The following is a summary of the Company’s notes payable – related parties at March 31, 2024 and December 31, 2023:

Summary of Notes Payable

Balance - December 31, 2022	$	-
Advances		5,267,500
Debt discount/issue costs		(1,608,900	)
Amortization of debt discount/issue costs		1,406,015
Repayments		(262,500	)
Balance - December 31, 2023		4,802,115
Advances		1,375,000
Debt discount/issue costs - original issue discount		(125,000	)
Debt discount/issue costs - stock issuances		(345,893	)
Amortization of debt discount/issue costs		531,012
Balance - March 31, 2024	$	6,237,234

The following is a summary of the Company’s notes payable – related parties at December 31, 2023 and 2022:


Balance - December 31, 2022	$	-
Advances		5,267,500
Debt discount/issue costs		(1,608,900	)
Amortization of debt discount/issue costs		1,406,015
Repayments		(262,500	)
Balance - December 31, 2023	$	4,802,115

Schedule of Loss on Debt Extinguishment


Fair value of debt and common stock on extinguishment date*	$	1,791,000
Fair value of debt subject to modification		1,500,000
Loss on debt extinguishment - related party	$	291,000

*

The Company valued the issuance of the 150,000 commitment shares at $291,000,based upon the quoted closing trading price on the date of modification ($1.94/share).

Schedule of Loss on Debt Extinguishment


Fair value of debt and common stock on extinguishment date*	$	1,791,000
Fair value of debt subject to modification		1,500,000
Loss on debt extinguishment - related party	$	291,000

*

The Company valued the issuance of the 150,000 commitment shares at $291,000, based upon the quoted closing trading price on the date of modification ($1.94/share).

Schedule of Company’s Notes Payable

The following is a detail of the Company’s notes payable at March 31, 2024 and December 31, 2023, respectively:

Schedule of Company’s Notes Payable

Notes Payable
Note Holder	Issue Date	Maturity Date	Interest Rate			Default Interest Rate			Collateral		March 31, 2024		December 31, 2023
Note #1	January 19, 2024	May 24, 2024		7.00	%		0.00	%	Unsecured	A	$	3,700,000	$	-
Note #2	January 19, 2024	August 19, 2024		Included in repayments			0.00	%	All assets	B		958,500		-
Note #3	January 19, 2024	August 19, 2024		Included in repayments			0.00	%	All assets	C		1,437,750		-
												6,096,250		-
				Less: unamortized debt discount								789,107		-
											$	5,307,143	$	-

A

- Represents amount of consideration owed in connection with the purchase of STAT. See Notes 1 and 6.

B

–The Company executed a note payable (merchant cash advance) with a face amount of $1,491,000 and received net proceeds of $1,000,000. The $491,000 is considered a debt issuance cost and is being amortized over the life of the note to interest expense in the accompanying consolidated statements of operations. Under the terms of the agreement, the lender will be repaid all principal and accrued interest of $53,250 per week over a term of 28 weeks.

C

– The Company executed a note payable (merchant cash advance) with a face amount of $2,236,500 and received net proceeds of $1,500,000. The $736,500 is considered a debt issuance cost and is being amortized over the life of the note to interest expense in the accompanying consolidated statements of operations. Under the terms of the agreement, the lender will be repaid all principal and accrued interest of $79,875 per week over a term of 28 weeks.

Property, Plant and Equipment [Line Items]

Schedule of Company’s Notes Payable

The following is a detail of the Company’s notes payable – related party at March 31, 2024 and December 31, 2023, respectively:

Notes Payable - Related Party
Note Holder	Issue Date	Maturity Date	Interest Rate			Default Interest Rate			Marketable Securities Received		Collateral	March 31, 2024		December 31, 2023
Note #1	January 1, 2020	May 31, 2024		10.00	%		0.00	%	None	A	Unsecured	$	8,600	$	8,600
Note #2	January 3, 2020	May 31, 2024		10.00	%		0.00	%	None	A	Unsecured		30		30
Note #3	March 4, 2020	May 31, 2024		10.00	%		0.00	%	None	A	Unsecured		20		20
Note #4	May 18, 2020	May 31, 2024		10.00	%		0.00	%	None	A	Unsecured		25		25
Note #5	June 24, 2020	May 31, 2024		10.00	%		0.00	%	None	A	Unsecured		25		25
Note #6	August 31, 2020	May 31, 2024		10.00	%		0.00	%	None	A	Unsecured		100		100
Note #7	March 1, 2021	May 31, 2024		10.00	%		0.00	%	None	A	Unsecured		100		100
Note #8	April 19, 2021	May 31, 2024		10.00	%		0.00	%	None	A	Unsecured		250		250
Note #9	September 3, 2021	May 31, 2024		10.00	%		0.00	%	None	A	Unsecured		500		500
Note #10	September 9, 2021	May 31, 2024		10.00	%		0.00	%	None	A	Unsecured		25,000		25,000
Note #11	May 4, 2023	May 31, 2024		10.00	%		0.00	%	None	A	Unsecured		15,000		15,000
Note #12	May 30, 2023	May 31, 2024		18.00	%		0.00	%	None	B	Unsecured		100,000		100,000
Note #13	June 7, 2023	May 31, 2024		18.00	%		0.00	%	None	B	Unsecured		100,000		100,000
Note #14	June 29, 2023	May 31, 2024		18.00	%		0.00	%	None	B	Unsecured		10,000		10,000
Note #15	July 3, 2023	May 31, 2024		18.00	%		0.00	%	None	B	Unsecured		250,000		250,000
Note #16	July 5, 2023	May 31, 2024		18.00	%		0.00	%	None	B	Unsecured		200,000		200,000
Note #17	July 27, 2023	May 31, 2024		18.00	%		0.00	%	None	B	Unsecured		100,000		100,000
Note #18	August 2, 2023	May 31, 2024		18.00	%		0.00	%	None	B	Unsecured		100,000		100,000
Note #19	August 8, 2023	May 31, 2024		18.00	%		0.00	%	None	B	Unsecured		80,000		80,000
Note #20	August 15, 2023	May 31, 2024		18.00	%		0.00	%	None	B	Unsecured		200,000		200,000
Note #21	August 23, 2023	May 31, 2024		18.00	%		0.00	%	None	B	Unsecured		150,000		150,000
Note #22	August 30, 2023	May 31, 2024		18.00	%		0.00	%	None	B	Unsecured		170,000		170,000
Note #23	September 6, 2023	May 31, 2024		18.00	%		0.00	%	None	B	Unsecured		250,000		250,000
Note #24	September 8, 2023	May 31, 2024		18.00	%		0.00	%	None	B	Unsecured		1,000,000		1,000,000
Note #25	September 13, 2023	May 31, 2024		18.00	%		0.00	%	None	B	Unsecured		100,000		100,000
Note #26	September 22, 2023	May 31, 2024		18.00	%		0.00	%	None	B	Unsecured		75,000		75,000
Note #27	October 30, 2023	May 31, 2024		18.00	%		0.00	%	None	B	Unsecured		10,000		10,000
Note #28	November 2, 2023	May 31, 2024		18.00	%		0.00	%	None	B	Unsecured		50,000		50,000
Note #29	November 3, 2023	May 31, 2024		18.00	%		0.00	%	None	B	Unsecured		150,000		150,000
Note #30	November 8, 2023	May 31, 2024		18.00	%		0.00	%	None	B	Unsecured		250,000		250,000
Note #31	November 15, 2023	May 31, 2024		18.00	%		0.00	%	None	B	Unsecured		75,000		75,000
Note #32	November 21, 2023	May 31, 2024		18.00	%		0.00	%	None	B	Unsecured		200,000		200,000
Note #33	December 5, 2023	May 31, 2024		18.00	%		0.00	%	None	B	Unsecured		200,000		200,000
Note #34	February 21, 2024	April 21, 2024		18.00	%		0.00	%	None		Unsecured		45,000		-
Note #35	February 28, 2024	April 28, 2024		18.00	%		0.00	%	52,000	C	Unsecured		300,000		-
Note #36	March 4, 2024	May 4, 2024		18.00	%		0.00	%	None		Unsecured		50,000		-
Note #37	March 7, 2024	May 7, 2024		18.00	%		0.00	%	None		Unsecured		100,000		-
Note #38	March 8, 2024	May 8, 2024		18.00	%		0.00	%	52,000	C	Unsecured		185,000		-
Note #39	March 14, 2024	May 14, 2024		18.00	%		0.00	%	None		Unsecured		150,000		-
Note #40	March 15, 2024	May 15, 2024		18.00	%		0.00	%	52,000	C	Unsecured		150,000		-
Note #41	March 25, 2024	May 25, 2024		18.00	%		0.00	%	None		Unsecured		150,000		-
Note #42	March 26, 2024	May 26, 2024		18.00	%		0.00	%	34,722	C	Unsecured		100,000		-
Note #43	March 27, 2024	May 27, 2024		18.00	%		0.00	%	None		Unsecured		135,000		-
									190,722			$	5,234,650	$	3,869,650

A	– These notes have a stated interest rate of 4-5%. The Company has recorded an additional 5-6% of imputed interest (10% in total) to reflect the market rate for this type of debt.

NEXTNRG HOLDING CORP AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

MARCH 31, 2024

(UNAUDITED)

B

– Prior to January 1, 2024, these notes had a stated interest rate of 4%-5%. The Company had recorded an additional 5%-6% of imputed interest (10% total) to reflect the market rate for this type of debt. Effective January 1, 2024, these notes were amended to reflect an interest rate of 18%, as a result, the Company no longer imputes interest on these notes. There were no other changes to the terms of these notes.

C	- These shares have been recorded at fair value on the consolidated balance sheets. These represent shares held in EZFL (marketable securities – related party – see note 3) in connection with advances made totaling $605,000 to EZFL.

During the three months ended March 31, 2024 and the year ended December 31, 2023, the Company received advances of $1,365,000 and $3,835,000, respectively.

During the three months ended March 31, 2024 and 2023, the Company recorded imputed interest expense of $742 and $0, respectively. See Note 8.

Notes Payable

The following is a detail of the Company’s notes payable at March 31, 2024 and December 31, 2023, respectively:

Schedule of Company’s Notes Payable

Notes Payable
Note Holder	Issue Date	Maturity Date	Interest Rate			Default Interest Rate			Collateral		March 31, 2024		December 31, 2023
Note #1	January 19, 2024	May 24, 2024		7.00	%		0.00	%	Unsecured	A	$	3,700,000	$	-
Note #2	January 19, 2024	August 19, 2024		Included in repayments			0.00	%	All assets	B		958,500		-
Note #3	January 19, 2024	August 19, 2024		Included in repayments			0.00	%	All assets	C		1,437,750		-
												6,096,250		-
				Less: unamortized debt discount								789,107		-
											$	5,307,143	$	-

A

- Represents amount of consideration owed in connection with the purchase of STAT. See Notes 1 and 6.

B

–The Company executed a note payable (merchant cash advance) with a face amount of $1,491,000 and received net proceeds of $1,000,000. The $491,000 is considered a debt issuance cost and is being amortized over the life of the note to interest expense in the accompanying consolidated statements of operations. Under the terms of the agreement, the lender will be repaid all principal and accrued interest of $53,250 per week over a term of 28 weeks.

C

– The Company executed a note payable (merchant cash advance) with a face amount of $2,236,500 and received net proceeds of $1,500,000. The $736,500 is considered a debt issuance cost and is being amortized over the life of the note to interest expense in the accompanying consolidated statements of operations. Under the terms of the agreement, the lender will be repaid all principal and accrued interest of $79,875 per week over a term of 28 weeks.

Property, Plant and Equipment [Line Items]

Schedule of Company’s Notes Payable

The following is a detail of the Company’s note payable (non-vehicles) at March 31, 2024 and December 31, 2023, respectively:

Note Payable
Issue Date	Maturity Date	Interest Rate	Default Interest Rate	Collateral	March 31, 2024		December 31, 2023
April 16, 2023	December 12, 2024	-*	N/A	All assets	$	69,253	$	141,961
				Less: unamortized debt discount		11,351		15,521
					$	57,902	$	126,440

*

approximately 10%

The following is a summary of the Company’s note payable (non-vehicles) at December 31, 2023 and 2022, respectively:


Balance - December 31, 2022	$	-
Face amount of note		275,250
Debt discount		(25,250	)
Amortization of debt discount		9,729
Repayments		(133,289	)
Balance - December 31, 2023	$	126,440

The following is a detail of the Company’s note payable (non-vehicles) at December 31, 2023 and 2022, respectively:

Notes Payable

Issue Date

Maturity Date

Interest Rate

Default Interest Rate

Collateral

December 31,

2023

December 31,

2022

April 16, 2023

December 12, 2024

*

N/A

All assets

$

141,961

$

-

*

initially 6.5%, however, subject to change at each reporting period.

Less: unamortized debt discount

15,521

-

$

126,440

$

-

Property, Plant and Equipment [Line Items]

Schedule of Company’s Notes Payable

The following is a detail of the Company’s notes payable for its vehicles at March 31, 2024 and December 31, 2023, respectively:

Notes Payable - Vehicles
Issue Date	Maturity Date	Interest Rate			Default Interest Rate	Collateral	March 31, 2024		December 31, 2023
January 15, 2021	November 15, 2025		11.00	%	N/A	This vehicle	$	24,994	$	28,370
April 9, 2019	February 17, 2024		4.90	%	N/A	This vehicle		-		1,873
December 15, 2021	December 18, 2024		3.50	%	N/A	This vehicle		28,487		37,823
December 16, 2021	December 18, 2024		3.50	%	N/A	This vehicle		27,885		37,023
January 11, 2022	January 25, 2025		3.50	%	N/A	This vehicle		31,602		40,911
January 11, 2022	January 25, 2025		3.50	%	N/A	This vehicle		31,602		40,911
January 11, 2022	January 25, 2025		3.50	%	N/A	This vehicle		31,602		40,911
January 11, 2022	January 25, 2025		3.50	%	N/A	This vehicle		31,602		40,911
February 8, 2022	February 10, 2025		3.50	%	N/A	This vehicle		33,965		43,046
February 8, 2022	February 10, 2025		3.50	%	N/A	This vehicle		33,965		43,046
February 8, 2022	February 10, 2025		3.50	%	N/A	This vehicle		34,673		43,944
February 8, 2022	February 10, 2025		3.50	%	N/A	This vehicle		33,964		43,045
April 5, 2022	April 20, 2025		3.50	%	N/A	This vehicle		40,929		50,157
April 5, 2022	April 20, 2025		3.50	%	N/A	This vehicle		40,929		50,157
April 5, 2022	April 20, 2025		3.50	%	N/A	This vehicle		41,929		51,157
April 5, 2022	April 20, 2025		3.50	%	N/A	This vehicle		41,504		50,862
April 5, 2022	April 20, 2025		3.50	%	N/A	This vehicle		41,555		50,925
April 5, 2022	April 20, 2025		3.50	%	N/A	This vehicle		41,555		50,925
April 5, 2022	April 20, 2025		3.50	%	N/A	This vehicle		41,555		50,925
April 5, 2022	April 20, 2025		3.50	%	N/A	This vehicle		41,555		50,925
August 4, 2022	August 18, 2025		4.99	%	N/A	This vehicle		17,819		20,837
August 4, 2022	August 18, 2025		4.99	%	N/A	This vehicle		17,820		20,838
November 1, 2021	November 11, 2025		4.84	%	N/A	This vehicle		15,668		17,913
November 1, 2021	November 11, 2025		0.00	%	N/A	This vehicle		16,150		18,572
November 1, 2021	November 11, 2025		0.00	%	N/A	This vehicle		16,150		18,572
June 1, 2022	May 23, 2026		0.90	%	N/A	This vehicle		21,565		24,035
June 1, 2022	May 23, 2026		0.90	%	N/A	This vehicle		21,562		24,032
April 27, 2022	May 10, 2027		9.05	%	N/A	This vehicle		100,283		107,047
April 27, 2022	May 1, 2026		8.50	%	N/A	This vehicle		66,558		73,585
								969,429		1,173,278
						Less: current portion		616,860		811,516
						Long term portion	$	352,569	$	361,762

Notes Payable – Vehicles
Issue Date	Maturity Date	Interest Rate			Default Interest Rate	Collateral	December 31, 2023		December 31, 2022
January 15, 2021	November 15, 2025		11.00	%	N/A	This vehicle	$	28,370	$	40,976
April 9, 2019	December 12, 2023		7.44	%	N/A	This vehicle		-		8,174
April 9, 2019	December 12, 2023		7.44	%	N/A	This vehicle		-		6,986
April 9, 2019	February 17, 2024		4.90	%	N/A	This vehicle		1,873		10,670
December 15, 2021	December 18, 2024		3.50	%	N/A	This vehicle		37,823		74,357
December 16, 2021	December 18, 2024		3.50	%	N/A	This vehicle		37,023		72,784
January 11, 2022	January 25, 2025		3.50	%	N/A	This vehicle		40,911		83,505
January 11, 2022	January 25, 2025		3.50	%	N/A	This vehicle		40,911		83,505
January 11, 2022	January 25, 2025		3.50	%	N/A	This vehicle		40,911		83,505
January 11, 2022	January 25, 2025		3.50	%	N/A	This vehicle		40,911		83,505
February 8, 2022	February 10, 2025		3.50	%	N/A	This vehicle		43,046		78,585
February 8, 2022	February 10, 2025		3.50	%	N/A	This vehicle		43,046		78,585
February 8, 2022	February 10, 2025		3.50	%	N/A	This vehicle		43,944		80,226
February 8, 2022	February 10, 2025		3.50	%	N/A	This vehicle		43,045		78,585
April 5, 2022	April 20, 2025		3.50	%	N/A	This vehicle		50,157		86,271
April 5, 2022	April 20, 2025		3.50	%	N/A	This vehicle		50,157		86,271
April 5, 2022	April 20, 2025		3.50	%	N/A	This vehicle		51,157		86,270
April 5, 2022	April 20, 2025		3.50	%	N/A	This vehicle		50,862		87,481
April 5, 2022	April 20, 2025		3.50	%	N/A	This vehicle		50,925		87,594
April 5, 2022	April 20, 2025		3.50	%	N/A	This vehicle		50,925		87,594
April 5, 2022	April 20, 2025		3.50	%	N/A	This vehicle		50,925		87,594
April 5, 2022	April 20, 2025		3.50	%	N/A	This vehicle		50,925		87,594
August 4, 2022	August 18, 2025		4.99	%	N/A	This vehicle		20,837		32,536
August 4, 2022	August 18, 2025		4.99	%	N/A	This vehicle		20,838		32,536
November 1, 2021	November 11, 2025		4.84	%	N/A	This vehicle		17,913		26,578
November 1, 2021	November 11, 2025		0.00	%	N/A	This vehicle		18,572		28,261
November 1, 2021	November 11, 2025		0.00	%	N/A	This vehicle		18,572		28,261
June 1, 2022	May 23, 2026		0.90	%	N/A	This vehicle		24,035		33,813
June 1, 2022	May 23, 2026		0.90	%	N/A	This vehicle		24,032		33,813
April 27, 2022	May 10, 2027		9.05	%	N/A	This vehicle		107,047		132,246
April 27, 2022	May 1, 2026		8.50	%	N/A	This vehicle		73,585		101,237
								1,173,278		2,009,896

						Less: current portion		819,788		811,516
						Long term portion	$	353,490	$	1,198,380