Rivulet Entertainment, Inc.

On February 12, 2026 the company and Rivulet Media agreed to replace the $3,500,000 cash still owed under the March 2024 purchase agreement with 12,900,000 restricted common shares and 1,000,000 Series C Preferred shares. This continues the series of amendments to the deal. The company no longer has to pay that cash, but it will issue new shares, which dilutes existing shareholders. The filing does not give the terms of the Series C Preferred.

material agreement

This amendment says the Rivulet Media deal closed on July 7, 2024, when the company acquired certain wholly owned subsidiaries of Rivulet Media, Inc. for about $10 million (later cut to $6,450,000 by the May 19, 2025 amendment) and about 97 million shares. It resolves the open question of whether the deal had closed. The company has paid $2,950,000 so far and owes $3,500,000. The filing's stated purpose is to add Form 10 information, audited Rivulet Media financials for the years ended June 30, 2024 and 2023, and pro forma figures. It describes Rivulet Media's film, television and music production business.

asset acquisition disposition

On May 30, 2025 the board concluded that the financial statements in the Form 10-KT filed November 11, 2024 should no longer be relied on. It says the roughly $27 million equity pre-payment to Rivulet Media was wrongly recorded as an asset purchase deposit rather than an offset to equity. The correction will cut total assets and equity by about $27 million with no effect on the statement of operations, and the company plans to amend that filing.

financial restatement

On May 19, 2025 the company and Rivulet Media amended the March 2024 purchase agreement to cut the cash portion of the price from $10,000,000 to $6,450,000. The closing conditions and default provisions were also eliminated, so the deal is no longer subject to those conditions. The reduced cash price lowers the amount still owed by the company (the earlier filing showed $10,069,000).

material agreement

On March 1, 2024 the company signed an Asset Purchase Agreement to buy certain assets of Rivulet Media, Inc. for 90,784,800 new shares plus $10,069,000 in cash, expected to close April 10, 2024 with no assurance. It also sold 7,500,000 shares at $0.40 for $3,000,000 to one investor, paid $2,600,000 of it to Rivulet, and states that Rivulet's shareholders will control 88.24% of the company. This is a sharp move away from the speech-recognition patent business described in the earlier context, and existing holders are heavily diluted.

capital raising announcement

On April 19-20, 2023 the company sold 262,579,731 shares at $0.001165 each for $305,682 to one investor, with the filing saying the funds paid all the company's debts; the President also sold that investor 17,000,000 of his own shares for $53,000. The filing states the investor now owns 52.89% and that this is a change of control. This is a very large dilution of existing holders, and it appears to settle the old note and legal-fee obligations in the context (inference; the filing does not itemise the debts).

capital raising announcement

On November 14, 2018 the company sold 11,500,000 shares at $0.0063 per share for $72,450 to one accredited private investor. This is far larger than any 2018 sale reported so far (previously $1,000-$10,500) and the new shares dilute existing holders. The filing does not say what the money is for (inference: it may relate to the $20,000 balloon payment due to Meyers & Associates by November 21, 2018, but the filing does not link them).

capital raising announcement

This amendment only adds the emerging growth company cover-page text to the earlier report dated July 3, 2018. The only exhibit listed is a July 10, 2018 press release titled 'Advanced Voice Recognition Systems, Inc Files Infringement Complaint Against Apple, Inc.' Its title indicates the company filed the long-anticipated patent suit, which was previously described only as 'forthcoming' litigation; the amendment itself gives no details of the complaint (court, patents or relief sought).

material agreement

On August 1, 2018 the company and Meyers & Associates amended the $52,385.46 settlement note from January. The company is to pay $6,000 by August 1, $1,500 a month from September 1 through November 1, 2018, and the remaining principal and interest on December 1, 2018, pushing the final payment back from August 1. This continues the fee-dispute settlement and extends the deadline for the lump-sum payment.

material agreement

On June 21, 2018 the company, Buether Joe & Carpenter and Schmeiser, Olsen & Watts LLP signed a new limited-scope agreement for the firm to act as local counsel in 'forthcoming litigation' in the U.S. District Court, District of Arizona, with a $2,500 evergreen fee advance (down from the $3,000 in the March 2017 engagement). The company can terminate at any time. This shows the Buether Joe & Carpenter arrangement was still in place in June 2018; no lawsuit is reported filed.

material agreement

On January 31, 2018 the company and CEO Walter Geldenhuys settled the October 2017 Colorado lawsuit brought by Meyers & Associates over legal fees. Both agreed to release certain claims and to give M&A a $52,385.46 note at 12% interest compounded annually, repayable at $1,000 a month from February 1 through July 1, 2018 with the balance due August 1, 2018. The company and Geldenhuys are jointly responsible. This is the same firm (listed as Meyer & Associates) that was paid for patent prosecution under the 2015 Adapt IP note (inference that the fees relate to that work is not stated in the filing).

material agreement

Effective June 28, 2017 the company and Dominion Harbor Group mutually agreed to end their August 20, 2015 agreement, with no material termination penalties. Because no proceeds were generated, the company owes nothing for costs Dominion advanced or accrued litigation counsel fees for counsel introduced by Dominion. This resolves the Dominion thread (up to $10,000,000 of cost advances) with no patent licensing or litigation proceeds reported; whether the Buether Joe & Carpenter and Schmeiser Olsen engagements continue is not stated.

material agreement termination

On June 5, 2017 the company sold 5,000,000 shares at $0.005 per share for $25,000 to one private investor. This is far larger than the usual $1,000-$8,500 sales; new shares dilute existing holders.

capital raising announcement

On March 31, 2017 the company hired Schmeiser, Olsen & Watts LLP as local counsel for 'forthcoming litigation' in the U.S. District Court, District of Arizona, with a $3,000 evergreen fee advance held in the firm's trust account; the company can terminate at any time. The filing says Dominion Harbor will pay enforcement expenses under the 2015 agreement. This is the first sign of court action following the November 2016 Buether Joe & Carpenter engagement, though no lawsuit is reported yet.

material agreement

On November 1, 2016 the company signed a contingent fee agreement with law firm Buether Joe & Carpenter, LLC to investigate and assert claims on its patents, including negotiating licences and filing lawsuits against potential infringers. The firm is paid only if the company recovers money: 10% of licensing proceeds in the first year and 20% after, plus a graduated share of litigation proceeds, secured by a security interest in those proceeds; the company can terminate at any time. The filing says Dominion Harbor will pay enforcement expenses under the 2015 advisory agreement, so this appears to be the law-firm step in that enforcement effort (inference).

material agreement

On August 20, 2015 the company signed a letter agreement with Dominion Harbor Group, LLC for strategic advice on acquiring, selling, licensing, enforcing and settling its patents. Dominion will advance recommended costs up to $10,000,000 and take 42.5% of net proceeds (35% if outside litigation), repaid first from any proceeds; if nothing is recovered the company owes no advanced costs. The company can terminate if within three months Dominion has not engaged a potential licensee and produced active discussions or proposals from two law firms for an infringement action. This follows the March 2015 Adapt IP engagement and offers funding for patent enforcement, which the company has so far financed through small share sales.

material agreement

On April 20, 2015 the company signed a letter agreement with Adapt IP Ventures, LLC under which Adapt IP will pay Meyer & Associates, LLC up to $20,000 to keep prosecuting the company's patents. The company promises to repay Adapt IP through an unsecured note that can be prepaid without penalty; the filing gives no interest rate or due date. This extends the March 2015 Adapt IP relationship and adds a new debt.

material agreement

On March 16, 2015 the company hired Adapt IP Ventures, LLC on an exclusive basis for 60 days (reviewed every 30 days for extension) to help find companies that might acquire or license its patents, negotiate terms and help collect payment. Adapt IP gets a 15% success fee on net consideration; either side can end it on 30 days' notice. This continues the company's strategy of seeking licences or strategic relationships for its patents, now through an outside agent.

material agreement

On January 10, 2012 the company agreed to sell 5,000,000 shares at $0.04 per share for $200,000 to one private investor, payable by January 11, 2012. The price is half the $0.08 of the 2010-2011 placements, so the company is now raising money at a lower price and issuing more shares per dollar.

capital raising announcement

On August 25, 2011 the company dismissed its auditor Cordovano and Honeck LLP because the PCAOB notified the firm that Sam Cordovano will receive a permanent bar, so the firm can no longer audit public companies. The board engaged Borgers & Cutler CPAs PC for the rest of fiscal 2011. The firm's 2010 and 2009 reports carried going-concern paragraphs, continuing the earlier going-concern warnings; no disagreements with the former auditor were reported.

auditor change

On March 9, 2011 the company agreed to sell 4,375,000 shares at $0.08 per share for $350,000 to one private investor, payable by March 10, 2011. A sizeable cash raise at the same price as earlier placements; new shares dilute existing holders.

capital raising announcement

On October 27, 2010 the company agreed to sell 5,250,000 shares at $0.08 per share for $420,000 to one private investor, payable by October 29, 2010. This is the largest single cash placement in this run of small sales; new shares dilute existing holders.

capital raising announcement

The company agreed to sell 10,000,000 shares at $0.08 per share, $800,000 in total, to two private investors ($400,000 each), paid in installments from May 5 to November 15, 2010. This is a second round of installment-paid private placements after March's $0.05 deal, at a higher price; the new shares dilute holders and cash comes only as installments are paid.

capital raising announcement

The company agreed to sell 10,000,000 shares at $0.05 ($500,000 total) to two private investors, paid in installments from March 12 to June 15, 2010, replacing some of the cash the failed Lion Share deal was meant to bring. It also disclosed that on March 9, 2010 the USPTO declared a patent interference between its application 09/351,542 (senior party) and Allvoice Developments' patent 5,799,273 (junior party), in which Allvoice must prove it invented first. The outcome is not stated; new shares dilute existing holders.

capital raising announcement

The $5,000,000 Lion Share Capital note for 16,000,000 shares was never paid: no payments were made, the company declared default on December 10, 2009, and on January 11, 2010 it foreclosed on the pledged shares and cancelled the note and the Purchase Agreement. This resolves the Lion Share thread negatively: the expected $5,000,000 never arrived, though the company took back the pledged shares (the filing does not say they were cancelled).

material agreement termination

The renamed company agreed to sell 16,000,000 shares to Lion Share Capital LLC for a $5,000,000 promissory note at 7.5%, repayable in three installments ($750,000 by November 8, 2008; $3,000,000 by February 6, 2009; $1,250,000 by March 23, 2009), with the shares pledged as security. It also gave Lambert Lavallee until November 15, 2008 to deliver $1,400,000 or return 2.5 shares per $1 unpaid, modifying the earlier payment arrangement from the AVRS deal. Cash arrives only as the note is paid, and new shares dilute holders.

capital raising announcement

Samoyed signed a merger plan to fold its wholly-owned AVRS subsidiary into itself and rename itself Advanced Voice Recognition Systems, Inc.; the AVRS shares are cancelled with no payment since the parent owns them. It also dismissed auditor Child, Van Wagoner & Bradshaw (no disagreements; earlier reports had going-concern warnings) and hired Cordovano and Honeck LLP for the year ending September 30, 2008.

business combination

On May 19, 2008 Samoyed completed the AVRS deal, issuing 140,000,000 shares so former AVRS holders own about 85% of the company, and on May 20 it handed all its oil and gas assets and related liabilities to Stone Canyon for the 22,749,998 shares Stone Canyon held (which were cancelled). The company is now a speech-recognition software business, per the filing still in the development stage with no product revenue, and Walter Geldenhuys replaced Lisa Jacobson as leadership. Existing shareholders were heavily diluted by the share issue.

business combination

Samoyed signed a Stock Exchange Agreement under which AVRS shareholders would hand over all AVRS shares in return for 140,000,000 new Samoyed shares. Closing was conditional on Samoyed transferring all its oil and gas assets and related liabilities to Stone Canyon in exchange for Stone Canyon's 22,749,998 Samoyed shares, on shareholder payments of $250,000 and $1,750,000 (or share cancellations), on one-year lock-ups, and on an AVRS audit, with closing expected by May 15, 2008. This turns the earlier letter of intent into a binding agreement.

material agreement

Samoyed announced a non-binding-style letter of intent (accepted January 29, 2008) for a proposed business combination with Advanced Voice Recognition Systems, Inc. (AVRS), a speech-recognition company. The filing gives no terms; it points to the attached news release and letter. This is a possible shift away from oil and gas.

business combination

Samoyed bought small interests in producing and exploration oil and gas leases in Alberta (the Wilson Creek Assets) from Stone Canyon Resources Inc. for US$150,000 cash. The interests are 3.125% to 9.5% working or pooled interests, including one producing gas well, one shut-in gas well and one potential gas well.

asset acquisition disposition