secwatch.observer — SEC 8-K summary
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Issuer:     Starco Brands, Inc. (STCB)
CIK:        0001539850
Form:       8-K
Filed at:   2021-09-15T23:59:59+00:00
Accession:  0001437749-21-022124
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Starco Brands unit buys Whipshots/Whipshotz IP from Penguins Fly in revenue-sharing deal
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- Starco Brands' subsidiary Whipshots LLC acquires trademarks 'Whipshots'/'Whipshotz', domain names, social media from Penguins Fly, LLC.
- Purchase price is sliding-scale % of gross revenues from Whipshots/Whipshotz products over 7-year term; minimum payments (redacted).
- First minimum payment due at closing; 25% of subsequent payments held back until USPTO allowance of Whipshots trademark.
- Seller provides non-compete/non-solicitation covenants; transaction effective August 24, 2021; pricing details filed under confidential treatment.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1539850/000143774921022124/0001437749-21-022124-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1539850/000143774921022124/stcb20210914_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-21-022124

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer