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    STCB   US85526F2011

STARCO BRANDS, INC.

(STCB)
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STARCO BRANDS, INC. : Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant, Financial Statements and Exhibits (form 8-K)

09/23/2021 | 05:06pm EST

Item 1.01 Entry into a Material Definitive Agreement

The disclosures set forth in Item 2.03 are hereby incorporated into this Item 1.01 by reference.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

On September 17, 2021, Starco Brands, Inc. (the "Company") issued a promissory note in favor of Ross Sklar, in the principal sum of $500,000 (the "Promissory Note"), in exchange for a cash advance in the same amount. The Promissory note carries a guaranteed 4% interest rate, matures on September 17, 2023, and has a 10% interest rate on a default of repayment at maturity.

The foregoing summary of the terms of the Agreement does not purport to be complete and is qualified in its entirety by reference to the Promissory Note, a copy of which is filed as Exhibit 10.1 to this Report and is incorporated herein by reference. Capitalized terms used in this Item 2.03 but not otherwise defined shall have the meaning given to such terms in the Promissory Note.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits.

The following exhibits are filed with this Current Report on Form 8-K:

Exhibit Number    Description
10.1                Promissory Note issued in favor of Ross Sklar, dated September
                  17, 2021.
104               Cover Page Interactive Data File - the cover page XBRL tags are
                  embedded within the Inline XBRL document



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