Company: RIVF
Filing Date: 2025-07-24
Form Type: 10-Q
Source: 0001376474-25-000660
Chunk: 53

Company: Rivulet Entertainment, Inc.
Filing Date: 2025-07-24
Form: 10-Q
Item: Part I, Item 8
Chunk 53
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 there are no subsequent events identified that would require disclosure in these condensed consolidated financial statements.
 
License of Nutcracker
 
During October of 2024, the Company signed a license and distribution agreement with Disney DTC LLC (“DDTC”) for access rights to the feature film “Nutcrackers” and all associated short from content (i.e. trailers, deleted scenes, etc.) The license term lasts 15 years following the initial exploitation of the project by DDTC. In consideration of the license agreement, the Company is to receive a fixed payment of $10 million of which approximately $8 million had been received as of the date the condensed consolidated financial statements were issued.
 
Debt Payments  
 
Various notes payable totaling approximately $12.0 million were repaid subsequent to September 30, 2024.
 
Debt Issuance
 
Debt Facility

15

On October 16, 2024 the Company entered into a one-year credit facility with total availability of $3,500,000. The full amount of $3,500,000 has been drawn as of the date of these condensed consolidated financial statements with an approximate interest rate of 6.5%.
 
Note Issuances
 
Subsequent to September 30, 2024, the Company issued notes payable totaling $375,000 with interest rates ranging from 15% to 20% and maturities dependent upon aspects related to sale of particular films or closing of a senior debt facility.
 
Subsequent to September 30, 2024, 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