The information set forth under Item 2.03 of this Current Report on Form 8-K is hereby incorporated by reference into this Item 1.01.

On September 21, 2009, we issued a Convertible Promissory Note (the "Note") to River Falls Financial Services, LLC., a Kentucky investment firm (the "Investor"), pursuant to which we issued the Note to the Investor in exchange for a line of credit with gross proceeds of $1.5 million. Under the Note the outstanding debt can be converted into Company common stock at a conversion rate of $0.05 per share. The Note will earn interest at 12% per annum on the balance utilized, and be due July 31, 2010, unless fully converted earlier. The applicable interest on the note is due monthly beginning October 1, 2009. There is already outstanding $300,000 under the Note. Under the Note the Investor may purchase an aggregate of 30,000,000 of our common shares at a price of $.05 per share, whether through conversion of outstanding debt, for cash, or any combination thereof. The share purchase rights expire on July 31, 2011.

The foregoing description of the Note does not purport to be complete and is subject to and qualified in its entirety by reference to the text of the Note, a copy of which is included as Exhibit 10.1, and incorporated herein by reference.

In connection with issuance of the Note, the Company, Steven Ludwig and Robert Marquitz entered into a Voting Agreement with Investor pursuant to which Ludwig and Marquitz agreed to vote their shares to ensure Investor designees hold two seats on our Board of Directors and that our Board of Directors will be limited to five members. The Voting Agreement terminates on the later of the date the Note is paid in full or the date Investor no longer holds, or enjoys the right to purchase, shares carrying 40% of the voting power for the election of our Board of Directors. A copy of the Voting Agreement is attached as Exhibit 9.01(d)ii

(a) Financial Statements None.

(b) Pro Forma Financial Statements None.

(d) Exhibits

       9.01(d)i  Convertible Promissory Note, dated September 21,
                 2009 issued by and between River Falls Financial
                 Services, LLC and Debut Broadcasting Corporation,
                 Inc.

9.01(d)ii Voting Agreement, dated September 21, 2009 issued by and between River Falls Financial Services, LLC and Debut Broadcasting Corporation, Inc.