# EDGAR Filing Document

**Accession Number:** 0001817004
**File Stem:** 0001641172-25-020087
**Filing Date:** 2025-7
**Character Count:** 57056
**Document Hash:** 72446c0c3f2f9d1c6a10d38ff4ab3b3a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001641172-25-020087.hdr.sgml**: 20250717

**ACCESSION NUMBER**: 0001641172-25-020087

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20250717

**ITEM INFORMATION**: Entry into a Material Definitive Agreement

**ITEM INFORMATION**: Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

**ITEM INFORMATION**: Unregistered Sales of Equity Securities

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250717

**DATE AS OF CHANGE**: 20250717

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** NEXTNRG, INC.
- **CENTRAL INDEX KEY:** 0001817004
- **STANDARD INDUSTRIAL CLASSIFICATION:** RETAIL-AUTO DEALERS & GASOLINE STATIONS [5500]
- **ORGANIZATION NAME:** 07 Trade & Services
- **EIN:** 834260623
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-40809
- **FILM NUMBER:** 251131548

**BUSINESS ADDRESS:**
- **STREET 1:** 67 NW 183RD ST
- **CITY:** MIAMI
- **STATE:** FL
- **ZIP:** 33169
- **BUSINESS PHONE:** 305-791-1169

**MAIL ADDRESS:**
- **STREET 1:** 67 NW 183RD ST
- **CITY:** MIAMI
- **STATE:** FL
- **ZIP:** 33169

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** EzFill Holdings Inc
- **DATE OF NAME CHANGE:** 20200707

?xml version='1.0' encoding='ASCII'?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C., 20549**

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the**

**Securities Exchange Act of 1934**

Date of Report (Date of earliest event reported): **July 17, 2025**

**<u>NEXTNRG, INC.</u>**

(Exact name of registrant as specified in its charter)

---

| | | |
|:---|:---|:---|
| **Delaware** | **001-40809** | **84-4260623** |
| (State or other jurisdiction<br> of incorporation) | (Commission<br> File Number) | (IRS Employer<br> Identification No.) |

---

**<u>67 NW 183rd Street, Miami, Florida 33169</u>**

(Address of principal executive offices, including Zip Code)

**<u>(305) 791-1169</u>**

(Registrant's telephone number, including area code)

**<u>N/A</u>**

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13a-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
| **Common Stock, $0.0001 par value per share** | **NXXT** | **Nasdaq Capital Market** |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

**Item 1.01. Entry into a Material Definitive Agreement.**

 *SPA*

On July 11, 2025, the NextNRG, Inc (the "Company and its Lender (the "Lender") entered into a Stock Purchase Agreement dated as of such date (the "SPA") pursuant to which the Company issued 1,081,395 restricted shares if its common stock to the Lender at a price of $2.15 per share, payable by the Lender absolving the Company of its liability of $2,325,000 owed to the Lender under their Agreement dated March 24, 2025 (a copy of which was filed by the Company as Exhibit 10.7 to its Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2025).

The issuance of the common stock was made in reliance on the exemption from registration provided by Section 4(a)(2) of the Securities Act. The issuance did not involve a public offering and was conducted as a private transaction.

The foregoing description of the SPA is subject to and qualified in its entirety by reference to the full text of the SPA, a copy of which is filed herewith as Exhibit 10.1.

*Promissory Note, dated July 15, 2025*

On July 15, 2025, the Company and a lender entered into a promissory note (the "Note") for the principal sum of $2,000,000 to be used for the Company's working capital needs. The principal balance of the Note has a fixed interest rate of 18% per annum, an original issue discount of five percent (5%) and matures on March 11, 2026. Under the Note, the Company is required to make monthly payments of $125,000 commencing with August 15, 2025, *provided* that as permitted thereunder the Company elected to pay the full $360,000 of such interest in 197,802 restricted shares (or approximately $1.82 per share) of common stock.

The issuance of the common stock was made in reliance on the exemption from registration provided by Section 4(a)(2) of the Securities Act. The issuance did not involve a public offering and was conducted as a private transaction.

The foregoing description of Note is subject to and qualified in its entirety by reference to the full text of the Note, a copy of which is filed herewith as Exhibit 4.1.

**Item 2.03. Creation of a Direct Financial Obligation or an Obligation Under an Off-Balance Sheet Arrangement of a Registrant.**

To the extent required by this Item 2.03, the information contained in Item 1.01 is incorporated herein by reference.

**Item 3.02. Unregistered Sales of Equity Securities.**

To the extent required by this Item 3.02, the information contained in Item 1.01 is incorporated herein by reference.

**Item 9.01 Financial Statements and Exhibits.**

(d) Exhibits

---

| | |
|:---|:---|
| Exhibit<br> No. | Description |
| 10.1 | [Stock Purchase Agreement dated as of July 11, 2025 between NextNRG, Inc. and Lender](ex10-1.htm) |
| 10.2 | [Promissory Note dated July 15, 2025 between NextNRG, Inc. and Lender](ex10-2.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

**SIGNATURE**

Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  | **NextNRG, Inc.** | **NextNRG, Inc.** |
| Date: July 17, 2025 | By: | */s/ Michael Farkas* |
|  | Name: | Michael Farkas |
|  | Title: | Chief Executive Officer |

---

## Exhibit 10.1

**Exhibit 10.1**

**Stock Purchase Agreement**

**Dated as of July 11, 2025**

This Stock Purchase Agreement (together with the exhibits and other attachments hereto, this "Agreement") is entered into as of the date first set forth above (the "Closing Date") by and between (i) NextNRG, Inc., a Delaware corporation (the "Company") and (ii) ______________ a Florida corporation ("Buyer"). Each of the Company and Buyer may be referred to herein collectively as the "Parties" and separately as a "Party."

WHEREAS, subject to the terms and conditions set forth in this Agreement the Company desires to issue and sell to the Buyer, and the Buyer desires to purchase from the Company, the shares of Common Stock, par value $0.0001 per share, of the Company as more fully described in this Agreement, in reliance upon the exemption from registration provided by the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder (the "Securities Act");

NOW THEREFORE, on the stated premises and for and in consideration of the mutual covenants and agreements hereinafter set forth and the mutual benefits to the Parties to be derived herefrom, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound hereby, the Parties hereby agree as follows:

**Article I.** **Definitions and Interpretation**

Section 1.01 <u>Definitions.</u> In addition to the other terms defined herein, the following terms, as used herein, have the following meanings

&nbsp;&nbsp;&nbsp;&nbsp;(a) "Action"
 means any legal action, suit, claim, investigation, hearing or proceeding, including any audit, claim or assessment for Taxes or
 otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;(b) "Affiliate"
 means, with respect to any Person, any other Person directly or indirectly Controlling, Controlled by, or under common Control with
 such Person.

&nbsp;&nbsp;&nbsp;&nbsp;(c) "Authority"
 means any governmental, regulatory or administrative body, agency or authority, any court or judicial authority, any arbitrator,
 or any public, private or industry regulatory authority, whether international, national, Federal, state, or local.

&nbsp;&nbsp;&nbsp;&nbsp;(d) "Common
 Stock" means the common stock, par value $0.0001 per share, of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;(e) "Control"
 of a Person means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies
 of such Person, whether through the ownership of voting securities, by contract, or otherwise." Controlled", "Controlling"
 and "under common Control with" have correlative meanings. Without limiting the foregoing a Person (the "Controlled
 Person") shall be deemed Controlled by (a) any other Person (the "10% Owner") (i) owning beneficially, as meant
 in Rule 13d-3 under the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder, securities
 entitling such Person to cast 10% or more of the votes for election of directors or equivalent governing authority of the Controlled
 Person or (ii) entitled to be allocated or receive 10% or more of the profits, losses, or distributions of the Controlled Person;
 (b) an officer, director, general partner, partner (other than a limited partner), manager, or member (other than a member having
 no management authority that is not a 10% Owner) of the Controlled Person; or (c) a spouse, parent, lineal descendant, sibling,
 aunt, uncle, niece, nephew, mother-in-law, father-in-law, sister-in-law, or brother-in-law of an Affiliate of the Controlled Person
 or a trust for the benefit of an Affiliate of the Controlled Person or of which an Affiliate of the Controlled Person is a trustee.

&nbsp;&nbsp;&nbsp;&nbsp;(f) "Enforceability
 Exceptions" means (a) applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance and other similar
 Laws of general application affecting enforcement of creditors' rights generally and (b) general principles of equity.

&nbsp;&nbsp;&nbsp;&nbsp;(g) "Law"
 means any domestic or foreign, federal, state, municipality or local law, statute, ordinance, code, rule, or regulation.

&nbsp;&nbsp;&nbsp;&nbsp;(h) "Lien"
 means any mortgage, lien, pledge, charge, security interest or encumbrance of any kind in respect of such asset, and any conditional
 sale or voting agreement or proxy, including any agreement to give any of the foregoing.

&nbsp;&nbsp;&nbsp;&nbsp;(i) "Person"
 means an individual, corporation, partnership (including a general partnership, limited partnership or limited liability partnership),
 limited liability company, association, trust or other entity or organization, including a government, domestic or foreign, or political
 subdivision thereof, or an agency or instrumentality thereof.

&nbsp;&nbsp;&nbsp;&nbsp;(j) "Tax(es)"
 means any federal, state, local or foreign tax, charge, fee, levy, custom, duty, deficiency, or other assessment of any kind or nature
 imposed by the Internal Revenue Service and any other Authority responsible for the collection, assessment or imposition of any Tax
 or the administration of any Law relating to any Tax (including any income (net or gross), gross receipts, profits, windfall profit,
 sales, use, goods and services, ad valorem, franchise, license, withholding, employment, social security, workers compensation, unemployment
 compensation, employment, payroll, transfer, excise, import, real property, personal property, intangible property, occupancy, recording,
 minimum, alternative minimum, environmental or estimated tax), including any liability therefor as a transferee (including under
 Section 6901 of the Internal Revenue Code of 1986, as amended, or similar provision of applicable Law) or successor, as a result
 of Treasury Regulation Section 1.1502-6 or similar provision of applicable Law or as a result of any Tax sharing, indemnification
 or similar agreement, together with any interest, penalty, additions to tax or additional amount imposed with respect thereto.

Section 1.02 <u>Interpretive Provisions.</u> Unless the express context otherwise requires (i) the words "hereof," "herein," and "hereunder" and words of similar import, when used in this Agreement, shall refer to this Agreement as a whole and not to any particular provision of this Agreement; (ii) terms defined in the singular shall have a comparable meaning when used in the plural, and vice versa; (iii) the terms "Dollars" and "$" mean United States Dollars; (iv) references herein to a specific Section, Subsection, Recital, or Exhibit shall refer, respectively, to Sections, Subsections, Recitals or Exhibits of this Agreement; (v) wherever the word "include," "includes," or "including" is used in this Agreement, it shall be deemed to be followed by the words "without limitation"; (vi) references herein to any gender shall include each other gender; (vii) references herein to any Person shall include such Person's heirs, executors, personal representatives, administrators, successors and assigns; provided, however, that nothing contained herein is intended to authorize any assignment or transfer not otherwise permitted by this Agreement; (viii) references herein to a Person in a particular capacity or capacities shall exclude such Person in any other capacity; (ix) references herein to any contract or agreement (including this Agreement) mean such contract or agreement as amended, supplemented or modified from time to time in accordance with the terms thereof; (x) with respect to the determination of any period of time, the word "from" means "from and including" and the words "to" and "until" each means "to but excluding"; (xi) references herein to any Law or any license mean such Law or license as amended, modified, codified, reenacted, supplemented or superseded in whole or in part, and in effect from time to time; and (xii) references herein to any Law shall be deemed also to refer to all rules and regulations promulgated thereunder.

**Article II.** **Purchase of Shares**

Section 2.01 <u>Closing</u>. On the Closing Date, upon the terms and subject to the conditions set forth herein, the Company agrees to sell, and the Buyer agrees to purchase 1,081,395 Shares for a purchase price per Share equal to $2.15 (the "Purchase Price"). The Company shall deliver to the Buyer its Shares and the Closing shall occur electronically or in such other manner as the parties shall mutually agree.

The parties hereby agree that in lieu of paying in cash for the Purchase Price, the Buyer will be absolving NextNRG Inc (F/K/A EzFill Holdings Inc.) ("NextNRG") of its liability of $2,325,000 (the "NextNRG Liabilities"). NextNRG owes the NextNRG Liabilities to the Buyer pursuant to the Agreement for the Sale of Future Receipts entered into between NextNRG and the Buyer on March 24, 2025 (the "Sale of Future Receipts Agreement") and the absolving of the NextNRG Liabilities will be of economic benefit to the Company and its Affiliates.

The Buyer covenants and agrees that upon the Closing, the Sale of Future Receipts Agreement and any obligations and/or liabilities of NextNRG under the Sale of Future Receipts Agreement will be null and void and of no further force or effect, all NextNRG's obligations and/or liabilities under the Sale of Future Receipts Agreement shall be considered as been fully satisfied, and the Buyer shall waive any claim against NextNRG in connection with, or as a result of, the Sale of Future Receipts Agreement.

**Article III.** **Representations and Warranties of the Buyer**

As an inducement to, and to obtain the reliance of the Company, Buyer represents and warrants to the Company as of the Closing Date as follows:

Section 3.01 <u>Existence and Power.</u> Buyer is corporation, duly formed and in good standing under the laws of the State of Florida and has the full power and is duly authorized under all applicable Laws, regulations, ordinances, and orders of public authorities to carry on its business in all material respects as it is now being conducted and to enter into this Agreement and fulfill its obligations herein.

Section 3.02 <u>No Conflict; Due Authorization</u>. The execution and delivery of this Agreement does not, and the consummation of the transactions contemplated hereby will not, violate any provision of the Articles of Incorporation or Bylaws of the Buyer as in effect on the Closing Date (the "Buyer Organizational Documents"). The Buyer has taken all action required by Law, the Buyer Organizational Documents, or otherwise to authorize the execution and delivery of this Agreement, and the Buyer has full power, authority, and legal right and has taken all action required by Law, the Buyer Organizational Documents or otherwise to consummate the transactions herein contemplated.

Section 3.03 <u>Valid Obligation</u>. This Agreement and all agreements and other documents executed by Buyer in connection herewith constitute the valid and binding obligations of Buyer, enforceable in accordance with its or their terms, except as may be limited by the Enforceability Exceptions

Section 3.04 <u>Governmental Authorization.</u> Neither the execution, delivery nor performance of this Agreement by Buyer requires any consent, approval, license or other action by or in respect of, or registration, declaration or filing with any Authority.

Section 3.05 <u>Broker's, Finder's or Similar Fees</u>. There are no brokerage commissions, finder's fees or similar fees or commissions payable by Buyer in connection with the transactions contemplated hereby based on any agreement, arrangement or understanding with Buyer or any action taken by Buyer.

Section 3.06 <u>Investment Representations</u>.

&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Investment Purpose</u>. Buyer understands and agrees that the consummation of this Agreement including the delivery of the Shares to Buyer,
 as contemplated hereby constitutes the offer and sale of securities under the Securities Act and applicable state statutes and that
 the Shares are being acquired for Buyer's own account and not with a present view towards the public sale or distribution thereof,
 except pursuant to sales registered or exempted from registration under the Securities Act.

&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Investor Status</u>. Buyer is an "accredited investor" as that term is defined in Rule 501(a) of Regulation D (an "Accredited
 Investor") promulgated under the Securities Act. Buyer has been furnished with all documents and materials relating to the
 business, finances and operations of the Company and its subsidiaries and information that Buyer requested and deemed material to
 making an informed decision regarding this Agreement and the underlying transactions.

&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Reliance on Exemptions</u>. Buyer understands that the Shares are being offered and sold to the Buyer in reliance upon specific exemptions
 from the registration requirements of United States federal and state securities Laws and that the Company is relying upon the truth
 and accuracy of, and the Buyer's compliance with, the representations, warranties, agreements, acknowledgments and understandings
 of the Buyer set forth herein in order to determine the availability of such exemptions and the eligibility of the Buyer to acquire
 the Shares.

&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Information</u>.
 Buyer and Buyer's advisors, if any, have been furnished with all materials relating to the business, finances and operations
 of the Company and materials relating to the offer and sale of the Shares which have been requested by Buyer or its advisors. Buyer
 and Buyer's advisors, if any, have been afforded the opportunity to ask questions of the Company. Buyer has received and reviewed
 the filings and reports made or filed by the Company with the Securities and Exchange Commission, including, without limitation,
 the risk factors as set forth therein. Buyer understands that Buyer's investment in the Shares involves a significant degree
 of risk. The Buyer represents and warrants that the Buyer (i) can bear the economic risk of the Buyer's respective investments,
 and (ii) possesses such knowledge and experience in financial and business matters that the Buyer is capable of evaluating the merits
 and risks of the investment in the Company and the Shares. The Buyer acknowledges that Buyer has carefully reviewed such information
 as the Buyer has deemed necessary to evaluate an investment in the Company and the Shares.

&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Governmental Review</u>. Buyer understands that no United States federal or state agency or any other government or governmental agency has passed
 upon or made any recommendation or endorsement of the Shares. The Buyer further acknowledges that neither the Securities and Exchange
 Commission nor the securities regulatory body of any other jurisdiction, has received, considered or passed upon the accuracy or
 adequacy of the information and representations made in this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>Transfer or Resale</u>. Buyer understands that (i) the sale or re-sale of the Shares has not been and is not being registered under the Securities
 Act or any applicable state securities Laws, and the Shares may not be transferred unless (a) the Shares are sold pursuant to an
 effective registration statement under the Securities Act, (b) Buyer shall have delivered to the Company, at the cost of Buyer, an
 opinion of counsel that shall be in form, substance and scope customary for opinions of counsel in comparable transactions to the
 effect that the Shares to be sold or transferred may be sold or transferred pursuant to an exemption from such registration, which
 opinion shall be accepted by the Company, (c) the Shares are sold or transferred to an "affiliate" (as defined in Rule
 144 promulgated under the Securities Act (or a successor rule) ("Rule 144")) of Buyer who agree to sell or otherwise
 transfer the Shares only in accordance with this Section 3.06 and who is an Accredited Investor, (d) the Shares are sold pursuant
 to Rule 144, or (e) the Shares are sold pursuant to Regulation S under the Securities Act (or a successor rule) ("Regulation
 S"), and Buyer shall have delivered to the Company, at the cost of Buyer, an opinion of counsel that shall be in form, substance
 and scope customary for opinions of counsel in corporate transactions, which opinion shall be accepted by the Company; (ii) any sale
 of such Shares made in reliance on Rule 144 may be made only in accordance with the terms of said Rule and further, if said Rule
 is not applicable, any re-sale of such Shares under circumstances in which the seller (or the person through whom the sale is made)
 may be deemed to be an underwriter (as that term is defined in the Securities Act) may require compliance with some other exemption
 under the Securities Act or the rules and regulations of the SEC thereunder; and (iii) neither the Company nor any other person is
 under any obligation to register such Shares under the Securities Act or any state securities Laws or to comply with the terms and
 conditions of any exemption thereunder (in each case).

&nbsp;&nbsp;&nbsp;&nbsp;(g) <u>Legends</u>.
 Buyer understands that the Shares, until such time as the Shares have been registered under the Securities Act, or may be sold pursuant
 to Rule 144 or Regulation S without any restriction as to the number of securities as of a particular date that can then be immediately
 sold, the Shares may bear a standard Rule 144 legend and a stop-transfer order may be placed against transfer of the certificates
 for such Shares, and that any certificate representing the Shares shall be endorsed with the following legends, in addition to any
 other legend required to be placed thereon by applicable federal or state securities Laws:

"THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (TOGETHER WITH THE RULES AND REGULATIONS THEREUNDER, THE "SECURITIES ACT"), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS."

&nbsp;&nbsp;&nbsp;&nbsp;(h) <u>Removal</u>.
 The legend(s) referenced in Section 3.06(g) shall be removed and the Company shall issue a certificate without such legend to the
 holder of any Shares upon which it is stamped, if, unless otherwise required by applicable state securities Laws, (a) the Shares
 are registered for sale under an effective registration statement filed under the Securities Act or otherwise may be sold pursuant
 to Rule 144 or Regulation S without any restriction as to the number of securities as of a particular date that can then be immediately
 sold, or (b) such holder provides the Company with an opinion of counsel, in form, substance and scope customary for opinions of
 counsel in comparable transactions, to the effect that a public sale or transfer of such Shares may be made without registration
 under the Securities Act, which opinion shall be accepted by the Company so that the sale or transfer is effected. Buyer agrees to
 sell all Shares, including those represented by a certificate(s) from which the legend has been removed, only in compliance with
 applicable prospectus delivery requirements, if any.

Section 3.07 <u>Full Disclosure.</u> No representation or warranty by Buyer in this Agreement or any certificate or other document furnished or to be furnished to the Company pursuant to this Agreement contains any untrue statement of a material fact, or omits to state a material fact necessary to make the statements contained therein, in light of the circumstances in which they are made, not misleading.

Section 3.08 <u>Trading Volume.</u> In the event that under applicable securities laws, Buyer may sell the Shares than it may sell the Shares, provided that it does not sell more than 10% of the average daily volume of the Shares in any given trading day, as reported by Nasdaq Stock Market.

**Article IV.** **Representations and Warranties of the Company**

As an inducement to, and to obtain the reliance of the Buyer, the Company represents and warrants to the Buyer as of the Closing Date as follows:

Section 4.01 <u>Organization</u>. The Company is a corporation duly organized, validly existing, and in good standing under the Laws of the State of Delaware and has the corporate power and is duly authorized under all applicable Laws, regulations, ordinances, and orders of public authorities to carry on its business in all material respects as it is now being conducted.

Section 4.02 <u>No Conflict; Due Authorization</u>. The execution and delivery of this Agreement does not, and the consummation of the transactions contemplated hereby will not, violate any provision of the Certificate of Incorporation and Bylaws of the Company as in effect on the Closing Date (the "Company Organizational Documents"). The Company has taken all action required by Law, the Company Organizational Documents, or otherwise to authorize the execution and delivery of this Agreement, and the Company has full power, authority, and legal right and has taken all action required by Law, the Company Organizational Documents or otherwise to consummate the transactions herein contemplated.

Section 4.03 <u>Valid Obligation</u>. This Agreement and all agreements and other documents executed by the Company in connection herewith constitute the valid and binding obligation of the Company, enforceable in accordance with its or their terms, except as may be limited by the Enforceability Exceptions.

Section 4.04 <u>Governmental Authorization</u>. Neither the execution and delivery nor performance of this Agreement by any the Company Party requires any consent, approval, license or other action by or in respect of, or registration, declaration or filing with any Authority.

Section 4.05 <u>Approval of Agreement.</u> The Board of Directors of the Company has authorized the execution and delivery of this Agreement by the Company and has approved this Agreement and the transactions contemplated hereby.

Section 4.06 <u>Broker's, Finder's or Similar Fees</u>. There are no brokerage commissions, finder's fees or similar fees or commissions payable by the Company in connection with the transactions contemplated hereby based on any agreement, arrangement or understanding with the Company or any action taken by the Company.

**Article V.** **Miscellaneous**

Section 5.01 <u>Notices.</u>

&nbsp;&nbsp;&nbsp;&nbsp;(a) Any
 notice or other communications required or permitted hereunder shall be in writing and shall be sufficiently given if personally
 delivered to it or sent by email, overnight courier or registered mail or certified mail, postage prepaid, addressed as follows:

If to Buyer, to:

If to the Company, to:

NextNRG Inc.

Attn: Michael D. Farkas

&nbsp;&nbsp;&nbsp;&nbsp;(b) Any
 Party may change its address for notices hereunder upon notice to each other Party in the manner for giving notices hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;(c) Any
 notice hereunder shall be deemed to have been given (i) upon receipt, if personally delivered, (ii) on the day after dispatch, if
 sent by overnight courier, (iii) upon dispatch, if transmitted by email with return receipt requested and received and (iv) three
 (3) days after mailing, if sent by registered or certified mail.

Section 5.02 <u>Governing Law; Jurisdiction.</u>

&nbsp;&nbsp;&nbsp;&nbsp;(a) This
 Agreement, and any and all claims, proceedings or causes of action relating to this Agreement or arising from this Agreement or the
 transactions contemplated herein, including, without limitation, tort claims, statutory claims and contract claims, shall be interpreted,
 construed, governed and enforced under and solely in accordance with the substantive and procedural Laws of the State of Florida,
 in each case as in effect from time to time and as the same may be amended from time to time, and as applied to agreements performed
 wholly within the State of Florida.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Each
 of the Parties irrevocably consents and agrees that any legal or equitable action or proceedings arising under or in connection with
 this Agreement shall be brought exclusively in the state or federal courts of the United States with jurisdiction in Miami-Dade County,
 Florida (the "Selected Courts"). By execution and delivery of this Agreement, each Party hereby (a) submits to the exclusive
 jurisdiction of any Selected Court for the purpose of any Action arising out of or relating to this Agreement brought by any Party
 hereto and (b) irrevocably waives, and agrees not to assert by way of motion, defense or otherwise, in any such Action, any claim
 that it is not subject personally to the jurisdiction of the Selected Courts, that its property is exempt or immune from attachment
 or execution, that the Action is brought in an inconvenient forum, that the venue of the Action is improper, or that this Agreement
 or the transactions contemplated hereby may not be enforced in or by any Selected Court. Each Party agrees that a final judgment
 in any Action shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided
 by Law. Each Party irrevocably consents to the service of the summons and complaint and any other process in any other Action relating
 to the transactions contemplated by this Agreement, on behalf of itself, or its property, by personal delivery of copies of such
 process to such Party at the applicable address set forth in Section 5.01, provided that nothing in this Section 5.02(b) shall affect
 the right of any Party to serve legal process in any other manner permitted by Law.

Section 5.03 <u>Waiver of Jury Trial.</u> EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREIN (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS Section 5.03. Each of the Parties acknowledge that each has been represented in connection with the signing of this waiver by independent legal counsel selected by the respective Party and that such Party has discussed the legal consequences and import of this waiver with legal counsel. Each of the Parties further acknowledge that each has read and understands the meaning of this waiver and grants this waiver knowingly, voluntarily, without duress and only after consideration of the consequences of this waiver with legal counsel.

Section 5.04 <u>Limitation on Damages.</u> **In no event will any Party be liable to any other Party under or in connection with this Agreement or in connection with the transactions contemplated herein for special, general, indirect or consequential damages, including damages for lost profits or lost opportunity, even if the Party sought to be held liable has been advised of the possibility of such damage.**

Section 5.05 <u>Attorneys' Fees.</u> In the event that any Party institutes any action or suit to enforce this Agreement or to secure relief from any default hereunder or breach hereof, the prevailing Party shall be reimbursed by the losing Party for all costs, including reasonable attorneys' fees, incurred in connection therewith and in enforcing or collecting any judgment rendered therein.

Section 5.06 <u>Third Party Beneficiaries.</u> This contract is strictly between the Parties, and except as specifically provided herein, no other Person and no director, officer, shareholder, employee, agent, independent contractor or any other Person shall be deemed to be a third-party beneficiary of this Agreement.

Section 5.07 <u>Entire Agreement.</u> This Agreement, the other Transaction Documents and the other agreements and documents references herein represent the entire agreement between the Parties relating to the subject matter thereof and supersede all prior agreements, understandings and negotiations, written or oral, with respect to such subject matter.

Section 5.08 <u>Amendment; Waiver; Remedies.</u>

&nbsp;&nbsp;&nbsp;&nbsp;(a) This
 Agreement may be amended, modified, superseded, terminated or cancelled, and any of the terms, covenants, representations, warranties
 or conditions hereof may be waived, only by a written instrument executed by both Parties.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Every
 right and remedy provided herein shall be cumulative with every other right and remedy, whether conferred herein, at law, or in equity,
 and may be enforced concurrently herewith, and no waiver by any Party of the performance of any obligation by the other shall be
 construed as a waiver of the same or any other default then, theretofore, or thereafter occurring or existing.

&nbsp;&nbsp;&nbsp;&nbsp;(c) Neither
 any failure or delay in exercising any right or remedy hereunder or in requiring satisfaction of any condition herein nor any course
 of dealing shall constitute a waiver of or prevent any Party from enforcing any right or remedy or from requiring satisfaction of
 any condition. No notice to or demand on a Party waives or otherwise affects any obligation of that Party or impairs any right of
 the Party giving such notice or making such demand, including any right to take any action without notice or demand not otherwise
 required by this Agreement. No exercise of any right or remedy with respect to a breach of this Agreement shall preclude exercise
 of any other right or remedy, as appropriate to make the aggrieved Party whole with respect to such breach, or subsequent exercise
 of any right or remedy with respect to any other breach.

Section 5.09 <u>No Assignment or Delegation.</u> This Agreement shall be binding upon and shall inure to the benefit of the Parties and their respective successors and permitted assigns. No Party shall have any power or any right to assign or transfer, in whole or in part, this Agreement, or any of its rights or any of its obligations hereunder, including, without limitation, any right to pursue any claim for damages pursuant to this Agreement or the transactions contemplated herein, or to pursue any claim for any breach or default of this Agreement, or any right arising from the purported assignor's due performance of its obligations hereunder, without the prior written consent of the other Party and any such purported assignment in contravention of the provisions herein shall be null and void and of no force or effect.

Section 5.10 <u>Further Assurances.</u> From and after the Closing Date, each Party shall execute and deliver such documents and take such action, as may reasonably be considered within the scope of such Party's obligations hereunder, necessary to effectuate the transactions contemplated herein.

Section 5.11 <u>Counterparts.</u> This Agreement may be executed in multiple counterparts, each of which shall be deemed an original and all of which taken together shall be but a single instrument. Counterparts may be delivered via facsimile, electronic mail (including pdf or any electronic signature complying with the U.S. federal ESIGN Act of 2000, e.g., www.docusign.com) or other transmission method and any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes.

*[Signatures Appear on Following Pages]* 

IN WITNESS WHEREOF, the Parties have executed this Agreement as of the Closing Date.

---

| | |
|:---|:---|
| NextNRG Inc. | NextNRG Inc. |
| By: |  |
| Name: | Michael D. Farkas |
| Title: | Chief Executive Officer |
| By: |  |
| Name: |  |
| Title: |  |

---

## Exhibit 10.2

**Exhibit 10.2**

**<u>PROMISSORY NOTE</u>**

---

| | |
|:---|:---|
| $2000000 | July 15, 2025 |

---

**FOR VALUE RECEIVED**, **NEXTNRG, INC.**, a Delaware corporation having an address of 57 NW 183<sup>rd</sup> St., Miami, Florida 33169 (the "**Borrower**"), hereby promises to pay to the order of, ___________ a Florida corporation having an address of ______________________ (the "**Lender**"), at Lender's offices, or such other place as Lender shall designate in writing from time to time, the principal sum of $2,000,000.00 (the "**Loan**"), in US Dollars, together with interest thereon as hereinafter provided.

1. **<u>INTEREST RATE</u>**. The unpaid principal balance of this Promissory Note (the "**Note**") from day to day outstanding shall bear a fixed rate of interest equal to 18% per annum.

2. **<u>ORIGINAL ISSUE DISCOUNT</u>**. The Parties Agree that this note will come with an original issue discount of 5% or $100,000.

3. **<u>PAYMENT OF PRINCIPAL AND INTEREST</u>**. Unless this Note is otherwise accelerated, or extended in accordance with the terms and conditions hereof, the entire outstanding principal balance of this Note plus all accrued interest shall be due and payable in full on March 11, 2026 (the "**Maturity Date**").

4. **<u>APPLICATION OF PAYMENTS</u>**. Except as otherwise specified herein, each payment or prepayment, if any, made under this Note shall be applied to pay late charges, accrued and unpaid interest, principal, and any other fees, costs and expenses which Borrower is obligated to pay under this Note.

5. **<u>TENDER OF PAYMENT</u>**. Payment on this Note is payable on or before 5:00 p.m. on the due date thereof, at the office of Lender specified above and shall be credited on the date the funds become available, in Lender's account, in lawful money of the United States.

6. **<u>MONTHLY PAYMENTS AND BALLOON</u>**. Borrower shall make monthly payments of $125,000 to the Lender. The monthly payments shall begin on August 15, 2025. The outstanding principal amount shall be due and payable on the Maturity Date.

7. **<u>PAYMENT OF INTEREST</u>**. At its option, Borrower may pay the interest due under this Note in the form shares of its common stock. If Borrower elects to pay the interest in shares of its common stock (the "Interest Shares"), it must pay the full amount for the entire term ($360,000 or 197,802 shares of the Company's restricted common stock) on the execution date of this Note.

8. **<u>REPRESENTATIONS AND WARRANTIES</u>.** Borrower represents and warrants to Lender as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.2. **<u>Execution of Loan Documents</u>.** This Note has been duly executed and delivered by Borrower. Execution, delivery and performance of this Note will not: (i) violate any contracts previously entered into by Borrower, provision of law, order of any court, agency or other instrumentality of government, or any provision of any indenture, agreement or other instrument to which he is a party or by which he is bound; (ii) result in the creation or imposition of any lien, charge or encumbrance of any nature; and (iii) require any authorization, consent, approval, license, exemption of, or filing or registration with, any court or governmental authority.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.3. **<u>Obligations of Borrower</u>.** This Note is a legal, valid and binding obligation of Borrower, enforceable against him in accordance with its terms, except as the same may be limited by bankruptcy, insolvency, reorganization or other laws or equitable principles relating to or affecting the enforcement of creditors' rights generally.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.4. **<u>Litigation</u>.** There is no action, suit or proceeding at law or in equity or by or before any governmental authority, agency or other instrumentality now pending or, to the knowledge of Borrower, threatened against or affecting Borrower or any of its properties or rights which, if adversely determined, would materially impair or affect: (i) Borrower's right to carry on its business substantially as now conducted (and as now contemplated); (ii) its financial condition; or (iii) its capacity to consummate and perform its obligations under this Note.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.5. **<u>No Defaults</u>.** Borrower is not in default in the performance, observance or fulfillment of any of the obligations, covenants or conditions contained herein or in any material agreement or instrument to which he is a party or by which he is bound.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.6. **<u>No Untrue Statements</u>.** No document, certificate or statement furnished to Lender by or on behalf of Borrower contains any untrue statement of a material fact or omits to state a material fact necessary in order to make the statements contained herein and therein not misleading. Borrower acknowledges that all such statements, representations and warranties shall be deemed to have been relied upon by Lender as an inducement to make the Loan to Borrower.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.7. The loan funds shall be used solely for Borrower's working capital needs and repayment of outstanding loans.

9. **<u>EVENTS OF DEFAULT</u>**. Each of the following shall constitute an event of default hereunder (an **"Event of Default"**): (a) the failure of Borrower to pay any amount of principal or interest hereunder (including any monthly payment) within three (3) business days from when it becomes due and payable; (b) Borrower becoming insolvent or declaring bankruptcy; (c) the discovery that any of the Borrower representations were untrue; or (d) the occurrence of any other default in any material term, covenant or condition hereunder, and the continuance of such breach for a period of ten (10) days after written notice thereof shall have been given to Borrower. Borrower shall promptly notify Lender of the occurrence of any default, Event of Default, adverse litigation or material adverse change in its financial condition.

10. **<u>REMEDIES</u>**. If an Event of Default exists, Lender may exercise any right, power or remedy permitted by law or as set forth herein, including, without limitation, the right to declare the entire unpaid principal amount hereof and all interest accrued hereon, to be, and such principal, interest and other sums shall thereupon become, immediately due and payable.

11. **<u>COMMITMENT FEE SHARES</u>**. The Borrower will issue 126,373 shares of its restricted common stock to Lender as commitment fee shares for the Loan.

12. **<u>MISCELLANEOUS</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.2. **<u>Disclosure of Financial Information</u>**. Lender is hereby authorized to disclose any financial or other information about Borrower to any regulatory body or agency having jurisdiction over Lender and to any present, future or prospective participant or successor in interest in any loan or other financial accommodation made by Lender to Borrower, so long as there is a mandatory requirement to provide such disclosure. The information provided may include, without limitation, amounts, terms, balances, payment history, return item history and any financial or other information about Borrower.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.3. **<u>Integration</u>**. This Note constitutes the sole agreement of the parties with respect to the transaction contemplated hereby and supersede all oral negotiations and prior writings with respect thereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.4. **<u>Borrower's Obligations Absolute</u>**. The obligations of Borrower under this Note shall be absolute and unconditional and shall remain in full force and effect without regard to, and shall not be released, suspended, discharged, terminated or otherwise affected by, any circumstance or occurrence whatsoever, including, without limitation:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.4.1. any renewal, extension, amendment or modification of, or addition or supplement to or deletion from, this Note, or any other instrument or agreement referred to therein, or any assignment or transfer of any thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.4.2. any waiver, consent, extension, indulgence or other action or inaction under or in respect of any such agreement or instrument or this Note;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.4.3. any furnishing of any additional security to the Borrower or its assignee or any acceptance thereof or any release of any security by the Lender or its assignee; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.4.4. any limitation on any party's liability or obligations under any such instrument or agreement or any invalidity or unenforceability, in whole or in part, of any such instrument or agreement or any term thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.5. **<u>No Implied Waiver</u>**. Lender shall not be deemed to have modified or waived any of its rights or remedies hereunder unless such modification or waiver is in writing and signed by Lender, and then only to the extent specifically set forth therein. A waiver in one event shall not be construed as continuing or as a waiver of or bar to such right or remedy in a subsequent event. After any acceleration of, or the entry of any judgment on, this Note, the acceptance by Lender of any payments by or on behalf of Borrower on account of the indebtedness evidenced by this Note shall not cure or be deemed to cure any Event of Default or reinstate or be deemed to reinstate the terms of this Note absent an express written agreement duly executed by Lender and Borrower.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.6. **<u>No Usurious Amounts</u>**. Notwithstanding anything herein to the contrary, it is the intent of the parties that Borrower shall not be obligated to pay interest hereunder at a rate which is in excess of the maximum rate permitted by law (the "**Maximum Rate**"). If by the terms of this Note, Borrower is at any time required to pay interest at a rate in excess of the Maximum Rate, the rate of interest under this Note shall be deemed to be immediately reduced to the Maximum Rate and the portion of all prior interest payments in excess of the Maximum Rate shall be applied to and shall be deemed to have been payments in reduction of the outstanding principal balance, unless Borrower shall notify Lender, in writing, that Borrower elects to have such excess sum returned to it forthwith. Borrower agrees that in determining whether or not any interest payable under this Note exceeds the Maximum Rate, any non-principal payment, including, without limitation, late charges, shall be deemed to the extent permitted by law to be an expense, fee or premium rather than interest.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.7. **<u>Partial Invalidity</u>**. The invalidity or unenforceability of any one or more provisions of this Note shall not render any other provision invalid or unenforceable. In lieu of any invalid or unenforceable provision, there shall be automatically added hereto a valid and enforceable provision as similar in terms to such invalid or unenforceable provision as may be possible.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.8. **<u>Binding Effect</u>**. The covenants, conditions, waivers, releases and agreements contained in this Note shall bind, and the benefits thereof shall inure to, the parties hereto and their respective heirs, executors, administrators, successors and assigns; provided, however, that this Note cannot be assigned by Borrower without the prior written consent of Lender, and any such assignment or attempted assignment by Borrower shall be void and of no effect with respect to Lender.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.9. **<u>Modifications</u>**. This Note may not be supplemented, extended, modified or terminated except by an agreement in writing signed by the party against whom enforcement of any such waiver, change, modification or discharge is sought.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.10. **<u>Sales or Participations</u>**. Lender may, from time to time, sell or assign, in whole or in part, or grant participations in, the Loan, this Note and/or the obligations evidenced thereby. The holder of any such sale, assignment or participation, if the applicable agreement between Lender and such holder so provides, shall be: (a) entitled to all of the rights, obligations and benefits of Lender; and (b) deemed to hold and may exercise the rights of setoff or banker's lien with respect to any and all obligations of such holder to Borrower, in each case as fully as though Borrower were directly indebted to such holder. Lender may in its discretion give notice to Borrower of such sale, assignment or participation; however, the failure to give such notice shall not affect any of Lender's or such holder's rights hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.11. **<u>Jurisdiction; etc.</u>** Borrower hereby consents that any action or proceeding against him be commenced and maintained in any court in Miami-Dade County Florida and Borrower agrees that the courts in Miami-Dade County Florida shall have jurisdiction with respect to the subject matter hereof and the person of Borrower. Borrower agrees not to assert any defense to any action or proceeding initiated by Lender based upon improper venue or inconvenient forum.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.12. **<u>Notices</u>**. All notices from the Borrower to Lender and Lender to Borrower required or permitted by an provision of this Note shall be in writing and sent by registered or certified mail or nationally recognized overnight delivery service and addressed to the address set forth above.

Notice given as hereinabove provided shall be deemed given on the date of its deposit in the United States Mail and, unless sooner actually received, shall be deemed received by the party to whom it is address on the third (3<sup>rd</sup>) calendar day following the date on which said notice is deposited in the mail, or if a courier system is used, on the date of delivery of the notice. The parties may add, deleted, or alter any address to which notice is to be provided by providing written notice of such change pursuant to the terms of this section.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.13. **<u>Governing Law</u>**. This Note shall be governed by and construed in accordance with the substantive laws of the State of Delaware without regard to conflict of laws principles.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.14. **<u>Waiver of Jury Trial</u>**. **BORROWER AND LENDER AGREE THAT, TO THE EXTENT PERMITTED BY APPLICABLE LAW, ANY SUIT, ACTION OR PROCEEDING, WHETHER CLAIM OR COUNTERCLAIM, BROUGHT BY LENDER OR BORROWER, ON OR WITH RESPECT TO THIS NOTE OR ANY OTHER LOAN DOCUMENT EXECUTED IN CONNECTION HEREWITH OR THE DEALINGS OF THE PARTIES WITH RESPECT HERETO OR THERETO, SHALL BE TRIED ONLY BY A COURT AND NOT BY A JURY. LENDER AND BORROWER EACH HEREBY KNOWINGLY, VOLUNTARILY, INTENTIONALLY AND INTELLIGENTLY AND WITH THE ADVICE OF THEIR RESPECTIVE COUNSEL, WAIVE, TO THE EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT TO A TRIAL BY JURY IN ANY SUCH SUIT, ACTION OR PROCEEDING. FURTHER, BORROWER WAIVES ANY RIGHT IT MAY HAVE TO CLAIM OR RECOVER, IN ANY SUCH SUIT, ACTION OR PROCEEDING, ANY SPECIAL, EXEMPLARY, PUNITIVE, CONSEQUENTIAL OR OTHER DAMAGES OTHER THAN, OR IN ADDITION TO, ACTUAL DAMAGES. BORROWER ACKNOWLEDGES AND AGREES THAT THIS SECTION IS A SPECIFIC AND MATERIAL ASPECT OF THIS NOTE AND THAT LENDER WOULD NOT EXTEND CREDIT TO BORROWER IF THE WAIVERS SET FORTH IN THIS SECTION WERE NOT A PART OF THIS NOTE.** 

Borrower, intending to be legally bound, has duly executed and delivered this Note as of the day and year first above written.

---

| | |
|:---|:---|
| **BORROWER:** | **BORROWER:** |
| **NextNRG, Inc.** | **NextNRG, Inc.** |
| By: |  |
| Name: | Michael D. Farkas |
| Title: | CEO |

---

Michael D. Farkas (Guarantor) hereby personally guarantees payment of the above promissory note. Guarantor agrees that the Lender or holder may proceed against Guarantor directly and independently of the Borrower, and that the cessation of the liability of the Borrower shall not in any way affect the liability of the Guarantor.

By:   <br> Name: Michael D. Farkas

**Lender Acknowledgement** 

By:   <br> Name: <br> Title: