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EX-10.1 - FIRST AMENDMENT AGREEMENT - Almost Never Films Inc.hlwd_ex101.htm

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

 

Date of Report (date of earliest event reported):

 

November 10, 2017

 

Almost Never Films Inc.

(Exact Name of Registrant as Specified in its Charter)

 

 Nevada

 

000-53049

 

26-1665960

 (State of incorporation)

 

 (Commission File Number)

 

 (IRS Employer Identification No.)

 

8605 Santa Monica Blvd #98258

West Hollywood, California 90069-4109

(Address of principal executive offices)

 

(213) 296-3005

 (Registrant's telephone number, including area code)

 

N/A

(Former Name or former address if changed from last report.)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 
 
 
 

 

ITEM 1.01 Entry into a Material Definitive Agreement

 

Almost Never Films Inc. (the “Company”) executed a First Amendment Agreement to its 6x picture Production and Distribution Agreement between Big Film Factory LLC (“Big Film” or “Prodco”) and Pure Flix Entertainment LLC (“PFE”), (the “Agreement”). The Agreement, dated as of November 10, 2017, memorializes the understanding with respect to the development, packaging, production, post-production and worldwide distribution of the films intended for initial and primary worldwide exhibition. The Company, a Nevada corporation, will be added as a party to the initial agreement by and between Big Film and PFE, wherever Big Film is referenced in connection with providing production services in conjunction with Big Film as well as providing production capital and cash following each of the first six (6) films produced under the Agreement (“6 Pictures”). Both Prodco and PFE agree to expand the defined role of “Prodco” in the Agreement, to add the Company to that definition, and grant the Company equally the same role and responsibilities heretofore only held by Big Film in connection with the 6 Pictures.

 

The Company will be accorded a company credit and producer credits equal to those of Big Film. Furthermore, Prodco will provide the Company, Big Film and PFE with Producer’s E & O Insurance for a term of not less than three (3) years from delivery of any such Picture to PFE, and with limits of $1 million/$3 million/ $25K SIR as are common to the television/SVOD industry.

 

Item 9.01 Financial Statements and Exhibits.

 

(d) Exhibits.

 

10.1

First Amendment Agreement, by and among the Company, Big Film and Prodco, dated November 10, 2017.

 

 

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SIGNATURES

 

 Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

November 15, 2017

 

Almost Never Films Inc.

 

By:

/s/ Danny Chan

 

Danny Chan

 

Title:

CEO

 

 

 

 

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