secwatch.observer — SEC 8-K summary
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Issuer:     OFF THE HOOK YS INC. (OTH)
CIK:        0002067767
Form:       8-K
Filed at:   2026-06-26T21:00:38+00:00
Accession:  0001493152-26-030328
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

NextBoat enters $2M inventory loan agreement at 15% interest with related-party lender
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- Signed Master Loan Agreement with RLLT Capital; initial $2.0M advance funded June 22, 2026 for pre-owned boat inventory.
- Loan terms: 15% simple interest p.a., 180-day maturity, 1% origination fee, and 5% profit participation on boat sale gross profit.
- Loans are unsecured, full recourse; NextBoat and Off The Hook Yacht Sales are jointly and severally liable.
- President Jason Ruegg personally guarantees and pledges $5M+ in NXB shares as security; he received no consideration.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/2067767/000149315226030328/0001493152-26-030328-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/2067767/000149315226030328/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-26-030328

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