Annual report pursuant to Section 13 and 15(d)

Note 4 - Notes Payable

Note 4 - Notes Payable
12 Months Ended
Dec. 31, 2021
Notes to Financial Statements  
Debt Disclosure [Text Block]



The Company had a financing loan for its Directors and Officers Insurance (“D&O”) in that was repaid in July 2020. In September 2021 the Company incurred a new D&O loan.  The new loan bears interest at 4.4% and requires monthly payments through June 2022. As of December 31, 2021 and 2020, the Company had D&O loan balances of $53,822 and $0, respectively.


During the fourth quarter of 2018, a third party loaned the Company $3,300 to pay for general operating expenses. The loan was unsecured, non-interest bearing and due on demand. This loan was forgiven year in the ended December 31, 2020 and a gain on the forgiveness of debt was recognized.


See Note 7 Related Party Transactions for loans to STCB from the Company's CEO.