NextNRG, Inc. (NXXT) entered into a Stock Purchase Agreement with its CEO and Executive Chairman, Michael D. Farkas, to settle an outstanding debt. The company issued 260,000 shares of common stock in exchange for the cancellation of a $100,360 promissory note owed to Mr. Farkas.
Key Details
- Agreement: The Stock Purchase Agreement was executed on June 16, 2026, between NextNRG and CEO Michael D. Farkas.
- Transaction Terms: The company issued 260,000 shares of common stock at a price of $0.386 per share, for an aggregate value of $100,360.
- Debt Settlement: The issuance settles and terminates a promissory note dated March 7, 2024, absolving the company of a $100,360 liability owed to its CEO.