secwatch.observer — SEC 8-K summary
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Issuer:     NEXTNRG, INC. (NXXT)
CIK:        0001817004
Form:       8-K
Filed at:   2025-06-13T23:59:59+00:00
Accession:  0001641172-25-015066
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

NextNRG enters $899K equipment lease and $436K promissory note from CEO
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- 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).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1817004/000164117225015066/0001641172-25-015066-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1817004/000164117225015066/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001641172-25-015066

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