Loop Media Inc. Faces Financial Pressure as Lender Demands Immediate Repayment of $300,000 Loan Following Maturity Date Default

Loop Media, Inc., a Nevada corporation, recently entered into a Secured Non-Revolving Line of Credit Loan Agreement with various individuals and institutional lenders, effective May 10, 2023. This agreement allows Loop Media to access loans up to a total of $4.0 million, as documented in the Secured Non-Revolving Line of Credit Promissory Note issued on the same date. The loan is set to mature on May 10, 2025. The agreement includes a security interest in all of Loop Media's current and future assets. As of the maturity date, the principal balance, including accrued interest, was $889,000, owed to three remaining lenders. Additionally, due to a missed payment on the maturity date, Loop Media received a demand notice on June 10, 2025, from one of the lenders, Lender No. 1, for the repayment of $300,000, with the possibility of legal action if payment is not made within ten days.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Loop Media Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001641172-25-017405), on July 01, 2025, and is solely responsible for the information contained therein.