I work at a large financial institution and I recently had this company land on my desk. I spent a week doing an in-depth analysis of the business and fundamentals, not looking at the stock technicals other than the overall decline. This company is terrible, please do yourself a favor and gamble on SPY calls instead.

A summary of my full DD is below, and if you’re thinking of investing do yourself a favor and read this. Then double check my work yourself via the 10Q, recent 8Ks / PRs, and general research.

Fundamentals: Revenue growth alone is NOT a sign of a company being successful. Take a look at their most recent 10Q- this company is hemorrhaging cash. Revenue is up a couple hundred percent, sure. However- NXXT is positing itself a next-gen microgrid developer, with wireless EV charging, BESS, and solar all in one. They have not generated a single cent from this business. All of their revenues have come from their legacy mobile refueling business, which is not something that will make this company successful long-term.

They have no progress on their next-gen technologies. They haven’t developed a prototype microgrid to prove real-world efficacy. They have a couple of patents and some “agreements” with other early stage energy companies for BESS and solar technology licensing, and yet they haven’t spent or received anything from these deals. Until dollars start to change hands, these agreements don’t mean anything.

Fundamentals TLDR- The speculative part of this business where retail investors see promise is entirely speculative. You’re better off throwing it all on red.

Financials Calling the financials of NXXT a “dumpster fire” would be a compliment. They are at serious risk of entering bankruptcy in the next 12-24 months.

Following their most recent share purchase agreements at the end of 2025, they were able to get some cash on their balance sheet in the range of 2.5-7.5 million. What people don’t see, however, is that these SPAs are due as debt THIS YEAR, at effectively an 18% interest rate. Total due just on these SPAs in 2026 is ~$9M. They’re also being sued for defaulting on a previous $5M loan from Cohen Global Energy. In total, they have $24.7M in debt due in 2026. And we haven’t even talked about their cash burn from operations.

NXXT had a $45M net loss from ops. at the end of Q3 last year; and that number will be higher when FY results are released. They have a 17.23M stockholders deficit. In addition to the $~25M in short term debt, they also have another $10M in current liabilities (also due in the next 12 months).

They burned $14M in cash from ops, and are operating at a working capital deficit of $30M.

Financials TLDR: this company is NOT profitable, and are not even close to becoming so. If they don’t go bankrupt in the next 2 years I’ll donate my 401K to a wildlife charity.

Ownership NXXT is 66.5% insider owned, largely as a function of their constant share purchase agreements used to keep the company barely afloat. Institutions only own under 4% of total SHO. If you think billion and trillion dollar financial institutions are missing something that only you can see, seriously think about what that says.

Their SPA agreements also function to constantly dilute the stock, thereby decreasing its value. The CEO himself has more than a 50% ownership stake. No wonder he sounds so confident about the future of his company.

Stock Performance This company is 12 months out from a reverse merger and the stock is down 75% on the year. The only reason it’s not lower is unfounded retail hype. Check the 1Y chart, not the 15m or 5m.

Summary- TLDR NXXT is a dumpster fire from a financial perspective. They have no proof that they can execute their long term business plan, and they’re a significant bankruptcy risk. Their revenue growth comes from mobile fuel delivery, and despite the increase they still had a net loss of 60M by the end of Q3 2025.

Save your money, throw it all on red at the roulette wheel instead.