SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
Current Report
Pursuant to Section 13 or 15(d) of the
Securities Act of 1934
June 26, 2017
(Date of earliest event Reported)
NEXT GROUP HOLDINGS, INC.
(Exact Name of Registrant as Specified in its Charter)
| Florida | | 333-148987 | | 20-3537265 |
(State or other jurisdiction
of incorporation) | | (Commission File Number) | | (I.R.S. Employer
Identification No.) |
1111 Brickell Avenue, Suite 2200, Miami, FL, 33131
(Address of principal executive offices)
Registrant's telephone number, including area code: (800) 611-3622
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
NOTE ABOUT FORWARD LOOKING STATEMENTS
Most of the matters discussed within this report include forward-looking statements on our current expectations and projections about future events. In some cases you can identify forward-looking statements by terminology such as “may,” “should,” “potential,” “continue,” “expects,” “anticipates,” “intends,” “plans,” “believes,” “estimates,” and similar expressions. These statements are based on our current beliefs, expectations, and assumptions and are subject to a number of risks and uncertainties, many of which are difficult to predict and generally beyond our control, that could cause actual results to differ materially from those expressed, projected or implied in or by the forward-looking statements. Such risks and uncertainties include the risks noted under “Item 1A Risk Factors.” We undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events, or otherwise.
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
CEO and President/COO sign employment agreements effective Jan. 15, 2016
On June 26, 2017, the Board of Directors of Next Group Holdings, Inc. (the “Company”) approved the employment agreements of Shalom Arik Maimon as the Company’s CEO and Michael De Prado as the Company's President and Chief Operating Officer. Both officers had been working under verbal agreements and these documents formalize the compensation agreements.
Only one family relationship exists between Mr. Maimon and any director or executive officer of the Company. Mr. Maimon’s sister, Natali Dadon, is a member of the Board of Directors. Mr. Maimon has no direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.
There are no family relationships between Mr. De Prado and any director or executive officer of the Company, and he has no direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
On June 26, 2017, the Board of Directors of Next Group Holdings, Inc. (the “Company”) appointed Michael De Prado, the Company's President and Chief Operating Officer, as interim Chief Financial Officer, effective immediately. Mr. De Prado has served as the Company's President and Chief Operating Officer since January 15, 2016 and will continue in this role.
There are no family relationships between Mr. De Prado and any director or executive officer of the Company, and he has no direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.
No new compensatory or severance arrangements were entered into in connection with Mr. De Prado's appointment as interim Chief Financial Officer.
Item 9.01 Financial Statements and Exhibit
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Dated: June 30, 2017 | NEXT GROUP HOLDINGS, INC. |
| | | |
| | By: | /s/ Arik Maimon |
| | | Arik Maimon |
| | | Chief Executive Officer |
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