secwatch.observer — SEC 8-K summary
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Issuer:     NEXTNRG, INC. (NXXT)
CIK:        0001817004
Form:       8-K
Filed at:   2023-09-15T23:59:59+00:00
Accession:  0001493152-23-032763
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

EzFill enters $110K promissory note with Next Charging; 8% interest, 18% after 9 months; maturity Nov 13, 2023
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- Note principal $110,000 with $10,000 OID; net proceeds $100,000.
- Interest 8% per annum for first 9 months then 18% thereafter; maturity Nov 13, 2023 with auto 2-month extensions.
- Default triggers 150% penalty and conversion right for Next at 10-day average closing price.
- Lender's managing member Michael Farkas holds ~24% of EzFill common; pending acquisition of Next by EzFill.
- Loan immediately due upon company completing a capital raise of at least $3,000,000.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1817004/000149315223032763/0001493152-23-032763-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1817004/000149315223032763/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-032763

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