AVOI to acquire Rivulet Media assets for 90.8M shares and $10.1M cash; Rivulet shareholders to control 88.24%

Rivulet Entertainment, Inc.

Purchase consideration: 90,784,800 shares of AVOI common stock and $10,069,000 cash; closing by April 10, 2024.
Upon closing, Rivulet shareholders will own 88.24% of AVOI, resulting in a change of control.
AVOI placed 7.5M shares at $0.40 to a single investor for $3.0M to fund acquisition costs and debts.
AVOI disbursed $2.6M to Rivulet on March 1, 2024 as part of the acquisition cost.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Rivulet Entertainment, Inc. entered into Asset Purchase Agreement with Rivulet Media, Inc. valued at 90,784,800 shares of common stock of the Company, $0.001 par value per share, and $10,069,000 (effective 2024-03-01).

Action: entry
Agreement: asset purchase
Counterparty: Rivulet Media, Inc.
Value: 90,784,800 shares of common stock of the Company, $0.001 par value per share, and $10,069,000
Effective: 2024-03-01

Exact text from the filing

On March 1, 2024, Advanced Voice Recognition Systems, Inc., a Nevada corporation (“the Company”), and Rivulet Media, Inc., a Delaware corporation (Rivulet), collectively the Parties, entered into an Asset Purchase Agreement (the “Purchase Agreement")

View on SEC.gov

739 material agreements filed in the last 30 days. Browse all material agreements →

Source: SEC EDGAR

accession 0001376474-24-000128

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.