Company: RIVF
Filing Date: 2025-07-24
Form Type: 10-Q
Source: 0001376474-25-000660
Chunk: 50

Company: Rivulet Entertainment, Inc.
Filing Date: 2025-07-24
Form: 10-Q
Item: Part I, Item 8
Chunk 50
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 of the transaction) did not have any shares outstanding as of the merger date, the Company established an exchange ratio based on the number of shares issued by Rivulet Entertainment, Inc. to effectuate the merger divided by the number of shares outstanding of Rivulet Media, Inc. consolidated immediately prior to the merger as follows:
 
Number of shares issued to effectuate the merger
A
96,722,950   

Rivulet Media inc. consolidated shares outstanding-pre merger  
B
   144,045,171   

Exchange ratio
A/B
0.67   

Further, for the recapitalization shares issued amount, the Company determined the implicit number of shares that Rivulet Media, Inc. would have had to issue in order to provide Rivulet Entertainment, Inc. with an approximate 12% interest in the combined company and multiplied that amount times the established exchange ratio as follows:
 
Gross implicit shares issued by Rivulet Media, inc.   
A
   19,320,000   

Exchange ratio
B
              0.67   

13

Net implicit shares issued
A*B
12,972,926   

NOTE 9 – SHAREHOLDERS’ EQUITY
 
As of September 30, 2024 the Company was authorized to issue multiple series of preferred stock, as outlined below. There were no preferred shares issued or outstanding as of September 30, 2024.
 
Series A Preferred Stock: (10,000,000 shares authorized; $0.001 par value): 
 
The Series A Preferred stock had the following rights and privileges:
 
·Are without voting powers on any matter presented to the common stockholders of the Company for their action or consideration. Series A stockholders are entitled to vote on matters relating to modifications, adjustments, waivers, or other changes or matters relating to Series A stock. Each Series A stock share shall have one (1) vote on matters relating to Series A stock. 
·May be subject to redemption at such time or times and at such prices determined by the Board of Directors; 
·Are entitled to receive dividends (which may be cumulative or non-cumulative) at 10% per annum payable in preference to, or in such relation to, the dividends payable on any other class or classes or series of stock; 
·May have rights upon the dissolution of, or upon any distribution of