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): ~~June~~July 192, 2009

Red Mile Entertainment, Inc.

(Exact name of registrant as specified in its charter)

Delaware

(State or other jurisdiction of

incorporation)

000-50814

(Commission

File Number)

20-4441647

(IRS Employer

Identification Number)

223 San Anselmo Way, #3

San Anselmo, CA 94960

(Address of principal executive offices) (Zip Code)

(415) 339-4240

(Registrant's telephone number, including area code)

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:

o	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Section 1 – Registrant’s Business and Operations

Item 1.01. Entry into a Material Definitive Agreement.

As previously disclosed in the ~~Current~~Annual Report filed on ~~Form~~June ~~8-K~~19, ~~filed~~2008 by Red Mile Entertainment, Inc. (“Red Mile”) on ~~February~~Form ~~12,~~10-KSB ~~2008~~for ~~with~~ the ~~Securities~~fiscal ~~and Exchange~~year ~~Commission~~ended ~~(the “Commission”)~~March 31, ~~on February 11,~~ 2008, ~~Red~~MTV ~~Mile~~Networks, ~~entered into~~a andivision ~~uncommitted~~of ~~revolving~~Viacom ~~line~~International ofInc. ~~credit~~(“MTVN”) ~~agreement~~issued Red ~~(as~~Mile ~~amended~~a notice on ~~May~~March 7, 2008, terminating the ~~“Credit~~Merchandise License Agreement”) between ~~with~~MTVN ~~Tiger~~and ~~Paw~~Red ~~Capital~~Mile ~~Corporation,~~dated aMarch ~~corporation controlled~~28, by2005 ~~Mr.~~(the ~~Kenny~~“License ~~Cheung,~~Agreement”) pursuant ~~the~~to ~~owner~~which ofMTVN ~~approximately~~had ~~10.07%~~licensed ofto Red Mile~~’s outstanding~~ ~~common~~certain ~~stock~~rights ~~(“Tiger~~related ~~Paw”),~~to in the video ~~amount~~game ofentitled ~~$1,000,000~~“Jackass” (the “~~The Line~~Game”). A ~~The~~copy ~~Line is secured by all present and future assets~~ of ~~Red~~the ~~Mile~~License ~~pursuant~~Agreement towas afiled ~~security~~as ~~agreement~~Exhibit ~~between~~10.7 to Red Mile’s ~~and~~Annual ~~Tiger~~Report ~~Paw~~on ~~(the~~Form ~~“Security~~10-KSB, ~~Agreement”).~~filed ~~Concurrent~~on ~~with~~June ~~the closing of the Line~~19, 2008. Red Mile ~~issued~~and ~~a promissory~~MTVN ~~note~~were toalso ~~Tiger~~party ~~Paw~~to ~~obligating~~a ~~Red~~Game Development ~~Mile~~Agreement todated ~~pay~~June ~~Tiger~~18, ~~Paw~~2007 ~~on demand~~ (the ~~aggregate~~ ~~principal~~“Development ~~amount~~Agreement”) ofto develop the ~~advances~~Game. A ~~made~~dispute bylater ~~Tiger~~developed ~~Paw~~between to Red Mile ~~pursuant~~ toand MTVN regarding the ~~Line~~parties’ ~~(the~~rights ~~“Note”).~~and ~~Copies~~obligations ofunder the ~~Credit~~License Agreement, ~~the Note~~ and the ~~Security~~Development Agreement, ~~were~~and ~~filed~~on asMarch ~~Exhibits~~23, ~~10.1~~2009, ~~10.2~~Red ~~and~~Mile ~~10.3,~~filed ~~respectively,~~a complaint toagainst ~~Red~~MTVN ~~Mile’s~~in ~~Current~~the ~~Report~~Supreme onCourt ~~Form~~of ~~8-K~~New ~~filed~~York, ~~with~~alleging ~~the~~breach ~~Commission~~of oncontract ~~February~~and ~~12,~~intentional ~~2008~~interference with contract (the “Complaint”).

AsTo settle ~~previously~~all ~~disclosed~~claims inand ~~the~~disputes ~~Current~~related ~~Report~~to onthe ~~Form~~License ~~8-K~~Agreement, ~~filed~~the byGame, ~~Red Mile on May~~the ~~12,~~Development ~~2008~~Agreement ~~with~~and the ~~Commission~~Complaint, onRed ~~May~~Mile 7,and ~~2008,~~MTVN ~~Red~~have ~~Mile~~now entered into a ~~secured credit~~Settlement ~~agreement~~Agreement ~~with~~and ~~SilverBirch~~General ~~Inc.~~Release ~~(“SilverBirch”)~~dated June 22, in2009 (the ~~amount of~~“Settlement ~~CDN$750,000~~Agreement”). On ~~Concurrent~~June ~~with~~29, ~~the~~2009, ~~closing~~Red ofMile executed the ~~SilverBirch~~Settlement Agreement. On ~~credit~~July ~~agreement~~2, ~~Tiger~~ ~~Paw~~2009, ~~agreed~~counsel for MTVN first delivered to ~~subordinate~~Red Mile ~~CDN$750,000~~a copy of the ~~Line~~Settlement ~~(the “Subordination~~ Agreement~~”).~~ ~~Tiger~~signed ~~Paw~~by ~~also~~MTVN ~~agreed,~~and counsel. Pursuant ~~pursuant~~ to athe ~~Forbearance~~Settlement Agreement, ~~with~~MTVN has paid Red Mile $131,181.32 onand ~~May~~Red 7,Mile ~~2008~~has ~~(as~~returned ~~amended~~to onMTVN ~~November~~all 5,property ~~2008,~~and ~~the~~work ~~“Forbearance~~product ~~Agreement”),~~related ~~not~~ to ~~exercise~~the ~~any~~Game. The ~~demand~~foregoing ordescription ~~enforcement~~of ~~rights~~the ~~under~~terms ~~the~~of ~~Credit~~the Settlement Agreement ordoes ~~the~~not ~~Note~~purport ~~issued~~to bybe ~~Red~~complete ~~Mile~~and inis ~~connection~~qualified ~~with~~in ~~Credit Agreement~~its ~~until~~entirety ~~November~~by 7,reference ~~2008. Copies~~to of the ~~Subordination~~Settlement Agreement. The ~~and the~~Settlement ~~Forbearance~~ Agreement ~~were~~is ~~filed~~attached as ~~Exhibits~~Exhibit 10.51 ~~and 10.6, respectively,~~ to ~~Red Mile’s~~this Current Report on Form 8-K ~~filed with the Commission on May 12, 2008. The Subordination Agreement~~ and ~~Forbearance Agreement have now terminated according~~is toincorporated ~~their~~herein ~~terms~~by reference.

On June 19, 2009 (the “Effective Date”), Red Mile and Tiger Paw entered into a Second Amendment to Revolving Line of Credit Agreement and Promissory Note (the “Second Amendment”) pursuant to which all outstanding principal and accrued interest under the Credit Agreement, and all future advances and accrued interest will be due and payable on demand by Tiger Paw but in no event later than the first anniversary of the Effective Date. In addition, Tiger Paw is entitled, at its option, any time after the Effective Date, to convert all or part of the then-outstanding principal and accrued interest into shares of Red Mile’s common stock at a conversion price for each share of common stock equal to the average closing bid price for the common stock for the three trading days before the conversion date. The foregoing description of the Second Agreement does not purport to be complete and is subject to, and qualified in its entirety by, the full text of the Second Agreement, which is attached to this Current Report as Exhibit 10.1 and incorporated herein by reference.

Section 2 – Financial Obligations

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

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

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

Exhibit Number	Description
10.1	~~Second~~Copy ~~Amendment to Revolving Line~~ of ~~Credit~~Settlement Agreement and ~~Promissory~~General ~~Note~~Release bydated ~~and~~June 22, 2009 between Red Mile ~~Entertainment, Inc.~~ and ~~Tiger Paw Capital Corp~~MTVN.~~, dated June 19, 2009~~

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.

	Red Mile Entertainment, Inc.
	By:	/s/ Simon Price
		Simon Price
		Chief Executive Officer
Date: June 25, 2009
Date: July 9, 2009

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