Company: RIVF
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024216
Chunk: 18

Company: Rivulet Entertainment, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 18
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 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 December 31, 2024 and June 30, 2024:

 SCHEDULE OF NOTES PAYABLE AND RELATED PARTY LOAN

    December
    31, 2024  
    June
    30, 2024 

    Current notes payable; Issued
    December 2023-January 2024; 15% stated interest rate; Due April 1, 2024 - in default 
    $1,590,000  
    $4,140,000 
  
    Current notes payable; Issued July 2024-September
    2024; 10% stated interest rate; Due March 28, 2025 
     13,493  
     - 
  
    Current loan payable; Issued October 2024;
    6.5% average interest rate; Due October 2025; net of deferred financing costs 
     3,479,017  
     - 
  
    Current notes payable; Issued September
    2024; 20% stated interest rates; Due upon the earlier of a sale of a film or closing of a senior debt facility - in default 
     150,000  
     - 
  
    Current notes payable; Issued December 2023;
    15% stated interest rates; Due upon the earlier of a sale of a film or closing of a senior debt facility - in default 
     100,000  
     - 
  
    Non-current notes payable; Issued June 2023-May
    2024; 15% stated interest rate; Due February 1, 2026 
     1,255,000  
     1,330,000 
  
    Non-current notes payable; Issued October
    2024-December 2024; 10% stated interest rate; Due January 25, 2026 
     10,082,928  
     - 
  
    Non-current notes payable; Issued July 2024-October
    2024; 15%-20% stated interest rates; Due upon the earlier of a sale of a film or closing of a senior debt facility 
     905,000