Company: RIVF
Filing Date: 2025-07-24
Form Type: 10-Q
Source: 0001376474-25-000660
Chunk: 29

Company: Rivulet Entertainment, Inc.
Filing Date: 2025-07-24
Form: 10-Q
Item: Part I, Item 1
Chunk 29
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 shares of such series in such amount or amounts; 
·May be entitled to the benefit of conditions and restrictions upon the creation of indebtedness of the Corporation or any subsidiary, upon the issue of any additional shares (including additional shares of such series or of any other series) and upon the payment of dividends or the making of other distributions on, and the purchase, redemption or other acquisition by the Corporation or any subsidiary of, any outstanding shares of the Corporation; and 
·May have such other relative, participating, optional or other special rights, qualifications, limitations or restrictions thereof, in each case as shall be stated in said resolution or resolutions providing for the issue of such shares of Preferred Stock. 

NOTE 10 – SUBSEQUENT EVENTS
 
In accordance with ASC 855, Subsequent Events, the Company has evaluated events and transactions subsequent to September 30, 2024 through the date these consolidated financial statements were issued. Other than the below, 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,