RELATED PARTY TRANSACTIONS |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Related Party Transactions [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| RELATED PARTY TRANSACTIONS | NOTE 10. RELATED PARTY TRANSACTIONS
Related parties are natural persons or other entities that have the ability, directly or indirectly, to control another party or exercise significant influence over the party making financial and operating decisions. Related parties include other parties that are subject to common control or that are subject to common significant influences.
500 Limited
We paid 500 Limited for programming services provided to Loop Media in the amount of $0 and $0 for the three months ended June 30, 2025, and 2024, respectively, and $0 and $145,500 for the nine months ended June 30, 2025, and 2024, respectively.
500 Limited is an entity controlled by Liam McCallum, our former Chief Product and Technology Officer. Mr. McCallum stepped down from his role as Chief Product and Technology Officer effective May 31, 2024, and resigned as our advisor on December 31, 2024.
Excel Family Partners, LLLP (“Excel”)
For the nine months ended June 30, 2025, and 2024, we were a party to multiple debt and equity transactions with Excel, an entity managed by Bruce Cassidy, the Executive Chairman of our Board of Directors and our majority stockholder.
On June 18, 2025, Mr. Cassidy provided a working capital advance directly to the Company in the amount of $316,429.
See Note 8 – Debt and Note 11 – Stockholders’ Deficit for discussion on the following transactions:
Also see Note 12 – Stock Options, Restricted Stock Units (RSUs) and Warrants for discussion on the repricing and exercise of certain existing warrants and the issuance of prefunded warrants.
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