secwatch.observer — SEC 8-K summary
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Issuer:     NEXTNRG, INC. (NXXT)
CIK:        0001817004
Form:       8-K
Filed at:   2023-09-06T23:59:59+00:00
Accession:  0001493152-23-031879
Event type: debt
Sentiment:  negative
Materiality: 0.55
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

EzFill issues $165K promissory note to Next Charging; 10% OID, 8% interest
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- Principal $165,000 with $15,000 original issue discount (10% of face).
- Interest 8% for first 9 months, then 18% on entire balance; maturity Oct 30, 2023 with auto 2-month extensions.
- Note becomes immediately due if company raises $3M+ capital.
- Default triggers 150% penalty on outstanding and conversion right at 10-day average closing price.
- Next Charging managed by Michael Farkas, who owns ~24% of EZFL; pending Exchange Agreement to acquire Next.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1817004/000149315223031879/0001493152-23-031879-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1817004/000149315223031879/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-031879

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