{"url_path":"/sec/oth/8-k/2026-05-14/item-2-03","section_key":"item-2-03","section_title":"Item 2.3 Creation of a Direct Financial Obligation**","topic":"sec","document":{"doc_type":"8-K","doc_date":"2026-05-14","source_url":"https://www.sec.gov/Archives/edgar/data/2067767/0001493152-26-022878-index.html","accession_number":"0001493152-26-022878","cik":"0002067767","ticker":"NXB","issuer_name":"NextBoat Inc.","edgar_url":"https://www.sec.gov/Archives/edgar/data/2067767/0001493152-26-022878-index.html","primary_entity_key":"0002067767","primary_entity_name":"OFF THE HOOK YS INC."},"word_count":108,"has_tables":true,"body_markdown":"** **\n\n**Item\n2.3 Creation of a Direct Financial Obligation**\n\n \n\nOn\nMay 13, 2026, the Company issued two promissory notes, one in the amount of $2,466,667 and one for $500,000. The $2,466,667 note is due\nin 24 monthly payments and bears interest at 6.0% per annum and the $500,000 note is due 365 days from issuance and bears no interest\nexcept in the event of default.. The $2,466,667 note is secured by the membership interests purchased in the MIPA. The above descriptions\nof the notes are summaries and are qualified by the terms of the actual notes. Copies of the promissory notes are filed as exhibits 4.1 and 4.2 hereto"}