Rivulet Media (RIVU) 10-Q 1 Jul 20 2021 Q1 Quarterly report Financial data

Cover

Cover	3 Months Ended
	Apr. 30, 2020shares
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Apr. 30, 2020
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2021
Current Fiscal Year End Date	--07-31
Entity File Number	000-32201
Entity Registrant Name	Rivulet Media, Inc.
Entity Central Index Key	0001079282
Entity Tax Identification Number	33-0824714
Entity Incorporation, State or Country Code	DE
Entity Current Reporting Status	No
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Elected Not To Use the Extended Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	86,964,632

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)	Apr. 30, 2020	Mar. 31, 2020
Current assets
Cash
Investment securities	$ 3,696
Subscriptions receivable		150,000
Prepaid expenses and other current assets	8,968
Total current assets	12,664	150,000
Intellectual property	300	300
Total assets	12,964	150,300
Current liabilities
Bank overdraft	12,766
Accounts payable	83,709	1,850
Accrued expenses	3,288	52,807
Compensation payable		50,000
Payroll taxes payable	28,372
Due to related parties	341	341
Total current liabilities	128,476	104,998
Members' equity
Preferred stock, $0.0001 par value; 20,000,000 shares authorized; 1,435 issued and outstanding as of April 30, 2020; Series B Preferred, $0.0001 par value, 20,000,000 shares authorized; 1,362 issued and outstanding as of April 30, 2020	202
Common stock, $0.0001 par value; 200,000,000 shares authorized; 86,964,632 and 79,155,765 issued and outstanding as of April 30, 2020 and March 31, 2020 respectively	8,697	7,916
Additional paid-in capital	713,640	710,298
Common stock subscription receivable, related party	(550,000)	(550,000)
Accumulated deficit	(288,123)	(122,912)
Total members' equity	(115,512)	45,302
Total liabilities and members' equity	12,964	$ 150,300
Series B Preferred Stock [Member]
Members' equity
Preferred stock, $0.0001 par value; 20,000,000 shares authorized; 1,435 issued and outstanding as of April 30, 2020; Series B Preferred, $0.0001 par value, 20,000,000 shares authorized; 1,362 issued and outstanding as of April 30, 2020	$ 72

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares	Apr. 30, 2020	Mar. 31, 2020
Preferred stock, par value	$ 0.0001
Preferred stock, shares authorized	20,000,000
Preferred stock, issued	1,435
Preferred stock, outstanding	1,435
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	200,000,000	200,000,000
Common stock, issued	86,964,632	79,155,765
Common stock, outstanding	86,964,632	79,155,765
Series B Preferred Stock [Member]
Preferred stock, par value	$ 0.0001
Preferred stock, shares authorized	20,000,000
Preferred stock, issued	1,362
Preferred stock, outstanding	1,362

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIENCY) (Unaudited) - USD ($)	Preferred StockSeries B Preferred Stock [Member]	Preferred Stock	Common Stock	Additional Paid-In Capital	Common Stock Subscription Receivable	Accumulated Deficit	Total
Beginning Balance at Feb. 10, 2020
Beginning Balance (in shares) at Feb. 10, 2020
Common stock exchanged for intellectual property			$ 6,254	(5,954)			300
Common stock exchanged for intellectual property (in shares)			62,531,965
Common stock subscription, related party			$ 1,100	548,900	(550,000)
Common stock subscription, related party (in shares)			11,000,000
Common stock subscriptions			$ 502	149,498	(150,000)
Common stock subscriptions (in shares)			5,023,800
Common stock subscriptions receivable, received April Two, reclassified to current assets					150,000		150,000
Common stock exchanged for services			$ 60	17,854			17,914
Common stock exchanged for services (in shares)			600,000
Net loss						(122,912)	(122,912)
Ending Balance at Mar. 31, 2020			$ 7,916	710,298	(550,000)	(122,912)	45,302
Ending Balance (in shares) at Mar. 31, 2020			79,155,765
Beginning Balance at Feb. 10, 2020
Beginning Balance (in shares) at Feb. 10, 2020
Common stock exchanged for services							17,914
Net loss							(288,123)
Ending Balance at Apr. 30, 2020		$ 72	$ 8,697	713,640	(550,000)	(288,123)	(115,512)
Ending Balance (in shares) at Apr. 30, 2020		1,362	86,964,632
Beginning Balance at Mar. 31, 2020			$ 7,916	710,298	(550,000)	(122,912)	45,302
Beginning Balance (in shares) at Mar. 31, 2020			79,155,765
Stock associated with reverse merger		$ 72	$ 781	3,342			4,397
Stock associated with reverse merger (in shares)		1,362	7,808,867
Net loss						(165,211)	(165,211)
Ending Balance at Apr. 30, 2020		$ 72	$ 8,697	$ 713,640	$ (550,000)	$ (288,123)	$ (115,512)
Ending Balance (in shares) at Apr. 30, 2020		1,362	86,964,632

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS (Unaudited)	3 Months Ended
	Apr. 30, 2020USD ($)$ / sharesshares
Income Statement [Abstract]
Revenues
Operating expenses
General and administrative	150,405
Consulting and professional fees	137,589
Total operating expenses	287,994
Loss from operations	(287,994)
Other income (expense)
Change in fair value of investment securities	(129)
Net loss	$ (288,123)
Loss per common share - basic and diluted | $ / shares	$ .00
Weighted average number of common shares outstanding - basic and diluted | shares	75,964,632

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited)	3 Months Ended
	Apr. 30, 2020USD ($)
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (288,123)
Adjustments to reconcile net loss to net cash used in operating activities
Change in fair value of investment securities	129
Common stock issued for services	17,914
Change in operating assets and liabilities:
Prepaid expenses and other current assets	(8,968)
Bank overdraft	12,766
Accounts payable	83,709
Accrued expenses	3,288
Payroll taxes payable	28,372
Due to related parties	341
Net cash used in operating activities	150,572
CASH FLOWS FROM FINANCING ACTIVITIES
Cash acquired in reverse merger	572
Proceeds from common stock subscriptions receivable	150,000
Net cash provided by financing activities	150,572
Net increase (decrease) in cash and cash equivalents
Cash - beginning of period
Supplemental disclosure of cash flow information
Interest paid
Taxes paid
NONCASH INVESTING AND FINANCING ACTIVITIES
Investment securities	(3,825)
Preferred stock	202
Series B Preferred stock	72
Common stock	781
Additional paid in capital	$ 3,342

ORGANIZATION AND BUSINESS

ORGANIZATION AND BUSINESS	3 Months Ended
	Apr. 30, 2020
Accounting Policies [Abstract]
ORGANIZATION AND BUSINESS	1. ORGANIZATION AND BASIS OF PRESENTATION Organization 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 Merger 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. 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”) completed 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 recapitalization transaction, which became effective on April 13, 2020. 2020 Reverse Merger 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 acquiror. The financial statements presented herein consist of those of Rivulet Films for the period February 11, 2020 (Date of Inception) through April 30, 2020, with the financial statements of Bio-Matrix included for the period April 13, 2020 through April 30, 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 also reflect the retroactive restatement of the stockholders’ equity section of Bio-Matrix. All costs associated with the reverse recapitalization transaction were expensed as incurred. On May 26, 2020, Bio-Matrix’s name was changed to Rivulet Media, Inc. (“Rivulet Media”). Unless the context indicates otherwise, Rivulet Media, including its subsidiaries, is hereinafter referred to as the “Company”. 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, and none were outstanding. B usiness The business of the Company is to produce, distribute and market 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’s activities are subject to significant risks and uncertainties, including the need for additional capital, as described below. The Company has not yet commenced any revenue-generating operations, does not have positive cash flows from operations, and will be dependent on periodic infusions of capital to fund its operating requirements. Going Concern The Company’s 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 financial statements, the Company has had no operating revenues to date, and has experienced net losses from operations and negative operating cash flows. During the period February 11, 2020 (Date of Inception) through April 30, 2020, the Company incurred a net loss of $283,123. The Company intends to finance its future working capital requirements since inception through the sale of its equity securities and from borrowings. At April 30, 2020, the Company has 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 to the point at which it can become commercially viable and self-sustaining. However, there can be no assurances 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 within one year of the date that the accompanying financial statements are issued. In addition, the Company’s independent registered public accounting firm, in their report on the financial statements of Rivulet Films for the period February 11, 2020 (Date of Inception) through March 31, 2020, has also expressed substantial doubt about the its 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 implement its business plan, and to ultimately achieve sustainable operating revenues and profitability. The accompanying 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 in 2020 and thereafter will be 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 it will be on terms that are satisfactory to the Company or adequate to fund the development and expansion of the Company’s business 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 would be required to scale back or discontinue its operations, obtain funds, if available, although there can be no certainty, through strategic alliances that may require the Company to relinquish rights to any assets, or to discontinue its operations entirely.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Apr. 30, 2020
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Preparation The accompanying condensed consolidated financial statements have been prepared in accordance with United States generally accepted accounting principles (“GAAP”). The condensed consolidated financial statements of the Company, including its wholly-owned subsidiaries, at April 30, 2020, and for the period February 11, 2020 (Date of Inception) through April 30, 2020, are unaudited. In the opinion of management of the Company, all adjustments, including normal recurring accruals, have been made that are necessary to present fairly the financial position of the Company as of April 30, 2020, and the results of its operations for the period February 11, 2020 (Date of Inception) through April 30, 2020, and its cash flows for the period February 11, 2020 (Date of Inception) through April 30, 2020. Operating results for the interim period presented are not necessarily indicative of the results to be expected for a full fiscal year. The condensed consolidated balance sheet at March 31, 2020 has been derived from the audited consolidated financial statements of Rivulet Films at such date. The condensed consolidated financial statements and related notes have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been omitted pursuant to such rules and regulations. These condensed consolidated financial statements should be read in conjunction with the Company’s recent filings with the SEC. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of expenses during the reporting period. Management bases its estimates on historical experience and on various assumptions that are believed to be reasonable in relation to the financial statements taken as a whole under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Management regularly evaluates the key factors and assumptions used to develop the estimates utilizing currently available information, changes in facts and circumstances, historical experience and reasonable assumptions. After such evaluations, if deemed appropriate, those estimates are adjusted accordingly. Actual results could differ from those estimates. The most significant estimates to be made by management in the preparation of the financial statements are expected to relate to the ultimate revenues realized and costs incurred for films and television programs; valuing equity instruments issued; estimates of sales returns and other allowances and provisions for doubtful accounts; the realization of deferred tax assets; accruals for contingent liabilities; impairment assessments for investments in films and television programs, equity investments and intangible assets. Revenue Recognition Subject to the specific conditions as described below, the Company will record revenue when all of the following criteria have been met: persuasive evidence of an arrangement exists; delivery of the product has occurred; the consideration for the arrangement is fixed or determinable; and collectability is reasonably assured. Film and Television Program Revenues The Company’s film and television program business is expected to generate revenues principally from the licensing of content in domestic theatrical exhibition, home entertainment (e.g., digital media and packaged media), television, and international market places. Revenue will be recognized upon transfer of control of promised services or goods to customers in an amount that reflects the consideration that the Company expects to receive in exchange for those products. Revenue from the theatrical release of feature films is recognized at the time of exhibition based on the Company’s participation in box office receipts. Revenue from the sale of DVDs and Blu-ray discs in the retail market, net of an allowance for estimated returns and other allowances, is recognized on the later of receipt by the customer or “street date” (when it is available for sale by the customer). Under revenue sharing arrangements, including digital and electronic-sell-through arrangements, such as download-to-own, download-to-rent, video-on-demand and subscription video-on-demand, revenue is recognized when the Company is entitled to receipts and such receipts are determinable. Revenues from television or digital licensing for fixed fees are recognized when the feature film or television program is available to the licensee for telecast. For television licenses that include separate availability “windows” during the license period, revenue is allocated over the “windows.” Revenue from sales to international territories are recognized when access to the feature film or television program has been granted or delivery has occurred, as required under the sales contract, and the right to exploit the feature film or television program has commenced. For multiple media rights contracts with a fee for a single film or television program where the contract provides for media holdbacks (defined as contractual media release restrictions), the fee is allocated to the various media based on the Company’s assessment of the relative fair value of the rights to exploit each media and is recognized as each holdback is released. For multiple-title contracts with a fee, the fee is allocated on a title-by-title basis, based on the Company’s assessment of the relative fair value of each title. Producer Fee Revenues Producer fee revenues will be recognized when the services have been performed. If all services have not been provided upon receipt of the fees, the fees will be deferred and recognized as revenue on a pro rata basis as the services are performed. Music Revenues Music revenues will be recognized when the musical content has been delivered to the customer. Film, Television Programs, and Music Production Costs Film, television program, and music production costs will be capitalized in accordance with Accounting Standards Codification 926, Entertainment - Films. The capitalized amount will be stated at the lower of cost, less accumulated amortization, or fair value. These costs will represent capitalized costs for the production of films and other entertainment projects. In addition to the films, television programs and music that may be produced, costs of productions in development will be capitalized as development costs and will be transferred to production costs when the project is set for production. Films, television programs and music in development will include costs of acquiring film rights to books, stage plays or original screenplays and costs to adapt such projects, as well as amounts paid to musical artists. Projects in development will be written off at the earlier of the date they are determined not to be recoverable or when abandoned, or three years from the date of the initial investment. Once a project is released to consumers, the capitalized costs will be amortized on an individual project basis in the proportion that the current revenue for each project bears to the estimated remaining unrecognized revenue to be received from all sources for each project as of the beginning of the current year. Revenue and cost forecasts will be periodically reviewed by management and revised when warranted. The carrying value of the film costs will be reviewed for impairment each reporting period on a project-by-project basis. If events or changes in circumstance indicate that the fair value of the capitalized costs on a specific project is less than their carrying value, an impairment charge will be recognized in an amount by which the unamortized costs exceed the project’s fair value. The Company had no feature films or music projects in development as of April 30, 2020. Cash Cash includes cash deposits at financial institutions. Concentration of Risk The Company may periodically contract with consultants and vendors to provide services related to the Company’s business activities. Agreements for these services may be for a specific time period or for a specific project or task. The Company did not have any such agreements at April 30, 2020. Income Taxes The Company accounts for income taxes under an asset and liability approach for financial accounting and reporting for income taxes. Accordingly, the Company recognizes deferred tax assets and liabilities for the expected impact of differences between the financial statements and the tax basis of assets and liabilities. The Company records a valuation allowance to reduce its deferred tax assets to the amount that is more likely than not to be realized. In the event the Company was to determine that it would be able to realize its deferred tax assets in the future in excess of its recorded amount, an adjustment to the deferred tax assets would be credited to operations in the period such determination was made. Alternatively, should the Company determine that it would not be able to realize all or part of its deferred tax assets in the future, an adjustment to the deferred tax assets would be charged to operations in the period such determination was made. The Company’s wholly-owned subsidiary, Rivulet Films, converted from a pass-through limited liability corporation to a “C” corporation effective April 13, 2020. As the Company’s net operating losses in the respective jurisdictions in which it operates have yet to be utilized, all previous tax years remain open to examination by the respective taxing authorities. The Company had no unrecognized tax benefits as of April 30, 2020 and does not anticipate any material amount of unrecognized tax benefits within the next 12 months. The Company accounts for uncertainties in income tax law under a comprehensive model for the financial statement recognition, measurement, presentation, and disclosure of uncertain tax positions taken or expected to be taken in income tax returns as prescribed by GAAP. The tax effects of a position are recognized only if it is “more-likely-than-not” to be sustained by the taxing authority as of the reporting date. If the tax position is not considered “more-likely-than-not” to be sustained, then no benefits of the position are recognized. As of April 30, 2020, the Company had no uncertain tax positions, and will continue to evaluate for uncertain tax positions in subsequent periods. In future periods, any interest and penalties related to uncertain tax positions will be recognized as a component of income tax expense. Stock-Based Compensation The Company intends to issue common stock and stock options to officers, directors and consultants for services rendered. Options will vest and expire according to terms established at the issuance date of each grant. Stock grants, which are generally time vested, will be measured at the grant date fair value and charged to operations ratably over the vesting period. The fair value of stock options granted as stock-based compensation will be determined utilizing the Black-Scholes option-pricing model, and can be affected by several variables, the most significant of which are the life of the equity award, the exercise price of the stock option as compared to the fair market value of the common stock on the grant date, and the estimated volatility of the common stock. Estimated volatility will be based on the historical volatility of the Company’s common stock over an appropriate calculation period, or, if not available, by reference to the volatility of a representative sample of comparable public companies. The risk-free interest rate will be based on the U.S. Treasury yield curve in effect at the time of grant. The fair market value of the common stock will be determined by reference to the quoted market price of the Company’s common stock on the grant date, or, if not available, by reference to an appropriate alternative valuation methodology. The Company will recognize the fair value of stock-based compensation awards in the Company’s statement of operations. The Company will issue new shares of common stock to satisfy stock option exercises. As of April 30, 2020, the Company did not have any outstanding stock options. Fair Value of Financial Instruments The authoritative guidance with respect to fair value established a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three levels and requires that assets and liabilities carried at fair value be classified and disclosed in one of three categories, as presented below. Disclosure as to transfers in and out of Levels 1 and 2, and activity in Level 3 fair value measurements, is also required. Level 1. Observable inputs such as quoted prices in active markets for an identical asset or liability that the Company has the ability to access as of the measurement date. Financial assets and liabilities utilizing Level 1 inputs include active-exchange traded securities and exchange-based derivatives. Level 2. Inputs, other than quoted prices included within Level 1, which are directly observable for the asset or liability or indirectly observable through corroboration with observable market data. Financial assets and liabilities utilizing Level 2 inputs include fixed income securities, non-exchange-based derivatives, mutual funds, and fair-value hedges. Level 3. Unobservable inputs in which there is little or no market data for the asset or liability which requires the reporting entity to develop its own assumptions. Financial assets and liabilities utilizing Level 3 inputs include infrequently-traded non-exchange-based derivatives and commingled investment funds and are measured using present value pricing models. The Company will determine the level in the fair value hierarchy within which each fair value measurement falls in its entirety, based on the lowest level input that is significant to the fair value measurement in its entirety. In determining the appropriate levels, the Company will perform an analysis of the assets and liabilities at each reporting period end. The Company’s financial instruments are expected to include prepaid expenses, deposits, accounts payable, accrued expenses, and due to related parties. The estimated fair value of these instruments is expected to approximate their respective carrying amounts due to the short-term nature of these instruments. Earnings (Loss) Per Share The Company’s computation of earnings (loss) per share (“EPS”) includes basic and diluted EPS. Basic EPS is measured as the income (loss) attributable to common stockholders divided by the weighted average common shares outstanding for the period. Diluted EPS is similar to basic EPS but presents the dilutive effect on a per share basis of potential common shares (e.g., convertible notes payable, convertible preferred stock, warrants and stock options) as if they had been converted at the beginning of the periods presented, or issuance date, if later. Potential common shares that have an anti-dilutive effect (i.e., those that increase income per share or decrease loss per share) are excluded from the calculation of diluted EPS. Loss per common share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the respective periods. Basic and diluted loss per common share is the same for all periods presented because there is no convertible debt, convertible preferred stock, warrants or stock options outstanding. The 11,000,000 shares of common stock associated with the outstanding common stock subscription receivable at April 30, 2020 have been excluded from the calculation of basic and diluted EPS. Weighted average common shares outstanding has been retroactively restated for all periods presented to reflect the accounting effect of the reverse recapitalization transaction (see Note 1). Investment Securities Investment securities consist of marketable securities with a quoted market price and are measured and accounted for at fair value at the end of each reporting period, with any changes in fair value recognized as a gain or loss in the statement of operations for the period. Property and Equipment Property and equipment will be recorded at cost. Major improvements will be capitalized, while maintenance and repairs that do not improve or extend the useful life of the respective assets are charged to expense as incurred. Gains and losses from disposition of property and equipment will be included in income and expense when realized. Depreciation of property and equipment will be provided using the straight-line method over an estimated useful life of three years. The Company will recognize depreciation of property and equipment in the Company’s consolidated statement of operations. Leases Accounting Standards Update 2016-02, Leases (Topic 842) (“ASU 2016-02”) requires a lessee to record a right-of-use asset and a corresponding lease liability at the inception of the lease initially measured at the present value of the lease payments. ASU 2016-02 requires recognition in the statement of operations of a single lease cost that is calculated as a total cost of the lease allocated over the lease term, generally on a straight-line basis. The Company did not have any leases within the scope of ASU 2016-02 at April 30, 2020. Recent Accounting Pronouncements In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”). ASU 2016-13 significantly changes how entities measure credit losses for most financial assets, including accounts and notes receivables. ASU 2016-13 will replace the current “incurred loss” approach with an “expected loss” model, under which companies will recognize allowances based on expected rather than incurred losses. Entities will apply the provisions of ASU 2016-13 as a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which ASU 2016-13 is effective. ASU 2016-13 will be effective for the Company for interim and annual reporting periods beginning after December 15, 2022. Management is currently in the process of assessing the impact of adopting ASU-2016-13 on the Company’s financial statements and related disclosures. Management does not believe that any other recently issued, but not yet effective, authoritative guidance, if currently adopted, would have a material impact on the Company’s financial statement presentation or disclosures.

CHANGE IN CONTROL AND REVERSE R

CHANGE IN CONTROL AND REVERSE RECAPITALIZATION TRANSACTIONS	3 Months Ended
	Apr. 30, 2020
Notes to Financial Statements
CHANGE IN CONTROL AND REVERSE RECAPITALIZATION TRANSACTIONS	3. CHANGE IN CONTROL AND REVERSE RECAPITALIZATION TRANSACTIONS The change in control transaction effective March 26, 2020 and the reverse recapitalization transaction effective April 13, 2020 are described at Note 1. A summary of the current assets acquired from Bio-Matrix and the stockholders’ equity accounts adjusted as a result of the reverse recapitalization transaction effective as of April 13, 2020 is presented below. There were no liabilities assumed. 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 recapitalization transaction, which became effective on April 13, 2020. All amounts recorded were at historical (predecessor) cost basis. Current assets: Cash $ 572 Investment securities 3,825 Total current assets $ 4,397 Stockholders’ equity (deficiency): Preferred stock $ 202 Series B preferred stock 72 Additional paid-in capital 3,342 Common stock 781 Adjustment to stockholders’ equity (deficiency) $ 4,397 For the period April 13, 2020 through April 30, 2020, Bio-Matrix recorded a net loss of $160,611, which was included in the consolidated net loss of $283,123 that was reported in the Company’s consolidated statement of operations for the period February 11, 2020 (Date of Inception) through April 30, 2020.

INVESTMENT SECURITIES

INVESTMENT SECURITIES	3 Months Ended
	Apr. 30, 2020
Cash and Cash Equivalents [Abstract]
INVESTMENT SECURITIES	4. INVESTMENT SECURITIES On April 13, 2020, in conjunction with the reverse recapitalization (see Note 1), the Company recorded the marketable securities presented below. Number of Fair Value at Fair Value at Change in Fair Common Shares of Entest Group, Inc. (ENTI) 66,667 $ 367 $ 267 $ (100 ) Common Shares of Regen Biopharma, Inc. (RGBP) 29,076,665 2,906 2,906 — Series A Preferred Shares of Regen Biopharma, Inc. (RGBPP) 290,766 552 523 (29 ) $ 3,825 $ 3,696 $ (129 )

INTELLECTUAL PROPERTY

INTELLECTUAL PROPERTY	3 Months Ended
	Apr. 30, 2020
Notes to Financial Statements
INTELLECTUAL PROPERTY	5. INTELLECTUAL PROPERTY At April 30, 2020, intellectual property consisted of rights for various program and property rights. These agreements underlying these rights were entered into with related parties during February 2020. The Company issued 62,531,965 shares of common stock in exchange for assignment of such rights. As such rights were acquired from related parties, the Company recorded such rights at their historical (predecessor) cost, reflecting an aggregate value of $300.

STOCKHOLDERS' EQUITY (DEFICIENC

STOCKHOLDERS' EQUITY (DEFICIENCY)	3 Months Ended
	Apr. 30, 2020
Equity [Abstract]
STOCKHOLDERS' EQUITY (DEFICIENCY)	6. STOCKHOLDERS’ EQUITY (DEFICIENCY) Preferred Stock The Company is authorized to issue a total of 20,000,000 shares of preferred stock, par value $1.00 per share. In conjunction with the reverse recapitalization (see Note 1), the Company recorded issued and outstanding preferred stock of Bio-Matrix consisting of 1,435 shares of Preferred Stock with a carrying value of $202 and 1,362 shares of Series B Preferred Stock with a carrying value of $72. The class of Non-Voting Preferred Stock, of which 200,000 shares, par value $1.00 per share, had been authorized, but none were outstanding, were eliminated effective May 26, 2020. Common Stock The Company is authorized to issue a total of 200,000,000 shares of common stock, par value $0.0001 per share. At March 31, 2020, the Company entered into four common stock subscription agreements aggregating $700,000, three of which aggregating $150,000 were paid during April 2020. The remaining $550,000 subscription receivable is with a related party and has been presented as a reduction to stockholders’ equity (deficiency) in the accompanying consolidated balance sheet at April 30, 2020. The $550,000 subscription receivable from a related party dated February 11, 2020 is unsecured and includes interest at 2% per annum, with interest and principle due on March 7, 2023. The Company issued 62,531,965 shares of common stock in exchange for intellectual property which was valued at their historical (predecessor) cost basis of $300 (see Note 5) and included in other assets in the consolidated balance sheet at April 30, 2020. The Company issued 600,000 shares of common stock in exchange for services rendered, which were recorded at the fair value cost of $17,914 and included in general and administrative expenses in the consolidated statement of operations for the period February 11, 2020 (Date of Inception) through April 30, 2020.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	3 Months Ended
	Apr. 30, 2020
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	7. RELATED PARTY TRANSACTIONS As of April 30, 2020, the Company owed two related party entities a total of $341 for funds advanced to or on behalf of the Company. As of April 30, 2020, the Company has a $550,000 subscription receivable with a related party (see Note 6) that has been presented as a reduction to stockholders’ equity (deficiency) in the accompanying consolidated balance sheet at April 30, 2020.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Apr. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	8. COMMITMENTS AND CONTINGENCIES Lease Commitments The Company did not have any lease commitments as of April 30, 2020. Legal Matters The Company may, from time to time, be involved in legal proceedings, regulatory actions, claims and litigation arising in the ordinary course of business. These matters are not expected to have a material adverse effect upon the Company’s financial statements. As of April 30, 2020, the Company was not a party to any pending or threatened legal proceedings. Impact of COVID-19 on the Company The global outbreak of COVID-19 has led to severe disruptions in general economic activities, as businesses and governments have taken broad actions to mitigate this public health crisis. Although the Company has not experienced any significant disruption to its business to date, these conditions could significantly negatively impact the Company’s business in the future. The extent to which the COVID-19 outbreak ultimately impacts the Company’s business, future revenues, results of operations and financial condition will depend on future developments, which are highly uncertain and cannot be predicted, including, but not limited to, the duration and spread of the outbreak, its severity and longevity, the actions to curtail the virus and treat its impact (including an effective vaccine), and how quickly and to what extent normal economic and operating conditions can resume. Even after the COVID-19 outbreak has subsided, the Company may be at risk of experiencing a significant impact to its business as a result of the global economic impact, including any economic downturn or recession that has occurred or may occur in the future. Currently, capital markets have been disrupted by the crisis, as a result of which the availability, amount and type of financing available to the Company in the near future is uncertain and cannot be assured and is largely dependent upon evolving market conditions and other factors. The Company intends to continue to monitor the situation and may adjust its current business plans as more information and guidance become available.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Apr. 30, 2020
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	9. SUBSEQUENT EVENTS The Company performed an evaluation of subsequent events through the date on which these consolidated financial statements were issued. There were no material subsequent events which affected, or could affect, the amounts or disclosures in the consolidated financial statements, other than those as described below. Lease Assignment On May 1, 2020, the Company entered into a short-term lease assignment with a related party for office space in Gilbert, Arizona through December 31, 2020 at the rate of $800 per month. Arpaio Agreement On May 20, 2020, the “Company and Joseph M. Arpaio (“Arpaio”), who served as the 34th Sheriff of Maricopa County, entered into a Life Story Rights Agreement (the “Arpaio Agreement”), pursuant to which the Company was granted an exclusive option to acquire the motion picture, television, home-video, allied, subsidiary, and ancillary rights to Arpaio’s life story, including his name, likeness, and biography. The rights to be granted upon exercise of the option include the right to write, produce, distribute, advertise, publicize, and record soundtracks for one or more motion pictures, including remakes and sequels. The option period extends for 12 months, with a 12-month extension at the Company’s option. Prior to exercise of the option, the Company may prepare screenplays, budgets, and engage in other customary development and pre-production activities. Arpaio shall be entitled to a consulting fee of $10,000, payable within 10 days of the earlier of exercise of the option or commencement of principal photography of the first motion picture produced under the Arpaio Agreement. If the option is not exercised, this fee does not become due. Additionally, as consideration for the rights granted under the Arpaio Agreement, Arpaio shall be entitled to compensation of $20,000 for each 30 minutes that the motion picture(s) is/are expected to run (payable pro-rata at $675 per minute), payable upon the earlier of exercise of the option or commencement of principal photography of the first motion picture produced under the Arpaio Agreement. During May 2020, in connection with entering into the Arpaio Agreement, Rivulet Films formed a wholly-owned subsidiary, Borderline Productions, LLC, an Arizona limited liability company, to facilitate this project. On May 27, 2020, the Company, Rivulet Films (a wholly-owned subsidiary of the Company), and Paris Film, Inc. and Rob Paris (together, “Employee”) entered into an Employment Agreement (the “Paris Agreement”, and together with the Arpaio Agreement, the “Agreements”), pursuant which Rivulet Films agreed to employ Employee in the position as President of Rivulet Films. The employment of Employee begins on June 1, 2020, for a guaranteed term of six months, following which the employment relationship may be terminated with or without good cause or for any or no reason by either Employee or Rivulet Films. As compensation, Employee will be paid $10,000 per month, guaranteed for the first six months. Additionally, upon execution of the Paris Agreement, the Company issued options to purchase 9,000,000 shares of common stock at an exercise price of $0.10 per share, which was the closing price of the common stock on such date. Of such amount, 5,000,000 vested immediately, 2,000,000 will vest on June 1, 2021, and the remaining 2,000,000 will vest on June 1, 2022. Employee will also have the right to participate in all equity stock option plans and programs established for employees by Rivulet Films in all aspects and benefit to that of any other similarly situated C-suite employee of Rivulet Films, including its CEO. Rivulet Films will also provide Employee with other benefits, such as bonuses, perk packages, preferred stock positions, box office bonuses, and back-end/contingent compensation made generally available to similarly situated employees, including its CEO. Employee will be attached as producer, subject to a separate producer agreement to be negotiated, to all projects sourced by Employee during the term of employment. The Paris Agreement subjects Employee to certain restrictive covenants and a standard confidentiality provision. In connection with the employment, to the extent controlled by Employee and so long as Employee remains attached to each project in perpetuity, Employee grants to Rivulet Films a right of first refusal to all rights, title, and interest to the film projects known as Please Baby Please and Acolyte, as well as to all other film, story, or other production concepts which Employee creates, develops, or otherwise originates during the term employment and not passed on by Rivulet Films. Maughan Music, Inc. Agreement As of May 28, 2020, the Company, Maughan Music, Inc., a Delaware corporation and a wholly owned subsidiary of the Company formed May 26, 2020 to facilitate this transaction (“Merger Sub”), and Maughan Music Group LLC, an Arizona limited liability company (the “Target”), entered into an Agreement and Plan of Merger (the “Merger Agreement”), pursuant to which, subject to the terms and conditions therein, the Target shall be merged with and into Merger Sub (the “Merger”) and the separate existence of the Target shall cease. Following the effective time of the Merger, Merger Sub shall continue as the surviving corporation of the Merger (the “Surviving Corporation”). It is intended that the Merger qualify as a tax-free reorganization within the meaning of Section 368(a) of the Internal Revenue Code of 1986, as amended. The Merger closed on June 12, 2020. Effective upon the closing of the Merger (i) all equitable interests of the Target (“Target Equity”) then outstanding were converted into the right to receive a total of 925,000 shares of common stock of the Company, $0.0001 par value per share (“Shares”), to be distributed pro rata to the members of the Target, and (ii) each share of common stock, $0.0001 par value per share, of Merger Sub then outstanding effectively remained one share of common stock of the Surviving Corporation. Holders of Target Equity received cash in lieu of fractional shares, if applicable.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Apr. 30, 2020
Summary Of Significant Accounting Policies
Basis of Preparation	Basis of Preparation The accompanying condensed consolidated financial statements have been prepared in accordance with United States generally accepted accounting principles (“GAAP”). The condensed consolidated financial statements of the Company, including its wholly-owned subsidiaries, at April 30, 2020, and for the period February 11, 2020 (Date of Inception) through April 30, 2020, are unaudited. In the opinion of management of the Company, all adjustments, including normal recurring accruals, have been made that are necessary to present fairly the financial position of the Company as of April 30, 2020, and the results of its operations for the period February 11, 2020 (Date of Inception) through April 30, 2020, and its cash flows for the period February 11, 2020 (Date of Inception) through April 30, 2020. Operating results for the interim period presented are not necessarily indicative of the results to be expected for a full fiscal year. The condensed consolidated balance sheet at March 31, 2020 has been derived from the audited consolidated financial statements of Rivulet Films at such date. The condensed consolidated financial statements and related notes have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been omitted pursuant to such rules and regulations. These condensed consolidated financial statements should be read in conjunction with the Company’s recent filings with the SEC.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of expenses during the reporting period. Management bases its estimates on historical experience and on various assumptions that are believed to be reasonable in relation to the financial statements taken as a whole under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Management regularly evaluates the key factors and assumptions used to develop the estimates utilizing currently available information, changes in facts and circumstances, historical experience and reasonable assumptions. After such evaluations, if deemed appropriate, those estimates are adjusted accordingly. Actual results could differ from those estimates. The most significant estimates to be made by management in the preparation of the financial statements are expected to relate to the ultimate revenues realized and costs incurred for films and television programs; valuing equity instruments issued; estimates of sales returns and other allowances and provisions for doubtful accounts; the realization of deferred tax assets; accruals for contingent liabilities; impairment assessments for investments in films and television programs, equity investments and intangible assets.
Revenue Recognition	Revenue Recognition Subject to the specific conditions as described below, the Company will record revenue when all of the following criteria have been met: persuasive evidence of an arrangement exists; delivery of the product has occurred; the consideration for the arrangement is fixed or determinable; and collectability is reasonably assured. Film and Television Program Revenues The Company’s film and television program business is expected to generate revenues principally from the licensing of content in domestic theatrical exhibition, home entertainment (e.g., digital media and packaged media), television, and international market places. Revenue will be recognized upon transfer of control of promised services or goods to customers in an amount that reflects the consideration that the Company expects to receive in exchange for those products. Revenue from the theatrical release of feature films is recognized at the time of exhibition based on the Company’s participation in box office receipts. Revenue from the sale of DVDs and Blu-ray discs in the retail market, net of an allowance for estimated returns and other allowances, is recognized on the later of receipt by the customer or “street date” (when it is available for sale by the customer). Under revenue sharing arrangements, including digital and electronic-sell-through arrangements, such as download-to-own, download-to-rent, video-on-demand and subscription video-on-demand, revenue is recognized when the Company is entitled to receipts and such receipts are determinable. Revenues from television or digital licensing for fixed fees are recognized when the feature film or television program is available to the licensee for telecast. For television licenses that include separate availability “windows” during the license period, revenue is allocated over the “windows.” Revenue from sales to international territories are recognized when access to the feature film or television program has been granted or delivery has occurred, as required under the sales contract, and the right to exploit the feature film or television program has commenced. For multiple media rights contracts with a fee for a single film or television program where the contract provides for media holdbacks (defined as contractual media release restrictions), the fee is allocated to the various media based on the Company’s assessment of the relative fair value of the rights to exploit each media and is recognized as each holdback is released. For multiple-title contracts with a fee, the fee is allocated on a title-by-title basis, based on the Company’s assessment of the relative fair value of each title. Producer Fee Revenues Producer fee revenues will be recognized when the services have been performed. If all services have not been provided upon receipt of the fees, the fees will be deferred and recognized as revenue on a pro rata basis as the services are performed. Music Revenues Music revenues will be recognized when the musical content has been delivered to the customer. Film, Television Programs, and Music Production Costs Film, television program, and music production costs will be capitalized in accordance with Accounting Standards Codification 926, Entertainment - Films. The capitalized amount will be stated at the lower of cost, less accumulated amortization, or fair value. These costs will represent capitalized costs for the production of films and other entertainment projects. In addition to the films, television programs and music that may be produced, costs of productions in development will be capitalized as development costs and will be transferred to production costs when the project is set for production. Films, television programs and music in development will include costs of acquiring film rights to books, stage plays or original screenplays and costs to adapt such projects, as well as amounts paid to musical artists. Projects in development will be written off at the earlier of the date they are determined not to be recoverable or when abandoned, or three years from the date of the initial investment. Once a project is released to consumers, the capitalized costs will be amortized on an individual project basis in the proportion that the current revenue for each project bears to the estimated remaining unrecognized revenue to be received from all sources for each project as of the beginning of the current year. Revenue and cost forecasts will be periodically reviewed by management and revised when warranted. The carrying value of the film costs will be reviewed for impairment each reporting period on a project-by-project basis. If events or changes in circumstance indicate that the fair value of the capitalized costs on a specific project is less than their carrying value, an impairment charge will be recognized in an amount by which the unamortized costs exceed the project’s fair value. The Company had no feature films or music projects in development as of April 30, 2020.
Cash	Cash Cash includes cash deposits at financial institutions.
Concentration of Risk	Concentration of Risk The Company may periodically contract with consultants and vendors to provide services related to the Company’s business activities. Agreements for these services may be for a specific time period or for a specific project or task. The Company did not have any such agreements at April 30, 2020.
Income Taxes	Income Taxes The Company accounts for income taxes under an asset and liability approach for financial accounting and reporting for income taxes. Accordingly, the Company recognizes deferred tax assets and liabilities for the expected impact of differences between the financial statements and the tax basis of assets and liabilities. The Company records a valuation allowance to reduce its deferred tax assets to the amount that is more likely than not to be realized. In the event the Company was to determine that it would be able to realize its deferred tax assets in the future in excess of its recorded amount, an adjustment to the deferred tax assets would be credited to operations in the period such determination was made. Alternatively, should the Company determine that it would not be able to realize all or part of its deferred tax assets in the future, an adjustment to the deferred tax assets would be charged to operations in the period such determination was made. The Company’s wholly-owned subsidiary, Rivulet Films, converted from a pass-through limited liability corporation to a “C” corporation effective April 13, 2020. As the Company’s net operating losses in the respective jurisdictions in which it operates have yet to be utilized, all previous tax years remain open to examination by the respective taxing authorities. The Company had no unrecognized tax benefits as of April 30, 2020 and does not anticipate any material amount of unrecognized tax benefits within the next 12 months. The Company accounts for uncertainties in income tax law under a comprehensive model for the financial statement recognition, measurement, presentation, and disclosure of uncertain tax positions taken or expected to be taken in income tax returns as prescribed by GAAP. The tax effects of a position are recognized only if it is “more-likely-than-not” to be sustained by the taxing authority as of the reporting date. If the tax position is not considered “more-likely-than-not” to be sustained, then no benefits of the position are recognized. As of April 30, 2020, the Company had no uncertain tax positions, and will continue to evaluate for uncertain tax positions in subsequent periods. In future periods, any interest and penalties related to uncertain tax positions will be recognized as a component of income tax expense.
Stock Based Compensation	Stock-Based Compensation The Company intends to issue common stock and stock options to officers, directors and consultants for services rendered. Options will vest and expire according to terms established at the issuance date of each grant. Stock grants, which are generally time vested, will be measured at the grant date fair value and charged to operations ratably over the vesting period. The fair value of stock options granted as stock-based compensation will be determined utilizing the Black-Scholes option-pricing model, and can be affected by several variables, the most significant of which are the life of the equity award, the exercise price of the stock option as compared to the fair market value of the common stock on the grant date, and the estimated volatility of the common stock. Estimated volatility will be based on the historical volatility of the Company’s common stock over an appropriate calculation period, or, if not available, by reference to the volatility of a representative sample of comparable public companies. The risk-free interest rate will be based on the U.S. Treasury yield curve in effect at the time of grant. The fair market value of the common stock will be determined by reference to the quoted market price of the Company’s common stock on the grant date, or, if not available, by reference to an appropriate alternative valuation methodology. The Company will recognize the fair value of stock-based compensation awards in the Company’s statement of operations. The Company will issue new shares of common stock to satisfy stock option exercises. As of April 30, 2020, the Company did not have any outstanding stock options.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The authoritative guidance with respect to fair value established a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three levels and requires that assets and liabilities carried at fair value be classified and disclosed in one of three categories, as presented below. Disclosure as to transfers in and out of Levels 1 and 2, and activity in Level 3 fair value measurements, is also required. Level 1. Observable inputs such as quoted prices in active markets for an identical asset or liability that the Company has the ability to access as of the measurement date. Financial assets and liabilities utilizing Level 1 inputs include active-exchange traded securities and exchange-based derivatives. Level 2. Inputs, other than quoted prices included within Level 1, which are directly observable for the asset or liability or indirectly observable through corroboration with observable market data. Financial assets and liabilities utilizing Level 2 inputs include fixed income securities, non-exchange-based derivatives, mutual funds, and fair-value hedges. Level 3. Unobservable inputs in which there is little or no market data for the asset or liability which requires the reporting entity to develop its own assumptions. Financial assets and liabilities utilizing Level 3 inputs include infrequently-traded non-exchange-based derivatives and commingled investment funds and are measured using present value pricing models. The Company will determine the level in the fair value hierarchy within which each fair value measurement falls in its entirety, based on the lowest level input that is significant to the fair value measurement in its entirety. In determining the appropriate levels, the Company will perform an analysis of the assets and liabilities at each reporting period end. The Company’s financial instruments are expected to include prepaid expenses, deposits, accounts payable, accrued expenses, and due to related parties. The estimated fair value of these instruments is expected to approximate their respective carrying amounts due to the short-term nature of these instruments.
Earnings (Loss) per share	Earnings (Loss) Per Share The Company’s computation of earnings (loss) per share (“EPS”) includes basic and diluted EPS. Basic EPS is measured as the income (loss) attributable to common stockholders divided by the weighted average common shares outstanding for the period. Diluted EPS is similar to basic EPS but presents the dilutive effect on a per share basis of potential common shares (e.g., convertible notes payable, convertible preferred stock, warrants and stock options) as if they had been converted at the beginning of the periods presented, or issuance date, if later. Potential common shares that have an anti-dilutive effect (i.e., those that increase income per share or decrease loss per share) are excluded from the calculation of diluted EPS. Loss per common share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the respective periods. Basic and diluted loss per common share is the same for all periods presented because there is no convertible debt, convertible preferred stock, warrants or stock options outstanding. The 11,000,000 shares of common stock associated with the outstanding common stock subscription receivable at April 30, 2020 have been excluded from the calculation of basic and diluted EPS. Weighted average common shares outstanding has been retroactively restated for all periods presented to reflect the accounting effect of the reverse recapitalization transaction (see Note 1).
Investment Securities	Investment Securities Investment securities consist of marketable securities with a quoted market price and are measured and accounted for at fair value at the end of each reporting period, with any changes in fair value recognized as a gain or loss in the statement of operations for the period.
Property and Equipment	Property and Equipment Property and equipment will be recorded at cost. Major improvements will be capitalized, while maintenance and repairs that do not improve or extend the useful life of the respective assets are charged to expense as incurred. Gains and losses from disposition of property and equipment will be included in income and expense when realized. Depreciation of property and equipment will be provided using the straight-line method over an estimated useful life of three years. The Company will recognize depreciation of property and equipment in the Company’s consolidated statement of operations.
Leases	Leases Accounting Standards Update 2016-02, Leases (Topic 842) (“ASU 2016-02”) requires a lessee to record a right-of-use asset and a corresponding lease liability at the inception of the lease initially measured at the present value of the lease payments. ASU 2016-02 requires recognition in the statement of operations of a single lease cost that is calculated as a total cost of the lease allocated over the lease term, generally on a straight-line basis. The Company did not have any leases within the scope of ASU 2016-02 at April 30, 2020.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”). ASU 2016-13 significantly changes how entities measure credit losses for most financial assets, including accounts and notes receivables. ASU 2016-13 will replace the current “incurred loss” approach with an “expected loss” model, under which companies will recognize allowances based on expected rather than incurred losses. Entities will apply the provisions of ASU 2016-13 as a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which ASU 2016-13 is effective. ASU 2016-13 will be effective for the Company for interim and annual reporting periods beginning after December 15, 2022. Management is currently in the process of assessing the impact of adopting ASU-2016-13 on the Company’s financial statements and related disclosures. Management does not believe that any other recently issued, but not yet effective, authoritative guidance, if currently adopted, would have a material impact on the Company’s financial statement presentation or disclosures.

CHANGE IN CONTROL AND REVERSE_2

CHANGE IN CONTROL AND REVERSE RECAPITALIZATION TRANSACTIONS (Tables)	3 Months Ended
	Apr. 30, 2020
Change In Control And Reverse Recapitalization Transactions
Schedule of Business Acquisitions, by Acquisition [Table Text Block]	Current assets: Cash $ 572 Investment securities 3,825 Total current assets $ 4,397 Stockholders’ equity (deficiency): Preferred stock $ 202 Series B preferred stock 72 Additional paid-in capital 3,342 Common stock 781 Adjustment to stockholders’ equity (deficiency) $ 4,397

INVESTMENT SECURITIES (Tables)

INVESTMENT SECURITIES (Tables)	3 Months Ended
	Apr. 30, 2020
Disclosure Investment Securities Tables Abstract
Schedule of Marketable Securities	Number of Fair Value at Fair Value at Change in Fair Common Shares of Entest Group, Inc. (ENTI) 66,667 $ 367 $ 267 $ (100 ) Common Shares of Regen Biopharma, Inc. (RGBP) 29,076,665 2,906 2,906 — Series A Preferred Shares of Regen Biopharma, Inc. (RGBPP) 290,766 552 523 (29 ) $ 3,825 $ 3,696 $ (129 )

INVESTMENT SECURITIES (Details)

INVESTMENT SECURITIES (Details) - USD ($)	1 Months Ended
	Apr. 30, 2020	Apr. 13, 2020
Fair Value	$ 3,696	$ 3,825
Change in Fair Value for the Period April 13, 2020 through April 30, 2020	(129)
Common Shares of Entest Group, Inc. (ENTI)
Investment Owned, Balance, Shares		66,667
Fair Value	267	$ 367
Change in Fair Value for the Period April 13, 2020 through April 30, 2020	(100)
Common Shares of Regen Biopharma, Inc. (RGBP)
Investment Owned, Balance, Shares		29,076,665
Fair Value	2,906	$ 2,906
Change in Fair Value for the Period April 13, 2020 through April 30, 2020
Series A Preferred Shares of Regen Biopharma, Inc. (RGBPP)
Investment Owned, Balance, Shares		290,766
Fair Value	523	$ 552
Change in Fair Value for the Period April 13, 2020 through April 30, 2020	$ (29)

CHANGE IN CONTROL AND REVERSE_3

CHANGE IN CONTROL AND REVERSE RECAPITALIZATION TRANSACTIONS (Details) - Bio-Matrix Scientific Group, Inc	Apr. 13, 2020USD ($)
Cash	$ 572
Investment securities	3,825
Total current assets	4,397
Preferred stock	202
Series B preferred stock	72
Additional paid-in capital	3,342
Common stock	781
Adjustment to stockholders' equity (deficiency)	$ 4,397

STOCKHOLDERS' EQUITY (DEFICIE_2

STOCKHOLDERS' EQUITY (DEFICIENCY) (Details Narrative) - USD ($)	Apr. 30, 2020	Mar. 31, 2020
Preferred stock, par value	$ 0.0001
Preferred stock, shares authorized	20,000,000
Preferred stock, issued	1,435
Preferred stock, outstanding	1,435
Preferred stock Value	$ 202
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	200,000,000	200,000,000
Common stock, issued	86,964,632	79,155,765
Common stock, outstanding	86,964,632	79,155,765
Series B Preferred Stock [Member]
Preferred stock, par value	$ 0.0001
Preferred stock, shares authorized	20,000,000
Preferred stock, issued	1,362
Preferred stock, outstanding	1,362
Preferred stock Value	$ 72

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	Apr. 30, 2020	Mar. 31, 2020
Related Party Transactions
Due to Related Party	$ 341	$ 341
Subscription Receivable with a Related Party	$ 550,000	$ 550,000

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative)	1 Months Ended
	May 31, 2020USD ($)
Subsequent Event [Member]
Monthly Rent	$ 800