debt
confidence high
sentiment neutral
materiality 0.30
Starco Brands amends $100K promissory note with CEO; extends maturity to July 2023, waives default interest
Starco Brands, Inc.
- First Amended and Restated Promissory Note for $100,000 principal with CEO Ross Sklar.
- Maturity extended to July 19, 2023; original note matured Jan 24, 2022.
- Default interest rate of 10% waived for period Jan-Jul 2022; interest set at 4%.
- Company may prepay without penalty; default rate 10% if not repaid at maturity.