STWC Holdings, Inc. (OTCPK:STWC) has entered into an agreement with Richland Fund LLC for issue of unsecured 15% promissory note on December 7, 2018. The note matures on March 7, 2019 and bears interest of 15% per annum, payable monthly, which increases to 20% upon an event of default. In the event of a capital raise by the company, all proceeds raised will be first applied to repayment of the note. Interest has to be paid on the first day of each month on the principal amount from the original issuance date and thereafter until the note is paid in full. Interest shall be calculated on the basis of a 365-day year. On the same date, the company issued notes for gross proceeds of $25,000 in its first tranche.