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.