{"schema_version":"secwatch.filing_event.v1","accession":"0001493152-24-011008","form_type":"8-K","ticker":"NTRP","cik":"0000788611","company_name":"NextTrip, Inc.","filed_at":"2024-03-22T23:59:59+00:00","discovered_at":"2026-05-14T18:03:26.918993+00:00","generated_at":"2026-06-04T09:25:24.719347+00:00","sec_items":["1.01","2.03","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.5,"calibrated_materiality_score":0.5,"confidence":"high","headline":"NextTrip subsidiary issues $500K unsecured promissory note to CEO and Chairman","bullets":["Subsidiary NextTrip Holdings issued $500K unsecured line of credit to CEO William Kerby and Chairman Donald Monaco.","Initial advance of $125K from Monaco; additional advances allowed until May 31, 2024 up to $500K aggregate.","Interest at 7.5% simple per annum; note matures February 28, 2025 and is prepayable without penalty.","Related-party transaction approved by board including independent members; proceeds for general corporate purposes."],"urls":{"canonical":"https://secwatch.observer/filing/0001493152-24-011008","json":"https://secwatch.observer/filing/0001493152-24-011008.json","markdown":"https://secwatch.observer/filing/0001493152-24-011008.md","text":"https://secwatch.observer/filing/0001493152-24-011008.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/788611/000149315224011008/0001493152-24-011008-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/788611/000149315224011008/form8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-04T09:25:24.719347+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"c4b085dfdf1fe5ebbeace2add157b57232d50d5a","claim":"NextTrip, Inc. incurred loan of $500,000 with William Kerby and Donald Monaco at 7.5% simple interest per annum maturing February 28, 2025.","evidence_excerpt":"On March 18, 2024, NextTrip Holdings, Inc. (“NextTrip”), a wholly owned subsidiary of NextTrip, Inc. (the “Company”), issued an unsecured line of credit promissory note, in the principal amount of $500,000 (the “Promissory Note”), to William Kerby and Donald Monaco, together as holders, with an initial advance from Mr. Monaco of $125,000.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/788611/000149315224011008/0001493152-24-011008-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"loan"},{"label":"Principal","value":"$500,000"},{"label":"Counterparty","value":"William Kerby and Donald Monaco"},{"label":"Rate","value":"7.5% simple interest per annum"},{"label":"Maturity","value":"February 28, 2025"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"b9df20dab0fdab0d3c41f03d32e9ef193fb6e9ed","claim":"NextTrip, Inc. entered into Promissory Note with William Kerby and Donald Monaco, together as holders valued at $500,000 (effective 2024-03-18).","evidence_excerpt":"issued an unsecured line of credit promissory note, in the principal amount of $500,000 (the “Promissory Note”), to William Kerby and Donald Monaco, together as holders","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/788611/000149315224011008/0001493152-24-011008-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"William Kerby and Donald Monaco, together as holders"},{"label":"Value","value":"$500,000"},{"label":"Effective","value":"2024-03-18"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}