Company: RIVF
Filing Date: 2025-10-15
Form Type: 10-K
Source: 0001493152-25-018109
Chunk: 407

Company: Rivulet Entertainment, Inc.
Filing Date: 2025-10-15
Form: 10-K
Item: Item 7
Chunk 407
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 sale of a film or closing of
    a senior debt facility 
     1,080,000  
     - 
  
    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  
     2,880,000 
  
    Related
    party notes payable to parent company; Issued at various dates; no stated interest rate or due date (refer to Note 8) 
     -  
     7,888,316 
  
    Total notes
    payable 
     20,094,742  
     16,988,316 
  
    Less
    current maturities 
     (20,094,742) 
     (4,890,000)
  
    Total
    notes payable, non-current portion 
    $-  
    $12,098,316 

As
of June 30, 2025, $353,000 of notes were in default as a result of provisions in the respective note agreements requiring payment upon
sale of a film, which has yet to be fulfilled by the Company. As of the date of the filing, $353,000 were still in default and bore an
interest rate of 20% to 25%.

During
the twelve months ended June 30, 2025, the Company entered into certain note agreements totaling $18.2 million. These notes bear interest
at rates of approximately 10% to 20%, and mature dependent upon factors related to future film sales, the closing of a senior debt facility
or certain stated maturity dates, as detailed in the table above.

Additionally,
on October 16, 2024 the Company entered into a one1-year credit facility with total availability of $3.5 million. The full amount of $3.5
million has been drawn as of the date of these consolidated