debt
confidence high
sentiment negative
materiality 0.40
VPR Brands issues $100,001 promissory note to CEO Kevin Frija at 24% interest
VPR Brands, LP.
- Company issued $100,001 unsecured promissory note to CEO/Chairman Kevin Frija, maturing Oct 8, 2022.
- Interest at 24% per annum; holder may deduct $500 per business day via ACH until repaid.
- Note is a related-party debt instrument; terms reflect high cost of capital.
- Proceeds not specified; note appears to fund short-term working capital needs.