Business
Termination of Material Definitive Agreement
Termination of Material Definitive Agreement.
About this update from Bebop Channel Corporation
[{"type":"text","content":"Termination of Material Definitive AgreementAs of February 29, 2024, The BeBop Channel Corporation (OTC PINK: BBOP) and ZilpinGroup, LLC settled a Breach of Contract dispute related to BeBop's February 2023 acquisitionof Madavor Media, LLC which became a wholly-owned subsidiary of BeBop. The settlement (Entry into a Material Definitive Agreement) has resulted in the termination (Termination of a Material Definitive Agreement) of both Zilpin’s $3 Million Note that was coming due in 2026 and the $424,322 that had remained on BeBop’s Promissory note payable to Zilpin; all of Madavor's magazine titles were assigned by the transfer to a new Limited Liability Company,TITLES JCMJ, LLC thus resulting in the removal of all remaining Madavor titles from BeBop and transferring those titles to that entity. The titles include JazzTimes, Diabetes Self-Management, The Writer, Outdoor Photographer, Imaging Resource, and Birdwatching (The Women Create Brands and Plane and Pilot which filled out the publisher’s roster uponBeBop’s acquisition of Madavor were previously sold by BeBop in 2023).The result of these actions has eliminated all prior Notes from The BeBop Channel Corporation's liabilities.By:/s/ Gregory Charles RoyalGregory Charles Royal, Interim CEO/s/ Sue Veres RoyalSue Veres Royal, COO","length":2624,"tagName":"div"}]