NextTrip, Inc. 8-K

What Happened

• NextTrip, Inc. filed an 8-K on July 1, 2026 reporting that it borrowed $150,000 and $100,000 in June (the “June Loans”) from The Donald P. Monaco Insurance Trust. Donald P. Monaco, a NextTrip director, is the trustee of the Trust.
• The June Loans are part of a series of short-term unsecured loans from the Trust (the “Monaco Loans”) that began March 25, 2026; the outstanding principal under those loans is $950,000 as of the filing date. Interest accrues at 7.5% simple per year and the maturity date of the Monaco Loans was extended to July 15, 2026. The Board of Directors and the Audit Committee approved the Monaco Loans.

Key Details

• June Loans: $150,000 and $100,000 (total $250,000).
• Total outstanding Monaco Loans as of filing: $950,000.
• Interest rate: 7.5% simple interest per annum.
• Maturity extended to: July 15, 2026; loans are unsecured.
• Related party: lender is a trust whose trustee, Donald P. Monaco, is a company director.

Why It Matters

• These related‑party short-term loans increase NextTrip’s near-term liabilities and carry a 7.5% interest cost, which may affect short-term cash needs and financing plans.
• The loans were approved by the company’s Board and Audit Committee, which is material information for investors assessing governance and conflict-of-interest oversight.
• Investors should note the July 15, 2026 maturity date as a near-term repayment or refinancing obligation and monitor future disclosures for how the company addresses this short-term financing.