EzFill Holdings (EZFL) has released an update.
EzFill Holdings, Inc. has executed amendments with Next Charging, LLC and AJB Capital Investments, LLC, establishing a maximum share conversion price of $1.54 for specific promissory notes. Additionally, EzFill entered into a new promissory note with Next, securing a $165,000 loan for working capital with interest terms that escalate after nine months and provisions for early repayment upon a capital raise. Notably, Next’s managing member, Michael Farkas, holds a significant stake in EzFill, which is poised to acquire Next as a wholly-owned subsidiary, pending the closure of earlier agreements. Amid these financial maneuvers, EzFill faces delisting from Nasdaq due to non-compliance with the stockholders’ equity requirement, prompting the company to appeal with plans to regain its listing status.
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