Company: RIVF
Filing Date: 2025-07-24
Form Type: 10-Q
Source: 0001376474-25-000660
Chunk: 32

Company: Rivulet Entertainment, Inc.
Filing Date: 2025-07-24
Form: 10-Q
Item: Part I, Item 1
Chunk 32
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 results for the three months ended September 30, 2024 and 2023 are summarized as follows:

For the Three Months Ended September 30,

2024
 
2023

Revenues
 
$ -   
 
$ -   

Production cost amortization
 
-   
 
-   

Gross margin
 
$ -   
 
$ -   

Operating Expense

General and administrative
 
$ 496,578   
 
$ 102,764   

Total operating expenses
 
$ 496,578   
 
$ 102,764   

Net loss before other income (expense)
 
496,578   
 
102,764   

Other income (expense)
 
$ (106,786)  
 
$ 7,760   

Net loss before income taxes
 
(603,364)  
 
(95,004)  

Income tax expense
 
-   
 
-   

Net loss before income taxes
 
$ (603,364)  
 
$ (95,004)  

Revenues

17

There were no recognized revenues during the three months ended September 30, 2024 and 2023.

General and Administrative

General and administrative expense for the three months ended September 30, 2024 and 2023 totaled $496,578 and $102,764, respectively.  General and administrative costs for the three months ended September 30, 2024 of $496,578 consisted of professional fees of $187,972, music and musician expenses $87,275, travel & meals and entertainment of $91,598, payroll costs of $53,106, external communication of $34,346 and other expenses of $42,281. General and administrative costs for the three months ended September 30, 2023 of $102,764 consisted of participation costs of $100,000 and other expense of $2,764.

Other (expense) income 

For the three months ended September 30, 2024, other income (expense) totaled ($106,786) which consisted of interest expense of ($106,913) and other income of $127.

For the three months ended September 30, 2023, other income (expense) consisted of other income of $7,760.

Critical Accounting Policies

Impairment of Capitalized Production Costs

The Company will test its unamortized production costs whenever events or changes