meet our cost structure, and ultimately