secwatch.observer — SEC 8-K summary
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Issuer:     NEXTNRG, INC. (NXXT)
CIK:        0001817004
Form:       8-K
Filed at:   2025-05-23T23:59:59+00:00
Accession:  0001641172-25-012304
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1817004/000164117225012304/0001641172-25-012304-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1817004/000164117225012304/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001641172-25-012304

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