secwatch.observer — SEC 8-K summary
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Issuer:     VPR Brands, LP. (VPRB)
CIK:        0001376231
Form:       8-K
Filed at:   2022-01-31T23:59:59+00:00
Accession:  0000891092-22-000244
Event type: debt
Sentiment:  negative
Materiality: 0.35
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

VPR Brands borrows $100k from CEO at 24% interest with daily ACH repayment
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- Issued $100,001 promissory note to CEO Kevin Frija on January 25, 2022.
- Interest rate of 24% per annum, unsecured, maturity January 25, 2023.
- CEO may deduct $500 per business day via ACH from company account until repaid.
- Related-party transaction; Frija serves as CEO, President, CFO, and Chairman.
- Proceeds provide working capital; note carries high cost and daily cash impact.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1376231/000089109222000244/0000891092-22-000244-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1376231/000089109222000244/vprb8k1221.htm
  HTML page:      https://secwatch.observer/filing/0000891092-22-000244

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