# EDGAR Filing Document

**Accession Number:** 0000788611
**File Stem:** 0001493152-25-014039
**Filing Date:** 2025-9
**Character Count:** 15094
**Document Hash:** 79dd117faabb9c517125be931d6dca9e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001493152-25-014039.hdr.sgml**: 20250918

**ACCESSION NUMBER**: 0001493152-25-014039

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 13

**CONFORMED PERIOD OF REPORT**: 20250918

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

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

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250918

**DATE AS OF CHANGE**: 20250918

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** NextTrip, Inc.
- **CENTRAL INDEX KEY:** 0000788611
- **STANDARD INDUSTRIAL CLASSIFICATION:** TRANSPORTATION SERVICES [4700]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 820404220
- **STATE OF INCORPORATION:** NV
- **FISCAL YEAR END:** 0228

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-38015
- **FILM NUMBER:** 251323367

**BUSINESS ADDRESS:**
- **STREET 1:** 3900 PASEO DEL SOL
- **CITY:** SANTE FE
- **STATE:** NM
- **ZIP:** 87507
- **BUSINESS PHONE:** (954) 526-9688

**MAIL ADDRESS:**
- **STREET 1:** 3900 PASEO DEL SOL
- **CITY:** SANTE FE
- **STATE:** NM
- **ZIP:** 87507

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SIGMA ADDITIVE SOLUTIONS, INC.
- **DATE OF NAME CHANGE:** 20220812

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SIGMA LABS, INC.
- **DATE OF NAME CHANGE:** 20101014

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FRAMEWAVES INC
- **DATE OF NAME CHANGE:** 20010130

?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): September 18, 2025 (September 15, 2025)**

**NextTrip, Inc.**

**(Exact name of Registrant as Specified in Its Charter)**

---

| | | |
|:---|:---|:---|
| **Nevada** | **001-38015** | **27-1865814** |
| **(State or Other Jurisdiction**<br> **of Incorporation)**<br>| **(Commission**<br> **File Number)** | **(IRS Employer**<br> **Identification No.)** |

---

---

| | |
|:---|:---|
| **3900 Paseo del Sol**<br>**Santa Fe, New Mexico** | **87507** |
| **(Address of Principal Executive Offices)** | **(Zip Code)** |

---

**Registrant's Telephone Number, Including Area Code: (505) 438-2576**

**(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 240.13e-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, par value $0.001 per share | NTRP | The Nasdaq Stock Market LLC |

---

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**

Reference is made to the Current Report on Form 8-K (the "Current Report") of NextTrip, Inc., a Nevada corporation (the "Company"), filed on September 15, 2025 with the Securities and Exchange Commission with respect to the issuance and sale of restricted shares of newly designated Series Q Nonvoting Convertible Preferred Stock of the Company (the "Series Q Preferred Stock"). The Current Report contains a description of the terms of the Series Q Preferred Stock with the Certificate of Designation for such series attached as an exhibit to such Report.

***Conversion of Related Party Loans into Series Q Preferred Stock***

On September 15, 2025, the Company entered into debt conversion agreements with Carmen Diges and Stephen Kircher (the "Related parties"), two of the Company's independent directors, pursuant to which the Company and the Related Parties agreed to convert (the "Conversion") an aggregate of $152,970 (principal and accrued interest) in existing unsecured promissory notes owed to the Related Parties for monies advance to the Company into an aggregate of 47,803 restricted shares of Series Q Preferred Stock of the Company at a purchase price of $3.20 per share. The Conversion was retroactive to September 3, 2025.

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

The information in Item 1.01 regarding the issuance of the Series Q Preferred is hereby incorporated herein by reference.

The shares of Series Q Preferred issued by the Company (the "Securities") have not been registered under the Securities Act of 1933, as amended (the "Securities Act"), or any state securities laws, and were issued to the respective recipients in transactions exempt from registration under the Securities Act in reliance upon the exemption from registration provided by Section 4(a)(2) under the Securities Act and/or Regulation D promulgated thereunder. Accordingly, the Securities constitute, and the shares of Company common stock underlying the shares of the Series Q Preferred Stock, when issued upon conversion of the Series Q Preferred Stock, will constitute, "restricted securities" within the meaning of Rule 144 under the Act.

**Item 9.01 Financial Statements and Exhibits.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Exhibits

---

| | |
|:---|:---|
| **Exhibit Number** | **Description** |
| 10.1 | [Form of Debt Conversion Agreement.](ex10-1.htm) |
| 104 | Cover Page Interactive Data File (embedded within the inline XBRL Document) |

---

**SIGNATURES**

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

---

| | | |
|:---|:---|:---|
|  | **NEXTTRIP, INC.** | **NEXTTRIP, INC.** |
| Date: September 18, 2025 | By: | */s/ William Kerby* |
|  | Name: | William Kerby |
|  | Title: | Chief Executive Officer |

---

## Exhibit 10.1

**Exhibit 10.1**

**DEBT CONVERSION AGREEMENT**

This Debt Conversion Agreement (the "<u>Agreement</u>") is entered into effective as of as of September 3, 2025 by and between the investor on the signature page hereto ("<u>Investor</u>") and NextTrip, Inc., a Nevada corporation (the "<u>Company</u>"), with reference to the following facts:

WHEREAS, Investor has loaned certain funds to the Company as described in that certain unsecured promissory note dated ___________ (the "<u>Loan Agreement</u>"), of which the Company and Investor desire to convert $________ (the "<u>Debt</u>") into shares of the Company's newly created Series Q Nonvoting Convertible Preferred Stock (the "<u>Preferred Stock</u>"), with such rights as governed under that certain Certificate of Designation of Series Q Nonvoting Convertible Preferred Stock (the "<u>Certificate of Designation</u>") attached hereto as <u>Exhibit A</u> and incorporated by reference herein.

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Investor and the Company agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. <u>Conversion to Preferred Stock</u>. Effective as of the date hereof, $_____ of the Debt shall be converted into shares of Preferred Stock at a price per share of $3.20 for an aggregate number ______ shares of Preferred Stock (the "<u>Shares</u>"). Upon execution of this Agreement, the Company shall file the Certificate of Designation with the Secretary of State of the State of Nevada and, once filed, issue Shares to the Investor, and the Investor shall acknowledge the repayment of said portion of the Debt under the Loan Agreement. Investor acknowledges and agrees that the conversion of the Preferred Stock into Common Stock of the Company is subject to stockholder approval as required under Nasdaq rules and as provided in the Certificate of Designation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. <u>Investor Representations</u>. The Company is issuing the Shares to Investor in reliance upon the following representations made by Investor:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Investor acknowledges and agrees that the Shares are characterized as "restricted securities" under the Securities Act of 1933 (as amended and together with the rules and regulations promulgated thereunder, the "<u>Securities Act</u>") and that, under the Securities Act and applicable regulations thereunder, such securities may not be resold, pledged or otherwise transferred without registration under the Securities Act or an exemption therefrom. Investor acknowledges and agrees that (i) the Shares are being offered in a transaction not involving any public offering in the United States within the meaning of the Securities Act, and the Shares have not yet been registered under the Securities Act, and (ii) such Shares may be offered, resold, pledged or otherwise transferred only in a transaction registered under the Securities Act, or meeting the requirements of Rule 144, or in accordance with another exemption from the registration requirements of the Securities Act (and based upon an opinion of counsel if the Company so requests) and in accordance with any applicable securities laws of any State of the United States or any other applicable jurisdiction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Investor acknowledges and agrees that (i) the registrar or transfer agent for the Shares will not be required to accept for registration of transfer any shares except upon presentation of evidence satisfactory to the Company that the restrictions on transfer under the Securities Act have been complied with and (ii) any Shares in the form of definitive physical certificates will bear a restrictive legend.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Investor acknowledges and agrees that: (a) the Shares have not been registered under the Securities Act, or under any state securities laws, and are being offered and sold in reliance upon federal and state exemptions for transactions not involving any public offering; (b) Investor is acquiring the Shares solely for its own account for investment purposes, and not with a view to the distribution thereof in a transaction that would violate the Securities Act or the securities laws of any State of the United States or any other applicable jurisdiction; (c) Investor is a sophisticated purchaser with such knowledge and experience in business and financial matters that it is capable of evaluating the merits and risks of purchasing the Shares; (d) Investor has had the opportunity to obtain from the Company such information as desired in order to evaluate the merits and the risks inherent in holding the Shares; (e) Investor is able to bear the economic risk and lack of liquidity inherent in holding the Shares; (f) Investor is an "accredited investor" within the meaning of Rule 501(a) under the Securities Act; and (g) and (g) Investor either has a pre-existing personal or business relationship with the Company or its officers, directors or controlling persons, or by reason of Investor's business or financial experience, or the business or financial experience of their professional advisors who are unaffiliated with and who are not compensated by the Company, directly or indirectly, have the capacity to protect their own interests in connection with the purchase of the Common Stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Investor's investment in the Company pursuant to this Common Stock is consistent, in both nature and amount, with Investor's overall investment program and financial condition.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. <u>Miscellaneous</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) This Agreement shall be construed and enforced in accordance with the laws of the State of Nevada.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) This Agreement constitutes the entire agreement between the parties and supersedes all prior oral or written negotiations and agreements between the parties with respect to the subject matter hereof. No modification, variation or amendment of this Agreement (including any exhibit hereto) shall be effective unless made in writing and signed by both parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Each party to this Agreement hereby represents and warrants to the other party that it has had an opportunity to seek the advice of its own independent legal counsel with respect to the provisions of this Agreement and that its decision to execute this Agreement is not based on any reliance upon the advice of any other party or its legal counsel. Each party represents and warrants to the other party that in executing this Agreement such party has completely read this Agreement and that such party understands the terms of this Agreement and its significance. This Agreement shall be construed neutrally, without regard to the party responsible for its preparation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Each party to this Agreement hereby represents and warrants to the other party that (i) the execution, performance and delivery of this Agreement has been authorized by all necessary action by such party; (ii) the representative executing this Agreement on behalf of such party has been granted all necessary power and authority to act on behalf of such party with respect to the execution, performance and delivery of this Agreement; and (iii) the representative executing this Agreement on behalf of such party is of legal age and capacity to enter into agreements which are fully binding and enforceable against such party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) This Agreement may be executed in any number of counterparts and may be delivered by facsimile transmission, all of which taken together shall constitute a single instrument.

This Agreement is entered into and effective as of the date first written above.

---

| | | |
|:---|:---|:---|
| **COMPANY:** | **COMPANY:** | **INVESTOR:** |
| NextTrip, Inc. | NextTrip, Inc. |  |
| By: |  |  |
|  | Bill Kerby, CEO |  |

---

**<u>Exhibit A</u>**

**Certificate of Designation**