ORGANIZATION AND BASIS OF PRESENTATION	12 Months Ended
Jul. 31, 2021
Accounting Policies [Abstract]
ORGANIZATION AND BASIS OF PRESENTATION	1. ORGANIZATION AND BASIS OF PRESENTATION Bio-Matrix Scientific Group, Inc. (“Bio-Matrix”) was organized on October 6, 1998, in the State of Delaware, originally under the name Tasco International, Inc, which was subsequently changed to Tasco Holdings International, Inc., and then to Bio-Matrix Scientific Group, Inc. in 2006. On May 26, 2020, Bio-Matrix’s name was further changed to Rivulet Media, Inc. 2019 Reverse Acquisition Transaction On July 31, 2019, Bio-Matrix acquired 100% of the share capital of Pine Hills, Inc., a Wyoming corporation, in exchange for the issuance of 4,080,000 common shares of Bio-Matrix, to Heather Cassady, the sole shareholder of Pine Hills, Inc. In conjunction with this transaction, all of the outstanding shares of Series AA and Series AAA Preferred Stock of Bio-Matrix were cancelled. Pine Hills was in the business of providing data storage and the archiving of corporate documents, and its operations subsequent to that date were nominal. Upon completion of the transaction, Heather Cassady owned approximately 54% of the voting capital stock of Bio-Matrix immediately after the transaction. For financial accounting purposes, this transaction was considered a reverse acquisition of Bio-Matrix by Pine Hills, Inc. and was treated as a recapitalization with Pine Hills, Inc. as the accounting acquirer. Pine Hills was liquidated on August 13, 2020. 2020 Change in Control Transaction On March 26, 2020, Debbie Rasmussen and Klusman Family Holdings (together, the “Buyers”) and David Koos and Heather Cassady (together, the “Sellers”) closed a Stock Purchase Agreement (the “SPA”) whereby Buyers purchased from Sellers 4,364,235 shares of the outstanding common stock of Bio-Matrix. This transaction resulted in a change in control of Bio-Matrix, based on the transfer of approximately 55.8% of the outstanding common shares of Bio-Matrix from Sellers to Buyers. The amount of consideration for the purchase of such common shares was $215,000, with the source of the consideration being a loan from an unaffiliated third party. As a condition of closing of the transaction, each director and officer of Bio-Matrix resigned from their position effective April 6, 2020, and Mike Witherill and Aaron Klusman were appointed as directors of Bio-Matrix to take office effective April 6, 2020. Additionally, effective April 6, 2020, Mr. Klusman was appointed Chairman and Chief Executive Officer of Bio-Matrix and Mr. Witherill was appointed Vice-Chairman and President of Bio-Matrix. At the closing of the transaction, Mike Witherill and Aaron Klusman, directly and indirectly, effectively owned the equivalent of 77,896,200 shares of common stock of Bio-Matrix, representing approximately 89.6% of the outstanding shares of common stock of Bio-Matrix. In conjunction with the change in control transaction, all current liabilities of Bio-Matrix, including accounts payable and notes payable to related and unrelated parties, plus accrued interest, aggregating $141,936, were paid by the Buyers through a contribution to capital to Bio-Matrix prior to the closing of the reverse acquisition transaction, which became effective on April 13, 2020. 2020 Reverse Acquisition Transaction On April 13, 2020, Bio-Matrix acquired 100% of the equity capital of Rivulet Films, Inc. (“Rivulet Films”), which was organized on February 11, 2020, in the State of Arizona, in exchange for the issuance of 79,155,765 shares of common stock of Bio-Matrix distributed on a pro rata basis to the shareholders of Rivulet Films. Rivulet Films is a development stage company involved in the arts, entertainment, and recreation business. The current control shareholders of Bio-Matrix (consisting of Mike Witherill, Debbie Rasmussen (the wife of Mike Witherill), and Klusman Family Holdings (controlled by Aaron Klusman), through a series of orchestrated and interdependent transactions over a period of approximately three months, obtained effective control of Bio-Matrix (both a majority of the equity and the board of directors) and caused Rivulet Films to become a wholly owned subsidiary of Bio-Matrix. Accordingly, for financial accounting purposes, this transaction was considered a reverse acquisition of Bio-Matrix by Rivulet Films and was treated as a recapitalization with Rivulet Films as the accounting acquirer and Bio-Matrix as the accounting acquire. The financial statements presented herein consist of those of Rivulet Films for the period commencing February 11, 2020 (date of inception), with the financial statements of Bio-Matrix included for the period commencing April 13, 2020. The stockholders’ equity section of Bio-Matrix has been retroactively restated to reflect the accounting effect of the reverse acquisition transaction. All share and per share amounts presented herein also reflect the retroactive restatement of the stockholders’ equity section of Bio-Matrix. All costs associated with the reverse acquisition transaction were charged to expense as incurred. Changes in Capital Structure of Company On February 18, 2020, the Company filed a Certificate of Amendment to its Certificate of Incorporation with the State of Delaware to (1) reduce the number of shares of common stock that the Company is authorized to issue from 16,000,000,000 shares to 100,000,000 shares, with no change in the $0.0001 per share par value; (2) effect a reverse stock split of the Company’s issued and outstanding shares of common stock and all classes of issued and outstanding preferred stock at an exchange ratio of one new share for every 2,000 old shares, with fractional shares of stock being rounded up to the nearest whole share. All share and per share amounts presented in these financial statements and footnotes for all periods presented have been retroactively restated to reflect the 1-for-2,000 reverse stock split. On May 26, 2020, the Company filed an Amended and Restated Certificate of Incorporation with the State of Delaware to (1) change the Company’s name to Rivulet Media, Inc.; (2) increase the number of shares of common stock that the Company is authorized to issue from 100,000,000 shares to 200,000,000 shares, par value $0.0001 per share, with the number of shares of preferred stock that the Company is authorized to issue remaining unchanged at 20,000,000 shares, par value $0.0001 per share; and (3) eliminate the class of Non-Voting Preferred Stock, of which 200,000 shares, par value $1.00 per share, had been authorized, of which none were outstanding. As of May 28, 2020, Rivulet, Maughan Music, Inc., a Delaware corporation and a wholly owned subsidiary of Rivulet (“Maughan Music”), and Maughan Music Group LLC, an Arizona limited liability company, entered into an Agreement and Plan of Merger pursuant to which Maughan Music Group LLC merged with and into Maughan Music and the separate existence of Maughan Music Group LLC ceased. This merger was consummated on June 12, 2020. Under the terms of the Agreement and Plan of Merger, all equitable interests of Maughan Music Group LLC converted into the right to receive 925,000 shares of common stock of Rivulet, distributed pro rata to the members of Maughan Music Group LLC. The Company forms special purpose subsidiaries to produce various programs and music projects. In June 2020, the Company formed Borderline Productions LLC, an Arizona limited liability company, as a wholly owned subsidiary of Rivulet Films, to produce a documentary film entitled “It’s Complicated” about the life of former Arizona Sheriff Joseph M. Arpaio. Production activities commenced as of July 31, 2020 and were completed as of July 31, 2021. As of the date of the filing of this Form 10-K, this film has not been sold or distributed. In June 2020, the Company formed PBP Productions LLC, an Arizona limited liability company, as a wholly owned subsidiary of Rivulet Films, to produce a feature film entitled “Please Baby Please”. Production activities commenced during September 2020 and were completed as of July 31, 2021. Current discussions are underway to distribute and sell this film after it was featured at the Amsterdam Film Festival. In August 2020, the Company formed Mistress Movie, LLC, an Arizona limited liability company, as a wholly owned subsidiary of Rivulet Films, to produce a feature film entitled “Mistress”. Production activities commenced during December 2020 and were completed as of July 31, 2021. The Company had a screening on April 12, 2022, with forty-six (46) potential buyers invited for distribution of the film. Discussions are currently underway for the distribution and sale of the movie. In October 2020, the Company formed Into the Black Productions LLC, an Arizona limited liability company, as a wholly owned subsidiary of Rivulet Films, to produce a documentary film entitled “Into the Black”. The Company has determined not to proceed with the production of this documentary film. In February 2021, the Company formed Storyland Animation Studios, LLC, an Arizona limited liability company, as a wholly owned subsidiary of the Company, to produce a children’s television series entitled “Storyland”. Production activities commenced during February 2021; however, the production is currently on hold. In February 2021, the Company formed Storyland Productions, LLC, an Arizona limited liability company, as a wholly owned subsidiary of Storyland Animation Studios, LLC, to distribute a children’s television series entitled “Storyland”. Production activities commenced during February 2021; however, the production is currently on hold. In February 2021, the Company formed Origin Story Productions, LLC, an Arizona limited liability company, as a wholly owned subsidiary of Rivulet Films, to be a union signatory entity. This subsidiary permits the Company to pay its writers as a union for work done on behalf of the Company. In March 2021, the Company formed Eventide Media, LLC, an Arizona limited liability company, as a wholly owned subsidiary of the Company, to provide event-based audio and video design, production, and installation services. Business activities commenced during April 2021 and generated revenues of $64,074 through July 31, 2021. In May 2021, the Company formed Good News Productions, LLC, an Arizona limited liability company, as a wholly owned subsidiary of Rivulet Films, to produce a feature film entitled “Taurus.” Taurus explores the darkness of fame, addiction, the artistic process, and the music industry as it tells the story of a troubled musician on the rise in the industry, played by Colson Baker (Aka. Machine Gun Kelly). Production was completed in December 2021. Although the agreement has not been executed, the Company has reached an agreement in principal with AMC Plus to distribute this film in North America for a minimum guarantee of $1.6 million plus royalties and is in discussions to distribute the film to foreign markets through Island Film Group. There is no assurance this agreement will be executed, but management is optimistic. The Company has and will continue to form special purpose subsidiaries to produce various films and music. Business The Company is engaged in the production, distribution and marketing of feature-length films, television series and mini-series, and television movies, from initial creative development through principal photography, postproduction, distribution, and ancillary sales. The Company also provides event-based audio and video design, production, and installation services. Upon completion of a production, the Company expects to receive initial revenues from domestic and foreign distribution contracts. The Company’s business activities are subject to significant risks and uncertainties, including the need for additional capital, as described below at “Going Concern.” The Company does not currently have positive cash flows from operations and is dependent on periodic infusions of capital to fund its operating requirements. Going Concern The Company’s consolidated financial statements have been presented on the basis that the Company is a going concern, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. As reflected in the accompanying consolidated financial statements, the Company has suffered losses from operations and negative operating cash flows since inception. During the year ended July 31, 2021, the Company incurred a net loss of $1,851,108. The Company financed its working capital requirements during this period primarily through the sale of its equity securities and the issuance of short term notes. Accordingly, management has concluded that these matters raise substantial doubt about the Company’s ability to continue as a going concern. At July 31, 2021, the Company had limited cash resources available to fund its operations and will therefore need to raise additional funds in the short-term. The Company estimates that a significant amount of capital will be necessary over a sustained period of time to advance the development of the Company’s business activities to the point at which it can become commercially viable and self-sustaining. However, there can be no assurance that the Company will be successful in this regard. As a result, management has concluded that there is substantial doubt about the Company’s ability to continue as a going concern. In addition, the Company’s independent registered public accounting firm, in their report on the Company’s consolidated financial statements for the year ended July 31, 2021, also expressed substantial doubt about the Company’s ability to continue as a going concern. The ability of the Company to continue as a going concern is dependent upon the Company’s ability to raise additional funds and successfully implement its business plan, and to ultimately achieve sustainable operating revenues and profitability. The accompanying consolidated financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern. The development and expansion of the Company’s business is dependent on many factors, including the capital resources available to the Company. No assurances can be given that any future financing will be available or, if available, that they will be on terms that are satisfactory to the Company or adequate to fund the development and expansion of the Company’s business operations to a level that is commercially viable and self-sustaining. There is also significant uncertainty as to the affect that the coronavirus pandemic may have on the availability, amount, and type of financing in the future. If cash resources are insufficient to satisfy the Company’s ongoing cash requirements, the Company may be required to scale back its operations, liquidate its media assets to obtain funds, enter into strategic alliances that may require the Company to relinquish rights to any assets, or discontinue its operations entirely.

ORGANIZATION AND BASIS OF PRESENTATION

12 Months Ended

Jul. 31, 2021

1. ORGANIZATION AND BASIS OF PRESENTATION

Bio-Matrix Scientific Group, Inc. (“Bio-Matrix”) was organized on October 6, 1998, in the State of Delaware, originally under the name Tasco International, Inc, which was subsequently changed to Tasco Holdings International, Inc., and then to Bio-Matrix Scientific Group, Inc. in 2006. On May 26, 2020, Bio-Matrix’s name was further changed to Rivulet Media, Inc.

2019 Reverse Acquisition Transaction

On July 31, 2019, Bio-Matrix acquired 100% of the share capital of Pine Hills, Inc., a Wyoming corporation, in exchange for the issuance of 4,080,000 common shares of Bio-Matrix, to Heather Cassady, the sole shareholder of Pine Hills, Inc. In conjunction with this transaction, all of the outstanding shares of Series AA and Series AAA Preferred Stock of Bio-Matrix were cancelled. Pine Hills was in the business of providing data storage and the archiving of corporate documents, and its operations subsequent to that date were nominal.

Upon completion of the transaction, Heather Cassady owned approximately 54% of the voting capital stock of Bio-Matrix immediately after the transaction. For financial accounting purposes, this transaction was considered a reverse acquisition of Bio-Matrix by Pine Hills, Inc. and was treated as a recapitalization with Pine Hills, Inc. as the accounting acquirer. Pine Hills was liquidated on August 13, 2020.

2020 Change in Control Transaction

On March 26, 2020, Debbie Rasmussen and Klusman Family Holdings (together, the “Buyers”) and David Koos and Heather Cassady (together, the “Sellers”) closed a Stock Purchase Agreement (the “SPA”) whereby Buyers purchased from Sellers 4,364,235 shares of the outstanding common stock of Bio-Matrix. This transaction resulted in a change in control of Bio-Matrix, based on the transfer of approximately 55.8% of the outstanding common shares of Bio-Matrix from Sellers to Buyers. The amount of consideration for the purchase of such common shares was $215,000, with the source of the consideration being a loan from an unaffiliated third party.

As a condition of closing of the transaction, each director and officer of Bio-Matrix resigned from their position effective April 6, 2020, and Mike Witherill and Aaron Klusman were appointed as directors of Bio-Matrix to take office effective April 6, 2020. Additionally, effective April 6, 2020, Mr. Klusman was appointed Chairman and Chief Executive Officer of Bio-Matrix and Mr. Witherill was appointed Vice-Chairman and President of Bio-Matrix. At the closing of the transaction, Mike Witherill and Aaron Klusman, directly and indirectly, effectively owned the equivalent of 77,896,200 shares of common stock of Bio-Matrix, representing approximately 89.6% of the outstanding shares of common stock of Bio-Matrix.

In conjunction with the change in control transaction, all current liabilities of Bio-Matrix, including accounts payable and notes payable to related and unrelated parties, plus accrued interest, aggregating $141,936, were paid by the Buyers through a contribution to capital to Bio-Matrix prior to the closing of the reverse acquisition transaction, which became effective on April 13, 2020.

2020 Reverse Acquisition Transaction

On April 13, 2020, Bio-Matrix acquired 100% of the equity capital of Rivulet Films, Inc. (“Rivulet Films”), which was organized on February 11, 2020, in the State of Arizona, in exchange for the issuance of 79,155,765 shares of common stock of Bio-Matrix distributed on a pro rata basis to the shareholders of Rivulet Films. Rivulet Films is a development stage company involved in the arts, entertainment, and recreation business.

The current control shareholders of Bio-Matrix (consisting of Mike Witherill, Debbie Rasmussen (the wife of Mike Witherill), and Klusman Family Holdings (controlled by Aaron Klusman), through a series of orchestrated and interdependent transactions over a period of approximately three months, obtained effective control of Bio-Matrix (both a majority of the equity and the board of directors) and caused Rivulet Films to become a wholly owned subsidiary of Bio-Matrix. Accordingly, for financial accounting purposes, this transaction was considered a reverse acquisition of Bio-Matrix by Rivulet Films and was treated as a recapitalization with Rivulet Films as the accounting acquirer and Bio-Matrix as the accounting acquire. The financial statements presented herein consist of those of Rivulet Films for the period commencing February 11, 2020 (date of inception), with the financial statements of Bio-Matrix included for the period commencing April 13, 2020.

The stockholders’ equity section of Bio-Matrix has been retroactively restated to reflect the accounting effect of the reverse acquisition transaction. All share and per share amounts presented herein also reflect the retroactive restatement of the stockholders’ equity section of Bio-Matrix. All costs associated with the reverse acquisition transaction were charged to expense as incurred.

Changes in Capital Structure of Company

On February 18, 2020, the Company filed a Certificate of Amendment to its Certificate of Incorporation with the State of Delaware to (1) reduce the number of shares of common stock that the Company is authorized to issue from 16,000,000,000 shares to 100,000,000 shares, with no change in the $0.0001 per share par value; (2) effect a reverse stock split of the Company’s issued and outstanding shares of common stock and all classes of issued and outstanding preferred stock at an exchange ratio of one new share for every 2,000 old shares, with fractional shares of stock being rounded up to the nearest whole share. All share and per share amounts presented in these financial statements and footnotes for all periods presented have been retroactively restated to reflect the 1-for-2,000 reverse stock split.

On May 26, 2020, the Company filed an Amended and Restated Certificate of Incorporation with the State of Delaware to (1) change the Company’s name to Rivulet Media, Inc.; (2) increase the number of shares of common stock that the Company is authorized to issue from 100,000,000 shares to 200,000,000 shares, par value $0.0001 per share, with the number of shares of preferred stock that the Company is authorized to issue remaining unchanged at 20,000,000 shares, par value $0.0001 per share; and (3) eliminate the class of Non-Voting Preferred Stock, of which 200,000 shares, par value $1.00 per share, had been authorized, of which none were outstanding.

As of May 28, 2020, Rivulet, Maughan Music, Inc., a Delaware corporation and a wholly owned subsidiary of Rivulet (“Maughan Music”), and Maughan Music Group LLC, an Arizona limited liability company, entered into an Agreement and Plan of Merger pursuant to which Maughan Music Group LLC merged with and into Maughan Music and the separate existence of Maughan Music Group LLC ceased. This merger was consummated on June 12, 2020. Under the terms of the Agreement and Plan of Merger, all equitable interests of Maughan Music Group LLC converted into the right to receive 925,000 shares of common stock of Rivulet, distributed pro rata to the members of Maughan Music Group LLC.

The Company forms special purpose subsidiaries to produce various programs and music projects.

In June 2020, the Company formed Borderline Productions LLC, an Arizona limited liability company, as a wholly owned subsidiary of Rivulet Films, to produce a documentary film entitled “It’s Complicated” about the life of former Arizona Sheriff Joseph M. Arpaio. Production activities commenced as of July 31, 2020 and were completed as of July 31, 2021. As of the date of the filing of this Form 10-K, this film has not been sold or distributed.

In June 2020, the Company formed PBP Productions LLC, an Arizona limited liability company, as a wholly owned subsidiary of Rivulet Films, to produce a feature film entitled “Please Baby Please”. Production activities commenced during September 2020 and were completed as of July 31, 2021. Current discussions are underway to distribute and sell this film after it was featured at the Amsterdam Film Festival.

In August 2020, the Company formed Mistress Movie, LLC, an Arizona limited liability company, as a wholly owned subsidiary of Rivulet Films, to produce a feature film entitled “Mistress”. Production activities commenced during December 2020 and were completed as of July 31, 2021. The Company had a screening on April 12, 2022, with forty-six (46) potential buyers invited for distribution of the film. Discussions are currently underway for the distribution and sale of the movie.

In October 2020, the Company formed Into the Black Productions LLC, an Arizona limited liability company, as a wholly owned subsidiary of Rivulet Films, to produce a documentary film entitled “Into the Black”. The Company has determined not to proceed with the production of this documentary film.

In February 2021, the Company formed Storyland Animation Studios, LLC, an Arizona limited liability company, as a wholly owned subsidiary of the Company, to produce a children’s television series entitled “Storyland”. Production activities commenced during February 2021; however, the production is currently on hold.

In February 2021, the Company formed Storyland Productions, LLC, an Arizona limited liability company, as a wholly owned subsidiary of Storyland Animation Studios, LLC, to distribute a children’s television series entitled “Storyland”. Production activities commenced during February 2021; however, the production is currently on hold.

In February 2021, the Company formed Origin Story Productions, LLC, an Arizona limited liability company, as a wholly owned subsidiary of Rivulet Films, to be a union signatory entity. This subsidiary permits the Company to pay its writers as a union for work done on behalf of the Company.

In March 2021, the Company formed Eventide Media, LLC, an Arizona limited liability company, as a wholly owned subsidiary of the Company, to provide event-based audio and video design, production, and installation services. Business activities commenced during April 2021 and generated revenues of $64,074 through July 31, 2021.

In May 2021, the Company formed Good News Productions, LLC, an Arizona limited liability company, as a wholly owned subsidiary of Rivulet Films, to produce a feature film entitled “Taurus.” Taurus explores the darkness of fame, addiction, the artistic process, and the music industry as it tells the story of a troubled musician on the rise in the industry, played by Colson Baker (Aka. Machine Gun Kelly). Production was completed in December 2021. Although the agreement has not been executed, the Company has reached an agreement in principal with AMC Plus to distribute this film in North America for a minimum guarantee of $1.6 million plus royalties and is in discussions to distribute the film to foreign markets through Island Film Group. There is no assurance this agreement will be executed, but management is optimistic.

The Company has and will continue to form special purpose subsidiaries to produce various films and music.

Business

The Company is engaged in the production, distribution and marketing of feature-length films, television series and mini-series, and television movies, from initial creative development through principal photography, postproduction, distribution, and ancillary sales. The Company also provides event-based audio and video design, production, and installation services. Upon completion of a production, the Company expects to receive initial revenues from domestic and foreign distribution contracts.

The Company’s business activities are subject to significant risks and uncertainties, including the need for additional capital, as described below at “Going Concern.” The Company does not currently have positive cash flows from operations and is dependent on periodic infusions of capital to fund its operating requirements.

Going Concern

The Company’s consolidated financial statements have been presented on the basis that the Company is a going concern, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. As reflected in the accompanying consolidated financial statements, the Company has suffered losses from operations and negative operating cash flows since inception. During the year ended July 31, 2021, the Company incurred a net loss of $1,851,108. The Company financed its working capital requirements during this period primarily through the sale of its equity securities and the issuance of short term notes. Accordingly, management has concluded that these matters raise substantial doubt about the Company’s ability to continue as a going concern.

At July 31, 2021, the Company had limited cash resources available to fund its operations and will therefore need to raise additional funds in the short-term. The Company estimates that a significant amount of capital will be necessary over a sustained period of time to advance the development of the Company’s business activities to the point at which it can become commercially viable and self-sustaining. However, there can be no assurance that the Company will be successful in this regard.

As a result, management has concluded that there is substantial doubt about the Company’s ability to continue as a going concern. In addition, the Company’s independent registered public accounting firm, in their report on the Company’s consolidated financial statements for the year ended July 31, 2021, also expressed substantial doubt about the Company’s ability to continue as a going concern. The ability of the Company to continue as a going concern is dependent upon the Company’s ability to raise additional funds and successfully implement its business plan, and to ultimately achieve sustainable operating revenues and profitability. The accompanying consolidated financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

The development and expansion of the Company’s business is dependent on many factors, including the capital resources available to the Company. No assurances can be given that any future financing will be available or, if available, that they will be on terms that are satisfactory to the Company or adequate to fund the development and expansion of the Company’s business operations to a level that is commercially viable and self-sustaining. There is also significant uncertainty as to the affect that the coronavirus pandemic may have on the availability, amount, and type of financing in the future.

If cash resources are insufficient to satisfy the Company’s ongoing cash requirements, the Company may be required to scale back its operations, liquidate its media assets to obtain funds, enter into strategic alliances that may require the Company to relinquish rights to any assets, or discontinue its operations entirely.