Announcement • Jun 13
Rivulet Media, Inc. announced that it has received $1.3343 million in funding On June 12, 2023, Rivulet Media, Inc. closed the transaction. The transaction included participation from eight investors. New Risk • Jun 13
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 11% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Latest financial reports are more than 1 year old (reported July 2021 fiscal period end). Shares are highly illiquid. Market cap is less than US$10m (US$176.2k market cap). Minor Risk Shareholders have been diluted in the past year (11% increase in shares outstanding). Announcement • Jun 01
Rivulet Media, Inc. Announces Chief Financial Officer Changes Effective May 24, 2022, Michael Witherill was re-appointed Chief Financial Officer of Rivulet Media, Inc. (the Company). Mr. Witherill, age 60, previously served as Chief Financial Officer of the Company from July 1, 2020, until October 26, 2021. Mr. Witherill also serves as President and Vice-Chairman of the Company. Mr. Witherill was not appointed pursuant to any arrangement or understanding between him and any other person. There are no family relationships between Mr. Witherill and any director or executive officer of the Company. The Company did not enter into or materially amend any plan, contract, or arrangement that Mr. Witherill will participate in connection with his appointment. Also, effective May 24, 2022, Rick Gean resigned from his position as Interim Chief Financial Officer of the Company and accepted a position as a financial consultant to the Company. Mr. Gean had been appointed Interim Chief Financial Officer to assist the Company by overseeing the filing of its Form 10-K for the fiscal year ended July 31, 2021, which was filed on May 13, 2022. 
