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.