secwatch.observer — SEC 8-K summary
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Issuer:     NEXTNRG, INC. (NXXT)
CIK:        0001817004
Form:       8-K
Filed at:   2024-05-14T23:59:59+00:00
Accession:  0001493152-24-018991
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

EzFill enters $165K promissory note with related-party NextNRG at 8%-18% interest
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- Note includes $15K original issue discount; principal $165K for working capital.
- Interest 8% first 9 months, then 18% per annum; maturity July 8, 2024 with auto 2-month extensions.
- Upon default, principal/interest multiplied by 150% due; conversion price floor $0.70, cap $3.14.
- 52,000 commitment fee shares issued to NextNRG; share issuance subject to Nasdaq 19.99% cap.
- NextNRG CEO Michael Farkas also beneficially owns ~20% of EzFill common stock.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1817004/000149315224018991/0001493152-24-018991-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1817004/000149315224018991/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-018991

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