secwatch.observer — SEC 8-K summary
======================================

Issuer:     Starco Brands, Inc. (STCB)
CIK:        0001539850
Form:       8-K
Filed at:   2023-08-11T23:59:59+00:00
Accession:  0001493152-23-027897
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Starco Brands consolidates $4M CEO debt into single note, extends maturity to Dec 2024
--------------------------------------------------------------------------------

- Consolidated 6 prior promissory notes from CEO Ross Sklar into a single $4M secured note dated Aug 11, 2023.
- Waived all events of default under prior notes; maturity extended to Dec 31, 2024, with auto-renewal to Mar 31, 2025.
- Interest rate set at WSJ Prime + 2% (currently 10.5%); default rate is Prime + 7% (currently 15.5%).
- CEO granted a security interest in company assets; prior security agreements superseded.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1539850/000149315223027897/0001493152-23-027897-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1539850/000149315223027897/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-027897

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