Loop Media, INC 8-K filings

Loop Media, Inc. and its subsidiary Retail Media TV, Inc. have filed for Chapter 7 bankruptcy, initiating liquidation proceedings.

Loop Media, Inc. has defaulted on a loan agreement, leading to a planned public auction of substantially all its assets and an intent to deregister its securities.

Loop Media, Inc. received notices of acceleration from Alliance Funding Group, demanding immediate payment of $268,035 within 15 days.

Loop Media, Inc. received a notice of default and acceleration for $1,000,476 in loans, due within seven days, following failure to make payments.

Loop Media, Inc. has received a formal demand for immediate payment of $361,800 from Cara Communications Corporation under a license agreement, due within five business days.

Loop Media, Inc. has received a demand letter from ASCAP accelerating a $1,175,000 payment obligation, making the full amount immediately due.

Loop Media, Inc. has disclosed multiple events of default on significant financial obligations, leading to demand notices and potential acceleration of over $3 million in debt from various lenders.

Loop Media, Inc. obtains an $800,000 subordinated secured loan from Agile Lending, LLC to refinance existing debt and support general operations.

Loop Media exchanged $1.103 million in debt for 26,261,905 shares of common stock with Excel Family Partners, reducing the company's debt and increasing its outstanding shares.

Loop Media, Inc. has entered into a subordinated loan agreement for $660,000 with Agile Lending, LLC, to refinance existing debt and provide working capital.

Loop Media, Inc. has dismissed Marcum LLP as its independent auditor and appointed Grassi & Co., CPAs, P.C. effective December 30, 2024.

Loop Media, Inc. has entered into agreements for two convertible notes totaling $127,200 with 1800 Diagonal Lending LLC to bolster its working capital.

Loop Media sold 2,127,659 shares of common stock for $100,000 in a private placement and released its full fiscal year 2024 and fourth quarter results, showing a decrease in revenue but improved bottom line.

Loop Media has entered into a new $3 million credit agreement and amended existing loan agreements, extending maturity dates and adjusting interest payment schedules.

Loop Media has reached a settlement with its senior lender, GemCap Solutions, resolving a dispute over loan defaults and canceling a planned auction of company property.

Loop Media is facing a potential asset sale after its lender rescinded a forbearance agreement, prompting the company to file for an emergency injunction.

Loop Media has filed for an emergency temporary restraining order against GemCap Solutions, LLC to prevent the foreclosure of its assets.

Loop Media received an acceleration notice from its senior lender demanding immediate payment of its revolving loan facility, though negotiations for a forbearance are underway.

Loop Media received a default notice from its senior lender due to the issuance of unsubordinated debt, potentially triggering cross-defaults on other loans.

Loop Media has entered into a convertible promissory note agreement for $2 million with the Joseph G. Bellino Trust, carrying a 30% annual interest rate.

Loop Media, Inc. has entered into multiple loan agreements totaling $575,700 to bolster its working capital.

Loop Media, Inc. reports the resignation of three directors and its CFO, the appointment of an interim CFO, and the extension of compensation deferrals for the board and certain executives.

Loop Media's shareholders approved an increase in authorized common stock from 150 million to 225 million shares at the 2024 Annual Meeting.

Loop Media intends to apply for uplisting its common shares to the OTCQB Venture Market in the United States.

Loop Media has entered into an agreement to sell future receipts for $700,000, with a repayment schedule commencing in September 2024.

Loop Media, Inc. and its subsidiary Retail Media TV, Inc. have entered into a subordinated business loan agreement for $525,000 with Agile Lending, LLC, to be repaid with interest over a period of approximately six months.

Loop Media, Inc. has decided to delist its common stock from the NYSE American due to a low share price, and will now trade on the OTC Pink Market.

Loop Media has received notice of delisting from the NYSE American due to its low stock price and will begin trading on the OTC Pink Current market.

Loop Media's Q3 2024 revenue decreased by 23% year-over-year to $4.4 million, while net loss improved to $(5.5) million due to cost-cutting measures.

Loop Media has amended its loan agreement, extending the maturity date by one year and adding Retail Media TV, Inc. as a co-borrower.