EX-10.23
from S-1/A
2 pages
April 4, 2019 Thomas Boyle, CFO Psyop Media Company 45 Howard Street Fl 5 New York, Ny 10013 Re: Loans 2015040008, 2012020012 Dear Tom: You Have Made US Aware That the Financial Results for Fiscal Year Ended 12/31/18 Revealed That You Are in Violation of Financial Covenant Requirements of Your Loan Documents. Psyop Media Company, LLC and Subsidiaries on a Combined Basis Have Violated the Following Covenants: ● Maintain a Minimum Debt Service Coverage Ratio (“Dscr”), as Defined in Your Loan Documents of at Least 1.25x ● Maintain a Maximum Leverage Ratio (“Mlr”), as Defined in Your Loan Documents of No More Than 2.00x
12/34/56
