v3.25.2
Condensed Consolidated Balance Sheets - USD ($)
Dec. 31, 2024
Jun. 30, 2024
 [1]
CURRENT ASSETS    
Cash $ 482,460 $ 101,721
Accounts receivable 6,572,000
Prepaid expenses 341,641 47,044
Other current assets 553,585
Total current assets 7,949,686 148,765
NONCURRENT ASSETS    
Film costs 13,381,616 10,024,760
Deposits 1,708,232 854,390
Equity investment 2,000,000 2,000,000
Total noncurrent assets 17,089,848 12,879,150
Total assets 25,039,534 13,027,915
CURRENT LIABILITIES    
Accounts payable 274,416 205,249
Accrued expenses 4,142,648 712,229
Notes payable, current 5,332,510 4,890,000
Other current liabilities 3,500,000 154,689
Total current liabilities 13,249,574 5,962,167
NONCURRENT LIABILITIES    
Related party loans, non-current 2,880,000 10,768,316
Notes payable, non-current 13,117,928 1,330,000
Total noncurrent liabilities 15,997,928 12,098,316
Total liabilities 29,247,502 18,060,483
Commitments and contingencies (Note 2)
SHAREHOLDERS’ DEFICIT    
Common stock, par value of $0.001; 547,500,000 shares authorized; 109,695,876 and 96,722,950 issued and outstanding as of December 31, 2024 and June 30, 2024, respectively [2] 109,696 96,723
Additional paid-in capital 4,341,499 (96,723)
Accumulated deficit (8,659,163) (5,032,568)
Total shareholders’ deficit [3] (4,207,968) (5,032,568)
Total liabilities & shareholders’ deficit $ 25,039,534 $ 13,027,915
[1] Financial information for the comparative period reflects the combination of certain former Rivulet Media, Inc. entities under common control that were transferred as part of the reverse merger transaction
[2] Common stock outstanding has been determined in accordance with the exchange ratio established as part of the reverse merger that was completed during July of 2024 (refer to Note 8)
[3] Financial information for the comparative period reflects the combination of certain former Rivulet Media, inc. entities under common control that were transferred as part of the reverse merger transaction