secwatch.observer — SEC 8-K summary
======================================

Issuer:     NEXTNRG, INC. (NXXT)
CIK:        0001817004
Form:       8-K
Filed at:   2025-05-09T23:59:59+00:00
Accession:  0001641172-25-009484
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

NextNRG enters into two promissory notes with CEO for $712,000 at 12% interest
------------------------------------------------------------------------------

- Michael D. Farkas, CEO and majority shareholder, lends $600,000 (May 5 Note) and $112,000 (May 9 Note) for working capital.
- Both notes carry 12% fixed interest and mature earlier of one year or cumulative capital raise of $4 million.
- Notes issued with original issue discount of $72,000 and $12,000 respectively, reflecting effective higher cost.
- The CEO is the lender, making this a related-party transaction; proceeds used for working capital.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1817004/000164117225009484/0001641172-25-009484-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1817004/000164117225009484/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001641172-25-009484

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer