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Next Group Holdings Announces It Signed Agreements With Two Largest Note Holders To Repay and Adjust Financial Instruments
Next Group Holdings Announces It Signed Agreements With Two Largest Note Holders To Repay and Adjust Financial Instruments.
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[{"type":"text","content":"\n\n\n\nNext Group Holdings Announces It Signed Agreements With Two Largest Note Holders To Repay and Adjust Financial Instruments\n\n\n\n\n\nNext Group Holdings Announces It Signed Agreements With Two Largest Note Holders To Repay and Adjust Financial Instruments\nPR Newswire\nMIAMI, October 12, 2017\n\n\n\nMIAMI, October 12, 2017 /PRNewswire/ --\n\nNext Group Holdings, Inc. (OTCQB: NXGH) (the \"Company\") today announces that it has signed Convertible Note Redemption and Adjustment Agreements with two finance groups that hold an aggregated value of $1,059,259 in Convertible Notes issued by Next Group.\n\nNXGH has reached agreements with Cerberus Finance Group, Ltd. and LG Capital Funding, LLC to repay $44,000 and $11,000 respectively per month for eight months commencing on November 9, 2017. In the event that Next Group is able to repay 70% of the remaining Convertible Notes by December 31, 2017, these lenders would delay future conversions until June 2018. The current note amounts are: $266,310 for Cerberus Finance Group, Ltd. and $792,949 for LG Capital Funding, LLC.\n\n\"In anticipation that Next Group Holdings, Inc. closes on our acquisition of Limecom, Inc, we expect yearly revenue and profit to provide us the ability to take control of our finances and solidify our complete corporate structure,\" said Arik Maimon, NXGH's Chairman and CEO. \"This renegotiation of financial instruments will strengthen our company and provide future stability for continued development of projects that will bring NXGH to the next levels of profitability and value for our shareholders,\" added Maimon.\n\n\"We appreciate the support that Cerberus and LG Capital have provided NXGH from the beginning, however now, with the anticipated acquisition of Limecom, we expect to become a $130,000,000 revenue and $2,500,000 EBITA Financial Technology company,\" said Michael De Prado NXGH's President & COO. \"We expect to reach new levels of growth and stability, and have tremendous faith in the future of NXGH organic revenues and profitability,\" added De Prado.\n\n\"It's been a pleasure for me to be part of NXGH's recent achievement and I am very glad Limecom is able to help the company speed up the heavy lifting process,\" said Orlando Taddeo, Limecom CEO & President. \"The company is well positioned now to accomplish its goals,\" added Taddeo....