Note 11 - Subsequent Events |
12 Months Ended |
|---|---|
Dec. 31, 2021 | |
| Notes to Financial Statements | |
| Subsequent Events [Text Block] |
NOTE 11 – SUBSEQUENT EVENTS
Management has evaluated subsequent events pursuant to the requirements of ASC Topic 855, from the balance sheet date through the date the financial statement were issued, and has determined that the following subsequent events exist:
On February 14, 2022, STCB executed a promissory note in favor of Ross Sklar, CEO, in the principal sum of $472,500, in exchange for a cash advance in the amount of $300,000 and payment of Company costs in the amount of $172,500. As with the other notes between the Company and our CEO, the note bears interest at 4% per annum, is unsecured, and matures two years from the original date of issuance. This note may also convert into shares of Company common stock at the 10 day volume weighted average trading price of the Company common stock for the 10 day period prior to the issuance of the note, which has been calculated as $0.29 per share.
|