Xeriant Inc (XERI)

[dabullishbear]

For anyone confused about that table from the discussion draft in the 8K, here is a link talking about members interests in an LLC:

http://info.legalzoom.com/limited-liability-company-shares-3661.html

Looks like Spectrum King LED had divided up its members interests into privately held shares totalling 4.1 billion. Obviously they could have moved all of their members interests into BANJ as issued shares for the merger, but that would require them to have to raise the AS to at least 4.2 billion to accommodate that. It would also kill the value of the company and discourage new incestors. So instead they are reducing the 4.1 billion members interest via a 25:1 split to bring down their total combined members interests to 166 million, which will likely turn into issued shares of BANJ after the merger. I'm guessing all the members will have preferred shares as that's what most public companies do for their board members and big accredited investors.

Once again issuing 166 million shares would not be possible without raising the AS. So they chose to raise it to 500 mil and also give themselves a little bit of wiggle room.