debt
confidence high
sentiment negative
materiality 0.55
VPR Brands issues $100K promissory note to CEO Kevin Frija at 24% interest
VPR Brands, LP.
- Promissory note for $100,001 issued to CEO Kevin Frija on Sept 20, 2022.
- Interest rate of 24% per annum; maturity on Sept 20, 2023.
- Holder may deduct $500 per business day via ACH from company bank account.
- Note is unsecured; proceeds used for general corporate purposes.
- Related-party transaction: Frija is CEO, President, Chairman, and significant stockholder.