NextTrip, Inc. Issues 89,430 Shares to Settle Board Compensation Debt

What Happened
NextTrip, Inc. (NTRP) filed an 8-K reporting that on July 31, 2026 it entered into a Securities Purchase Agreement with five directors (former directors Salvatore Battinelli, Jacob Brunsberg, Dennis Duitch, Kent Summers, and current director Donald Monaco). The Company issued 89,430 shares of common stock at $1.62 per share to satisfy and cancel the remaining $144,876.71 of unpaid board compensation (original outstanding payable was $289,753.42, of which $144,876.71 was repaid in cash). Upon issuance the Debt is fully satisfied and the Purchasers released related claims.

Key Details

• Date: July 31, 2026; Purchase price: $1.62 per share (closing price that date).
• Shares issued: 89,430 common shares; cash repaid: $144,876.71; remaining debt settled: $144,876.71.
• Original unpaid board compensation (inclusive of interest): $289,753.42.
• Transaction approved by disinterested directors and the audit committee under Nevada law, Nasdaq rules and the Company’s Related Party Transactions Policy; sale relied on Section 4(a)(2) and Rule 506 (Regulation D) — securities unregistered.

Why It Matters
This transaction removes a $144,876.71 liability from NextTrip’s balance sheet by issuing common stock, increasing shares outstanding by 89,430 and relieving the company of related claims. Investors should note the related-party nature (directors were the recipients), the board and audit committee review, and that the shares were issued in a private, unregistered sale under Reg D. The deal reduces cash outflow but has a dilutive effect equal to the issued shares.