{"schema_version":"secwatch.filing_event.v1","accession":"0001641172-25-012304","form_type":"8-K","ticker":"NXXT","cik":"0001817004","company_name":"NEXTNRG, INC.","filed_at":"2025-05-23T23:59:59+00:00","discovered_at":"2026-05-14T18:02:49.851458+00:00","generated_at":"2026-05-20T15:04:32.007761+00:00","sec_items":["1.01","2.03","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.55,"calibrated_materiality_score":0.55,"confidence":"high","headline":"NextNRG borrows $420K from CEO via two promissory notes; extends Alcourt note maturity","bullets":["CEO Michael D. Farkas lends company $224K (May 19) and $196K (May 20), both at 12% interest for working capital.","Notes mature in one year or upon $4M cumulative capital raise; issued with OID of $24K and $21K respectively.","Alcourt Note ($1M, 15%) extended to May 31, 2025, in exchange for 26,000 shares and a $150K extension fee.","Transactions are related-party; Farkas is CEO, Chairman, and majority shareholder of NextNRG."],"urls":{"canonical":"https://secwatch.observer/filing/0001641172-25-012304","json":"https://secwatch.observer/filing/0001641172-25-012304.json","markdown":"https://secwatch.observer/filing/0001641172-25-012304.md","text":"https://secwatch.observer/filing/0001641172-25-012304.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1817004/000164117225012304/0001641172-25-012304-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1817004/000164117225012304/form8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-20T15:04:32.007761+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"06d59dee57b4ddf46bf187ab12d311e0d2e9d0cc","claim":"NEXTNRG, INC. incurred loan of $196,000 with Michael D. Farkas at 12% per annum maturing the earlier of (1) May 20, 2026 or (ii) the date the Company completes a cumulative capital raise of at least $4 million following the date of the May 20 Note.","evidence_excerpt":"On May 20, 2025, the Company and Mr. Farkas entered into a promissory note (the “May 20 Note”) for the principal sum of $196,000 to be used for the Company’s working capital needs. The unpaid principal balance of the May 20 Note has a fixed interest rate of 12% per annum and matures on the earlier of (1) May 20, 2026 or (ii) the date the Company completes a cumulative capital raise of at least $4 million following the date of the May 20 Note.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1817004/000164117225012304/0001641172-25-012304-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"loan"},{"label":"Principal","value":"$196,000"},{"label":"Counterparty","value":"Michael D. Farkas"},{"label":"Rate","value":"12% per annum"},{"label":"Maturity","value":"the earlier of (1) May 20, 2026 or (ii) the date the Company completes a cumulative capital raise of at least $4 million following the date of the May 20 Note"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"312f72fdc4fd34f7ea845b31f7e92d57513d27c8","claim":"NEXTNRG, INC. amended loan of $1,000,000 with Alcourt LLC at 15% per annum maturing May 31, 2025.","evidence_excerpt":"As previously reported on a Current Report on Form 8-K dated April 4, 2025, the Company issued a promissory note to Alcourt LLC (“Alcourt”) in the principal sum of $1,000,000 at an interest rate of 15% per annum (the “Alcourt Note”). The maturity date of the Alcourt Note was April 30, 2025. On May 21, 2025, the Company and Alcourt entered into that","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1817004/000164117225012304/0001641172-25-012304-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"loan"},{"label":"Principal","value":"$1,000,000"},{"label":"Counterparty","value":"Alcourt LLC"},{"label":"Rate","value":"15% per annum"},{"label":"Maturity","value":"May 31, 2025"},{"label":"Event","value":"amendment"}],"fact_type":"debt_financing"},{"claim_id":"e6510897a50b976f1f87cc319eb04bb926f12d2f","claim":"NEXTNRG, INC. incurred loan of $224,000 with Michael D. Farkas at 12% per annum maturing the earlier of (1) May 13, 2026 or (ii) the date the Company completes a cumulative capital raise of at least $4 million following the date of the May 19 Note.","evidence_excerpt":"On May 19, 2025, NextNRG, Inc. (the “Company”) and Michael D. Farkas entered into a promissory note (the “May 19 Note”) for the principal sum of $224,000 to be used for the Company’s working capital needs. The unpaid principal balance of the May 19 Note has a fixed interest rate of 12% per annum and matures on the earlier of (1) May 13, 2026 or (ii) the date the Company completes a cumulative capital raise of at least $4 million following the date of the May 19 Note.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1817004/000164117225012304/0001641172-25-012304-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"loan"},{"label":"Principal","value":"$224,000"},{"label":"Counterparty","value":"Michael D. Farkas"},{"label":"Rate","value":"12% per annum"},{"label":"Maturity","value":"the earlier of (1) May 13, 2026 or (ii) the date the Company completes a cumulative capital raise of at least $4 million following the date of the May 19 Note"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}