debt
confidence high
sentiment neutral
materiality 0.65
NextNRG enters $899K equipment lease and $436K promissory note from CEO
NEXTNRG, INC.
- Entered equipment lease with Equify Financial for $899,640 total cost; 36-month term with monthly payments of $27,886 initially, then $27,790.
- CEO Michael D. Farkas provided $436K promissory note at 12% interest, with $46K original issue discount, for working capital.
- Note matures earlier of June 9, 2026 or cumulative capital raise of at least $4M.
- Lease No. 001 includes purchase option at end of term for $179,928 (estimated fair market value).
item 1.01item 2.03item 9.01