secwatch.observer — SEC 8-K summary
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Issuer:     NEXTNRG, INC. (NXXT)
CIK:        0001817004
Form:       8-K
Filed at:   2023-12-27T23:59:59+00:00
Accession:  0001493152-23-046254
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

EzFill borrows $165K from related party Next Charging via promissory note with conversion rights
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- Note for $165K with $10K OID; interest 8% for first 9 months then 18% per annum; matures Dec 27, 2024.
- Upon completing a capital raise of at least $3M, entire principal and interest become immediately due.
- Default triggers 150% penalty and conversion into common stock at greater of $1.23 or $0.20 per share (10-day avg).
- Lender's managing member Michael Farkas beneficially owns ~20% of EzFill common stock; related-party transaction.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1817004/000149315223046254/0001493152-23-046254-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1817004/000149315223046254/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-046254

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