RIVU Rivulet Media Inc (CE)

On February 8, 2022, Rivulet Media, Inc., (the “Company”) entered into a Settlement Agreement with Geneva Roth Remark Holdings, Inc, (“Geneva Roth”) to settle and resolve the Company’s obligations with respect to three Convertible Promissory Notes executed by the Company and payable to Geneva Roth dated July 8, 2021, August 2, 2021, and September 7, 2021, respectively. The Company was in default under these notes.

Under the terms of the Settlement Agreement, the Company would have paid an aggregate of $386,533 to Geneva Roth, which would constitute payment in full under the notes. The Company paid $270,000 towards the outstanding balance as of April 24, 2022. On April 19, 2022, the Company and Geneva Roth amended the Settlement Agreement to provide that Geneva Roth would accept $80,000 as full payment of the remaining amount due under the Settlement Agreement. On April 25, 2022, the Company made a one-time payment of $50,000, and on April 27, 2022, the Company and Geneva Roth entered into a Mutual Release, whereby the parties agreed that this $50,000 payment constituted full satisfaction of the notes.

Entry into the Settlement Agreement, the amendment, and the mutual release was previously disclosed in Item 7 of the Form 10-K of the Company filed on May 13, 2022, which is incorporated by reference herein. This Form 8-K is being filed for the purpose of attaching such agreements as exhibits.

The descriptions of the agreements above are only summaries of such agreements, do not purport to be complete descriptions of such agreements, and are qualified in their entirety by reference to such agreements filed as Exhibits 10.1 to 10.3 and incorporated herein by reference.