---
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"
generated_at: "2026-05-20T15:04:32.007761+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# NextNRG borrows $420K from CEO via two promissory notes; extends Alcourt note maturity

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: debt
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001641172-25-012304
- JSON: https://secwatch.observer/filing/0001641172-25-012304.json
- Plain text: https://secwatch.observer/filing/0001641172-25-012304.txt

## Key facts
- Debt Financings
  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.
  - Instrument: loan
  - Principal: $196,000
  - Counterparty: Michael D. Farkas
  - Rate: 12% per annum
  - Maturity: 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
  - Event: incurrence
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1817004/000164117225012304/0001641172-25-012304-index.htm
- Debt Financings
  NEXTNRG, INC. amended loan of $1,000,000 with Alcourt LLC at 15% per annum maturing May 31, 2025.
  - Instrument: loan
  - Principal: $1,000,000
  - Counterparty: Alcourt LLC
  - Rate: 15% per annum
  - Maturity: May 31, 2025
  - Event: amendment
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1817004/000164117225012304/0001641172-25-012304-index.htm
- Debt Financings
  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.
  - Instrument: loan
  - Principal: $224,000
  - Counterparty: Michael D. Farkas
  - Rate: 12% per annum
  - Maturity: 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
  - Event: incurrence
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1817004/000164117225012304/0001641172-25-012304-index.htm

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