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EX-99.1 - EXHIBIT 99.1 - Monaker Group, Inc.v242194_ex99-1.htm
EX-99.2 - EXHIBIT 99.2 - Monaker Group, Inc.v242194_ex99-2.htm
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): October 4, 2011

Next 1 Interactive, Inc.
(Exact Name of Registrant as Specified in Charter)

Nevada
000-52669
26-3509845
(State or other jurisdiction of
incorporation or organization)
(Commission File Number)
(IRS Employee Identification No.)
 
2690 Weston Road, Suite 200
Weston, FL 33331
(Address of Principal Executive Offices)

(954) 888-9779
(Registrant’s Telephone Number, Including Area Code)

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 (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 
 

 
 
Item 2.03
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
 
On October 4, 2011 and October 14, 2011, Next 1 Interactive, Inc. issued a $300,000 and $200,000 principal amount secured convertible promissory note, respectively, to Donald Monaco, each of which pays interest at the rate of 8% per annum, matures on May 31, 2012 and is convertible into common stock at a conversion price of $0.012 per share until January 15, 2012 and from January 16, 2012 until maturity, at a conversion price equal to 90% of the average closing price of the common stock during the ten (10) trading days prior to conversion but in no event shall the conversion price be less than $0.05 per share. The form of note is attached hereto as Exhibit 99.1 and Exhibit 99.2 and is incorporated by reference into this Item 2.03.

Item 9.01  Financial Statements and Exhibits.

(d)  Exhibits.

 
99.1
Form of Note dated October 4, 2011.

 
99.2
Form of Note dated October 14, 2011.
 
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.

 
NEXT 1 INTERACTIVE, INC.
 
       
Date:  December 2, 2011
By:
/s/ William Kerby
 
   
William Kerby
 
   
Chief Executive Officer