5/5Rivulet Entertainment, Inc. (RIVF): Non-reliance / restatement

Market data

n/a: no price data available for RIVF.

Insider trading around this filing

90 days before the flag: no open-market insider sales or purchases reported.
30 days after: none reported.

Open-market purchases and sales (Form 4 codes P and S) by officers, directors and 10% owners, by transaction date, from 2025-03-05 to 2025-07-03. Excludes option exercises, grants, gifts and tax withholding. Amended filings replace the originals; joint filings count once. Foreign private issuers do not file Form 4. Many insider sales are pre-scheduled (10b5-1 plans) and are not by themselves a sign of wrongdoing.

Verified excerpt

"(the "Company"), following consultation with the Company's management and independent registered public accounting firm, Astra Audit & Advisory, LLC, concluded that certain of the Company's previously issued financial statements should no longer be relied upon due to a non-cash error identified in the accounting for the merger equity pre-payment."

Quoted from the filing. Source

What this means

The company says previously issued financial statements should no longer be relied upon (8-K Item 4.02). This is one of the most serious accounting red flags: past reported numbers were wrong and will be restated.

Why this score: also within 90 days: Going-concern doubt