NextNRG Agrees to Convert $7 Million in Debt Into Preferred Shares

NextNRG agreed to exchange $7M in debt and accrued obligations owed to CEO Michael D. Farkas for 7,000 Series D preferred shares. The exchange is expected to eliminate $7M of indebtedness but alone will not meet Nasdaq’s $2.5M stockholders’ equity requirement.Material DetailsContext by AI AnalystTh…