Entry into a Material Definitive

On June 2, 2016, Monaker Group, Inc. (the Company)borrowed three hundred thousand dollars ($300,000) from the Donald P. Monaco Insurance Trust (Trust), which was evidenced by a Promissory Note (Note) in the principal amount of three hundred thousand dollars ($300,000), which accrues interest at the rate of 6% per annum (12% upon the occurrence of an event of default). All principal, interest and other sums due under the Note is due and payable on the earlier of (a) the date the operations of NextTrip.com generate net revenues equal to $300,000; (b) the date the Company enters into an alternate financing in excess of $300,000; or (c) August 1, 2016. The Note contains standard and customary events of default.

Donald P. Monaco, a member of our Board of Directors , is the trustee of the Trust.

This Note may be prepaid in whole or in part at any time, without penalty or premium.

The Company intends to use the proceeds of the above-described Note for working capital and general corporate purposes.

The description of the Note above is qualified in its entirety by the Note, a copy of which is filed herewith as

Exhibit 10.1

, and incorporated in this Item 1.01 by reference.

Item 2.03

Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The description of the Note above in Item 1.01 is incorporated by reference in this Item 2.03.

Item 9.01.

Financial Statements and Exhibits.

(d)

Exhibits

Exhibit No.

Description

10.1*

Promissory Note ($300,000) dated June 2, 2016 by Monaker Group, Inc. as borrower in the favor of the Donald P. Monaco Insurance Trust

* Filed herewith.

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.

.

MONAKER GROUP, INC.

Date: June 6, 2016

By:

/s/ William Kerby

Name:

William Kerby

Title:

Chief Executive Officer

EXHIBIT INDEX

Exhibit No.

Description

10.1*

Promissory Note ($300,000) dated June 2, 2016 by Monaker Group, Inc. as borrower in the favor of the Donald P. Monaco Insurance Trust

* Filed herewith.

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