Company: RIVF
Filing Date: 2025-07-24
Form Type: 10-Q
Source: 0001376474-25-000660
Chunk: 23

Company: Rivulet Entertainment, Inc.
Filing Date: 2025-07-24
Form: 10-Q
Item: Part I, Item 1
Chunk 23
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 minus impairment.
 
The carrying amount of our investment in Casa Azul was $2,000,000 as of both September 30, 2024 and June 30, 2024. Further, the Company has not adjusted the cost of the investment, either upwards or downwards, since we made the initial investment. The Company considered the price per share disclosed in recent subscription agreements issued by Casa Azul in determining the carrying amount of the investment as of September 30, 2024.  

11

NOTE 6 – NOTES PAYABLE AND RELATED PARTY LOANS
 
The Company enters into loan agreements with both related and non-related parties in order to fund their ongoing film production activities. To that extent, the Company had the following outstanding debt as of September 30, 2024 and June 30, 2024:

September 30, 2024
 
June 30, 2024

Current notes payable; Issued December 2023-January 2024;15% stated interest rate; Due April 1, 2024 - in default
 
$4,140,000  
 
$4,140,000  

Current notes payable; Issued July 2024-September 2024;10% stated interest rate; Due March 28, 2025
 
61,064  
 
-  

Non-current notes payable; Issued June 2023-May 2024;15% stated interest rate; Due February 1, 2026
 
1,330,000  
 
1,330,000  

Non-current notes payable; Issued July 2024-September 2024;15%-20% stated interest rates; Due upon the earlier of a sale of a film or closing of a senior debt facility.
 
755,000  
 
-  

Non-current notes payable; Issued July 2024-September 2024;15% stated interest rate; Due upon sale of film
 
125,000  
 
-  

Tax credit assignment loans; Issued January of 2024;Participation in future tax receivable; No stated interest rate or due date
 
750,000  
 
750,000  

Related party notes payable to a beneficial owner; Issued October-November of 2023;15% stated interest rate;  Due February 1, 2026 (refer to Note 8)
 
2,880,000