NEXT GROUP HOLDINGS, INC. (OTCMKTS:PLKD) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01. Entry into a Definitive Material Agreement.
On April 5, 2017 Next Group Holdings, Inc, (NXGH or the Company)
signed definitive Agreements with three separate Finance Groups
that hold an aggregated value of$1,106,500in Convertible Notes.
These Agreements allow NXGH to buy back up to 75% of the
outstanding notes through June 30, 2017. These finance groups are
locked up from converting any notes for 90 days from the date of
this agreement The conversion price floor will increase from
$0.02 per share to $0.10 per share if NXGH raises between
$2,000,000 – $2,999,999 and will increase to $0.15 per share if
NXGH is successful in raising $3 million or above in the 90 day
period.
The renegotiated notes are with the following entities:
1- LG Capital Funding LLC $738,250 (NXGH may redeem up to
$526,710)
2- Cerberus Finance Group, Ltd. – $218,250 (NXGH may redeem up to
149,665)
3- Quarum Holdings, LLC – $150,000 (NXGH may redeem up to
$102,743)
Item 9.01. Financial Statements and Exhibit
| 99.1 |
Convertible Note Redemption Agreements |
About NEXT GROUP HOLDINGS, INC. (OTCMKTS:PLKD)
Next Group Holdings, Inc., formerly Pleasant Kids, Inc., through its operating subsidiaries, is engaged in the business of using its technology and certain licensed technology to provide mobile banking, mobility and telecommunications solutions to underserved, unbanked and emerging markets. The Company’s subsidiaries include Next Mobile 360 LLC (Next Mobile), Meimoun & Mammon, LLC (M&M), NxtGn, Inc. (NxtGn) and Next CALA, Inc (Next CALA). Next Mobile is a prepaid Mobile Virtual Network Operator (MVNO), which offers mobile voice, text and data services, as well as international calling services. NEXT CALA is a general purpose reloadable Visa Card. NxtGN is a provider of a multipoint high definition (HD) video platform. It researches, develops, builds, sells or licenses, and supports telecommunications software, equipment, solutions and services for PTTs, telcos, network operators, businesses, enterprises and other end users throughout the world. NEXT GROUP HOLDINGS, INC. (OTCMKTS:PLKD) Recent Trading Information
NEXT GROUP HOLDINGS, INC. (OTCMKTS:PLKD) closed its last trading session at 0.245 with shares trading hands.
