Item 1.01 Entry into a Material Definitive Agreement
The disclosures set forth in Item 2.03 are incorporated into this Item 1.01 by
reference.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an
Off-Balance Sheet Arrangement of a Registrant.
On May 26, 2022, Rivulet Media, Inc., a Delaware corporation (the "Registrant"),
issued a promissory note in favor of Aaron Klusman, its Chief Executive Officer,
in the principal sum of $50,000.00. The note carries a 0% interest rate, matures
on November 30, 2022, and is subject to default interest of 10% per annum.
On June 1, 2022, the Registrant, issued a promissory note in favor of Aaron
Klusman, its Chief Executive Officer in the principal sum of $50,000.00. The
note carries a 0% interest rate, matures on November 30, 2022, and is subject to
default interest of 10% per annum.
On June 1, 2022, the Registrant, issued a promissory note in favor of David
Crosser in the principal amount of $20,000.00. The note carries a 10% interest
rate, matures on November 30, 2022, and is subject to default interest of 15%
per annum.
On June 8, 2022, the Registrant, issued a promissory note in favor of David
Crosser in the principal amount of $60,000.00. The note carries a 10% interest
rate, matures on November 30, 2022, and is subject to default interest of 15%
per annum.
On June 8, 2022, the Registrant entered into a three-year lease agreement
wherein it renewed the lease on its principal executive offices located at 1206
East Warner Road, Suite 101-I, Gilbert, Arizona 85296. The rental payments start
at $1,945.00 monthly for the first year and $2,063 monthly for the last year.
The landlord is Restart Western Skies, L.P. and the lease expires on June 30,
2025.
On June 15, 2022, the Registrant, issued a promissory note in favor of Ralph
Davis in the principal amount of $50,000.00. The note carries a 10% interest
rate, matures on November 30, 2022, and is subject to default interest of 15%
per annum.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
10.42 A promissory note executed on May 26, 2022 in favor of Aaron Klugman
in the amount of $50,000.00
10.43 A promissory note executed on June 1, 2022 in favor of Aaron Klugman
in the amount of $50,000.00
10.44 A promissory note executed on June 1, 2022 in favor of David Crosser
in the amount of $20,000.00
10.45 A promissory note executed on June 8, 2022 in favor of David Crosser
in the amount of $60,000.00
10.46 A lease agreement between the registrant and the landlord Restart
Western Skies, L.P. expiring on June 30 2025.
10.47 A promissory note executed on June 15, 2022 in favor of Ralph Davis
in the amount of $50,000.00
104 Cover Page Interactive Data File (embedded within the Inline XBRL
document)
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