Loop Media, Inc.: debt financing — Loop Media receives default notices on three debt facilities, lenders demand payment or threaten acceleration

Loop Media, Inc.

May 2023 secured line of credit lender demanded $300k past due; failure to pay may trigger enforcement and 500 bps interest increase.
Bellino Trust declared default on $2M convertible note (30% interest) after missed June 1 payment; may accelerate repayment.
1800 Diagonal Lending demanded $286k (150% multiplier) under four notes after missed $79k payment; converted $35k into 2.65M shares.
Company faces potential acceleration, enforcement, and dilution from further conversions; no assurance of compliance.

item 2.04 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Loop Media, Inc. faced acceleration on loan with 1800 Diagonal Lending, LLC.

Instrument: loan
Counterparty: 1800 Diagonal Lending, LLC
Event: acceleration

Exact text from the filing

On June 20, 2025, in response to the Company’s failure to make payments due on June 16, 2025, in the aggregate amount of $79,260, which breach continued for five (5) days without cure, the Company received a notice of default and demand letter from the 1800 Diagonal Lender (the “ June 20 1800 Diagonal Lender Notice ”). The June 20 1800 Diagonal Lender Notice calls a default under the 1800 Diagonal Notes and, not accounting for the Conversions (defined below), demand was made for immediate payment of a sum representing 150% of the remaining outstanding princip

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Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Loop Media, Inc. faced acceleration on convertible notes of $2,000,000 with Bellino Trust at thirty percent (30%) per annum maturing the date that is twelve (12) months after the date of issue.

Instrument: convertible notes
Principal: $2,000,000
Counterparty: Bellino Trust
Rate: thirty percent (30%) per annum
Maturity: the date that is twelve (12) months after the date of issue
Event: acceleration

Exact text from the filing

the Company issued a Convertible Promissory Note to the Joseph G. Bellino Trust Dated November 30, 2023 (the “ Bellino Trust ”), in the principal amount of two million dollars ($2,000,000) (the “ Bellino Trust $2M Convertible Note ”). The Bellino Trust $2M Convertible Note accrues interest at thirty percent (30%) per annum, and unless converted into common stock

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Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Loop Media, Inc. faced acceleration on term loan of $300,000 with Lender No. 1 at twelve percent (12%) maturing 2025-05-10.

Instrument: term loan
Principal: $300,000
Counterparty: Lender No. 1
Rate: twelve percent (12%)
Maturity: 2025-05-10
Event: acceleration

Exact text from the filing

it at law, in equity, and pursuant to the applicable loan documents. The aggregate principal amount owed to Lender No. 1 on the Maturity Date was three hundred thousand dollars ($300,000). Pursuant to the terms of the May 2023 Secured Line of Credit Agreement, after the occurrence and during the continuance of an Event of Default thereunder (and after giving of

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Source: SEC EDGAR

accession 0001641172-25-017405

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