What changed in this filing

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Item 2. Unregistered Sales of Equity Securities

2025-08-14 compared with 2025-05-21 · 36 added, 37 removed, 6 unchanged (92% of the section changed)

UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

Issuance of Exchange

of Exchange Shares

the Next Closing, the Company issued 100,000,000 Exchange Shares, 50,000,000 of which vested as of February 13, 2025 (the date of the

Next Closing), and 50,000,000 of which were subject to vesting or forfeiture, as consideration paid to the Next Holding Shareholders.

Series B Convertible Preferred Stock –

Distribution – Related Party

On February 13, 2025, immediately prior to the

consummation of the common control merger, the Company effectuated a non-cash distribution of 1,400,000 shares of Series B Convertible

Preferred Stock to its Chief Executive Officer, a related party.

The transaction was executed in fulfillment of a previously established

arrangement between the CEO and NextNRG LLC, a wholly owned subsidiary of the Company and former holder of the Series B shares.

this arrangement, the CEO had advanced personal funds to NextNRG LLC to facilitate the original acquisition of the shares on behalf of

Stock Issued for Cash and Warrants –

Public Offering

On February 18, 2025, the Company sold 5,000,000

shares of common stock for gross proceeds of $15,000,000 ($3/share).

In connection with this offering, the Company paid direct offering

costs of $1,538,914, resulting in net proceeds of $13,461,086.

Additionally, the Company granted the underwriter

the option to purchase up to 750,000 additional over-allotment shares of common stock at $3/share, for a period of 45 days (through March

In connection with this option, the Company issued an additional 75,378 shares of common stock for gross proceeds of $226,134

In connection with this offering, the Company paid direct offering costs of $18,091, resulting in net proceeds of $208,043.

Stock Issued for Services

During the quarter ended March 31, 2025, the Company

issued 410,774 shares of common stock to consultants for services rendered, having a fair value of $1,468,391 ($2.72 - $3.90/share), based

upon the quoted closing trading price.

Stock Issued as Loan Extension Fee

In connection with the extension of a loan, the

Company was required to pay a fee of $150,000 in common stock.

The Company issued 41,437 shares of common stock ($3.62/share).

Series A and B – Preferred Stock Dividends

Payable in Common Stock

In accordance with the terms of the Company’s

Series A and B preferred stock, the Company is required to accrue dividends on a quarterly basis.

Similar to the Series A and B convertible

preferred stock, dividends are accrued using a fixed conversion price.

B Convertible Preferred Stock – Distribution – Related Party

February 13, 2025, immediately prior to the consummation of the common control merger, the Company effectuated a non-cash distribution

of 1,400,000 shares of Series B convertible preferred stock to its Chief Executive Officer, a related party.

The transaction was executed

in fulfillment of a previously established arrangement between the CEO and NextNRG LLC, a wholly owned subsidiary of the Company and

former holder of the Series B shares.

Under this arrangement, the CEO had advanced personal funds to NextNRG LLC to facilitate the original

acquisition of the shares on behalf of the Company.

Issued for Cash and Warrants – Public Offering

February 18, 2025, the Company sold 5,000,000 shares of common stock for gross proceeds of $15,000,000 ($3/share).

In connection with

this offering, the Company paid direct offering costs of $1,538,914, resulting in net proceeds of $13,461,086.

Additionally,

the Company granted the underwriter the option to purchase up to 750,000 additional over-allotment shares of common stock at $3/share,

for a period of 45 days (through March 3, 2025).

In connection with this option, the Company issued an additional 75,378 shares of common

stock for gross proceeds of $226,134 ($3/share).

In connection with this offering, the Company paid direct offering costs of $18,091,

resulting in net proceeds of $208,043.

Issued for Services

the quarter ended June 30, 2025, the Company issued 410,774 shares of common stock to consultants for services rendered, having a fair

value of $1,468,391 ($2.72 - $3.90/share), based upon the quoted closing trading price.

Issued as Loan Extension Fee

connection with the extension of a loan, the Company was required to pay a fee of $150,000 in common stock.

The Company issued 41,437

shares of common stock ($3.62/share).

A and B Convertible Preferred Stock – Preferred Stock Dividends Payable in Common Stock

accordance with the terms of the Company’s Series A and B convertible preferred stock, the Company is required to accrue

dividends on a quarterly basis.

Similar to the Series A and B convertible preferred stock, dividends are accrued using a fixed

conversion price.

At December 31, 2024, the Company had accrued dividends totaling $258,271.

In the three months ended March 31, 2025, the Company issued 93,576 shares of common stock to settle the outstanding dividends

The issuance of the above

securities was made pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act and/or Rule 506 of

Regulation D promulgated thereunder.

In the six months ended June 30,

2025, the Company issued 93,576 shares of common stock to settle the outstanding dividends due.

issuance of the above securities was made pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities

Act and/or Rule 506 of Regulation D promulgated thereunder.

DEFAULTS UPON SENIOR SECURITIES

1 unchanged sentence

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 2. Unregistered Sales of Equity Securities