secwatch.observer — SEC 8-K summary
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Issuer:     NEXTNRG, INC. (NXXT)
CIK:        0001817004
Form:       8-K
Filed at:   2023-04-10T23:59:59+00:00
Accession:  0001493152-23-011742
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

EzFill enters $262.5K promissory note with related party; 13% interest, potential 2.5M share penalty
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- Principal $262,500 includes $12,500 OID; matures April 4, 2024.
- Interest 5% for first month then 13% per annum thereafter.
- Lender is The Farkas Group, controlled by Michael Farkas, ~26% shareholder (related party).
- Note becomes immediately due if EzFill raises $750K+ in debt or equity.
- Failure to repay within 48 hours of maturity/early trigger requires issuing 2.5M common shares.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1817004/000149315223011742/0001493152-23-011742-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1817004/000149315223011742/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-011742

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer