---
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"
generated_at: "2026-06-04T09:25:24.719347+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# NextTrip subsidiary issues $500K unsecured promissory note to CEO and Chairman

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-24-011008
- JSON: https://secwatch.observer/filing/0001493152-24-011008.json
- Plain text: https://secwatch.observer/filing/0001493152-24-011008.txt

## Key facts
- Debt Financings
  NextTrip, Inc. incurred loan of $500,000 with William Kerby and Donald Monaco at 7.5% simple interest per annum maturing February 28, 2025.
  - Instrument: loan
  - Principal: $500,000
  - Counterparty: William Kerby and Donald Monaco
  - Rate: 7.5% simple interest per annum
  - Maturity: February 28, 2025
  - Event: incurrence
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/788611/000149315224011008/0001493152-24-011008-index.htm
- Material Agreements
  NextTrip, Inc. entered into Promissory Note with William Kerby and Donald Monaco, together as holders valued at $500,000 (effective 2024-03-18).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: William Kerby and Donald Monaco, together as holders
  - Value: $500,000
  - Effective: 2024-03-18
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/788611/000149315224011008/0001493152-24-011008-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.