secwatch.observer — SEC 8-K summary
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Issuer:     NEXTNRG, INC. (NXXT)
CIK:        0001817004
Form:       8-K
Filed at:   2023-11-22T23:59:59+00:00
Accession:  0001493152-23-042492
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

EzFill enters $220K promissory note with related party Next Charging with conversion rights
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- Issued $220K promissory note to Next Charging, LLC; managing member Michael Farkas owns ~20% of EzFill.
- Note has 10% OID ($20K); interest 8% for 9 months then 18% per annum; maturity Jan 21, 2024 with auto 2-month extensions.
- Default triggers 150% penalty and conversion right at 10-day average closing price.
- Principal and interest become immediately due if EzFill raises at least $3M in capital.
- Note is part of pending Exchange Agreement to acquire Next Charging (closing not yet occurred).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1817004/000149315223042492/0001493152-23-042492-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1817004/000149315223042492/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-042492

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