secwatch.observer — SEC 8-K summary
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Issuer:     Starco Brands, Inc. (STCB)
CIK:        0001539850
Form:       8-K
Filed at:   2023-03-09T23:59:59+00:00
Accession:  0001493152-23-007149
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Starco Brands enters $800K secured note with CEO; issues 114,286 warrants at $0.01
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- Borrowed $800,000 from CEO Ross Sklar via secured promissory note due July 1, 2023.
- Interest rate = Prime Rate + 4% (currently 11.75%); default rate +5%.
- Warrants for 114,286 shares of Class A common stock at $0.01 per share, expiring March 2, 2028.
- Proceeds used for short-term liquidity for non-ordinary course business and subsidiary.
- Security agreement covers substantially all assets (excluding IP) to secure the note.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1539850/000149315223007149/0001493152-23-007149-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1539850/000149315223007149/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-007149

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