secwatch.observer — SEC 8-K summary
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Issuer:     Starco Brands, Inc. (STCB)
CIK:        0001539850
Form:       8-K
Filed at:   2021-12-15T23:59:59+00:00
Accession:  0001437749-21-028656
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Starco Brands borrows $500K from CEO Ross Sklar via promissory note at 4% interest
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- Starco issued $500,000 promissory note to CEO Ross Sklar in exchange for cash advance.
- Note carries 4% annual interest, compounded monthly; matures December 13, 2023.
- Default interest rate increases to 10% simple interest if repayment missed at maturity.
- Company may prepay principal and accrued interest at any time without penalty.
- Insider transaction: CEO is both maker and payee; board director Darin Brown also signed.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1539850/000143774921028656/0001437749-21-028656-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1539850/000143774921028656/stcb20211214_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-21-028656

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