Rivulet Media (RIVU) 10-K 12 May 22 2021 FY Annual report Financial data

Cover

Cover - USD ($)		12 Months Ended
		Jul. 31, 2021	Apr. 30, 2022	Jan. 31, 2022
Cover [Abstract]
Document Type		10-K
Amendment Flag		false
Document Annual Report		true
Document Transition Report		false
Document Period End Date		Jul. 31, 2021
Document Fiscal Period Focus		FY
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 Address, Address Line One		1206 East Warner Road
Entity Address, Address Line Two		Suite 101-I
Entity Address, City or Town		Gilbert
Entity Address, State or Province		AZ
Entity Address, Postal Zip Code		85296
City Area Code		(480)
Local Phone Number		652-9800
Entity Well-known Seasoned Issuer		No
Entity Voluntary Filers		No
Entity Current Reporting Status		No
Entity Interactive Data Current		No
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 Public Float	[1]			$ 7,850,864
Entity Common Stock, Shares Outstanding			144,045,171
[1]	Calculation excludes shares held by directors, officers, and shareholders holding more than 10% of the Company’s outstanding common stock.

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Jul. 31, 2021	Jul. 31, 2020
Current assets:
Cash	$ 32,473	$ 18,281
Marketable securities	533,751	10,436
Other prepaid expenses and current assets	279,219	2,945
Total current assets	845,443	31,662
Property and equipment, net	31,046
Intellectual property	143,957	300
Project development costs, including $154,221 and $51,500 incurred with related parties, at July 31, 2021, and 2020, respectively	4,915,610	134,413
Total assets	5,936,056	166,375
Current liabilities:
Accounts payable and accrued expenses	710,656	170,972
Compensation and related expenses payable, including $450,000 and $90,000 to a related party, at July 31, 2021, and 2020, respectively	527,109	120,317
Deferred revenue	63,071
Due to related party	3,466
Payable for rescinded stock subscription receivable	60,000
Unsecured promissory notes payable to related party, including accrued interest payable of $24,364	1,525,298
Unsecured promissory note payable, including accrued interest payable of $2,051	177,051
Secured multiple advance promissory note payable to related party, including accrued interest payable of $77,722	1,077,722
Convertible note payable, net of debt discount of $47,324 debt issuance costs related to the convertible note payable of $2,135, including accrued interest payable of $811	80,101
Derivative liability, net of issuance costs related to the conversion option of $1,378	49,252
Contingent loss related to default of convertible note payable	64,375
Convertible promissory note payable, including accrued interest of $427		25,427
Total current liabilities	4,338,101	316,716
Convertible promissory note payable including accrued interest payable of $4,356	104,356
Total liabilities	4,442,457	316,716
Stockholders’ equity (deficiency):
Series B preferred stock, $0.0001 par value; authorized – 2,000,000 shares; issued and outstanding – 1,347 shares	202	202
Common stock, $0.0001 par value; authorized – 200,000,000 shares; issued and outstanding – 136,070,171 shares and 96,691,761 shares at July 31, 2021, and 2020, respectively	13,607	9,669
Additional paid-in capital	4,880,354	1,456,644
Common stock subscription receivable from related party	(482,600)	(550,000)
Accumulated deficit	(2,918,036)	(1,066,928)
Total stockholders’ equity (deficiency)	1,493,599	(150,341)
Total liabilities and stockholders’ equity (deficiency)	5,936,056	166,375
Series B Preferred Stock [Member]
Stockholders’ equity (deficiency):
Series B preferred stock, $0.0001 par value; authorized – 2,000,000 shares; issued and outstanding – 1,347 shares	$ 72	$ 72

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jul. 31, 2021	Jul. 31, 2020
Preferred Stock, Par Value	$ 0.0001	$ 0.0001
Preferred Stock, Shares Authorized	20,000,000	20,000,000
Preferred Stock, Shares Issued	1,434	1,434
Preferred Stock, Shares Outstanding	1,434	1,434
Common Stock, Par Value	$ 0.0001	$ 0.0001
Common Stock, Shares Authorized	200,000,000	200,000,000
Common Stock, Shares, Issued	136,070,171	96,691,761
Common Stock, Shares, Outstanding	136,070,171	96,691,761
Series B Preferred Stock [Member]
Preferred Stock, Par Value	$ 0.0001	$ 0.0001
Preferred Stock, Shares Authorized	2,000,000	2,000,000
Preferred Stock, Shares Issued	1,347	1,347
Preferred Stock, Shares Outstanding	1,347	1,347

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	6 Months Ended	12 Months Ended
	Jul. 31, 2020	Jul. 31, 2021
Income Statement [Abstract]
Revenues		$ 46,074
Revenues – related party		18,000
Total revenue		64,074
General and administrative:
Officers, directors, affiliates, and other related parties	493,472	1,032,164
Other costs	447,847	1,210,387
Production costs		35,349
Sales and marketing	11,289	13,926
Write-off of consideration paid for acquisition of Maughan Music Group, LLC	115,532
Total costs and expenses	1,068,140	2,291,826
Loss from operations	(1,068,140)	(2,227,752)
Other income (expense):
Increase in fair value of marketable securities	1,639	523,315
Loss on restatement of convertible note		(48,010)
Increase in fair value of derivative liability		(123)
Convertible promissory note payable default obligation incurred		(64,375)
Interest expense, net	(427)	(34,163)
Total other income net	1,212	376,644
Net loss	$ (1,066,928)	$ (1,851,108)
Net loss per common share – basic and diluted	$ (0.04)	$ (0.02)
Weighted average common shares outstanding – basic and diluted	28,805,814	90,255,725

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS? EQUITY (DEFICIENCY) - USD ($)	Preferred Stock [Member]Series B Preferred Stock [Member]	Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Common Stock Subscription Receivable From Related Party	Retained Earnings [Member]	Total
Balance, February 11, 2020 (date of inception) at Feb. 10, 2020
Beginning Balance, Shares at Feb. 10, 2020
Sales of common stock			$ 1,382	588,618			590,000
Sales of common stock, Shares			13,823,800
Stock-based compensation expense				183,472			183,472
Net loss for the period from February 11, 2020 (inception) through July 31, 2020						(1,066,928)	(1,066,928)
Common stock issued for intellectual property			$ 6,254	(5,954)			300
Common stock issued for intellectual property, Shares			62,531,965
Common stock subscription receivable from related party			$ 1,100	548,900	(550,000)
Common stock subscription receivable from related party, Shares			11,000,000
Common stock issued for services			$ 60	17,854			17,914
Common stock issued for services, Shares			600,000
Stock issued in connection with reverse acquisition transaction	$ 72	$ 202	$ 781	8,314			9,369
Stock issued in connection with reverse acquisition transaction, Shares	1,347	1,434	7,810,996
Common stock issued in connection with acquisition of Maughan Music Group, LLC			$ 92	115,440			115,532
Common stock issued in connection with acquisition of Maughan Music Group, LLC, Shares			925,000
Ending balance, value at Jul. 31, 2020	$ 72	$ 202	$ 9,669	1,456,644	(550,000)	(1,066,928)	$ (150,341)
Ending Balance, Shares at Jul. 31, 2020	1,347	1,434	96,691,761				20,127,136
Payments received on common stock subscription receivable from related party					67,400		$ 67,400
Conversion of unsecured convertible promissory note payable			$ 13	25,669			25,682
Conversion of unsecured convertible promissory note payable, Shares			128,410
Sales of common stock			$ 3,925	3,261,075			3,265,000
Sales of common stock, Shares			39,250,000
Stock-based compensation expense				88,956			88,956
Discount on convertible promissory note payable				48,010			48,010
Net loss for the period from February 11, 2020 (inception) through July 31, 2020						(1,851,108)	(1,851,108)
Common stock issued for services
Stock issued in connection with reverse acquisition transaction
Common stock issued in connection with acquisition of Maughan Music Group, LLC
Ending balance, value at Jul. 31, 2021	$ 72	$ 202	$ 13,607	$ 4,880,354	$ (482,600)	$ (2,918,036)	$ 1,493,599
Ending Balance, Shares at Jul. 31, 2021	1,347	1,434	136,070,171				18,912,890

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	6 Months Ended	12 Months Ended
	Jul. 31, 2020	Jul. 31, 2021
Cash flows from operating activities:
Net loss	$ (1,066,928)	$ (1,851,108)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation		2,615
Stock-based compensation expense	183,472	88,956
Increase in fair value of marketable securities	(1,639)	(523,315)
Increase in fair value of derivative liability		123
Common stock issued for services	17,914
Common stock issued in connection with acquisition of Maughan Music Group, LLC	115,532
Write-off debt discount on convertible note		48,010
Amortization of costs related to issuance of convertible promissory note payable		144
Amortization of derivative discount related to the convertible promissory note payable		3,275
Convertible promissory note payable default obligation incurred		64,375
(Increase) in -
Prepaid expenses and current assets	(2,945)	(276,274)
Increase in -
Accounts payable and accrued expenses	170,972	649,244
Compensation and related expenses payable	120,317	406,792
Deferred revenue		63,071
Accrued interest payable	427
Due to related parties		3,466
Net cash used in operating activities	(462,878)	(1,320,626)
Cash flows from investing activities:
Purchase of property and equipment		(33,661)
Purchase of intellectual property		(143,657)
Increase in project development costs	(134,413)	(4,781,197)
Net cash used in investing activities	(134,413)	(4,958,515)
Cash flows from financing activities:
Cash acquired in reverse acquisition transaction	572
Proceeds from sales of common stock	440,000	3,265,000
Proceeds from rescinded stock subscription receivable		60,000
Payments received on common stock subscription receivable		67,400
Proceeds from issuance of convertible promissory notes payable	25,000	225,000
Proceeds from issuance of secured promissory note payable		1,000,000
Proceeds from issuance of unsecured promissory notes payable to related party		2,069,571
Proceeds from issuance of unsecured promissory notes payable		185,000
Proceeds from payment of common stock subscriptions receivable	150,000
Payments on unsecured promissory notes payable to related party		(568,638)
Payments on unsecured promissory notes payable		(10,000)
Net cash provided by financing activities	615,572	6,293,333
Net increase	18,281	14,192
Balance at beginning of period		18,281
Balance at end of period	18,281	32,473
Supplemental disclosures of cash flow information:
Interest		566
Income taxes		50
Non-cash investing and financing activities:
Discount for conversion option of convertible note payable		50,507
Principal amount of convertible promissory note payable converted into common stock		25,000
Principal amount of unsecured promissory note transferred at date of maturity to new promissory note with later maturity date		85,000
Investment securities acquired in connection with reverse acquisition transaction	8,797
Value of preferred and common stock issued with reverse acquisition transaction	$ 9,369

ORGANIZATION AND BASIS OF PRESE

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 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.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Jul. 31, 2021
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Preparation The accompanying consolidated financial statements have been prepared in accordance with United States generally accepted accounting principles (“GAAP”). Consolidation The consolidated financial statements include the financial statements of the Company and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. 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 consolidated financial statements relate to revenues realized and costs incurred for films and television programs; valuing equity instruments issued; the realization of deferred tax assets; accruals for contingent liabilities; impairment assessments for investments in films and television programs, equity investments and intangible assets. Derivative Financial Instruments Derivative financial instruments, as defined in ASC 815, “Accounting for Derivative Financial Instruments and Hedging Activities”, consist of financial instruments or other contracts that contain a notional amount and one or more underlying variables (e.g., interest rate, security price or other variable), require no initial net investment and permit net settlement. Derivative financial instruments may be free-standing or embedded in other financial instruments. Further, derivative financial instruments are initially, and subsequently, measured at fair value and recorded as liabilities or, in rare instances, assets. We do not use derivative financial instruments to hedge exposures to cash-flow, market, or foreign-currency risks. However, during the year ending July 31, 2021, we issued a financial instrument in the form of a convertible promissory note payable with embedded conversion features that do not afford equity classification. As required by ASC 815, these embedded conversion options are required to be carried as derivative liabilities, at fair value, in our financial statements. We estimated the fair value of its bifurcated embedded conversion features using a Stock Path Monte Carlo Simulation model. Estimating fair values of derivative financial instruments requires the development of significant and subjective estimates (such as volatility, estimated life, and risk-free rates of return) that may, and are likely to, change over the duration of the instrument with related changes in internal and external market factors. In addition, option-based techniques are highly volatile and sensitive to changes in the trading market price of our common stock, which has a high-historical volatility. Film, Television Programs, and Music Production Costs Film, television program, and music production costs are capitalized in accordance with Accounting Standards Codification 926, Entertainment - Films. Capitalized amounts are stated at the lower of cost, less accumulated amortization, or fair value. These costs represent capitalized costs for the production of films and other entertainment projects. In addition to the films, television programs and music that the Company may produce, costs of productions in development are capitalized as development costs and are transferred to production costs when the project is set for production. Films, television programs and music in development 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 are written off if they are determined not to be recoverable and are evaluated for impairment at each reporting period. Once a project is released to consumers, the capitalized costs are 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 fiscal year. Revenue and cost forecasts are periodically reviewed by management and revised when warranted. The carrying value of film costs are 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 the carrying value, an impairment charge is recognized in the amount by which the unamortized costs exceed the project’s fair value. As of July 31, 2021, the Company has completed two feature films and one documentary and has one feature film in production. After testing for impairment of each of the projects, management has determined that no impairment charges should be recognized. Revenue Recognition 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 marketplaces. 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 services or goods. Revenues do not include taxes collected from customers on behalf of taxing authorities, such as sales tax and value-added tax. Revenues from the licensing of film and television content and the sales and licensing of music will be recognized when the content has been delivered and the license period has begun, as discussed above. Revenues from the licensing of symbolic intellectual property (i.e., licenses of motion pictures or television characters, brands, storylines, themes, or logos) will be recognized over the corresponding license term. Commissions will be recognized as such services are provided. Licensing Arrangements. Fixed Fee or Minimum Guarantees. The Company’s fixed fee or minimum guarantee licensing arrangements may, in some cases, include multiple titles, multiple license periods (windows) with a substantive period in between the windows, rights to exploitation in different media, or rights to exploitation in multiple territories, which may be considered distinct performance obligations. When these performance obligations are considered distinct, the fixed fee or minimum guarantee in the arrangement is allocated to the title, window, media right or territory as applicable, based on estimates of relative standalone selling prices. The amounts related to each performance obligation (i.e., title, window, media, or territory) will be recognized when the content has been delivered, and the window for the exploitation right in that territory has begun, which is the point in time at which the customer is able to begin to use and benefit from the content. Sales or Usage Based Royalties. Sales or usage-based royalties will represent amounts due to the Company based on the “sale” or “usage” of the Company’s content by the customer, and revenues which will be recognized at the later of when the subsequent sale or usage occurs, or the performance obligation to which some or all the sales or usage-based royalty has been allocated and has been satisfied (or partially satisfied). Generally, when the Company licenses completed content (with standalone functionality, such as a movie, or television show), its performance obligation will be satisfied prior to the sale or usage. When the Company licenses intellectual property that does not have stand-alone functionality (e.g., brands, themes, logos, etc.), its performance obligation will generally be satisfied in the same period as the sale or usage. The actual amounts due to the Company under these arrangements will generally not be reported to the Company until after the close of the reporting period. The Company will record revenue under these arrangements for the amounts due and not yet reported to the Company based on estimates of the sales or usage of these customers and pursuant to the terms of the contracts. Such estimates will be based on information from the Company’s customers, historical experience with similar titles in that market or territory, the performance of the title in other markets, and/or data available in the industry. Revenues by Market or Product Line. The following describes the revenues expected to be generated by market or product line. Theatrical Home Entertainment Digital Media Digital Transaction Revenue Sharing Arrangements Licenses of Content to Digital Platforms Packaged Media Television International Event-Based Other Related Parties Deferred Revenue Deferred revenue relates to customer cash advances or deposits received prior to when the Company satisfies the corresponding performance obligation. Payment terms are expected to vary by location and type of customer and the nature of the licensing arrangement, however, other than multi-year license arrangements; payments will generally be due within 60 days after revenue is recognized. For certain multi-year licensing arrangements, primarily in the television, digital media, and international markets, payments may be due over a longer period. When the Company expects the period between fulfillment of the Company’s performance obligation and the receipt of payment to be greater than a year, a significant financing component will be present. In these cases, such payments will be discounted to present value based on a discount rate reflective of a separate financing transaction between the customer and the Company, at contract inception. The significant financing component will be recorded as a reduction to revenue and accounts receivable initially, with such accounts receivable discount amortized to interest income over the period to receipt of payment. The Company does not assess contracts with deferred payments for significant financing components if, at contract inception, the Company expects the period between fulfillment of the performance obligation and subsequent payment to be one year or less. In other cases, customer payments may be made in advance of when the Company fulfills its performance obligation and recognizes revenue. This may primarily occur under television production contracts, in which payments may be received as the production progresses, international motion picture contracts, where a portion of the payments are received prior to the completion of the movie and prior to license rights start dates and pay television contracts with multiple windows with a portion of the revenues deferred until the subsequent exploitation windows commence. These arrangements will not contain significant financing components because the reason for the payment structure is not for the provision of financing to the Company, but rather to mitigate the Company’s risk of customer non-performance and incentivize the customer to exploit the Company’s content. Cash The Company maintains its cash balances with financial institutions with high credit ratings and in accounts insured by the Federal Deposit Insurance Corporation (the “FDIC”). The Company may periodically have cash balances in banks in excess of FDIC insurance limits. The Company has not experienced any losses to date resulting from this practice. Marketable Securities The Company’s marketable securities consist primarily of corporate equities with a quoted market price that are classified as trading securities. Marketable securities are stated at fair value as determined by the closing price of each security at each balance sheet date. Unrealized gains and losses on these securities are included in operations for the applicable period. The marketable securities have been presented as a current asset at each balance sheet date. 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. Costs and expenses incurred that represented 10% or more of costs for the period from August 1, 2020, through July 31, 2021, consist of legal fees of $ 224,389 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 July 31, 2021 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 July 31, 2021, 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 periodically issues common stock and stock options to officers, directors, employees, contractors, and consultants for services rendered. Options vest and expire according to terms established at the issuance date of each grant. Stock grants, which are generally time vested, are measured at the grant date fair value and charged to operations ratably over the vesting period. The Company accounts for stock-based payments to officers, directors, employees, contractors, and consultants by measuring the cost of services received in exchange for equity awards utilizing the grant date fair value of the awards, with the cost recognized as compensation expense over the period during which the individual is required to perform services in exchange for the award, which is generally over the vesting period of the award. The fair value of stock options granted as stock-based compensation is determined utilizing the Black-Scholes option-pricing model, and is 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 is 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 is based on the U.S. Treasury yield curve in effect at the time of grant. The fair market value of the common stock is determined by reference to the quoted market price of the Company’s common stock on the grant date. The Company recognizes the fair value of stock-based compensation awards in in the Company’s consolidated statements of operations. Through July 31, 2021, stock-based compensation costs have been included in general and administrative costs. The Company issues new shares of common stock to satisfy stock option exercises. 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 include marketable securities, prepaid expenses, deposits, accounts payable, accrued expenses, derivative liabilities, and amounts due to related parties. The estimated fair value of these instruments approximates their respective carrying amounts due to the short-term nature of these instruments. Earnings Per Share The Company’s computation of earnings 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 number of common shares outstanding for the period. Diluted EPS is computed similar to basic EPS, except that the denominator is increased to include the number of additional common shares that would have been outstanding if all potential shares of common stock pertaining to convertible notes payable, common stock subscriptions receivable and stock options had been issued as of the beginning of the period presented, or issuance date, if later. Dilution is computed by applying the treasury stock method for common stock subscriptions receivable and outstanding vested and unvested stock options, and the if-converted method is utilized for outstanding convertible notes payable. Under the treasury stock method, common stock subscriptions receivable are assumed to be received and stock options are assumed to be exercised at the beginning of the period (or at the time of issuance, if later) and as if the funds obtained thereby were used to purchase common stock at the average market price during the period. Under the if-converted method, outstanding convertible notes payable are assumed to be converted into common stock at the beginning of the period (or at the time of issuance, 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. At July 31, 2021, and 2020, the Company excluded the outstanding securities summarized below, which entitle the holders thereof to acquire shares of common stock, from its calculation of earnings per share, as their effect would have been anti-dilutive. Schedule of Outstanding Securities July 31, 2021 2020 Convertible promissory note 260,890 127,136 Common stock subscription receivable 9,652,000 11,000,000 Common stock options 9,000,000 9,000,000 Total 18,912,890 20,127,136 Weighted average common shares outstanding has been retroactively restated for all periods presented to reflect the accounting effect of the 2020 Reverse Acquisition Transaction (see Note 1). Property and Equipment Property and equipment is recorded at cost. Major improvements are 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 and seven years. The Company recognizes depreciation of property and equipment in general and administrative costs in the Company’s consolidated statement of operations. Leases Accounting Standards Update (“ASU”) 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. ASU 2016-02 excludes short-term operating leases with a lease term of 12 months or less at the commencement date, and that do not include an option to purchase the underlying asset that the lessee is reasonably certain to exercise. The Company did not have any leases within the scope of ASU 2016-02 at July 31, 2021. Recent Accounting Pronouncements In June 2016, the Financial Accounting Standards Board (the “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 receivable. 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. In March 2019, the FASB issued ASU 2019-02, Entertainment—Films—Other Assets—Film Costs (Subtopic 926-20) and Entertainment—Broadcasters—Intangibles—Goodwill and Other (Subtopic 920-350): Improvements to Accounting for Costs of Films and License Agreements for Program Materials (“ASU 2019-02”). ASU 2019-02 aligns the accounting for production costs of an episodic television series with the accounting for production costs of films by removing the content distinction for capitalization. Accordingly, the capitalization of production costs for episodic television series is no longer constrained until persuasive evidence of secondary market revenues exists. This new guidance also updates certain presentation and disclosure requirements for capitalized film and television costs and requires impairment testing to be performed at a group level for capitalized film and television costs when the content is predominantly monetized with other owned or licensed content. A film group is defined as the lowest level at which identifiable cash flows are largely independent of the cash flows of other films and/or license agreements. In addition, under previous guidance, film and television programs accounted for under the broadcasting accounting standard were carried on the balance sheet at the lower of cost or net realizable value. This new guidance requires that an entity test a film or television program for impairment, when impairment indicators are present, at a film group level when the film or license agreement is predominantly monetized with other films and/or license agreements. The impairment would be measured as the difference between the carrying value of the film group and its fair value rather than its net realizable value. This new guidance requires that an entity provide new disclosures about content that is either produced or licensed and classify cash flows for licensed content as cash flows from operating activities in the statement of cash flows. ASU 2019-02 was effective for the Company’s fiscal year beginning August 1, 2020 and was required to be adopted on a prospective basis. The adoption of ASU 2019-02 did not have any impact on the Company’s consolidated financial statement presentation or disclosures. The Company will continue to present all project development costs, including capitalized costs of acquired programming rights, as non-current assets in its consolidated balance sheet. In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (“ASU 2019-12”). ASU 2019-12 simplifies the accounting for income taxes by removing certain exceptions and enhances and simplifies various aspects of the income tax accounting guidance in ASC 740. ASU 2019-12 is effective for interim and annual reporting periods beginning after December 15, 2020. Management has not yet evaluated the effect that the adoption of ASU 2019-12 will have on the Company’s consolidated financial statement presentation or disclosures. In August 2020, the FASB issued ASU 2020-06, Debt — Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity (“ASU 2020-06). ASU 2020-06 simplifies the accounting for convertible debt by eliminating the beneficial conversion and cash conversion accounting models. Upon adoption of ASU 2020-06, convertible debt proceeds, unless issued with a substantial premium or an embedded conversion feature that is not clearly and closely related to the host contract, will no longer be allocated between debt and equity components. ASU 2020-06 will reduce the issue discount and result in less non-cash interest expense in financial statements. ASU 2020-06 also revises the earnings per share calculation and requires entities to assume share settlement when the convertible debt can be settled in cash or shares. For contracts in an entity’s own equity, the type of contracts primarily affected by ASU 2020-06 are freestanding and embedded features that are accounted for as derivatives under the current guidance due to a failure to meet the settlement conditions of the derivative scope exception. ASU 2020-06 simplifies the related settlement assessment by removing the requirements to (i) consider whether the contract would be settled in registered shares, (ii) consider whether collateral is required to be posted, and (iii) assess shareholder rights. ASU 2020-06 is effective for fiscal years beginning after December 15, 2023. Early adoption is permitted, but no earlier than fiscal years beginning after December 15, 2020, and only if adopted as of the beginning of such fiscal year. Management has not yet evaluated the effect that the adoption of ASU 2020-06 will have on the Company’s consolidated financial statement presentation or disclosures. In May 2021, the FASB issued ASU 2021-04, Earnings Per Share (Topic 260), Debt — Modifications and Extinguishments (Subtopic 470-50), Compensation — Stock Compensation (Topic 718), and Derivatives and Hedging — Contracts in Entity’s Own Equity (Subtopic 815-40): Issuer’s Accounting for Certain Modifications or Exchanges of Freestanding Equity-Classified Written Call Options (“ASU 2021-04”). ASU 2021-04 provides guidance as to how an issuer should account for a modification of the terms or conditions or an exchange of a freestanding equity-classified written call option (i.e., a warrant) that remains classified after modification or exchange as an exchange of the original instrument for a new instrument. An issuer should measure the effect of a modification or exchange as the difference between the fair value of the modified or exchanged warrant and the fair value of that warrant immediately before modification or exchange and then apply a recognition model that comprises four categories of transactions and the corresponding accounting treatment for each category (equity issuance, debt origination, debt modification, and modifications unrelated to equity issuance and debt origination or modification). ASU 2021-04 is effective for all entities for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. An entity should apply the guidance provided in ASU 2021-04 prospectively to modifications or exchanges occurring on or after the effective date. Early adoption is permitted for all entities, including adoption in an interim period. If an entity elects to early adopt ASU 2021-04 in an interim period, the guidance should be applied as of the beginning of the fiscal year that includes that interim period. Management has not yet evaluated the effect that the adoption of ASU 2021-04 will have on the Company’s consolidated financial statement presentation or 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 A

CHANGE IN CONTROL AND REVERSE ACQUISITION TRANSACTIONS	12 Months Ended
	Jul. 31, 2021
Change In Control And Reverse Acquisition Transactions
CHANGE IN CONTROL AND REVERSE ACQUISITION TRANSACTIONS	3. CHANGE IN CONTROL AND REVERSE ACQUISITION TRANSACTIONS The change in control transaction effective March 26, 2020, and the reverse acquisition 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 acquisition transaction effective as of April 13, 2020, is presented below. There were no liabilities assumed in conjunction with the reverse acquisition transaction. 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. All amounts recorded were at historical (predecessor) cost basis. Schedule of Change in Control and Reverse Acquisition Transactions Current assets acquired: Cash $ 572 Marketable securities 8,797 Total current assets $ 9,369 Adjustment to stockholders’ deficiency: Preferred stock ( 1,434 $ 202 Series B preferred stock ( 1,347 72 Common stock ( 7,810,996 781 Additional paid-in capital 8,314 Shares issued in reverse acquisition transaction $ 9,369

MARKETABLE SECURITIES

MARKETABLE SECURITIES	12 Months Ended
	Jul. 31, 2021
Cash and Cash Equivalents [Abstract]
MARKETABLE SECURITIES	4. MARKETABLE SECURITIES The Company’s marketable securities consist primarily of corporate equities with a quoted market price that are classified as trading securities. On April 13, 2020, in conjunction with the reverse acquisition (see Notes 1 and 3), the Company recorded an initial investment in marketable securities at historical (predecessor) cost basis reflecting an aggregate value of $8,797. Marketable securities are stated at fair value as determined by the closing price of each security at each balance sheet date. Unrealized gains and losses on these securities are included in operations for the applicable period. As of July 31, 2021, and 2020, the Company’s marketable securities are presented below. Schedule of Marketable Securities Change in Fair Value For the Number Year of Fair Value at Ended Shares July 31, 2021 July 31, 2020 July 31, 2021 Common Shares of Entest Group, Inc. (ENTI) 66,667 $ 340 $ 260 $ 80 Common Shares of Regen Biopharma, Inc. (RGBP) 29,076,665 393,989 5,814 388,175 Series A Preferred Shares of Regen Biopharma, Inc. (RGBPP) 2,907,666 139,422 4,362 135,060 Total $ 533,751 $ 10,436 $ 523,315

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT	12 Months Ended
	Jul. 31, 2021
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT	5. PROPERTY AND EQUIPMENT Property and equipment as of July 31, 2021, is summarized as follows: Schedule of Property and Equipment Computer and office equipment $ 23,767 Furniture and fixtures 9,894 Property and equipment, at cost 33,661 Less accumulated depreciation (2,615 ) Property and equipment, net $ 31,046 Depreciation expense for the year ended July 31, 2021, was $ 2,615

INTELLECTUAL PROPERTY

INTELLECTUAL PROPERTY	12 Months Ended
	Jul. 31, 2021
Intellectual Property
INTELLECTUAL PROPERTY	6. INTELLECTUAL PROPERTY At July 31, 2020, intellectual property consisted of rights for various program and property rights. The 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 such rights. As such rights were acquired from related parties, the Company recorded such rights at their historical (predecessor) cost basis reflecting an aggregate value of $300. At July 31, 2021, the Company purchased program and property rights aggregating $143,957.

PROJECT DEVELOPMENT COSTS

PROJECT DEVELOPMENT COSTS	12 Months Ended
	Jul. 31, 2021
Research and Development [Abstract]
PROJECT DEVELOPMENT COSTS	7. PROJECT DEVELOPMENT COSTS At July 31, 2021, the Company had one documentary film titled “It’s Complicated” about the life of former Arizona Sheriff Joseph M. Arpaio, and two feature films, entitled “Please Bay Please” and “Mistress”, that are completed and one feature film in development entitled “Taurus”. The Company also began an animated series tilted Storyland, which is currently on hold. The project development costs are summarized as follows. Schedule of Project Development Cost Production “It’s “Please Baby “Mistress “Storyland” “Taurus” Total Balance, February 11, 2020 $ - $ - $ - $ - $ - $ - Additions 134,413 - - - - 134,413 Balance, July 31, 2020 134,413 - - - - 134,413 Additions 27,559 2,086,103 1,057,436 12,250 1,572,208 4,755,556 Refunds - (52,081 ) - - - (52,081 ) Capitalized Interest - 77,722 - - - 77,722 Balance, July 31, 2021 $ 161,972 $ 2,111,744 $ 1,057,436 $ 12,250 $ 1,572,208 $ 4,915,610 During the year ended July 31, 2021, the Company paid producer fees to an officer of the Company of $25,000, which are accounted for as project development costs in the accompanying consolidated balance sheet at July 31, 2021. See note 11. As of July 31, 2021, the Company’s management tested each of the media assets for impairment and concluded that the none of the assets had suffered any impairment of value.

PROMISSORY NOTES PAYABLE

PROMISSORY NOTES PAYABLE	12 Months Ended
	Jul. 31, 2021
Promissory Notes Payable
PROMISSORY NOTES PAYABLE	8. PROMISSORY NOTES PAYABLE CONVERTIBLE NOTES PAYABLE On June 9, 2020, the Company issued a short-term unsecured convertible promissory note for $25,000, with interest at 12% interest per annum and maturing on September 7, 2020. The unsecured convertible promissory note was convertible into shares of common stock of the Company at $0.20 per share, which was in excess of the closing market price of the Company’s common stock on June 9, 2020, of $0.07 per share. On August 31, 2020, the principal balance of the unsecured convertible promissory note of $25,000, plus accrued interest payable of $682, was repaid through conversion into 128,410 shares of common stock. On July 8, 2021, the Company entered into a securities purchase agreement with a lender pursuant to which the Company sold a convertible note payable in the principal amount of $128,750 for net cash proceeds of $125,000, after the deduction of legal and due diligence fees. The convertible note is due one year from issuance, pays interest at the rate of 10% per annum, unless in default, upon which the interest rate would increase to 22% and the amount required to be paid to satisfy the obligation in full would increase to 150% of the sum of the principle, accrued interest and default interest depending upon the nature of the default. The convertible note gives the Company the right to prepay the note within the first 180 days from issuance at prepayment rates ranging from 110% to 125% of the then outstanding principal and interest balance. At any time during the period beginning 180 days from the origination date to the maturity date or date of default, the holder can convert all or any part of the outstanding balance into common stock at a conversion price per share equal to 65% of the lowest daily volume weighted average price of the Company’s common stock during the 10 trading days prior to the date of conversion. The Company evaluated the embedded conversion feature and concluded that it was required to be bifurcated and accounted for as a derivative liability due to the lack of explicit limit on the number of shares that may be required to be issued to settle the instrument. Accordingly, the fair value of the embedded conversion feature at inception was reflected as a derivative liability in the balance sheet at July 31, 2021, with a resulting discount applied to the note payable. At inception, the fair value of the conversion feature was deemed to be $50,507 as determined using a Stock Path Monte Carlo Simulation model. The key assumptions used in this valuation included: (1) dividend yield of 0%, (2) expected volatility of 100.00%, (3) risk-free interest rate of 0.07%, (4) expected life of 1 year, and (5) the quoted market price of $0.29 for our common stock. At July 31, 2021, the embedded conversion feature had a fair value of $50,630, resulting in the recognition of a loss on the value of the derivative of $123 in the statement of operations. The key assumptions used in this valuation included: (1) dividend yield of 0%, (2) expected volatility of 100.00%, (3) risk-free interest rate of 0.07%, (4) expected life of 0.94 year, and (5) the quoted market price of $0.21 for our common stock. A roll forward of the embedded conversion feature derivative liability for July 8, 2021, through July 31, 2021, is as follows: Schedule of Conversion Feature Derivative Liability Beginning balance, July 8, 2021 $ 50,507 Increase in fair value during period 123 Ending balance, July 31, 2021 $ 50,630 At inception, the convertible note had a debt discount of $50,507 which will be amortized to interest expense over the term of the note. The remaining debt discount at July 31, 2021, related to the convertible note was $47,324. SHORT-TERM NOTES PAYABLE On October 29, 2020, the Company issued a short-term unsecured promissory note to Daniel Crosser, who is an approximate 13% shareholder of the Company, for $100,000, with interest at 10% per annum. The note was scheduled to mature on April 29, 2021, with the principal balance outstanding, plus accrued but unpaid interest, being due and payable on the maturity date. On April 29, 2021, the maturity date of this note was extended to July 31, 2021. On July 31, 2021, the maturity date of this note was extended to November 30, 2021. On November 30, 2021, the maturity date of this note was extended to April 30, 2022. As of July 31, 2021, accrued interest related to the unsecured promissory note was $7,639. This note was paid in full on March 15, 2022. On November 10, 2020, the Company issued a short-term unsecured promissory note to Mr. Crosser, for $200,000, with interest at 5% per annum. The note was scheduled to mature on February 8, 2021, with the principal balance outstanding, plus accrued but unpaid interest, being due and payable on the maturity date. On February 8, 2021, the maturity date of this note was extended to June 30, 2021. On June 30, 2021, the maturity date of this note was extended to November 30, 2021. On November 30, 2021, the maturity date of this note was extended to April 30, 2022. As of July 31, 2021, accrued interest related to the unsecured promissory note was $7,264. As of the date of the filing of this Form 10-K this note is in default. On December 10, 2020, the Company issued a short-term unsecured promissory note to Mr. Crosser, for $160,000, with interest at 5% per annum. The proceeds under this promissory note were received by the Company in November 2020. The note was scheduled to mature on March 10, 2021, with the principal balance outstanding, plus accrued but unpaid interest, being due and payable on the maturity date. On February 26, 2021, the maturity date of this note was extended to June 30, 2021. On June 30, 2021, the maturity date of this note was extended to November 30, 2021. On November 30, 2021, the maturity date of this note was extended to April 30, 2022. As of July 31, 2021, accrued interest related to the unsecured promissory note was $5,540. As of the date of the filing of this Form 10-K this note is in default. On December 21, 2020, the Company issued a short-term promissory note to Mr. Crosser for $40,000, without interest, with a scheduled maturity date of January 31, 2021. On January 31, 2021, the maturity date of this note was extended to June 30, 2021. On June 30, 2021, the maturity date of this note was extended to November 30, 2021. On November 30, 2021, the maturity date of this note was extended to April 30, 2022. As of the date of the filing of this Form 10-K this note is in default. On December 23, 2020, the Company issued a short-term promissory note to John Morgan, a director of the Company, for $20,000, without interest. The note was repaid on January 7, 2021. Between December 15, 2020, and December 26, 2020, the Company’s subsidiary Mistress Movie LLC issued six short-term promissory notes to Cross Entertainment, LLC, an entity controlled by Michael Witherill, aggregating $170,000, without interest, with a scheduled maturity date of February 28, 2021. Mr. Witherill is the sole member and manager of Cross Entertainment, LLC, and is president and a director of the Company. As of January 31, 2021, $60,000 had been repaid and the remaining principal amount of $110,000 was due on these notes. On February 26, 2021, the maturity date of the $110,000 principal amount of the notes were extended to June 30, 2021. On June 30, 2021. the maturity date of the note was extended to June 30, 2022. As of the date of the filing of this Form 10-K the remaining principal balance of these notes is $86,679. On December 26, 2020, the Company issued a short-term promissory note to Cross Entertainment, LLC, for $110,000, without interest, with a scheduled maturity date of June 30, 2021. The Company received proceeds of $10,000 on this note through April 30, 2021. On January 31, 2021, the principal balance of the note dated January 7, 2021, of $85,000 was transferred to this note as described below. As of April 30, 2021, principal amount of $95,000 was due on this note. On June 30, 2021, the maturity date of this note was extended to December 31, 2021. The Company repaid this note in full on August 9, 2021. On January 5, 2021, the Company issued a short-term promissory note to Lawrence M. Silver, who is an approximate 11% shareholder of the Company, for $70,000, without interest, with a scheduled maturity date of January 31, 2021. On January 31, 2021, the maturity date of this note was extended to June 30, 2021. The Company repaid this note in full on May 5, 2021. On January 7, 2021, the Company issued a short-term promissory note to Cross Entertainment, LLC, for $145,000, without interest, with a scheduled maturity date of January 31, 2021. Proceeds on this note were $145,000, of which $60,000 was repaid and the balance of $85,000 was transferred a note dated December 26, 2020, as described above. As of July 31, 2021, the note was paid off. On January 29, 2021, the Company issued a short-term promissory note to Cross Entertainment, LLC, for $85,000, without interest, with a scheduled maturity date of February 28, 2021. On February 26, 2021, the maturity date of this note was extended to June 30, 2021. As of July 31, 2021, principal of $7,000 was due on this note. On June 30, 2021, the maturity date of this note was extended to August 31, 2021. The Company repaid this note in full on August 9, 2021. On February 11, 2021, the Company issued a short-term promissory note to Mr. Silver for $100,000, without interest, with a scheduled maturity date of June 30, 2021. The Company repaid $50,000 on this note on May 6, 2021. On June 30, 2021, the maturity date of this note was extended to November 30, 2021. On November 30, 2021, the maturity date of this note was extended to March 31, 2022. The Company repaid this note in full on February 8, 2022. On April 20, 2021, the Company issued a short-term promissory note to Cross Entertainment, LLC, for $1,500, without interest, with a scheduled maturity date of May 20, 2021. The note was repaid on April 21, 2021. On April 21, 2021, the Company issued a short-term unsecured promissory note to Mr. Crosser, for $15,000, with interest at 10% per annum. The note was scheduled to mature on May 21, 2021, with the principal balance outstanding, plus accrued but unpaid interest, being due and payable on the maturity date. On May 21, 2021, the maturity date of this note was extended to July 31, 2021. On July 31, 2021, the maturity date of this note was extended to November 30, 2021. On November 30, 2021, the maturity date of this note was extended to April 30, 2022. As of July 31, 2021, accrued interest related to the unsecured promissory note was $421. As of the date of the filing of this Form 10-K this note is in default. On May 3, 2021, the Company issued a short-term unsecured promissory note to Mr. Crosser, for $15,000, with interest at 10% per annum. The note was scheduled to mature on November 3, 2021, with the principal balance outstanding, plus accrued but unpaid interest, being due and payable on the maturity date. On July 31, 2021, the maturity date of this note was extended to November 3, 2021. On November 3, 2021, the maturity date of this note was extended to April 30, 2022. As of July 31, 2021, accrued interest related to the unsecured promissory note was $371. As of the date of the filing of this Form 10-K this note is in default. On May 6, 2021, the Company issued a short-term promissory note to Cross Entertainment, LLC, for $70,000, without interest, with a scheduled maturity date of July 31, 2021. On July 31, 2021, the maturity date of this note was extended to December 31, 2021. The note was repaid on September 22, 2021. On May 11, 2021, the Company issued a short-term promissory note to Cross Entertainment, LLC, for $25,000, without interest, with a scheduled maturity date of June 30, 2021. On June 30, 2021, the maturity date of the note was extended to December 31, 2021. The note was repaid on September 30, 2021. On May 12, 2021, the Company issued a short-term promissory note to Cross Entertainment, LLC, for $50,000, without interest, with a scheduled maturity date of June 30, 2021. On June 30, 2021, the maturity date of this note was extended to December 31, 2021. The note was repaid on September 22, 2021. On May 13, 2021, the Company issued a short-term promissory note to Cross Entertainment, LLC, for $13,000, without interest, with a scheduled maturity date of June 30, 2021. On June 30, 2021, the maturity date of this note was extended to December 31, 2021. The note was repaid on September 22, 2021. On May 28, 2021, the Company issued a short-term unsecured promissory note to Mr. Crosser, for $35,000, with interest at 10% per annum. The note was scheduled to mature on July 31, 2021, with the principal balance outstanding, plus accrued but unpaid interest, being due and payable on the maturity date. On July 31, 2021, the maturity date of the note was extended to November 30, 2021. On November 30, 2021, the maturity date of the note was extended to April 30, 2022. As of July 31, 2021, accrued interest related to the unsecured promissory note was $622. As of the date of the filing of this Form 10-K this note is in default. On June 2, 2021, the Company issued a short-term unsecured promissory note to Mr. Silver, for $90,933, with interest at 10% per annum. The note matures July 31, 2021, with the principal balance outstanding, plus accrued but unpaid interest, being due and payable on the maturity date. On July 31, 2021, the maturity date of the note was extended to October 31, 2021. The note was repaid October 19, 2021. As of July 31, 2021, accrued interest related to the unsecured promissory note was $1,490. On June 14, 2021, the Company issued a short-term unsecured promissory note to Mr. Crosser, for $25,000, with interest at 10% per annum. The note was scheduled to mature on July 31, 2021, with the principal balance outstanding, plus accrued but unpaid interest, being due and payable on the maturity date. On July 31, 2021, the maturity date of the note was extended to November 30, 2021. On November 30, 2021, the maturity date of the note was extended to April 30, 2022. As of July 31, 2021, accrued interest related to the unsecured promissory note was $326. As of the date of the filing of this Form 10-K this note is in default. On June 15, 2021, Mistress Movie LLC, a wholly owned subsidiary of Rivulet Films, issued a short-term unsecured promissory note to Michael Witherill, a related party, for $1,394, without interest, with a scheduled maturity date of December 31, 2021. On December 31, 2021, the maturity date, the note was extended to June 30, 2022. This note was paid in full on May 3, 2022. On June 15, 2021, and June 30, 2021, the Company executed Promissory Notes payable to Mark Williams, for $50,000 each. The notes were scheduled to mature on December 15, 2021, and December 30, 2021, respectively. Each of the notes is unsecured, bears interest at a rate of 10% per annum, and the unpaid balance may be accelerated upon an event of default thereunder. On December 15, 2021, and December 30, 2021, respectively, the maturity date of the notes was extended to March 31, 2022. On March 31, 2021, the maturity dates of the notes were extended to April 30, 2022. As of July 14, 2021, $10,000 has been paid on the note dated June 15, 2021. As of July 31, 2021, accrued interest related to the unsecured promissory notes was $1,022. As of the date of the filing of this Form 10-K this note is in default. On June 17, 2021, and June 18, 2021, Good News Productions, LLC, a wholly owned subsidiary of Rivulet Films, executed promissory notes payable to Mark Williams for $50,000 and $35,000, respectively. The notes were scheduled to mature on December 17, 2021, and December 18, 2021, respectively. Each of the notes is unsecured, bears interest at a rate of 10% per annum, and the unpaid balance may be accelerated upon an event of default thereunder. On December 17, 2021, and December 18,2021, respectively, the maturity dates of the notes was extended to March 31, 2022. On March 31, 2021, the maturity dates of the notes were extended to April 30, 2022. As of July 31, 2021, accrued interest related to the unsecured promissory note was $1,029. As of the date of the filing of this Form 10-K this note is in default. On June 29, 2021, PBP Productions LLC, a wholly owned subsidiary of Rivulet Films, issued a short-term unsecured promissory note to Michael Witherill, a related party, for $2,071, without interest, with a scheduled maturity date of December 31, 2021. On December 31, 2021, the maturity date of the note was extended to June 30, 2022. This note was paid in full on May 3, 2022. On June 30, 2021, Mistress Movie LLC, a wholly owned subsidiary of Rivulet Films, and Cross Entertainment, L.L.C. entered into five amendments to promissory notes. The amendments extend the maturity dates of promissory notes in the aggregate amount of $110,000 from June 30, 2021, to June 30, 2022. All other provisions of the promissory notes remain the same. On June 30, 2021, the Company issued a short-term promissory note to Aaron Klusman, a related party, for $40,000, without interest, with a scheduled maturity date of July 15, 2021. The note was repaid on July 13, 2021. On July 1, 2021, the Company executed a Promissory Note payable to Rachelle Strole, an individual, for $100,000, with a maturity date of July 9, 2021. The note is unsecured, bears no interest, accrue interest at a rate of 15% in the event of a default, and the unpaid principal and accrued interest may be accelerated upon an event of default thereunder. The note was repaid on July 22, 2021. On July 6, 2021, the Company executed a promissory note payable to Rachelle Strole, an individual, for $400,000. The note is unsecured, bears no interest, accrues interest at a rate of 15% in the event of a default, and the unpaid principal and accrued interest may be accelerated upon an event of default thereunder. The $400,000 note matured on July 31, 2021, and remains unpaid and, as a result, is currently in default. Ms. Strole filed suit against the Company on October 7, 2021, for the outstanding balance of this note. See Note 14. On July 15, 2021, the Company issued a short-term promissory note to Michael Witherill, a related party, for $9,138, without interest, with a scheduled maturity date of March 31, 2022. On November 23, 2021, the note was transferred to the multiple advance promissory noted dated November 23, 2021, as described in Note 14. On July 21, 2021, the Company issued a short-term promissory note to Aaron Klusman, a related party, for $40,000, without interest, with a scheduled maturity date of September 21, 2021. On September 21, 2021, the maturity date of the note was extended to February 28, 2022. On October 10, 2021, $15,000 of principle was repaid. On October 21, 2021, $15,000 of principle was repaid. The remaining balance of $10,000 was transferred to the multiple advance promissory noted dated November 23, 2021, as described in Note 14. On July 22, 2021, the Company issued a short-term promissory note to Michael Witherill, a related party, for $50,000, without interest, with a scheduled maturity date of February 28, 2022. On November 23, 2021, the note was transferred to the multiple advance promissory noted dated November 23, 2021, as described in Note 14. LONG-TERM NOTES PAYABLE On September 16, 2020, the Company issued a two-year unsecured convertible promissory note payable for $100,000, with interest at 5% per annum and maturing on September 15, 2022. The note was originally convertible into shares of common stock of the Company at $0.80 per share, which was above the closing market price of the Company’s common stock of $0.26 per share on September 16, 2020. This note was amended on December 15, 2020, to make it convertible into shares of common stock of the Company at $0.40 per share, which was below the closing market price of the Company’s common stock of $0.59 per share on December 15, 2020. As a result of the December 15, 2020, amendment to this convertible promissory note payable, the Company recognized a beneficial conversion feature on such date to recognize the difference between the closing market price of the common stock and the amended conversion price, which resulted in the Company recording a loss aggregating $48,010. If the closing price of the Company’s common stock reaches $0.60 per share or greater (decreased from $1.20 per share as part of the December 15, 2020, amendment to the note), the outstanding principal and all accrued interest on this note shall automatically convert into common stock at the specified conversion rate. As of July 31, 2021, accrued interest payable related to the unsecured convertible promissory note payable was $4,356. On October 26, 2020, Rivulet Films issued a multiple advance promissory note (the “Note”) to Mr. Silver, for $1,000,000, with interest at 10% per annum. The Note matures on October 6, 2022, with the principal balance outstanding, plus accrued but unpaid interest, being due and payable on the maturity date. The Note is secured by a first lien security interest on all of the assets of Rivulet Films (including its equity interest in PBP Productions LLC), personal guarantees of the Company’s officers, Michael Witherill and Aaron Klusman, and a corporate guarantee of the Company. Rivulet Films is required to use borrowings under the Note primarily to pay production costs associated with the movie production currently entitled “Please Baby Please.” Borrowings under this Note may be repaid at any time and reborrowed until the maturity date. Rivulet Films is required to apply any other funds received by it for the purpose of film financing and then any excess proceeds to pay any principal and interest owing under this Note. As of July 31, 2021, principal borrowings outstanding under the Note were $1,000,000, and related accrued interest was $77,722, which has been capitalized as project development costs (see Note 7). As of the date of the filing of this Form 10-K, the remaining principal balance of this note is $425,000 and this note is in default.

STOCKHOLDERS_ EQUITY (DEFICIENC

STOCKHOLDERS’ EQUITY (DEFICIENCY)	12 Months Ended
	Jul. 31, 2021
Equity [Abstract]
STOCKHOLDERS’ EQUITY (DEFICIENCY)	9. STOCKHOLDERS’ EQUITY (DEFICIENCY) Preferred Stock The Company is authorized to issue a total of 20,000,000 shares of preferred stock, par value $0.0001 per share. In conjunction with the reverse acquisition transaction (see Note 1), the Company recorded issued and outstanding preferred stock of Bio-Matrix consisting of 1,434 shares of Preferred Stock with a carrying value of $202 and 1,347 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, of which 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. During the period from February 11, 2020 (date of inception) through April 30, 2020, Rivulet Films entered into four common stock subscription agreements aggregating $700,000. Three of the subscription’s receivable aggregating $150,000 for 5,023,800 shares of common stock were paid in April 2020. The remaining $550,000 of subscriptions receivable from Blue Scout Enterprises LLC (“Blue Scout”), a related party, to purchase 11,000,000 shares of common stock was presented as a reduction to stockholders’ deficiency in the consolidated balance sheet at July 31, 2020. The $550,000 subscription receivable from Blue Scout dated February 11, 2020, for 11,000,000 shares of common stock is unsecured and provides for interest at 2% per annum, with interest and principal due on March 7, 2023. Interest income is being recognized on a cash basis as and when received by the Company. Interest income as of July 31, 2021, that had not been recognized by the Company was $14,971. On August 24, 2020, a principal payment of $17,400 was received with respect to the $550,000 common stock subscription receivable, as a result of which 348,000 shares of common stock were issued. On September 2, 2020, a principal payment of $20,000 was received with respect to the $550,000 common stock subscription receivable, as a result of which 400,000 shares of common stock were issued. On September 16, 2020, a principal payment of $30,000 was received with respect to the $550,000 common stock subscription receivable, as a result of which 600,000 shares of common stock were issued. On October 14, 2020, Blue Scout entered into assignment agreements with its respective LLC members to distribute such equity interests through note agreements secured by the underlying common shares, based on the original purchase price of $0.05 per share. As a result of this distribution of equity interests in the subscription receivable, a director of the Company and an employee of the Company received 1,000,000 shares and 400,000 shares, respectively. As of July 31, 2021, the remaining common stock subscription receivable was $482,600. On August 13, 2020, the Company sold 2,000,000 shares of common stock to an existing note holder and shareholder at $0.05 per share for total proceeds of $100,000. On August 26, 2020, the Company sold 1,200,000 shares of common stock to an existing note holder and shareholder at $0.05 per share for total proceeds of $60,000. On September 30, 2020, the Company sold 1,000,000 shares of common stock to an existing note holder and shareholder at $0.05 per share for total proceeds of $50,000. On September 30, 2020, the Company sold 1,000,000 shares of common stock to an unrelated party at $0.05 per share for total proceeds of $50,000. On October 8, 2020, the Company sold 2,000,000 shares of common stock to an existing note holder and shareholder at $0.05 per share for total proceeds of $100,000. On October 13, 2020, the Company sold 1,000,000 shares of common stock to an existing note holder and shareholder at $0.05 per share for total proceeds of $50,000. On October 15, 2020, the Company sold 5,000,000 shares of common stock to an existing note holder and shareholder at $0.05 per share for total proceeds of $250,000. On November 26, 2020, the Company sold 1,000,000 shares of common stock to a convertible promissory note holder at $0.10 per share for total proceeds of $100,000. On November 30, 2020, the Company sold an aggregate of 2,200,000 shares of common stock to two existing note holders and shareholders at $0.10 per share for total proceeds of $220,000. On December 3, 2020, the Company entered into a Subscription Agreement to sell 4,800,000 shares of common stock to an unrelated party at $0.10 per share for total proceeds of $480,000 which was received by the Company in late November and early December 2020. On December 22, 2020, the Company sold 250,000 shares of common stock to an unrelated party at $0.10 per share for total proceeds of $25,000. On January 21, 2021, the Company sold 2,000,000 shares of common stock to an unrelated party at $0.10 per share for total proceeds of $200,000. On January 29, 2021, the Company sold 1,000,000 shares of common stock to an unrelated party at $0.10 per share for total proceeds of $100,000. On February 24, 2021, the Company sold 1,000,000 shares of common stock to an existing shareholder at $0.10 per share for total proceeds of $100,000. On February 26, 2021, the Company sold 500,000 shares of common stock to an existing shareholder at $0.10 per share for total proceeds of $50,000. On March 11, 2021, the Company sold 3,000,000 shares of common stock to an existing shareholder at $0.10 per share for total proceeds of $300,000. On April 14, 2021, the Company sold 500,000 shares of common stock to an unrelated party at $0.10 per share for total proceeds of $50,000. On May 5, 2021, the Company sold 2,000,000 shares of common stock to an existing shareholder at $0.10 per share for total proceeds of $200,000. On May 14, 2021, the Company sold 250,000 shares of common stock to an existing shareholder at $0.10 per share for total proceeds of $25,000. On June 21, 2021, the Company sold 1,000,000 shares of common stock to an unrelated party at a price of $0.10 per share for total proceeds of $100,000. On June 22, 2021, the Company sold 1,000,000 shares of common stock to an unrelated party at a price of $0.10 per share for total proceeds of $100,000. On June 24, 2021, the Company sold 500,000 shares of common stock to an unrelated party at a price of $0.10 per share for total proceeds of $50,000. On July 14, 2021, the Company sold 3,000,000 shares of common stock to an existing shareholder at a price of $0.10 per share for total proceeds of $300,000. On July 22, 2021, the Company sold 1,000,000 shares of common stock to an unrelated party at a price of $0.10 per share for total proceeds of $100,000. On July 30, 2021, the Company sold 1,000,000 shares of common stock to an unrelated party at a price of $0.10 per share for total proceeds of $100,000. On July 30, 2021, the Company sold 50,000 shares of common stock to an unrelated party at a price of $0.10 per share for total proceeds of $5,000. Additional information with respect to shares of common stock issued is provided at Notes 1 and 6.

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	12 Months Ended
	Jul. 31, 2021
Stock-based Compensation
STOCK-BASED COMPENSATION	10. STOCK-BASED COMPENSATION On May 26, 2020, the Board of Directors of the Company approved and adopted the 2020 Equity Incentive Plan, with an aggregate of 16,000,000 shares issuable under the plan, with a ten-year expiration, and providing that options for no more than 10,000,000 shares be granted as Incentive Stock Options. As of July 31, 2021, stock options for 9,000,000 shares of common stock had been granted. For stock options issued during the year ended July 31, 2021, the fair value of each stock option award was estimated using the Black-Scholes option-pricing model utilizing the following assumptions: Schedule of Fair Value Assumption for Stock Option Risk-free interest rate 0.34% Expected dividend yield 0% Expected volatility 37.85% Expected life 5 years Stock-based compensation cost for the year ended July 31, 2021, was $88,956 and was recorded in general and administrative costs in the accompanying statements of operations. A summary of stock option activity during the years ended July 31, 2021 and 2020 is presented below. Schedule of Stock Option Activity Number of Weighted Weighted Stock options outstanding at February 11, 2020 — $ — — Granted 9,000,000 0.10 — Exercised — — — Expired — — — Stock options outstanding at July 31, 2020 9,000,000 0.10 — Granted — — — Exercised — — — Expired — — — Stock options outstanding at July 31, 2021 9,000,000 $ 0.10 3.09 Stock options exercisable at July 31, 2020 5,000,000 $ 0.10 — Stock options exercisable at July 31, 2021 7,000,000 $ 0.10 2.92 Total deferred compensation expense for the outstanding value of unvested stock options was approximately $27,799 as of July 31, 2021, which will be recognized subsequent to July 31, 2021, over a weighted-average period of approximately 1.25 years. The intrinsic value of exercisable but unexercised in-the-money stock options at July 31, 2021, was approximately $1,470,000 based on a fair market value of $0.21 per share on July 31, 2021. The Company expects to satisfy such stock obligations through the issuance of authorized but unissued shares of common stock.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Jul. 31, 2021
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	11. RELATED PARTY TRANSACTIONS During the year ended July 31, 2021, the Company paid producer fees to an officer of $25,000, which were accounted for as project development costs in the consolidated financial statements at July 31, 2021 (see Note 7). During the year ended July 31, 2021, the Company recorded revenues of $18,000 from a related party. Information with respect to the issuance of promissory notes to related parties is provided at Note 8. Information with respect to the collection of common stock subscriptions receivable from related parties is provided at Note 9. Information with respect to employee compensation is provided at Note 12.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Jul. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	12. COMMITMENTS AND CONTINGENCIES Lease Commitments On May 1, 2020, the Company entered into a short-term lease agreement with an unrelated party for office space in Gilbert, Arizona through December 31, 2020, at the rate of approximately $800 per month. On January 1, 2021, the Company renewed the short-term lease agreement for three months through March 31, 2021. On March 30, 2021, the Company extended the short-term lease agreement for six months through September 30, 2021, at the rate of approximately $1,400 per month. On September 30, 2021, the Company extended the short-term lease agreement through September 30, 2022, at the rate of $825 per month. On February 3, 2021, the Company entered into a short-term lease agreement for 2,716 square feet of office on a month-to-month basis. Through March 12, 2021, the cost was $5,000 per month, at which time the cost increased to $8,148 per month. The Company ended this month-to-month lease on October 31, 2021. During the year ended July 31, 2021, the Company charged $58,213 to general and administrative costs with respect to these lease agreements. Employment Agreements On May 27, 2020, the Company, and Paris Film, Inc., and Rob Paris (together, “Paris”) entered into an Employment Agreement (the “Paris Agreement”), pursuant which the Company agreed to employ Paris in the position of President of Rivulet Films, a subsidiary of the Company. The employment of Paris began on June 1, 2020, for a guaranteed term of six months, following which time the employment relationship may be terminated with or without good cause or for any reason or no reason by either the Paris or the Company. Paris was paid $10,000 per month commencing June 1, 2020, through November 30, 2020. Additionally, upon execution of the Paris Agreement, the Company issued stock options to purchase 9,000,000 shares of common stock at an exercise price of $0.10 per share, which was the fair market value of the Company’s common stock on such date, of which options for 5,000,000 shares vested on May 27, 2020, options for 2,000,000 shares vested on June 1, 2021, and the remaining options for 2,000,000 shares will vest on June 1, 2022. The fair value of these stock options, as calculated pursuant to the Black-Scholes option-pricing model, was determined to be $300,227 ($0.03336 per share), of which $166,793 was attributable to the stock options fully-vested on May 27, 2020, and was therefore charged to operations on that date. The remaining unvested portion of the fair value of the stock options is being charged to operations ratably from May 27, 2020, through June 1, 2022. During the year ended July 31, 2021, the Company recorded a charge to operations of $88,956 with respect to stock options issued pursuant to the Paris Agreement. During the year ended July 31, 2021, the Company recorded a charge to operations of $145,000 with respect to the cash portion of the Paris Agreement, which was charged to general and administrative costs. The Paris Agreement was amended effective March 1, 2021, to increase Paris’ salary to $15,000 per month. On August 12, 2020, the Company, and Michael J. Witherill entered into an Employment Agreement with respect to his positions as President, Chief Financial Officer, Principal Accounting Officer, and a member of the Board of Directors of the Company. Mr. Witherill receives an annual salary of $360,000, payable in accordance with the Company’s standard payroll practices, provided that such amount may be deferred as determined by Mr. Witherill or the Board of Directors as needed to cover other Company expenses and provided further that Mr. Witherill is permitted to serve as a director of not-for-profit and for-profit businesses that do not compete with the Company. The Employment Agreement was amended on January 26, 2021, to additionally allow Mr. Witherill to serve as an officer and director of Chee Corp. During the year ended July 31, 2021, the Company recorded a charge to operations of $360,000 with respect to this Employment Agreement, which was charged to general and administrative costs. Mr. Witherill resigned from his position as Chief Financial Officer of the Company effective October 26, 2021. On August 14, 2020, the Company and Aaron Klusman entered into an Employment Agreement with respect to his positions as Chief Executive Officer and a member of the Board of Directors of the Company. Mr. Klusman receives an annual salary of $360,000, payable in accordance with the Company’s standard payroll practices, provided that such amount may be deferred as determined by Mr. Klusman or the Board of Directors as needed to cover other Company expenses, and provided further that Mr. Klusman is permitted to purchase, sell, oversee, manage, and develop real estate properties and projects; and serve as a director of not for profit and for profit businesses that do not compete with the Company. Mr. Klusman also serves as an officer and director of Chee Corp. During the year ended July 31, 2021, the Company recorded a charge to operations of $360,000 with respect to this Employment Agreement, which was charged to general and administrative costs. As of July 31, 2021, Mr., Klusman has deferred $484,670 of his salary. The employment of the Executives under the Employment Agreements commenced effective April 1, 2020, and will continue for two years, subject to successive one-year renewals. Each Executive is an “at-will” employee. Either the Executive or the Company may terminate his employment with or without cause, for any reason or no reason, and at any time. The Executives are each subject to standard confidentiality provisions and a non-compete, non-solicitation covenant for a one-year period following termination of employment. 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, which are not expected to have a material adverse effect upon the Company’s financial statements. As of July 31, 2021, the Company was not a party to any pending or threatened legal proceedings. Impact of Novel Coronavirus (COVID-19) on the Company’s Business Operations The global outbreak of COVID-19 and its variants 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 and its variants 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, the emergence of additional variants, its severity and longevity, the actions to curtail the virus and treat its impact, and how quickly and to what extent normal economic and operating conditions can resume. Although the COVID-19 outbreak appears to be subsiding, 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 if there is a significant resurgence of COVID-19 cases. There is also significant uncertainty as to the effect that the coronavirus may have on the amount and type of financing available to the Company in the future. The Company intends to continue to monitor the situation and may adjust its current business plans as more information and guidance become available.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Jul. 31, 2021
Income Tax Disclosure [Abstract]
INCOME TAXES	13. INCOME TAXES Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the Company’s deferred tax assets as of July 31, 2021 are summarized below. Schedule of Deferred Tax Assets Federal State Arizona Net Operating Loss Carryforward $ 555,578 $ 129,635 Valuation Allowance (555,578 ) (129,635 ) Net deferred tax assets $ 0 $ 0 In assessing the potential realization of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will be realized. The ultimate realization of deferred tax assets is dependent upon the Company attaining future taxable income during the periods in which those temporary differences become deductible. As of July 31, 2021, management was unable to determine if it is more likely than not that the Company’s deferred tax assets will be realized and has therefore recorded an appropriate valuation allowance against deferred tax assets at such dates. No federal or state tax provision has been provided for the period from August 1, 2020, through July 31, 2021, due to the losses incurred during such periods. The reconciliation below presents the difference between the income tax rate computed by applying the U.S. federal and state statutory rates and the effective tax rate for the period from August 1, 2020, through July 31, 2021. Schedule of Effective Income Tax rates Federal State (Arizona) Statutory Tax Rate (21 )% (4.90 )% Change in valuation allowance 21 % 4.90 % Effective tax rate 0 0 At July 31, 2021, the Company has available net operating loss carryforwards for federal income tax purposes of approximately $555,578 and for state income tax purposes of approximately $129,635. Federal net operating losses, if not utilized earlier, expire through 2041. The state net operating losses expire through 2026. Additionally, at July 31, 2020, the Company had available net operating loss carryforwards for federal income tax purposes which were acquired from the accounting acquiree in connection with the reverse acquisition transaction. Under Internal Revenue Code Section 382, the Company’s ability to use these net operating loss carryforwards is severely limited because of statutory change in control provisions, as a result of which they are not material and are therefore not included in the deferred tax assets described herein. As the Company’s net operating losses have yet to be utilized, all tax years remain open to examination by federal authorities and other jurisdictions in which the Company currently operates or has operated in the past.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Jul. 31, 2021
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	14. SUBSEQUENT EVENTS The Company performed an evaluation of subsequent events through the date of filing of these consolidated financial statements with the SEC. 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. Default of Promissory Note Payable On July 6, 2021, the Company executed Promissory Notes payable to Rachelle Strole, an individual, pursuant to which the Company borrowed $400,000. The note is unsecured with no stated interest and matured on July 31, 2021 and was unpaid (and remains unpaid as of the date of the filing of this Form 10-K). As a result, the Company received official notice of the default on the Note on September 2, 2021, with a demand for payment of all principal and accrued interest. On September 14, 2021, a lawsuit was filed asking for a judgement against the Company for all amounts due, and on December 13, 2021, a default judgement was granted. Default of Convertible Note Payable On July 8, 2021, August 2, 2021, and September 7, 2021, the Company executed three Convertible Promissory Notes (the “Geneva Notes”), respectively, payable to Geneva Roth Remark Holdings, Inc. (“Geneva Roth”), pursuant to which the Company borrowed $128,750, $55,000, and $43,750, respectively. One of the Events of Default as defined in the Geneva Notes is failure to comply with the reporting requirements of the Securities Exchange Act of 1934 (“Exchange Act”). On October 30, 2021, the Company failed to file its annual report on Form 10-K for the fiscal year ended July 31, 2021, creating an event of default, as defined in the convertible note. Under the terms of the Geneva Notes, Geneva Roth must provide the Company with a formal notice of default and once a notice of default is received by the Company, the Company has twenty days to cure the default by becoming current on its filing requirements. On December 14, 2021, the Company received notice from Geneva Roth declaring the Company to be in default under the Geneva Notes for failing to comply with the reporting requirements of the Exchange Act. Therefore, on January 3, 2022, following the expiration of the 20-day cure period, the Geneva Notes became in default, triggering acceleration and an obligation to pay the Default Sum, as defined thereunder. On February 8, 2022, Rivulet Media, Inc. entered into a Settlement Agreement with Geneva Roth, to settle and resolve the Company’s obligations with respect to three Convertible Promissory Notes executed by the Company and payable to Geneva Roth dated July 8, 2021, August 2, 2021, and September 7, 2021, respectively (the “Notes”). The Company was in default under the Notes. Under the terms of the Settlement Agreement, the Company would pay an aggregate amount of $386,533 to Geneva Roth, which would constitute payment in full under the Notes. Payments were to be made in weekly installments, with the first 12 payments in the amount of $30,000 each and a final payment in the amount of $26,533. The first payment was paid on February 11, 2022, and the Company paid $270,000 towards the outstanding balance as of April 24, 2022. On April 19, 2022, the Company and Geneva Roth amended the Settlement Agreement to provide that Geneva Roth would accept $80,000 as full payment of the remaining amount due under the Settlement Agreement. On April 25, 2022, the Company made a one-time payment of $50,000, and on April 27, 2022, the Company and Geneva Roth entered into a Mutual Release and Agreement, whereby the parties agreed that this $50,000 payment constituted full satisfaction of the Notes. Appointment of Interim CFO On October 26, 2021, Michael Witherill resigned from his position of Chief Financial Officer of the Company and Rick Gean was appointed Interim Chief Financial Officer of the Company, to hold office until July 31, 2022, or until his successor has been duly elected and qualified. Mr. Gean served as a consultant to the Company from July 2021 to October 25, 2021. Sale of Marketable Securities On September 27, 2021, the Company and Michael Witherill entered into a Stock Sale Agreement and a Loan Agreement and Promissory Note. Pursuant to such agreements, the Company sold 29,076,665 shares of common stock symbol RGPB) and 2,907,666 shares of Series A Preferred Stock of Regen BioPharma, Inc. (“Regen”) to Mr. Witherill. Pursuant to these agreements, Mr. Witherill intended to resell the Regen shares on the open market and remit the proceeds received from such sales to the Company as full payment for the shares. Mr. Witherill successfully sold all of the shares of Regen Series A Preferred Stock for total proceeds to the Company of $201,400. On November 8, 2021, the foregoing agreements were terminated, and the Regen common stock was transferred back to the Company. Mr. Witherill is president and a director of the Company. On November 8, 2021, the Company and Michael Witherill entered into a Termination Agreement, whereby they agreed to terminate the Stock Sale Agreement and Loan Agreement and Promissory Note dated September 27, 2021 and disclosed above. Mr. Witherill successfully sold the Regen Series A Preferred Stock on the open market and remitted the cash proceeds from such sales to the Company but was unable to resell of the Regen common stock, and as a result the parties decided to terminate such agreements. Following the termination, Mr. Witherill transferred the Regen common stock back to the Company, and the Company entered into agreements with Damian Larson with respect to the Regen common stock. There were no early termination penalties. Mr. Witherill is president and a director of the Company On November 9, 2021, the Company and Damian Larson entered into a Stock Sale Agreement and a Loan Agreement and Promissory Note. Pursuant to these agreements, the Company consigned, in an arms-length transaction, the 29,076,665 shares of Regen common stock to Mr. Larson. Mr. Larson is using his best efforts to affect a resale of the shares on the open market and remit the cash proceeds received from such sales to the Company as full payment for the shares, less a fee of up to $10,000. During October 2021, the Company sold all its 2,907,666 shares of Regen BioPharma preferred stock included in Marketable Securities. The average sales price of the sales was $0.06878 per share, for total proceeds received by the Company of approximately $200,000. During February 2022, the Company sold all its 29,076,665 shares of Regen BioPharma common stock included in Marketable Securities. The average sales price of the sales was $0.01001 per share, for total proceeds received by the Company of approximately $291,000. Short Term Note Receivable On May 3, 2022, the Company advanced the amount of $50,000 to Built By Gamers, LLC, (“BBG”) a company in the gaming industry that is an acquisition target of the Company. Repayment of this amount was evidenced by a promissory note executed by BBG and payable to the Company. The note matures on August 2, 2022, is unsecured, bears interest at a rate of 5% per annum, and the unpaid principal and interest may be accelerated upon an event of default as defined thereunder. The amount advanced is to be used by BBG for working capital during the Company’s due diligence period. Sale of Common Stock On August 6, 2021, the Company sold 500,000 shares of common stock at a price of $0.10 per share for total proceeds of $50,000. On August 17, 2021, the Company sold 500,000 shares of common stock at a price of $0.10 per share for total proceeds of $50,000. On August 18, 2021, the Company sold 1,000,000 shares of common stock at a price of $0.10 per share for total proceeds of $100,000. On September 2, 2021, the Company sold 1,500,000 shares of common stock at a price of $0.10 per share for total proceeds of $150,000. On September 3, 2021, the Company sold 400,000 shares of common stock at a price of $0.10 per share for total proceeds of $40,000. On October 15, 2021, the Company sold 500,000 shares of common stock at a price of $0.10 per share for total proceeds of $50,000. On October 19, 2021, the Company sold 625,000 shares of common stock at a price of $0.10 per share for total proceeds of $62,500. On December 3, 2021, the Company sold 200,000 shares of common stock at a price of $0.10 per share for total proceeds of $20,000. On December 6, 2021, the Company sold 250,000 shares of common stock at a price of $0.10 per share for total proceeds of $25,000. On December 16, 2021, the Company sold 250,000 shares of common stock at a price of $0.10 per share for total proceeds of $25,000. On December 17, 2021, the Company sold 600,000 shares of common stock at a price of $0.10 per share for total proceeds of $60,000. On December 20, 2021, the Company sold 500,000 shares of common stock at a price of $0.10 per share for total proceeds of $50,000. On January 21, 2022, the Company sold 1,150,000 shares of common stock at a price of $0.10 per share for total proceeds of $115,000. On May 5, 2022 the Company sold 500,000 shares of common stock at a price of $0.10 per share for total proceeds of $50,000. Issuance of Promissory Notes On August 2, 2021, Good News Productions, LLC executed a promissory note payable to Mike Witherill, pursuant to which the Company borrowed $45,000. The note is scheduled to mature on February 28, 2022. On February 28, 2022, the maturity date of the note was extended to June 30, 2022. On August 6, 2021, the Company executed a promissory note to Mr. Crosser, pursuant to which the Company borrowed $100,000. The note matures on January 31, 2022. On January 31, 2022, the maturity date of the note was extended to March 31, 2022. The note is unsecured, bears interest at a rate of 10% per annum, and the unpaid balance may be accelerated upon an event of default thereunder. As of the date of the filing of this Form 10-K this note is in default. On August 11, 2021, the Company issued a short-term promissory note to Michael Witherill, a related party, for $50,000, without interest, with a scheduled maturity date of November 11, 2021. On November 23, 2021, the note was transferred to the multiple advance promissory noted dated November 23, 2021, see note as described below. On August 11, 2021, the Company executed a promissory note payable to Jennifer Farrell, pursuant to which the Company borrowed $100,000. The note was scheduled to mature on January 31, 2022, is unsecured, bears interest at a rate of 10% per annum, and the unpaid balance may be accelerated upon an event of default thereunder. On January 31, 2022, the maturity date of the note was extended to March 31, 2022. As of the date of the filing of this Form 10-K this note is in default. On August 12, 2021, and October 7, 2021, Rivulet Films LLC, executed promissory notes payable to Mr. Witherill, pursuant to which Rivulet Films borrowed $2,000 and $3,489, respectively. The notes are scheduled to mature on February 28, 2022, and March 31, 2022, respectively. Each of these notes is unsecured, bears interest at a rate of 0% per annum, and the unpaid balance may be accelerated upon an event of default thereunder. On February 28, 2022, the maturity date of the $2,000 promissory note was extended to June 30, 2022. These notes were paid in full on May 3, 2022. On August 12, 2021, the Company issued a short-term promissory note to Michael Witherill, a related party, for $8,000, without interest, with a scheduled maturity date of November 19, 2021. On November 23, 2021, the note was transferred to the multiple advance promissory noted dated November 23, 2021, see note as described below. On August 13, 2021, the Company issued a short-term promissory note to Michael Witherill, a related party, for $8,000, without interest, with a scheduled maturity date of November 19, 2021. On November 23, 2021, the note was transferred to the multiple advance promissory noted dated November 23, 2021, see note as described below. On August 13, 2021, the Company executed a promissory note payable to Lawrence Silver, pursuant to which the Company borrowed $52,010. The note is unsecured, bears no interest, and the unpaid balance may be accelerated upon an event of default thereunder. The note was scheduled to mature on September 30, 2021, and was fully repaid on September 21, 2021. On August 16, 2021, the Company issued a short-term promissory note to Aaron Klusman, a related party, for $50,000, without interest, with a scheduled maturity date of November 19, 2021. On November 19, 2021, the maturity date of the note was extended to October 31, 2022. On November 23, 2021, the note was transferred to the multiple advance promissory noted dated November 23, 2021, see note as described below. On August 16, 2021, the Company issued a short-term promissory note to Michael Witherill, a related party, for $5,500, without interest, with a scheduled maturity date of November 16, 2022. On November 23, 2021, the note was transferred to the multiple advance promissory noted dated November 23, 2021, see note as described below. On August 16, 2021, the Company issued a short-term promissory note to Michael Witherill, a related party, for $50,000, without interest, with a scheduled maturity date of February 28, 2022. On November 23, 2021, the note was transferred to the multiple advance promissory noted dated November 23, 2021, see note as described below. On August 19, 2021, the Company issued a short-term promissory note to Aaron Klusman, a related party, for $54,000, without interest, with a scheduled maturity date of November 19, 2021. On November 19, 2021, the maturity date of the note was extended to October 31, 2022. On November 23, 2021, the note was transferred to the multiple advance promissory noted dated November 23, 2021, see note as described below. On August 20, 2021, the Company executed a promissory note to Mr. Crosser, pursuant to which the Company borrowed $60,000. The note matures on February 28, 2022. On February 28, 2022, the maturity date of the note was extended to April 30, 2022. The note is unsecured, bears interest at a rate of 10% per annum, and the unpaid balance may be accelerated upon an event of default thereunder. As of the date of the filing of this Form 10-K this note is in default. On August 24, 2021, the Company issued a short-term promissory note to Michael Witherill, a related party, for $40,000, without interest, with a scheduled maturity date of February 28, 2022. On November 23, 2021, the note was transferred to the multiple advance promissory noted dated November 23, 2021, see note as described below. On August 30, 2021, the Company issued a short-term promissory note to Michael Witherill, a related party, for $19,000, without interest, with a scheduled maturity date of February 28, 2022. On November 23, 2021, the note was transferred to the multiple advance promissory noted dated November 23, 2021, see note as described below. On September 3, 2021, the Company issued a short-term promissory note to Aaron Klusman, a related party, for $4,500, without interest, with a scheduled maturity date of March 3, 2022. On November 23, 2021, the note was transferred to the multiple advance promissory noted dated November 23, 2021, see note as described below. On September 13, 2021, the Company issued a short-term promissory note to Michael Witherill, a related party, for $1,000, without interest, with a scheduled maturity date of February 28, 2022. On November 23, 2021, the note was transferred to the multiple advance promissory noted dated November 23, 2021, see note as described below. On September 13, 2021, the Company executed a promissory note to Mr. Crosser, pursuant to which the Company borrowed $25,000. The note matures on March 31, 2022. The note is unsecured, bears interest at a rate of 10% per annum, and the unpaid balance may be accelerated upon an event of default thereunder. As of the date of the filing of this Form 10-K this note is in default. On September 16, 2021, the Company issued a short-term promissory note to Aaron Klusman, a related party, for $10,540, without interest, with a scheduled maturity date of March 16, 2022. On November 23, 2021, the note was transferred to the multiple advance promissory noted dated November 23, 2021, see note as described below. On September 16, 2021, Rivulet Films (“Films”), a wholly owned subsidiary of the Company, executed a Commercial Loan Agreement, a Collateral Security Agreement, and a Negotiable Secured Promissory Note payable to Topps, LLC, pursuant to which Films borrowed $600,000. The note is scheduled to mature on September 16, 2022. Under the terms of the note, Films paid a consulting fee to IPCC, LLC of $30,000, as well as $6,000 in attorney fees and prepaid 12 months of interest at 19%, in the aggregate amount of $114,000. The net proceeds paid to Films were $450,000. The note is secured by the assignment of certain rights to the films “Please Baby Please” and “Mistress,” pursuant to the Collateral Security Agreement. A security interest on all of Films assets, which includes its interest in these films, was previously granted to a different lender under a separate note and security agreement in October 2020, and so this security interest is junior to the previous one granted. This promissory note is also secured by a personal guarantee from Michael Witherill and Debbie Rasmussen, wife of Mr. Witherill. On September 20, 2021, the Company issued a short-term promissory note to Michael Witherill, a related party, for $7,879, without interest, with a scheduled maturity date of February 28, 2022. On November 23, 2021, the note was transferred to the multiple advance promissory noted dated November 23, 2021, see note as described below. On September 30, 2021, the Company issued a short-term promissory note to Michael Witherill, a related party, for $1,990, without interest, with a scheduled maturity date of February 28, 2022. On November 23, 2021, the note was transferred to the multiple advance promissory noted dated November 23, 2021, see note as described below. On October 4, 2021, the Company issued a short-term promissory note to Michael Witherill, a related party, for $1,316, without interest, with a scheduled maturity date of February 28, 2022. On November 23, 2021, the note was transferred to the multiple advance promissory noted dated November 23, 2021, see note as described below. On October 4, 2021, the Company issued a short-term promissory note to Aaron Klusman, a related party, for $15,000, without interest, with a scheduled maturity date of March 31, 2022. On November 23, 2021, the note was transferred to the multiple advance promissory noted dated November 23, 2021, see note as described below. On October 7, 2021, the Company executed a Promissory Note payable to John Morgan, a related party, pursuant to which the Company borrowed $50,000. The note was scheduled to mature on November 7, 2021, is unsecured, bears interest at a rate of 10% per annum, and the unpaid balance may be accelerated upon an event of default thereunder. On November 7, 2021, the maturity date of the note was extended to April 30, 2022. On October 7, 2021, Maughan Music Group, LLC, a wholly owned subsidiary of the Company, issued a short-term unsecured promissory note to Michael Witherill, a related party for $600, without interest, with a scheduled maturity date of March 31, 2022. This note was paid in full on May 3, 2022. On October 12, 2021, the Company issued a short-term promissory note to Michael Witherill, a related party, for $5,000, without interest, with a scheduled maturity date of February 28, 2022. On November 23, 2021, the note was transferred to the multiple advance promissory noted dated November 23, 2021, see note as described below. On November 5, 2021, the Company issued a short-term promissory note to Aaron Klusman, a related party, for $12,500, without interest, with a scheduled maturity date of April 30, 2022. On November 23, 2021, the note was transferred to the multiple advance promissory noted dated November 23, 2021, see note as described below. On November 16, 2021, the Company issued a short-term promissory note to Aaron Klusman, a related party, for $22,000, without interest, with a scheduled maturity date of April 30, 2022. On November 23, 2021, the note was transferred to the multiple advance promissory noted dated November 23, 2021, see note as described below. On November 22, 2021, Michael Witherill, a related party, advanced the Company $1,600. On November 23, 2021, the advance was transferred to the multiple advance promissory noted dated November 23, 2021, see note as described below. On November 23, 2021, the Company and Michael Witherill entered into a Multiple Advance Promissory Note, pursuant to which the Company may borrow up to an aggregate of $300,000 from time to time. This note consolidated and replaced multiple individual Promissory Notes previously executed by the Company and payable to Mr. Witherill with an aggregate outstanding balance of $201,170. The note matures on October 31, 2022, is unsecured, bears no interest, and the unpaid balance may be accelerated upon an event of default thereunder. Mr. Witherill is president and a director of the Company. As of the date of the filing of this Form 10-K, the balance due Mr. Witherill under this Note is $0. On November 23, 2021, the Company and Aaron Klusman entered into a Multiple Advance Promissory Note, pursuant to which the Company may borrow up to an aggregate of $250,000 from time to time. This note consolidated and replaced multiple individual Promissory Notes previously executed by the Company and payable to Mr. Klusman with an aggregate outstanding balance of $178,540. On April 20, 2022, the borrowing capacity under this Note was increased to $1,000,000. The note matures on October 31, 2022, is unsecured, bears no interest, and the unpaid balance may be accelerated upon an event of default thereunder. Mr. Klusman is CEO and a director of the Company. As of the date of the filing of this Form 10-K the balance due Mr. Klusman under this Note is $640,040. On November 24, 2021, the Company issued a short-term promissory note to Michael Witherill, a related party, for $7,263, without interest, with a scheduled maturity date of October 31, 2022. The note was transferred to the multiple advance promissory noted dated November 23, 2021, see note as described above. On December 1, 2021, the Company issued a short-term promissory note to Michael Witherill, a related party, for $16,751, without interest, with a scheduled maturity date of October 31, 2022. The note was transferred to the multiple advance promissory noted dated November 23, 2021, see note as described below, see note as described above. On December 6, 2021, the Company issued a short-term promissory note to Michael Witherill, a related party, for $3,000, without interest, with a scheduled maturity date of October 31, 2022. The note was transferred to the multiple advance promissory noted dated November 23, 2021, see note as described above. On December 9, 2021, the Company issued a short-term promissory note to Michael Witherill, a related party, for $60, without interest, with a scheduled maturity date of October 31, 2022. The note was transferred to the multiple advance promissory noted dated November 23, 2021, see note as described above. On December 9, 2021, the Company issued a short-term promissory note to Aaron Klusman, a related party, for $15,000, without interest, with a scheduled maturity date of October 31, 2022. The note was transferred to the multiple advance promissory noted dated November 23, 2021, see note as described above. On December 14, 2021, the Company issued a short-term promissory note to Michael Witherill, a related party, for $470, without interest, with a scheduled maturity date of October 31, 2022. The note was transferred to the multiple advance promissory noted dated November 23, 2021, see note as described above. On December 16, 2021, the Company issued a short-term promissory note to Michael Witherill, a related party, for $210, without interest, with a scheduled maturity date of October 31, 2022. The note was transferred to the multiple advance promissory noted dated November 23, 2021, see note as described above. On December 16, 2021, the Company executed a Promissory Note payable to John Morgan, a related party, pursuant to which the Company borrowed $10,000. The note is scheduled to mature on June 30, 2022, is unsecured, bears interest at a rate of 10% per annum, and the unpaid balance may be accelerated upon an event of default thereunder. On December 17, 2021, the Company executed a Promissory Note payable to John Morgan, a related party, pursuant to which the Company borrowed $15,000. The note is scheduled to mature on June 30, 2022, is unsecured, bears interest at a rate of 10% per annum, and the unpaid balance may be accelerated upon an event of default thereunder. On January 13, 2022, the Company issued a short-term unsecured promissory note to Daniel Crosser, who is an approximate 13% shareholder of the Company, for $30,000, with interest at 10% per annum. The note is scheduled to mature on June 30, 2022, with the principal balance outstanding, plus accrued but unpaid interest, being due and payable on the maturity date. On January 13, 2022, the Company issued a short-term unsecured promissory note to Pingu Inv, for $40,000, with interest at 10% annum. The note is scheduled to mature March 31, 2022, with the principal balance outstanding, plus accrued but unpaid interest, being due and payable on the maturity date. As of the date of the filing of this Form 10-K this note is in default. On January 14, 2022, the Company issued a short-term unsecured promissory note the Steve and Ann Wheeler Trust, for $75,000, with interest at 10% annum. The note is scheduled to mature June 30, 2022, with the principal balance outstanding, plus accrued but unpaid interest, being due and payable on the maturity date. On January 26, 2022, the Company issued a short-term secured promissory note to the Steve and Ann Wheeler Trust, for $75,000. The note is secured by proceeds from the sale of marketable securities held by the company as of the date of the note. The note is scheduled to mature March 31, 2022, with a payment due equal to the sum of the principal balance plus accrued interest at 10% per annum, multiplied by 137.5%. As of the date of the filing of this Form 10-K this note is in default. On January 26, 2022, the Company issued a short-term secured promissory note to the AZP Trust, for $200,000. The note is secured by proceeds from the sale of marketable securities held by the company as of the date of the note. The note is scheduled to mature March 31, 2022, with a payment due equal to the sum of the principal balance plus accrued interest at 10% per annum. On February 18, 2022, the Company amended and replaced this note dated January 26, 2022, agreeing to pay the AZP Trust the outstanding principal balance of this promissory note plus interest in the amount of $100,000, for an aggregate payment of $300,000. As of the date of the filing of this Form 10-K this note is in default. On February 7, 2022, Good News Productions, LLC executed a promissory note payable to MJW Capital Partners, LLC, a related party, pursuant to which the Company borrowed $500,000, with interest at 12% annum. The note is scheduled to mature on February 7, 2023. On March 11, 2022, the Company issued a short-term unsecured promissory note to Mr. Crosser, for $30,000, with interest at 10% per annum. The note is scheduled to mature on June 30, 2022, with the principal balance outstanding, plus accrued but unpaid interest, being due and payable on the maturity date. On March 14, 2022, Good News Productions, LLC executed a promissory note payable to MJW Capital Partners, LLC, a related party, pursuant to which the Company borrowed $500,000, with interest at 12% annum. The note is scheduled to mature on March 14, 2023. On March 21, 2022, the Company issued a short-term unsecured promissory note to Mr. Crosser, for $50,000, with interest at 10% per annum. The note is scheduled to mature on June 30, 2022, with the principal balance outstanding, plus accrued but unpaid interest, being due and payable on the maturity date. On March 22, 2022, the Company issued a short-term unsecured promissory note to Mr. Crosser, for $50,000, with interest at 10% per annum. The note is scheduled to mature on June 30, 2022, with the principal balance outstanding, plus accrued but unpaid interest, being due and payable on the maturity date. On March 22, 2022, Michael Witherill advanced the Company $14,000 under the terms of the Multiple Advance Promissory Note dated November 23, 2021 (the “MAPN”), in favor of Michael Witherill, a related party. The MAPN bears no interest and has a scheduled maturity date of October 31, 2022. On March 25, 2022, Aaron Klusman advanced the Company $30,000 under the terms of the Multiple Advance Promissory Note dated November 23, 2021, in favor of Aaron Klusman, a related party. The MAPN bears no interest and has a scheduled maturity date of October 31, 2022. On March 30, 2022, Michael Witherill advanced the Company $500 under the terms of the Multiple Advance Promissory Note dated November 23, 2021, in favor of Michael Witherill, a related party. The MAPN bears no interest and has a scheduled maturity date of October 31, 2022. On April 1, 2022, Michael Witherill advanced the Company advanced $43,000 under the terms of the Multiple Advance Promissory Note dated November 23, 2021, in favor of Michael Witherill, a related party. The MAPN bears no interest and has a scheduled maturity date of October 31, 2022. On April 7, 2022, Michael Witherill advanced the Company $5,000 under the terms of the Multiple Advance Promissory Note dated November 23, 2021, in favor of Michael Witherill, a related party. The MAPN bears no interest and has a scheduled maturity date of October 31, 2022. On April 8, 2022, Michael Witherill advanced the Company $2,500 under the terms of the Multiple Advance Promissory Note dated November 23, 2021, in favor of Michael Witherill, a related party. The MAPN bears no interest and has a scheduled maturity date of October 31, 2022. On April 8, 2022, Aaron Klusman advanced the Company $15,000 under the terms of the Multiple Advance Promissory Note dated November 23, 2021, in favor of Aaron Klusman, a related party. The MAPN bears no interest and has a scheduled maturity date of October 31, 2022. On April 11, 2022, Aaron Klusman advanced the Company $56,500 under the terms of the Multiple Advance Promissory Note dated November 23, 2021, in favor of Aaron Klusman, a related party. The MAPN bears no interest and has a scheduled maturity date of October 31, 2022. On April 19, 2022, Michael Witherill advanced $3,500 to Maughan Music Group, LLC, a wholly owned subsidiary of the Company. Maughan Music Group, LLC issued a short-term unsecured promissory note to Michael Witherill, a related party, bearing no interest, with a scheduled maturity date of October 31, 2022. This note was paid in full on May 3, 2022. On April 20, 2022, Aaron Klusman advanced the Company $25,000 under the terms of the Multiple Advance Promissory Note dated November 23, 2021, in favor of Aaron Klusman, a related party. The MAPN bears no interest and has a scheduled maturity date of October 31, 2022. On April 21, 2022, Aaron Klusman advanced the Company $60,000 under the terms of the Multiple Advance Promissory Note dated November 23, 2021, and amended April 20, 2022, in favor of Aaron Klusman, a related party. The MAPN bears no interest, and has a scheduled maturity date of October 31, 2022. On April 23, 2022, Aaron Klusman advanced the Company $50,000 under the terms of the Multiple Advance Promissory Note dated November 23, 2021 and amended April 20, 2022, in favor of Aaron Klusman, a related party. The MAPN bears no interest and has a scheduled maturity date of October 31, 2022. On April 26, 2022, Aaron Klusman advanced the Company $50,000 under the terms of the Multiple Advance Promissory Note dated November 23, 2021 and amended April 20, 2022, in favor of Aaron Klusman, a related party. The MAPN bears no interest and has a scheduled maturity date of October 31, 2022. On April 28, 2022, Aaron Klusman advanced the Company $50,000 under the terms of the Multiple Advance Promissory Note dated November 23, 2021 and amended April 20, 2022, in favor of Aaron Klusman, a related party. The MAPN bears no interest and has a scheduled maturity date of October 31, 2022. On

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Jul. 31, 2021
Accounting Policies [Abstract]
Basis of Preparation	Basis of Preparation The accompanying consolidated financial statements have been prepared in accordance with United States generally accepted accounting principles (“GAAP”).
Consolidation	Consolidation The consolidated financial statements include the financial statements of the Company and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.
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 consolidated financial statements relate to revenues realized and costs incurred for films and television programs; valuing equity instruments issued; the realization of deferred tax assets; accruals for contingent liabilities; impairment assessments for investments in films and television programs, equity investments and intangible assets.
Derivative Financial Instruments	Derivative Financial Instruments Derivative financial instruments, as defined in ASC 815, “Accounting for Derivative Financial Instruments and Hedging Activities”, consist of financial instruments or other contracts that contain a notional amount and one or more underlying variables (e.g., interest rate, security price or other variable), require no initial net investment and permit net settlement. Derivative financial instruments may be free-standing or embedded in other financial instruments. Further, derivative financial instruments are initially, and subsequently, measured at fair value and recorded as liabilities or, in rare instances, assets. We do not use derivative financial instruments to hedge exposures to cash-flow, market, or foreign-currency risks. However, during the year ending July 31, 2021, we issued a financial instrument in the form of a convertible promissory note payable with embedded conversion features that do not afford equity classification. As required by ASC 815, these embedded conversion options are required to be carried as derivative liabilities, at fair value, in our financial statements. We estimated the fair value of its bifurcated embedded conversion features using a Stock Path Monte Carlo Simulation model. Estimating fair values of derivative financial instruments requires the development of significant and subjective estimates (such as volatility, estimated life, and risk-free rates of return) that may, and are likely to, change over the duration of the instrument with related changes in internal and external market factors. In addition, option-based techniques are highly volatile and sensitive to changes in the trading market price of our common stock, which has a high-historical volatility.
Film, Television Programs, and Music Production Costs	Film, Television Programs, and Music Production Costs Film, television program, and music production costs are capitalized in accordance with Accounting Standards Codification 926, Entertainment - Films. Capitalized amounts are stated at the lower of cost, less accumulated amortization, or fair value. These costs represent capitalized costs for the production of films and other entertainment projects. In addition to the films, television programs and music that the Company may produce, costs of productions in development are capitalized as development costs and are transferred to production costs when the project is set for production. Films, television programs and music in development 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 are written off if they are determined not to be recoverable and are evaluated for impairment at each reporting period. Once a project is released to consumers, the capitalized costs are 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 fiscal year. Revenue and cost forecasts are periodically reviewed by management and revised when warranted. The carrying value of film costs are 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 the carrying value, an impairment charge is recognized in the amount by which the unamortized costs exceed the project’s fair value. As of July 31, 2021, the Company has completed two feature films and one documentary and has one feature film in production. After testing for impairment of each of the projects, management has determined that no impairment charges should be recognized.
Revenue Recognition	Revenue Recognition 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 marketplaces. 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 services or goods. Revenues do not include taxes collected from customers on behalf of taxing authorities, such as sales tax and value-added tax. Revenues from the licensing of film and television content and the sales and licensing of music will be recognized when the content has been delivered and the license period has begun, as discussed above. Revenues from the licensing of symbolic intellectual property (i.e., licenses of motion pictures or television characters, brands, storylines, themes, or logos) will be recognized over the corresponding license term. Commissions will be recognized as such services are provided. Licensing Arrangements. Fixed Fee or Minimum Guarantees. The Company’s fixed fee or minimum guarantee licensing arrangements may, in some cases, include multiple titles, multiple license periods (windows) with a substantive period in between the windows, rights to exploitation in different media, or rights to exploitation in multiple territories, which may be considered distinct performance obligations. When these performance obligations are considered distinct, the fixed fee or minimum guarantee in the arrangement is allocated to the title, window, media right or territory as applicable, based on estimates of relative standalone selling prices. The amounts related to each performance obligation (i.e., title, window, media, or territory) will be recognized when the content has been delivered, and the window for the exploitation right in that territory has begun, which is the point in time at which the customer is able to begin to use and benefit from the content. Sales or Usage Based Royalties. Sales or usage-based royalties will represent amounts due to the Company based on the “sale” or “usage” of the Company’s content by the customer, and revenues which will be recognized at the later of when the subsequent sale or usage occurs, or the performance obligation to which some or all the sales or usage-based royalty has been allocated and has been satisfied (or partially satisfied). Generally, when the Company licenses completed content (with standalone functionality, such as a movie, or television show), its performance obligation will be satisfied prior to the sale or usage. When the Company licenses intellectual property that does not have stand-alone functionality (e.g., brands, themes, logos, etc.), its performance obligation will generally be satisfied in the same period as the sale or usage. The actual amounts due to the Company under these arrangements will generally not be reported to the Company until after the close of the reporting period. The Company will record revenue under these arrangements for the amounts due and not yet reported to the Company based on estimates of the sales or usage of these customers and pursuant to the terms of the contracts. Such estimates will be based on information from the Company’s customers, historical experience with similar titles in that market or territory, the performance of the title in other markets, and/or data available in the industry. Revenues by Market or Product Line. The following describes the revenues expected to be generated by market or product line. Theatrical Home Entertainment Digital Media Digital Transaction Revenue Sharing Arrangements Licenses of Content to Digital Platforms Packaged Media Television International Event-Based Other Related Parties
Deferred Revenue	Deferred Revenue Deferred revenue relates to customer cash advances or deposits received prior to when the Company satisfies the corresponding performance obligation. Payment terms are expected to vary by location and type of customer and the nature of the licensing arrangement, however, other than multi-year license arrangements; payments will generally be due within 60 days after revenue is recognized. For certain multi-year licensing arrangements, primarily in the television, digital media, and international markets, payments may be due over a longer period. When the Company expects the period between fulfillment of the Company’s performance obligation and the receipt of payment to be greater than a year, a significant financing component will be present. In these cases, such payments will be discounted to present value based on a discount rate reflective of a separate financing transaction between the customer and the Company, at contract inception. The significant financing component will be recorded as a reduction to revenue and accounts receivable initially, with such accounts receivable discount amortized to interest income over the period to receipt of payment. The Company does not assess contracts with deferred payments for significant financing components if, at contract inception, the Company expects the period between fulfillment of the performance obligation and subsequent payment to be one year or less. In other cases, customer payments may be made in advance of when the Company fulfills its performance obligation and recognizes revenue. This may primarily occur under television production contracts, in which payments may be received as the production progresses, international motion picture contracts, where a portion of the payments are received prior to the completion of the movie and prior to license rights start dates and pay television contracts with multiple windows with a portion of the revenues deferred until the subsequent exploitation windows commence. These arrangements will not contain significant financing components because the reason for the payment structure is not for the provision of financing to the Company, but rather to mitigate the Company’s risk of customer non-performance and incentivize the customer to exploit the Company’s content.
Cash	Cash The Company maintains its cash balances with financial institutions with high credit ratings and in accounts insured by the Federal Deposit Insurance Corporation (the “FDIC”). The Company may periodically have cash balances in banks in excess of FDIC insurance limits. The Company has not experienced any losses to date resulting from this practice.
Marketable Securities	Marketable Securities The Company’s marketable securities consist primarily of corporate equities with a quoted market price that are classified as trading securities. Marketable securities are stated at fair value as determined by the closing price of each security at each balance sheet date. Unrealized gains and losses on these securities are included in operations for the applicable period. The marketable securities have been presented as a current asset at each balance sheet date.
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. Costs and expenses incurred that represented 10% or more of costs for the period from August 1, 2020, through July 31, 2021, consist of legal fees of $ 224,389
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 July 31, 2021 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 July 31, 2021, 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 periodically issues common stock and stock options to officers, directors, employees, contractors, and consultants for services rendered. Options vest and expire according to terms established at the issuance date of each grant. Stock grants, which are generally time vested, are measured at the grant date fair value and charged to operations ratably over the vesting period. The Company accounts for stock-based payments to officers, directors, employees, contractors, and consultants by measuring the cost of services received in exchange for equity awards utilizing the grant date fair value of the awards, with the cost recognized as compensation expense over the period during which the individual is required to perform services in exchange for the award, which is generally over the vesting period of the award. The fair value of stock options granted as stock-based compensation is determined utilizing the Black-Scholes option-pricing model, and is 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 is 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 is based on the U.S. Treasury yield curve in effect at the time of grant. The fair market value of the common stock is determined by reference to the quoted market price of the Company’s common stock on the grant date. The Company recognizes the fair value of stock-based compensation awards in in the Company’s consolidated statements of operations. Through July 31, 2021, stock-based compensation costs have been included in general and administrative costs. The Company issues new shares of common stock to satisfy stock option exercises.
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 include marketable securities, prepaid expenses, deposits, accounts payable, accrued expenses, derivative liabilities, and amounts due to related parties. The estimated fair value of these instruments approximates their respective carrying amounts due to the short-term nature of these instruments.
Earnings Per Share	Earnings Per Share The Company’s computation of earnings 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 number of common shares outstanding for the period. Diluted EPS is computed similar to basic EPS, except that the denominator is increased to include the number of additional common shares that would have been outstanding if all potential shares of common stock pertaining to convertible notes payable, common stock subscriptions receivable and stock options had been issued as of the beginning of the period presented, or issuance date, if later. Dilution is computed by applying the treasury stock method for common stock subscriptions receivable and outstanding vested and unvested stock options, and the if-converted method is utilized for outstanding convertible notes payable. Under the treasury stock method, common stock subscriptions receivable are assumed to be received and stock options are assumed to be exercised at the beginning of the period (or at the time of issuance, if later) and as if the funds obtained thereby were used to purchase common stock at the average market price during the period. Under the if-converted method, outstanding convertible notes payable are assumed to be converted into common stock at the beginning of the period (or at the time of issuance, 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. At July 31, 2021, and 2020, the Company excluded the outstanding securities summarized below, which entitle the holders thereof to acquire shares of common stock, from its calculation of earnings per share, as their effect would have been anti-dilutive. Schedule of Outstanding Securities July 31, 2021 2020 Convertible promissory note 260,890 127,136 Common stock subscription receivable 9,652,000 11,000,000 Common stock options 9,000,000 9,000,000 Total 18,912,890 20,127,136 Weighted average common shares outstanding has been retroactively restated for all periods presented to reflect the accounting effect of the 2020 Reverse Acquisition Transaction (see Note 1).
Property and Equipment	Property and Equipment Property and equipment is recorded at cost. Major improvements are 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 and seven years. The Company recognizes depreciation of property and equipment in general and administrative costs in the Company’s consolidated statement of operations.
Leases	Leases Accounting Standards Update (“ASU”) 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. ASU 2016-02 excludes short-term operating leases with a lease term of 12 months or less at the commencement date, and that do not include an option to purchase the underlying asset that the lessee is reasonably certain to exercise. The Company did not have any leases within the scope of ASU 2016-02 at July 31, 2021.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In June 2016, the Financial Accounting Standards Board (the “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 receivable. 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. In March 2019, the FASB issued ASU 2019-02, Entertainment—Films—Other Assets—Film Costs (Subtopic 926-20) and Entertainment—Broadcasters—Intangibles—Goodwill and Other (Subtopic 920-350): Improvements to Accounting for Costs of Films and License Agreements for Program Materials (“ASU 2019-02”). ASU 2019-02 aligns the accounting for production costs of an episodic television series with the accounting for production costs of films by removing the content distinction for capitalization. Accordingly, the capitalization of production costs for episodic television series is no longer constrained until persuasive evidence of secondary market revenues exists. This new guidance also updates certain presentation and disclosure requirements for capitalized film and television costs and requires impairment testing to be performed at a group level for capitalized film and television costs when the content is predominantly monetized with other owned or licensed content. A film group is defined as the lowest level at which identifiable cash flows are largely independent of the cash flows of other films and/or license agreements. In addition, under previous guidance, film and television programs accounted for under the broadcasting accounting standard were carried on the balance sheet at the lower of cost or net realizable value. This new guidance requires that an entity test a film or television program for impairment, when impairment indicators are present, at a film group level when the film or license agreement is predominantly monetized with other films and/or license agreements. The impairment would be measured as the difference between the carrying value of the film group and its fair value rather than its net realizable value. This new guidance requires that an entity provide new disclosures about content that is either produced or licensed and classify cash flows for licensed content as cash flows from operating activities in the statement of cash flows. ASU 2019-02 was effective for the Company’s fiscal year beginning August 1, 2020 and was required to be adopted on a prospective basis. The adoption of ASU 2019-02 did not have any impact on the Company’s consolidated financial statement presentation or disclosures. The Company will continue to present all project development costs, including capitalized costs of acquired programming rights, as non-current assets in its consolidated balance sheet. In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (“ASU 2019-12”). ASU 2019-12 simplifies the accounting for income taxes by removing certain exceptions and enhances and simplifies various aspects of the income tax accounting guidance in ASC 740. ASU 2019-12 is effective for interim and annual reporting periods beginning after December 15, 2020. Management has not yet evaluated the effect that the adoption of ASU 2019-12 will have on the Company’s consolidated financial statement presentation or disclosures. In August 2020, the FASB issued ASU 2020-06, Debt — Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity (“ASU 2020-06). ASU 2020-06 simplifies the accounting for convertible debt by eliminating the beneficial conversion and cash conversion accounting models. Upon adoption of ASU 2020-06, convertible debt proceeds, unless issued with a substantial premium or an embedded conversion feature that is not clearly and closely related to the host contract, will no longer be allocated between debt and equity components. ASU 2020-06 will reduce the issue discount and result in less non-cash interest expense in financial statements. ASU 2020-06 also revises the earnings per share calculation and requires entities to assume share settlement when the convertible debt can be settled in cash or shares. For contracts in an entity’s own equity, the type of contracts primarily affected by ASU 2020-06 are freestanding and embedded features that are accounted for as derivatives under the current guidance due to a failure to meet the settlement conditions of the derivative scope exception. ASU 2020-06 simplifies the related settlement assessment by removing the requirements to (i) consider whether the contract would be settled in registered shares, (ii) consider whether collateral is required to be posted, and (iii) assess shareholder rights. ASU 2020-06 is effective for fiscal years beginning after December 15, 2023. Early adoption is permitted, but no earlier than fiscal years beginning after December 15, 2020, and only if adopted as of the beginning of such fiscal year. Management has not yet evaluated the effect that the adoption of ASU 2020-06 will have on the Company’s consolidated financial statement presentation or disclosures. In May 2021, the FASB issued ASU 2021-04, Earnings Per Share (Topic 260), Debt — Modifications and Extinguishments (Subtopic 470-50), Compensation — Stock Compensation (Topic 718), and Derivatives and Hedging — Contracts in Entity’s Own Equity (Subtopic 815-40): Issuer’s Accounting for Certain Modifications or Exchanges of Freestanding Equity-Classified Written Call Options (“ASU 2021-04”). ASU 2021-04 provides guidance as to how an issuer should account for a modification of the terms or conditions or an exchange of a freestanding equity-classified written call option (i.e., a warrant) that remains classified after modification or exchange as an exchange of the original instrument for a new instrument. An issuer should measure the effect of a modification or exchange as the difference between the fair value of the modified or exchanged warrant and the fair value of that warrant immediately before modification or exchange and then apply a recognition model that comprises four categories of transactions and the corresponding accounting treatment for each category (equity issuance, debt origination, debt modification, and modifications unrelated to equity issuance and debt origination or modification). ASU 2021-04 is effective for all entities for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. An entity should apply the guidance provided in ASU 2021-04 prospectively to modifications or exchanges occurring on or after the effective date. Early adoption is permitted for all entities, including adoption in an interim period. If an entity elects to early adopt ASU 2021-04 in an interim period, the guidance should be applied as of the beginning of the fiscal year that includes that interim period. Management has not yet evaluated the effect that the adoption of ASU 2021-04 will have on the Company’s consolidated financial statement presentation or 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.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Jul. 31, 2021
Accounting Policies [Abstract]
Schedule of Outstanding Securities	At July 31, 2021, and 2020, the Company excluded the outstanding securities summarized below, which entitle the holders thereof to acquire shares of common stock, from its calculation of earnings per share, as their effect would have been anti-dilutive. Schedule of Outstanding Securities
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	July 31, 2021 2020 Convertible promissory note 260,890 127,136 Common stock subscription receivable 9,652,000 11,000,000 Common stock options 9,000,000 9,000,000 Total 18,912,890 20,127,136

CHANGE IN CONTROL AND REVERSE_2

CHANGE IN CONTROL AND REVERSE ACQUISITION TRANSACTIONS (Tables)	12 Months Ended
	Jul. 31, 2021
Change In Control And Reverse Acquisition Transactions
Schedule of Change in Control and Reverse Acquisition Transactions	Schedule of Change in Control and Reverse Acquisition Transactions
CHANGE IN CONTROL AND REVERSE ACQUISITION TRANSACTIONS	Current assets acquired: Cash $ 572 Marketable securities 8,797 Total current assets $ 9,369 Adjustment to stockholders’ deficiency: Preferred stock ( 1,434 $ 202 Series B preferred stock ( 1,347 72 Common stock ( 7,810,996 781 Additional paid-in capital 8,314 Shares issued in reverse acquisition transaction $ 9,369

MARKETABLE SECURITIES (Tables)

MARKETABLE SECURITIES (Tables)	12 Months Ended
	Jul. 31, 2021
Cash and Cash Equivalents [Abstract]
Schedule of Marketable Securities	As of July 31, 2021, and 2020, the Company’s marketable securities are presented below. Schedule of Marketable Securities
MARKETABLE SECURITIES	Change in Fair Value For the Number Year of Fair Value at Ended Shares July 31, 2021 July 31, 2020 July 31, 2021 Common Shares of Entest Group, Inc. (ENTI) 66,667 $ 340 $ 260 $ 80 Common Shares of Regen Biopharma, Inc. (RGBP) 29,076,665 393,989 5,814 388,175 Series A Preferred Shares of Regen Biopharma, Inc. (RGBPP) 2,907,666 139,422 4,362 135,060 Total $ 533,751 $ 10,436 $ 523,315

PROPERTY AND EQUIPMENT (Tables)

PROPERTY AND EQUIPMENT (Tables)	12 Months Ended
	Jul. 31, 2021
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment	Property and equipment as of July 31, 2021, is summarized as follows: Schedule of Property and Equipment
PROPERTY AND EQUIPMENT	Computer and office equipment $ 23,767 Furniture and fixtures 9,894 Property and equipment, at cost 33,661 Less accumulated depreciation (2,615 ) Property and equipment, net $ 31,046

PROJECT DEVELOPMENT COSTS (Tabl

PROJECT DEVELOPMENT COSTS (Tables)	12 Months Ended
	Jul. 31, 2021
Research and Development [Abstract]
Schedule of Project Development Cost	Schedule of Project Development Cost
PROJECT DEVELOPMENT COSTS	Production “It’s “Please Baby “Mistress “Storyland” “Taurus” Total Balance, February 11, 2020 $ - $ - $ - $ - $ - $ - Additions 134,413 - - - - 134,413 Balance, July 31, 2020 134,413 - - - - 134,413 Additions 27,559 2,086,103 1,057,436 12,250 1,572,208 4,755,556 Refunds - (52,081 ) - - - (52,081 ) Capitalized Interest - 77,722 - - - 77,722 Balance, July 31, 2021 $ 161,972 $ 2,111,744 $ 1,057,436 $ 12,250 $ 1,572,208 $ 4,915,610

PROMISSORY NOTES PAYABLE (Table

PROMISSORY NOTES PAYABLE (Tables)	12 Months Ended
	Jul. 31, 2021
Promissory Notes Payable
Schedule of Conversion Feature Derivative Liability	A roll forward of the embedded conversion feature derivative liability for July 8, 2021, through July 31, 2021, is as follows: Schedule of Conversion Feature Derivative Liability
PROMISSORY NOTES PAYABLE	Beginning balance, July 8, 2021 $ 50,507 Increase in fair value during period 123 Ending balance, July 31, 2021 $ 50,630

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	12 Months Ended
	Jul. 31, 2021
Stock-based Compensation
Schedule of Fair Value Assumption for Stock Option	For stock options issued during the year ended July 31, 2021, the fair value of each stock option award was estimated using the Black-Scholes option-pricing model utilizing the following assumptions: Schedule of Fair Value Assumption for Stock Option
STOCK-BASED COMPENSATION	Risk-free interest rate 0.34% Expected dividend yield 0% Expected volatility 37.85% Expected life 5 years
Schedule of Stock Option Activity	A summary of stock option activity during the years ended July 31, 2021 and 2020 is presented below. Schedule of Stock Option Activity
STOCK-BASED COMPENSATION (Details 2)	Number of Weighted Weighted Stock options outstanding at February 11, 2020 — $ — — Granted 9,000,000 0.10 — Exercised — — — Expired — — — Stock options outstanding at July 31, 2020 9,000,000 0.10 — Granted — — — Exercised — — — Expired — — — Stock options outstanding at July 31, 2021 9,000,000 $ 0.10 3.09 Stock options exercisable at July 31, 2020 5,000,000 $ 0.10 — Stock options exercisable at July 31, 2021 7,000,000 $ 0.10 2.92

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Jul. 31, 2021
Income Tax Disclosure [Abstract]
Schedule of Deferred Tax Assets	Schedule of Deferred Tax Assets
INCOME TAXES	Federal State Arizona Net Operating Loss Carryforward $ 555,578 $ 129,635 Valuation Allowance (555,578 ) (129,635 ) Net deferred tax assets $ 0 $ 0
Schedule of Effective Income Tax rates	Schedule of Effective Income Tax rates
INCOME TAXES (Details 2)	Federal State (Arizona) Statutory Tax Rate (21 )% (4.90 )% Change in valuation allowance 21 % 4.90 % Effective tax rate 0 0

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - shares	Jul. 31, 2021	Jul. 31, 2020
Total	18,912,890	20,127,136
Convertible promissory note
Total	260,890	127,136
Common stock subscription receivable
Total	9,652,000	11,000,000
Common stock options
Total	9,000,000	9,000,000

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative)	12 Months Ended
	Jul. 31, 2021USD ($)
Accounting Policies [Abstract]
Legal Fees	$ 224,389

CHANGE IN CONTROL AND REVERSE_3

CHANGE IN CONTROL AND REVERSE ACQUISITION TRANSACTIONS (Details) - USD ($)	Apr. 13, 2020	Jul. 31, 2021	Jul. 31, 2020	Feb. 10, 2020
Adjustment to stockholders’ deficiency:
Series B preferred stock (1,347 shares issued)		$ 202	$ 202
Common stock (7,810,996 shares issued)		13,607	9,669
Additional paid-in capital		4,880,354	1,456,644
Shares issued in reverse acquisition transaction		1,493,599	(150,341)
Series B Preferred Stock [Member]
Adjustment to stockholders’ deficiency:
Series B preferred stock (1,347 shares issued)		$ 72	$ 72
Bio-Matrix Scientific Group, Inc
Current assets acquired:
Cash	$ 572
Marketable securities	8,797
Total current assets	9,369
Adjustment to stockholders’ deficiency:
Series B preferred stock (1,347 shares issued)	202
Common stock (7,810,996 shares issued)	781
Additional paid-in capital	8,314
Shares issued in reverse acquisition transaction	$ 9,369
Bio-Matrix Scientific Group, Inc | Preferred Stock [Member]
Adjustment to stockholders’ deficiency:
[custom:StockIssuedDuringPeriodSharesReverseAcquisitions]	1,434
Bio-Matrix Scientific Group, Inc | Series B Preferred Stock [Member]
Adjustment to stockholders’ deficiency:
Series B preferred stock (1,347 shares issued)	$ 72
[custom:StockIssuedDuringPeriodSharesReverseAcquisitions]	1,347
Bio-Matrix Scientific Group, Inc | Common Stock [Member]
Adjustment to stockholders’ deficiency:
[custom:StockIssuedDuringPeriodSharesReverseAcquisitions]	7,810,996

MARKETABLE SECURITIES (Details)

MARKETABLE SECURITIES (Details)	12 Months Ended
	Jul. 31, 2021USD ($)shares
Available-for-sale Securities	$ 533,751
Available-for-sale Securities	10,436
Change in Fair Value of Marketable Securities	$ 523,315
Common Shares of Entest Group, Inc. (ENTI)
Investment Owned, Balance, Shares | shares	66,667
Available-for-sale Securities	$ 340
Available-for-sale Securities	260
Change in Fair Value of Marketable Securities	$ 80
Common Shares of Regen Biopharma, Inc. (RGBP)
Investment Owned, Balance, Shares | shares	29,076,665
Available-for-sale Securities	$ 393,989
Available-for-sale Securities	5,814
Change in Fair Value of Marketable Securities	$ 388,175
Series A Preferred Shares of Regen Biopharma, Inc. (RGBPP)
Investment Owned, Balance, Shares | shares	2,907,666
Available-for-sale Securities	$ 139,422
Available-for-sale Securities	4,362
Change in Fair Value of Marketable Securities	$ 135,060

PROPERTY AND EQUIPMENT (Details

PROPERTY AND EQUIPMENT (Details) - USD ($)	Jul. 31, 2021	Jul. 31, 2020
Property, Plant and Equipment [Abstract]
Computer and office equipment	$ 23,767
Furniture and fixtures	9,894
Property and equipment, at cost	33,661
Less accumulated depreciation	(2,615)
Property and equipment, net	$ 31,046

PROPERTY AND EQUIPMENT (Detai_2

PROPERTY AND EQUIPMENT (Details Narrative)	Jul. 31, 2021USD ($)
Property, Plant and Equipment [Abstract]
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	$ 2,615

PROJECT DEVELOPMENT COSTS (Deta

PROJECT DEVELOPMENT COSTS (Details) - USD ($)	6 Months Ended	12 Months Ended
	Jul. 31, 2020	Jul. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Balance, February 11, 2020		$ 134,413
Additions	134,413	4,755,556
Balance, July 31, 2021	134,413	4,915,610
Refunds		(52,081)
Capitalized Interest		77,722
It's Complicated [Member]
Finite-Lived Intangible Assets [Line Items]
Balance, February 11, 2020		134,413
Additions	134,413	27,559
Balance, July 31, 2021	134,413	161,972
Refunds
Capitalized Interest
Please Baby Please [Member]
Finite-Lived Intangible Assets [Line Items]
Balance, February 11, 2020
Additions		2,086,103
Balance, July 31, 2021		2,111,744
Refunds		(52,081)
Capitalized Interest		77,722
Mistress Movie [Member]
Finite-Lived Intangible Assets [Line Items]
Balance, February 11, 2020
Additions		1,057,436
Balance, July 31, 2021		1,057,436
Refunds
Capitalized Interest
Storyland [Member]
Finite-Lived Intangible Assets [Line Items]
Balance, February 11, 2020
Additions		12,250
Balance, July 31, 2021		12,250
Refunds
Capitalized Interest
Taurus [Member]
Finite-Lived Intangible Assets [Line Items]
Balance, February 11, 2020
Additions		1,572,208
Balance, July 31, 2021		1,572,208
Refunds
Capitalized Interest

PROMISSORY NOTES PAYABLE (Detai

PROMISSORY NOTES PAYABLE (Details) - USD ($)	1 Months Ended	6 Months Ended	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2021
Short-term Debt [Line Items]
Increase in fair value during period			$ 123
Convertible Notes Payable [Member]
Short-term Debt [Line Items]
Beginning balance, July 8, 2021	$ 50,507
Increase in fair value during period	$ 123
Ending balance, July 31, 2021	$ 50,630		$ 50,630

STOCK-BASED COMPENSATION (Detai

STOCK-BASED COMPENSATION (Details)	12 Months Ended
	Jul. 31, 2021
Stock-based Compensation
Risk-free interest rate	0.34%
Expected dividend yield	0.00%
Expected volatility	37.85%
Expected life	5 years

STOCK-BASED COMPENSATION (Det_2

STOCK-BASED COMPENSATION (Details 2) - Equity Option [Member] - $ / shares	6 Months Ended	12 Months Ended
	Jul. 31, 2020	Jul. 31, 2021
Offsetting Assets [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Beginning Balance		9,000,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Beginning Balance		$ 0.10
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	9,000,000
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price	$ 0.10
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price
Share-based Compensation Arrangement by Share-based Payment Award, Options, Expirations in Period
Share-based Compensation Arrangements by Share-based Payment Award, Options, Expirations in Period, Weighted Average Exercise Price
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance	9,000,000	9,000,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Ending Balance	$ 0.10	$ 0.10
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term		3 years 1 month 2 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number	5,000,000	7,000,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price	$ 0.10	$ 0.10
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term		2 years 11 months 1 day

INCOME TAXES (Details)

INCOME TAXES (Details)	Jul. 31, 2021USD ($)
Federal
Operating Loss Carryforwards [Line Items]
Net Operating Loss Carryforward	$ 555,578
Valuation Allowance	(555,578)
Net deferred tax assets	0
Arizona
Operating Loss Carryforwards [Line Items]
Net Operating Loss Carryforward	129,635
Valuation Allowance	(129,635)
Net deferred tax assets	$ 0

INCOME TAXES (Details 2)

INCOME TAXES (Details 2)	12 Months Ended
	Jul. 31, 2021
Federal
Operating Loss Carryforwards [Line Items]
Statutory Tax Rate	2100.00%
Change in valuation allowance	2100.00%
Effective tax rate	0.00%
Arizona
Operating Loss Carryforwards [Line Items]
Statutory Tax Rate	490.00%
Change in valuation allowance	490.00%
Effective tax rate	0.00%