Monaker Group, Inc. (OTCMKTS:MKGI) Files An 8-K Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
Item 9.01
On April 3, 2019, Monaker Group, Inc. (the “Company”, “we” and “us”), borrowed $125,000 from William Kerby, the Chief Executive Officer and member of the Board of Directors of the Company. The amount borrowed was evidenced by a Promissory Note dated April 3, 2019. The amount borrowed to the note accrues interest at 12% per annum (18% upon the occurrence of an event of default) and is due and payable on April 30, 2019.
The foregoing description of the note is not complete and is qualified in its entirety by reference to the full text thereof, incorporated by reference asExhibit 10.1to this Current Report on Form 8-K, and incorporated by reference in thisItem 9.01.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits
| Exhibit Number | Description |
| 10.1 | $125,000 Promissory Note dated April 3, 2019, entered into by Monaker Group, Inc. in favor of William Kerby |
Monaker Group, Inc. Exhibit
EX-10.1 2 ex10-1.htm $125,…
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About Monaker Group, Inc. (OTCMKTS:MKGI)
Monaker Group, Inc., formerly Next 1 Interactive, Inc., is a technology driven travel and logistics company. The Company operates NextTrip.com, an online marketplace for the alternative lodging rental (ALR) industry. It operates through a segment consisting of various products and services related to its online marketplace of travel and related logistics, including destination tours/activities, accommodation rental listings, hotel listings, air and car rental. Its NextTrip.com has a capacity of uniting a range of travelers seeking ALR online with property owners and managers. As of February 29, 2016, the Company operated its online marketplace through 115 Websites in 16 languages, with Websites in Europe, Asia, South America and the United States. As of February 29, 2016, its global marketplace included approximately 100,000 paid listings on subscriptions and contracted with over 1.1 million listings under the performance based listing arrangement ALRs.
