secwatch.observer — SEC 8-K summary
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Issuer:     NEXTNRG, INC. (NXXT)
CIK:        0001817004
Form:       8-K
Filed at:   2023-08-03T23:59:59+00:00
Accession:  0001493152-23-026625
Event type: other_material
Sentiment:  negative
Materiality: 0.75
Item codes: 1.01, 2.03, 3.02, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

EzFill board resignations, CFO appointment, and $440K related-party note
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- Three directors (Allen Weiss, Luis Reyes, Mark Lev) resigned July 28; no disagreement cited.
- Appointed Michael Handelman as CFO ($5,560 quarterly salary, no benefits) and Bennett Kurtz as independent director ($130k annual stock compensation).
- Entered $440k promissory note with Next Charging (managed by 24% owner Michael Farkas); 10% OID, 8% to 18% interest, due Oct 2, 2023.
- Note includes conversion right upon default at average closing price over 10 days; default penalty of 150%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1817004/000149315223026625/0001493152-23-026625-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1817004/000149315223026625/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-026625

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