NEXTNRG, INC. (NXXT): debt financing — EzFill Q2 revenue $6.1M (+63% YoY); net loss narrows to $2.5M; enters $110K note with related party

NEXTNRG, INC.

2023-Q2 EPS reported -$1.41 revenue$11,361,995

Revenue $6.1M, up 63% from $3.8M; gallons delivered 1.58M (+102% YoY).
Net loss $(2.5M) vs $(3.9M) prior year; loss per share $(0.71) improved from $(1.18).
Adjusted EBITDA loss $(1.5M) compared to $(3.0M) in Q2 2022.
Entered $110K promissory note with Next Charging (managing member owns 24% of EZFL); OID 10%, 8% interest first 9 months then 18%.
Limited cash $1.4M; relying on related party loans to fund operations.

item 1.01 item 2.02 item 2.03 item 3.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

NEXTNRG, INC. incurred loan of $110,000 with Next Charging, LLC at 8% per annum for the first nine months, afterward, the Note will begin to accrue maturing October 23, 2023.

Instrument: loan
Principal: $110,000
Counterparty: Next Charging, LLC
Rate: 8% per annum for the first nine months, afterward, the Note will begin to accrue
Maturity: October 23, 2023
Event: incurrence

Exact text from the filing

On August 23, 2023, EzFill Holdings, Inc. (the “Company” or “Borrower”) and Next Charging, LLC (“Next”) entered into a promissory note (the “Note”) for the sum of $110,000 (the “Loan”).

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

NEXTNRG, INC. reported the three-month period ended June 30, 2023 results: revenue $6,130,661, net income $(2,468,811), EPS $(0.71) per share.

Period: the three-month period ended June 30, 2023
Revenue: $6,130,661
Net income: $(2,468,811)
EPS: $(0.71) per share
Result: reported results

Exact text from the filing

EzFill Holdings, Inc. (“EzFill” or the “Company”) (NASDAQ: EZFL), a pioneer and emerging leader in the mobile fueling industry, announced today its financial results for the three-month period ended June 30, 2023 (“2Q23” or “second quarter 2023”). Q2 23 Highlights (in USD, except gallons delivered) Q2 2023 Q2 2022 Financial Highlights Revenue 6,130,661 3,754,431 Net loss (2,468,811 ) (3,872,670 )

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

NEXTNRG, INC. entered into Note with Next Charging, LLC valued at $110,000 (effective 2023-08-23).

Action: entry
Agreement: credit facility
Counterparty: Next Charging, LLC
Value: $110,000
Effective: 2023-08-23

Exact text from the filing

On August 23, 2023, EzFill Holdings, Inc. (the “Company” or “Borrower”) and Next Charging, LLC (“Next”) entered into a promissory note (the “Note”) for the sum of $110,000 (the “Loan”).

View on SEC.gov

10 debt financings filed in the last 30 days. Browse all debt financings →

NEXTNRG, INC. filing history →

Source: SEC EDGAR

accession 0001493152-23-030092

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