secwatch.observer — SEC 8-K summary
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Issuer:     NEXTNRG, INC. (NXXT)
CIK:        0001817004
Form:       8-K
Filed at:   2023-09-07T23:59:59+00:00
Accession:  0001493152-23-031974
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

EzFill issues $220K promissory note to related party Next Charging with conversion rights
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- Note principal $220K with 10% OID ($20K); interest 8% for first 9 months then 18% pa.
- Maturity Nov 6, 2023, auto-extendable in 2-month increments unless Next gives 10-day notice.
- Upon $3M+ capital raise, entire note due; default triggers 150% penalty and conversion into common stock at avg closing price.
- Michael Farkas, managing member of Next, owns ~24% of EzFill common stock; pending acquisition of Next not yet closed.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1817004/000149315223031974/0001493152-23-031974-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1817004/000149315223031974/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-031974

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