Company: RIVF
Filing Date: 2025-07-24
Form Type: 10-Q
Source: 0001376474-25-000660
Chunk: 30

Company: Rivulet Entertainment, Inc.
Filing Date: 2025-07-24
Form: 10-Q
Item: Part I, Item 1
Chunk 30
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 the Company issued notes payable in the amount of $525,000 with various maturity dates which have had negotiated term extensions and bear interest at rates ranging from 10% to 16%.
 
Subsequent to September 30, 2024, the Company issued notes payable of approximately $17.6 million.  The notes bear interest at 10% and mature January 25, 2026.
 
Litigation
 
During June of 2025, the Company received an OSHA complaint which was made against one of our wholly owned subsidiaries (i.e. "The Nutcracker"). The Company does not believe that there is any merit to the claim. Further, an estimate of the possible loss cannot be made at this time.

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations 

The following discussion and analysis should be read in conjunction with the financial statements and related notes included elsewhere in this Form 10-Q. To that extent, the information discussed below solely reflects the results of the combined entities that were transferred as part of the agreement with Rivulet Entertainment, Inc. This document contains certain forward-looking statements that involve risks and uncertainties, such as statements of the Company's plans, objectives, expectations and intentions. When used in this document, the words "expects", "anticipates", "intends" and "plans" and similar expressions are intended to identify certain of these forward-looking statements. The cautionary statements made in this document should be read as being applicable to all related forward-looking statements wherever they appear in this document. Our actual results could differ materially from those discussed in this document.

Liquidity and Capital Resources

The Company had notes payable, which were used to fund our film production, totaling $10,041,064 as of September 30, 2024. Further, the Company still has a $3,500,000 outstanding balance to Rivulet Media, inc. stemming from the merger transaction. 

The Company will incur significant capital costs as it continues to produce feature length films, such as "The Dink". In order to continue to produce films, the Company will need to raise funds through additional borrowings until such time as our operating revenues from the sale of films are sufficient to meet our cost structure, and ultimately provide profitable operations. There is no assurance we will be successful in raising additional capital or achieving profitable operations.

Going Concern

The Company had cash of $79,049 as of September 30, 2024. Further, the Company incurred