M&A - Rivulet Entertainment, Inc.

Form Type: 8-K

Filing Date: 2025-06-03

Corporate Action: Merger

Type: Update

Accession Number: 000137647425000509

Filing Summary: On June 3, 2025, Rivulet Entertainment, Inc. reported a conclusion by its Board of Directors that certain previously issued financial statements were to be disregarded due to a non-cash error related to the accounting for the pending merger equity pre-payment. The error, identified in the financial statements, pertained to an approximate $27 million equity pre-payment made to Rivulet Media. This amount was incorrectly categorized as an 'asset purchase deposit' rather than as an adjustment to equity on the Consolidated Balance Sheet. As a result, Rivulet Entertainment will restate its financial statements from its Form 10-KT filed on November 11, 2024, which will entail a reduction of total assets and equity by approximately $27 million, with no effect on the Consolidated Statement of Operations. The company intends to amend the relevant filing accordingly.