Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

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Condensed Consolidated Balance Sheets - USD ($)
Jul. 30, 2024
Dec. 31, 2023
Current Assets:    
Cash and cash equivalents $ 2,010,519 $ 1,761,225
Prepaid expenses and other assets 3,303,569 3,138,162
Inventory 13,213,265 10,675,540
Total Current Assets 27,399,209 25,235,590
Property and equipment, net 81,992 58,159
Operating lease right-of-use asset 575,889
Intangibles, net 29,990,142 31,362,388
Goodwill 26,689,391 26,689,391
Total Assets 84,736,623 83,345,528
Current Liabilities:    
Accounts payable 13,738,204 9,799,040
Other payables and accrued liabilities 3,468,226 2,476,186
Accrued interest, related party 5,681
Fair value of Share Adjustment 30,441,480 36,931,330
Treasury stock payable, current 65,700
Notes payable, $2,472,500 and $4,472,500 from related party, respectively 2,510,009 4,559,219
Line of Credit 3,835,247
Lease liability, current portion 60,816
Total Current Liabilities 50,218,735 57,672,403
Lease liability, net of current portion 517,746
Revolving loan, net of discounts 6,106,755
Total Liabilities 56,843,236 57,672,403
Commitments and Contingencies (Note 7)
Stockholders’ Equity:    
Preferred stock, $.001 par value; 230,000,000 shares authorized; no shares issued and outstanding, at June 30, 2024 and December 31, 2023, respectively
Additional paid in capital 98,666,629 75,130,223
Treasury stock at cost (328,500) (394,200)
Equity consideration payable 5,707,261
Accumulated deficit (79,791,629) (63,769,469)
Total Starco Brands’ Stockholders’ Equity 19,193,932 17,162,741
Non-controlling interest 8,699,455 8,510,384
Total Stockholders’ Equity 27,893,387 25,673,125
Total Liabilities and Stockholders’ Equity 84,736,623 83,345,528
Common Class A [Member]    
Stockholders’ Equity:    
Common stock value 647,432 488,926
Common Class B [Member]    
Stockholders’ Equity:    
Common stock value
Nonrelated Party [Member]    
Current Assets:    
Accounts receivable, related party 6,435,175 7,034,950
Related Party [Member]    
Current Assets:    
Accounts receivable, related party $ 2,436,681 $ 2,625,713