Rivulet Films LLC entered into an agreement and plan of merger to acquire Bio-Matrix Scientific Group, Inc. (OTCPK:BMSN.D) from Mike Witherill, Debbie Rasmussen, Aaron Klusman, and others in a reverse merger transaction for $8.7 million on April 8, 2020. Upon its terms and subject to the conditions set forth in the merger agreement, all equitable interests of Rivulet Films then outstanding shall be converted into the right to receive 82.156 million shares of common stock of Bio-Matrix. As part of the merger, Rivulet Films hall be merged with and into Bio-Matrix and the separate existence of Rivulet Films shall cease. Post-acquisition, Bio-Matrix Scientific intending to rename Bio-Matrix as Rivulet Media, Inc. The merger agreement contains certain termination rights for both Parent and the Target. All fees and expenses incurred in connection with the merger Agreement will be paid by the party incurring such expenses, whether or not the merger is consummated. Mike Witherill will lead the new operating subsidiary film company while Aaron Klusman will be the Chief Executive Officer of Bio-Matrix. Consummation of the merger is subject to certain closing conditions, including, among others, (i) the accuracy of the representations and warranties made and the performance in all material respects of the covenants set forth in the merger agreement, (ii) approval of the merger agreement by the holders of a majority of the then outstanding Rivulet Media equity, (iii) the obtaining of any required consents, and (iv) the absence of a material adverse effect with respect to Rivulet Media. The merger is anticipated to close on April 10, 2020. Stephen R. Boatwright of Gallagher & Kennedy acted as legal advisor to Rivulet Films.

Rivulet Films LLC completed the acquisition of Bio-Matrix Scientific Group, Inc. (OTCPK:BMSN.D) from Mike Witherill, Debbie Rasmussen, Aaron Klusman, and others in a reverse merger transaction on April 13, 2020. Bio-Matrix issued 79.1 million shares in the transaction. Bio-Matrix's name was changed to Rivulet Media, Inc. on May 26, 2020.