EzFill enters $220K promissory note with Next Charging, related party, with 10% OID and conversion rights

NEXTNRG, INC.

$220K Note with $20K OID (10%), 8% interest for 9 months then 18%, due Feb 2024, auto-renewable.
Default triggers 150% penalty and conversion right at avg closing price over 10 trading days.
Michael Farkas, managing member of Next and ~20% EzFill owner, is related party; pending acquisition of Next.
Note accelerates if EzFill completes a capital raise of at least $3M.

item 1.01 item 3.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

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

NEXTNRG, INC. entered into Note with Next Charging, LLC ("Next") valued at $220,000 (effective 2023-12-04).

Action: entry
Counterparty: Next Charging, LLC ("Next")
Value: $220,000
Effective: 2023-12-04

Exact text from the filing

On December 4, 2023, the Company and Next Charging, LLC (“Next”) entered into a promissory note (the “Note”) for the sum of $220,000 (the “Loan”).

View on SEC.gov

33 material agreements filed in the last 30 days. Browse all material agreements →

NEXTNRG, INC. filing history →

Source: SEC EDGAR

accession 0001493152-23-043876

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.