debt
confidence high
sentiment neutral
materiality 0.35
Starco Brands issues $472,500 convertible promissory note to CEO Ross Sklar
Starco Brands, Inc.
- Principal of $472,500 funded via $300,000 cash advance and $172,500 payment of company costs.
- 4% annual interest, compounded monthly; matures February 14, 2024.
- CEO may convert note into common stock at $0.29 per share based on 10-day VWAP prior to issuance.
- Company can prepay note in whole or in part without penalty.