secwatch.observer — SEC 8-K summary
======================================

Issuer:     NEXTNRG, INC. (NXXT)
CIK:        0001817004
Form:       8-K
Filed at:   2024-02-12T23:59:59+00:00
Accession:  0001493152-24-005903
Event type: debt
Sentiment:  neutral
Materiality: 0.40
Item codes: 1.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

EzFill Holdings enters $165,000 promissory note with Next Charging, LLC at 8%/18% interest
--------------------------------------------------------------------------------

- Promissory note of $165,000 with $15,000 original issue discount for working capital.
- Interest rate 8% per annum for first nine months, then 18%; maturity April 7, 2024 with automatic 2-month extensions.
- Upon default, unpaid principal plus interest multiplied by 150% due; conversion right at VWAP or $0.70 floor.
- Managing member Michael Farkas of Next also beneficially owns ~20% of EzFill common stock.
- Loan may accelerate immediately if EzFill raises at least $3,000,000 in capital.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1817004/000149315224005903/0001493152-24-005903-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1817004/000149315224005903/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-005903

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