{"schema_version":"secwatch.filing_event.v1","accession":"0001641172-25-017405","form_type":"8-K","ticker":null,"cik":"0001643988","company_name":"Loop Media, Inc.","filed_at":"2025-07-01T23:59:59+00:00","discovered_at":"2026-05-14T18:02:44.548466+00:00","generated_at":"2026-05-18T09:59:57.436693+00:00","sec_items":["2.04","9.01"],"event_type":"debt","sentiment":"negative","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"Loop Media receives default notices on three debt facilities, lenders demand payment or threaten acceleration","bullets":["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."],"urls":{"canonical":"https://secwatch.observer/filing/0001641172-25-017405","json":"https://secwatch.observer/filing/0001641172-25-017405.json","markdown":"https://secwatch.observer/filing/0001641172-25-017405.md","text":"https://secwatch.observer/filing/0001641172-25-017405.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1643988/000164117225017405/0001641172-25-017405-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1643988/000164117225017405/form8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-18T09:59:57.436693+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"0cad18342302014b89430e4129cfa138bab6ea4f","claim":"Loop Media, Inc. faced acceleration on loan with 1800 Diagonal Lending, LLC.","evidence_excerpt":"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","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1643988/000164117225017405/0001641172-25-017405-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"loan"},{"label":"Counterparty","value":"1800 Diagonal Lending, LLC"},{"label":"Event","value":"acceleration"}],"fact_type":"debt_financing"},{"claim_id":"0e46def3f4d753bc10429bc2d00f65c5e30a404b","claim":"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.","evidence_excerpt":"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","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1643988/000164117225017405/0001641172-25-017405-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"convertible notes"},{"label":"Principal","value":"$2,000,000"},{"label":"Counterparty","value":"Bellino Trust"},{"label":"Rate","value":"thirty percent (30%) per annum"},{"label":"Maturity","value":"the date that is twelve (12) months after the date of issue"},{"label":"Event","value":"acceleration"}],"fact_type":"debt_financing"},{"claim_id":"8bdcd6c6817f8577726e9b37caf5538068dbd4ba","claim":"Loop Media, Inc. faced acceleration on term loan of $300,000 with Lender No. 1 at twelve percent (12%) maturing 2025-05-10.","evidence_excerpt":"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","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1643988/000164117225017405/0001641172-25-017405-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"term loan"},{"label":"Principal","value":"$300,000"},{"label":"Counterparty","value":"Lender No. 1"},{"label":"Rate","value":"twelve percent (12%)"},{"label":"Maturity","value":"2025-05-10"},{"label":"Event","value":"acceleration"}],"fact_type":"debt_financing"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}