Business
The BeBop Channel Regroups Post Acquisition- Zilpin and Giggster Retractions
The BeBop Channel Regroups Post Acquisition- Zilpin and Giggster Retractions.
About this update from Bebop Channel Corporation
[{"type":"text","content":"The BeBop Channel Regroups Post AcquisitionNEW YORK, NY / / August 15, 2024 // The BeBop Channel Corporation (OTC PINK: BBOP), is closing the chapter on its 2023-2024 fiscal year after weathering the challenges associated with its 2023 Acquisition of Madavor Media LLC. Although those challenges ended with the termination of the Asset Purchase Agreement and the resolution of litigation occurring during this period, there were two positive outcomes emerging from the year:The return to our pre-acquisition financial condition of no debt, with the termination of the 3MM+ Asset Purchase Notes; and,A successful initiation and capability of AI generated print content, inspired by the print publications, on our streaming platforms – Roku, Amazon FireTV, AppleTV, AndroidTV and our Webapp via BeBoptv.com. This will open up the door for BeBop to convert and stream arts-related content that was initially published in print, to video.Our post acquisition activities will conclude, per settlement agreements, with the following statements:The BeBop Channel Corporation issues the following Retractions in connection with its recent Settlements with Zilpin Group, LLC/Jeffrey C. Wolk and Giggster Inc.Zilpin and WolkThe BeBop Channel Corp. hereby retracts all statements made as to the conduct of Jeffrey Wolk and Zilpin Group leading up to and continuing through and after BeBop’s purchase of Madavor Media, LLC. BeBop acknowledges that Mr. Wolk and Zilpin behaved honorably and met all their commitments to BeBop and to all Madavor’s other stakeholders, and that Mr. Wolk remains a valued shareholder of BeBop. The unfortunate allegations made about Mr. Wolk and Zilpin in BeBop’s prior filings and statements were inaccurate and regrettable. The parties have settled the dispute regarding the titles previously owned by Madavor Media, LLC.GiggsterThe BeBop Channel and I have decided to permanently drop the lawsuits we brought against Giggster, Yuri Baranov and Tyler Quiel and we will not start another lawsuit. We are not receiving any money in exchange for dropping the lawsuits. The allegations made against Giggster, Mr. Baranov and Mr. Quiel were unfortunate and were not proven. Accordingly, I am withdrawing all allegations and legal actions previously initiated against Giggster and its officers, and I will not pursue further lawsuits pertaining ...