NextTrip entered into short-term unsecured loans totaling $250,000 with the Donald P. Monaco Insurance Trust, a related party, via borrowings on June 25 and June 30, 2026. The loans accrue simple interest at 7.5% and are part of a series that now totals $950,000 in principal outstanding. The maturity of the Monaco Loans was extended to July 15, 2026. The financing was approved by the Board and Audit Committee and is intended to support near-term liquidity needs.
Agreement details:
- Agreement type: Short-term unsecured related-party loans
- Counterparty: Donald P. Monaco Insurance Trust
- Signed / Effective: Jun 30 2026 / same
- Duration / Termination: Through Jul 15 2026
- Reason: Provide near-term liquidity from related party while extending maturity
Original SEC Filing:
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