---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-26-016197"
form_type: "8-K"
ticker: "NXXT"
cik: "0001817004"
company_name: "NEXTNRG, INC."
filed_at: "2026-04-10T23:59:59+00:00"
generated_at: "2026-05-15T06:42:01.665748+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# NextNRG secures ~$2.3M in high-cost secured debt; includes convertible note and term loan

## Summary
- Issued $1.724M senior secured convertible note to Leviston at 10% interest, maturing Oct 1, 2026; purchase price $1.552M after $172,444 OID.
- Granted Leviston 243,300 shares of common stock as additional consideration for the note.
- Cashera Private Credit provided $750,000 term loan at ~173% APR, net proceeds $712,500, secured by all assets and personally guaranteed by CEO Michael Farkas.
- Both loans are first-priority secured; default triggers automatic 150% balance increase and 18% default interest.

## SEC filing metadata
- accession: 0001493152-26-016197
- form_type: 8-K
- ticker: NXXT
- cik: 0001817004
- company_name: NEXTNRG, INC.
- filed_at: 2026-04-10T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1817004/000149315226016197/0001493152-26-016197-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1817004/000149315226016197/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-26-016197
- JSON: https://secwatch.observer/filing/0001493152-26-016197.json
- Plain text: https://secwatch.observer/filing/0001493152-26-016197.txt

## Source-grounded claims
- claim_id: f8f2cad4a9c35b83ef7b9bfb634fda3155813c11
  claim: NEXTNRG, INC. incurred convertible notes of $1,724,444 with Leviston Resources, LLC at 10% maturing October 1, 2026.
  evidence_excerpt: 2026 (the “Leviston SPA”), pursuant to which the Company agreed to sell, and Leviston agreed to purchase, a senior secured convertible promissory note in the principal amount of $1,724,444 (the “Leviston Note”) for a purchase price of $1,552,000. The Leviston Note carries an original issue discount of $172,444. Pursuant to the terms of the Leviston SPA, the Company
  evidence_url: https://www.sec.gov/Archives/edgar/data/1817004/000149315226016197/0001493152-26-016197-index.htm
- claim_id: 4d9edc2825c01acadba61835b5be774d97f97912
  claim: NEXTNRG, INC. entered into Leviston SPA with Leviston Resources, LLC valued at principal amount of $1,724,444 (effective 2026-04-01).
  evidence_excerpt: On April 1, 2026, NextNRG, Inc. (the “Company”) and Leviston Resources, LLC (“Leviston”) entered into a Securities Purchase Agreement dated as of April 1, 2026 (the “Leviston SPA”), pursuant to which the Company agreed to sell, and Leviston agreed to purchase, a senior secured convertible promissory note in the principal amount of $1,724,444 (the “Leviston Note”) for a purchase price of $1,552,000.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1817004/000149315226016197/0001493152-26-016197-index.htm

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