Loop Media, Inc. 10-K Cybersecurity GRC - 2024-12-12

Page last updated on December 12, 2024

Loop Media, Inc. reported their cybersecurity risk management and governance process in a yearly 10-K filed on 2024-12-12 17:22:29 EST.

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10-K filed on 2024-12-12

Loop Media, Inc. filed a 10-K at 2024-12-12 17:22:29 EST
Accession Number: 0001493152-24-049828

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Item 1C. Cybersecurity.

ITEM 1C. CYBERSECURITY. We recognize the critical importance of developing, implementing, and maintaining robust cybersecurity measures to safeguard our information systems and protect the confidentiality, integrity, and availability of our data. We have strategically integrated cybersecurity risk management into our broader risk management framework to promote a company-wide culture of cybersecurity risk management. This integration ensures that cybersecurity considerations are an integral part of our decision-making processes at every level. Our management team works closely with our IT team to continuously evaluate and address cybersecurity risks in alignment with our business objectives and operational needs and we provide ongoing education and training to our employees to understand and recognize cybersecurity risks. Our current cybersecurity risk assessment program consists of an annual review of our risks and policies. The program outlines governance, policies and procedures, and technology we use to oversee and identify risks from cybersecurity threats. We have security measures in place to protect our clients, customers, employees,‌ and vendor information and prevent data loss and other security breaches. We also only use third party software for accounting, billing and payroll that have successful SOC 1 type 2 compliance. In addition, we maintain business continuity, contingency, and recovery plans for use in the event of a cybersecurity incident by the administering of local and cloud based back up of files and emails. 46 We have multiple controls and processes in place in order to assess risks and to prevent breaches, some of which include: ● subscribing to a cybersecurity risk management program; ● utilizing an Email Banner for external emails, which assists us in identifying any phishing / impersonation email and which cannot be bypassed; ● utilizing firewall appliances with a security suite; ● providing endpoint security software for our team and ● utilizing Cloudflare for protecting and securing our cloud environments. Our senior management and our Board of Directors are aware of the critical nature of managing risks associated with cybersecurity threats. Our CEO is responsible for overseeing our business operations, which includes working with our IT personnel to oversee the day-to-day assessment and management of risks from cybersecurity threats, including the prevention, mitigation, detection, and remediation of cybersecurity threats to our Company. Our executive management team is responsible for updating the Board, as necessary, regarding any significant cybersecurity incidents, should any occur. Our Board may also receive periodic reports from management on our cybersecurity risks and cybersecurity risk management program. In the event of a cybersecurity incident, our CEO is equipped with a well-defined incident response plan. This plan includes immediate actions to mitigate the impact and long-term strategies for remediation and prevention of future incidents. To date, we have not encountered cybersecurity challenges that have materially impaired our operations or financial standing.

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