secwatch.observer — SEC 8-K summary
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Issuer:     Starco Brands, Inc. (STCB)
CIK:        0001539850
Form:       8-K
Filed at:   2023-01-05T23:59:59+00:00
Accession:  0001437749-23-000516
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Starco Brands enters $2M secured promissory note with CEO; issues warrants for 285,714 shares at $0.01
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- $2,000,000 secured promissory note issued to CEO Ross Sklar on Dec 29, 2022.
- Note carries floating interest rate of WSJ Prime + 4% (currently 11.5%), matures Aug 1, 2023.
- Warrants to purchase 285,714 shares of common stock at $0.01 per share, exercisable until Dec 29, 2027.
- Security agreement grants security interest in substantially all tangible and intangible personal property.
- Financing approved by disinterested directors to provide short-term liquidity for non-ordinary course transactions.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1539850/000143774923000516/0001437749-23-000516-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1539850/000143774923000516/stcb20221230_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-23-000516

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