Loop Media, Inc. Announces the Filing of an Application for a Temporary Restraining Order Against GemCap Solutions, LLC
Loop Media (OTC: LPTV) announced filing an emergency temporary restraining order against its senior lender, GemCap Solutions, following GemCap's public announcement of a planned sale of Loop's personal property. The sale, scheduled for December 5, 2024, relates to an alleged default under loan agreements. Loop states it has been making regular scheduled payments and seeks to prevent GemCap from exercising default remedies and making public disclosures. The company vows to defend itself to protect its assets, employees, and partners.
Loop Media (OTC: LPTV) ha annunciato di aver presentato una richiesta di ordinanza restrittiva temporanea d'emergenza contro il proprio creditore principale, GemCap Solutions, a seguito dell'annuncio pubblico di GemCap riguardo a una vendita prevista dei beni personali di Loop. La vendita, programmata per il 5 dicembre 2024, si riferisce a un presunto inadempimento negli accordi di prestito. Loop afferma di aver effettuato pagamenti regolari e pianificati e cerca di impedire a GemCap di esercitare i rimedi per inadempienza e di fare divulgazioni pubbliche. L'azienda si impegna a difendersi per proteggere i propri beni, dipendenti e partner.
Loop Media (OTC: LPTV) anunció que ha presentado una orden de restricción temporal de emergencia contra su prestamista principal, GemCap Solutions, tras el anuncio público de GemCap sobre una venta planeada de la propiedad personal de Loop. La venta, programada para el 5 de diciembre de 2024, se relaciona con un presunto incumplimiento bajo los acuerdos de préstamo. Loop afirma que ha estado realizando pagos programados regularmente y busca evitar que GemCap ejerza remedios por incumplimiento y haga divulgaciones públicas. La empresa se compromete a defenderse para proteger sus activos, empleados y socios.
Loop Media (OTC: LPTV)는 GemCap Solutions의 공개 발표에 따라 주요 채권자에 대해 긴급 임시 금지 명령을 제출했다고 발표했습니다. GemCap은 Loop의 개인 자산 판매를 계획하고 있습니다. 이 판매는 2024년 12월 5일로 예정되어 있으며, 대출 계약에 따른 절차적 불이행과 관련이 있습니다. Loop은 정기적인 예정된 지불을 해왔으며 GemCap이 채무 불이행 조치를 취하고 공개적으로 발표하는 것을 방지하려고 합니다. 이 회사는 자산, 직원 및 파트너를 보호하기 위해 자신을 방어하겠다고 다짐합니다.
Loop Media (OTC: LPTV) a annoncé avoir déposé une demande d'ordonnance restrictive temporaire d'urgence contre son prêteur principal, GemCap Solutions, suite à l'annonce publique de GemCap concernant la vente prévue des biens personnels de Loop. La vente, prévue pour le 5 décembre 2024, concerne un présumé défaut dans le cadre des contrats de prêt. Loop déclare avoir effectué des paiements réguliers et prévus et cherche à empêcher GemCap d'exercer des recours en cas de défaut et de faire des divulgations publiques. L'entreprise s'engage à se défendre pour protéger ses actifs, ses employés et ses partenaires.
Loop Media (OTC: LPTV) hat die Einreichung eines notfallmäßigen vorläufigen Einschränkungsantrags gegen seinen Hauptgläubiger, GemCap Solutions, angekündigt, nachdem GemCap öffentlich eine geplante Veräußertung von Loops persönlichem Eigentum bekannt gegeben hat. Der Verkauf, der für den 5. Dezember 2024 angesetzt ist, betrifft einen angeblichen Verzug bei den Darlehensverträgen. Loop erklärt, dass es regelmäßige geplante Zahlungen geleistet hat und versucht, zu verhindern, dass GemCap Verzugsmittel ausübt und öffentliche Bekanntmachungen macht. Das Unternehmen verspricht, sich zu verteidigen, um seine Vermögenswerte, Mitarbeiter und Partner zu schützen.
- Company continues making regular scheduled loan payments
- Senior lender GemCap initiating foreclosure proceedings on company assets
- Alleged loan default could lead to loss of company property
- Legal dispute with primary lender indicates significant financial distress
- Risk of asset sale on December 5, 2024, threatens business continuity
In response to this action, on November 13, 2024, the Company filed an Application for an Emergency Temporary Restraining Order and Preliminary Injunction against GemCap to prevent GemCap from exercising or continuing to exercise any of its default remedies, to stay the Secured Party Public Sale of collateral set for December 5, 2024, and to order GemCap and all persons or entities acting in concert with it to cease any and all public disclosures, articles, press releases, interviews and announcements related to the Company.
Loop Media will vigorously defend itself and will take all actions necessary to protect its assets, its employees and its partners and to continue its mission to bring value to its shareholders.
About Loop Media, Inc.
Loop Media, Inc. ("Loop®") (OTC: LPTV) is a leading connected television (CTV) / streaming / digital out-of-home TV and digital signage platform optimized for businesses, providing music videos, news, sports, and entertainment channels through its Loop® TV service. Loop Media is the leading company in the
Loop® TV’s digital video content is streamed to millions of viewers in CTV / streaming / digital out of home locations including bars/restaurants, office buildings, retail businesses, college campuses, airports, among many other venues in
Loop® TV is fueled by one of the largest and most important premium short-form entertainment libraries that includes music videos, movie trailers, branded content, and live performances. Loop Media’s non-music channels cover a wide variety of genres and moods and include movie trailers, sports highlights, lifestyle and travel videos, viral videos, and more. Loop Media’s streaming services generate revenue from programmatic and direct advertising, and subscriptions.
To learn more about Loop Media products and applications, please visit us online at Loop.tv
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LinkedIn: https://www.linkedin.com/company/loopforbusiness/
Safe Harbor Statement and Disclaimer
This news release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including, but not limited to, Loop Media's expected performance, ability to compete in the highly competitive markets in which it operates, statements regarding Loop Media's ability to develop content and acquire future content and partners, the success of strategic actions Loop Media is taking, the impact of any such strategic transactions, its listing of its common stock on any trading platform and its ability to resolve disputes with vendors and lenders. Forward-looking statements give our current expectations, opinion, belief or forecasts of future events and performance. A statement identified by the use of forward-looking words including "will," "may," "expects," "projects," "anticipates," "plans," "believes," "estimate," "should," and certain of the other foregoing statements may be deemed forward-looking statements. Although Loop Media believes that the expectations reflected in such forward-looking statements are reasonable, these statements involve risks and uncertainties that may cause actual future activities and results to be materially different from those suggested or described in this news release. Investors are cautioned that any forward-looking statements are not guarantees of future performance and actual results or developments may differ materially from those projected. The forward-looking statements in this press release are made as of the date hereof. Loop Media takes no obligation to update or correct its own forward-looking statements, except as required by law, or those prepared by third parties that are not paid for by Loop Media. Loop Media's Securities and Exchange Commission filings are available at www.sec.gov.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241113139297/en/
Loop Media Press Contact
Kevin Mawardi
kevin@loop.tv
Source: Loop Media, Inc.
FAQ
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