secwatch.observer — SEC 8-K summary
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Issuer:     NEXTNRG, INC. (NXXT)
CIK:        0001817004
Form:       8-K
Filed at:   2023-12-06T23:59:59+00:00
Accession:  0001493152-23-043876
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1817004/000149315223043876/0001493152-23-043876-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1817004/000149315223043876/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-043876

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