---
schema_version: "secwatch.filing_event.v1"
accession: "0001515971-23-000111"
form_type: "8-K"
ticker: null
cik: "0001164256"
company_name: "DAYBREAK OIL & GAS, INC."
filed_at: "2023-08-01T23:59:59+00:00"
generated_at: "2026-06-12T17:01:13.966954+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.2
calibrated_materiality_score: 0.2
confidence: "high"
source: SEC EDGAR
---

# Daybreak Oil and Gas enters $60K zero-interest promissory note with CEO

## Summary
- Issued $60,000 promissory note to Chairman/CEO James F. Westmoreland on July 27, 2023.
- Note matures July 27, 2024, carries no interest, fees, or penalties; prepayable anytime.
- Transaction approved by board and Nominating and Corporate Governance Committee under related-party policy.

## SEC filing metadata
- accession: 0001515971-23-000111
- form_type: 8-K
- cik: 0001164256
- company_name: DAYBREAK OIL & GAS, INC.
- filed_at: 2023-08-01T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.2
- calibrated_materiality_score: 0.2
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1164256/000151597123000111/0001515971-23-000111-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1164256/000151597123000111/dbrm8k073123.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001515971-23-000111
- JSON: https://secwatch.observer/filing/0001515971-23-000111.json
- Plain text: https://secwatch.observer/filing/0001515971-23-000111.txt

## Key facts
- Debt Financings
  DAYBREAK OIL & GAS, INC. incurred loan of $60,000.00 with James F. Westmoreland at no interest maturing July 27, 2024.
  - Instrument: loan
  - Principal: $60,000.00
  - Counterparty: James F. Westmoreland
  - Rate: no interest
  - Maturity: July 27, 2024
  - Event: incurrence
  source text: Note (the “Agreement”) with James F. Westmoreland, the Company’s Chairman, President and Chief Executive Officer. As Consideration for the aggregate principal amount of $60,000.00 (the “Note”) The Note has a maturity date of July 27, 2024, and carries no interest, fees or penalties. The Company may prepay the Note at any time. The Agreement and the Note
  evidence_url: https://www.sec.gov/Archives/edgar/data/1164256/000151597123000111/0001515971-23-000111-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.