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This is a bump in the road for Auctus. I don't think much will change. Xeri is still under their thunb. Do you know how long it'll take for anything to be settled in this case against Auctus.....probably years. Until then biz as usual for them.
This is a huge win but will they capitalize on this opportunity. Where are all the buyers now that Auctus is not relevant.
I'm coming to that realization, the relevancy is where does Xeri start and end with this development. Duffy needs to get off his ass and be proactive and I don't want double talk about lawyers.
Sometimes best to cut your loses before losing EVERYTHING...
Is it just me or do others believe this SEC AUCTUS event warrants a press release from XERI. I don't want another missed opportunity to fade into the sunset.
Maxim is the one that introduced Auctus to DEFUDIS, not happy about that!
There are other forces at play here
Lol, sure we will.
The toxic lender and the death spiral financing is ended! We go up from here, the sky's the limit.
GOD WORKS IN MYSTERIOUS WAYS$$$$
I'm assuming anymore sells will not be AUCTUS!
Does this mean we/Exeriant is dept forgiveness and all the warrants are not going to be exercised at any price.
BEST NEWS IN 2 YEARS$$$$$
Auctus Fund Management, LLC, Louis Posner, and Alfred Sollami, No. 1:23-cv-11233-AK (D. Mass. filed June 1, 2023)
Litigation Release No. 25741 / June 1, 2023
SEC Charges Massachusetts-Based Firm and Its Co-Owners with Acting as Unregistered Securities Dealers
The Securities and Exchange Commission (the "SEC") today announced charges against Auctus Fund Management, LLC ("Auctus Management") and its co-owners Alfred Sollami of Brookline, Massachusetts and Louis Posner of Mansfield, Massachusetts, for failing to register as securities dealers with the SEC. Auctus Management, Sollami, and Posner allegedly bought and sold billions of newly-issued shares of microcap securities through their fund Auctus Fund, LLC ("Auctus Fund"), generating millions of dollars in profit, without registering as dealers or associating with a registered dealer, as required by the federal securities laws.
The SEC's complaint, filed in federal district court in Boston, Massachusetts, alleges that from 2013 through 2021, Auctus Management, Sollami, and Posner engaged in the business of purchasing convertible notes and associated warrants from microcap issuers, converting the notes into shares of stock at a large discount from the market price, and selling those newly issued shares into the market at a significant profit. Auctus Management, Sollami, and Posner allegedly purchased through Auctus Fund notes from more than 150 separate issuers and sold more than 60 billion shares of newly issued stock into the market, generating profits of over $100 million. As alleged, Auctus Management, Sollami, and Posner failed to register as securities dealers with the SEC or associate themselves with a registered dealer, in violation of the mandatory registration provisions of the federal securities laws. By failing to register, Auctus Management, Sollami, and Posner avoided certain legal obligations for securities dealers that govern their conduct in the marketplace and protect the investing public, including regulatory inspections and oversight, financial responsibility requirements, and maintaining books and records.
The SEC's complaint charges Auctus Management, Sollami, and Posner with violating Sections 15(a)(1) and 20(b) of the Securities Exchange Act of 1934. The SEC seeks permanent injunctions, disgorgement of ill-gotten gains plus prejudgment interest, civil penalties, and penny stock bars, and other equitable relief. The complaint also names as a relief defendant Auctus Fund, and seeks disgorgement from Auctus Fund of ill-gotten gains from Auctus Management, Sollami, and Posner's violations.
The SEC's case is being handled by Michael Franck, David Scheffler, Rua Kelly, Michael Moran, Mark Albers, and Amy Gwiazda of the Boston
SEC files charges against Auctus! https://www.sec.gov/litigation/litreleases/2023/lr25741.htm
TOO BAD "God" DIDN'T WARN YOU ABOUT HOW LYING GRIFTERS SCAM NAIVE RETAIL...
they'll NEVER do ANYTHING as they're BROKE
OMG! -- It's an international conspiracy!
What part of "for the Love of money is the root of all evil". Maybe ask him just to make you a better person.
Awhile back, I asked God to help me, and give me a sign, whether to purchase XERI shares, or not. He answered in my thoughts, the price is low, and affordable. What am I waiting for. XERI... $$$$$$$$.. LONG!!
It was meant to be facetious.
That understanding is off-base, self-deceptive, delusional, incorrect, false, misleading, and just plain silly. From Xeriant Duffy pays himself salary, expenses, contractor fees, stock options, originally owned stock up 10X, riding and based upon Duffy's insider dealing false and misleading stories.
Bluechip bullshit might be a good investment, in particular for inside buddies like 1988 skanks. Maybe add bluechip bullshit to the DOW.
Are you serious????? Was it not pointed out that Duffy gets a salory from XERI and ALSO get paid through his consulting firm to be an advisor yearly??? Hell he even gave himself raises over the years. FOR WHAT??????? LOL
TIC TOC
WRONG!!! Frist off I have been playing in the OTC swamp for more than 25 years. I can tell you if it walks like a duck and quacks like a duct IT IS A DUCK. I have stayed here for over 2 years after I started having questions that were answered with BS.
I'm glad you have communicated with GOD about what he wants me to do here because I have prayed a lot over this. Maybe someday he will want me to listen to you instead of following MY feeling that Duffy and Crew are out to SCAM PPL. Some will do whatever it takes to gain wealth. You seem to have a inner voice telling you to continue on your committed path.
1 Timothy 6:10- For the love of money is the root of all EVIL
I have said before I'm not here for those longs, they made their choice. I'm warning new investors what a SCAM XERI is that's all.
TIC TOC
Q probably thanks God he DUMPED this POS SCAM when he did. Instead of HOLD GARBAGE like some "smart" person that thought is wasn't JUST A POS SCAM DOES...LOLOLOLOL
Yet, instead of being thankful for the life-changing riches you've received from XERI, you've decided that they are unquestionably corrupt. God sure works in mysterious ways.
Anytime you make the kind of profits I did it's more like a blessing from God than luck. It changed my family's life.
Then prepared to be surprised! And I recall that your investment in XERI was a lucky accident, since BANJ was saved from bankruptcy by Duffy & Company's reverse merger.
Air Force selects Colorado as permanent location for more Space Force missions. Maybe they can rent or buy XTI's BUILDING.
Stock. rest assured Duffy hasn't take a dime since all of us have lost our asses, he must be suffering like the rest of us. He probably had his phone turned off for lack of funds. We all suffer together, it's the pink shit way.
Congrats. Already down 15% as continued LONG UNDERWATER.
I understand about getting in early. That applies to most investments be it stocks, real-estate development, or new business to market. Remember I was a front loader here with close to 3 million shares with some purchased in the trips. I will be surprised if XERI last till the EOY let alone until XTI gets the TF600 off the ground
TIC TOC.
I saw the PPS this morning and figured it was a fake out, sure enough the stealthy persistent seller capitalizes. At least we know per the AUCTUS agreement it's not DEFUDIS.
ALL BAG HOLDERS AS IT'S AT 3 YEAR LOWS...
You won't be the only one. In fact, most people who bought (and still hold) $25,000 worth of shares in XERI over the past few years will probably see their investment be worth over $1 million within 2 years -- as long as XERI (with TMF's help) can produce NexBoards at industrial-scale. Everything else they do will just be icing on the cake!
I will become one of the Xerillionaires. XERI... $$$$$$$$.. LONG!!
That $500 shows much faith...ONLY, THIS POS SCAM WILL BE BACK UNDER .01 VERY SOON
I just purchased another 18,486 shares, at 0.0264. XERI... $$$$$$$$.. LONG!!
"years without an update"? Untrue! XTI has been providing updates on their website. https://www.xtiaircraft.com/cm/news
We start another month with 0 new info about the Nexboards or anything else......March 15th was the deadline agreed to in January. Lol, now it's June. Soon we will be talking about the end of the year and if we'll get an end of year update. Ground hog years now.
I'm sure those people who pre ordered would be curious to know something to. It's been years without an update.
That's actually typical for the way aerospace companies working on next gen technologies operate. If customers want to get the early production models before their competition, they have to place deposits with the manufacturer years in advance.
LOLOLOLOL...PIGS WILL FLY BEFORE THAT evtol. CEO AND CFO LEFT CAUSE THEY'RE FOR A VERY GOOD REASON. MUST HAVE FOUND OUT WHERE THAT $ THEY GOT FROM xeri REALLY WENT.
What a joke!! XTI has been taking orders for over 6 years on a plane that STILL hasn't even taken it's FIRST test flight and might have a plane flying in 5 more years. LOLOLOLOL
BTW They have a pic of Elvis promoting the plane to funny!!!!!!!
XTI’s TriFan 600 Finds More Buyers
The ambitious VTOL aircraft picked up additional pre-orders at this year’s NBAA-BACE, while also finding new interest in India.
October 24, 2017
https://www.flyingmag.com/xtis-trifan-600-finds-more-buyers/
TIC TOC
Simply because we haven't heard anything about XTI is no reason to assume the TriFan 600 has failed. It has $7 BILLION in "pre-sales"!!!!
XTI Pursues Pragmatic Path to Sustainability
August 22, 2022
XTI REBOOTS PLANS FOR TRIFAN VTOL AIRCRAFT FAMILY WITH OFF-THE SHELF PROPULSION
Recent changes in the leadership team at XTI Aircraft have prompted a fresh approach to efforts to produce the TriFan 600 aircraft. First, the Colorado-based company has opted out of the rush to be first to market in the hyperventilating advanced air mobility sector. Second, it has resolved to press ahead with turboshaft engines certified to use 100 percent sustainable aviation fuel (SAF) and defer the introduction of electric propulsion until later iterations of the aircraft.
Earlier this month, newly appointed CEO Michael Hinderberger reported that planned first deliveries for the TriFan 600 have been pushed back by up to three years to 2027. Nonetheless, he still feels the model may end up beating some eVTOL contenders into service, as the aviation veteran views those start-ups' 2024 projections as unattainable given the challenges associated with certifying new types of aircraft.
XTI’s primary objective appears to be to readdress the needs of the business aviation sector by getting closer to the holy grail of combining a helicopter’s operational flexibility with a fixed-wing aircraft’s range, payload, and speed, to deliver what it calls “the missing link” in air travel. Carrying four or five passengers, the TriFan 600 is looking to offer a range in VTOL mode of up to 600 nm (690 miles) and in CTOL operations, using a short runway, extending up to 750 nm (860 miles). Top speeds are expected to reach 300 knots (345 mph).
Keeping its eye on these prizes is what prompted XTI to defer plans for electric propulsion. “When you are looking at range beyond around 50 nautical miles [58 miles] the green technology doesn’t hold up,” Hinderberger told FutureFlight. “So for our longer ranger requirements, we’re taking a phased approach to achieving zero emissions, especially for the demanding phase of taking off vertically and transitioning to conventional flight. Going all-electric for the TriFan means carrying a lot of extra weight with a need for a lot of extra power, which means designing the aircraft for the first couple of minutes of flight.”
Hinderberger—who previously headed up XTI’s engineering department after a long career spanning supersonic aircraft pioneer Aerion and general aviation giants Piper, Hawker Beechcraft, and Gulfstream—has initiated a rethink on propulsion options.
The company had previously been considering GE’s new Catalyst engine but has concluded it will need more power and is confident of finding an off-the-shelf solution that will mitigate the technology risks around the program. In addition to GE, it says it has also been in contact with French aircraft engine maker Safran.
Though XTI has opted for off-the-shelf turboshafts, the process of integrating the engine is expected to take a couple of years and will require a new gearbox. The company believes it will take until 2029 to be ready to introduce an electric or hybrid-electric version of the TriFan. It has yet to determine whether this would be based on a hydrogen or battery-electric powertrain, but it has already been working with hydrogen fuel cell specialist HyPoint and has also engaged with hybrid-electric innovator VerdeGo Aero.
XTI’s hypothetical product roadmap also includes a larger TriFan 1200 model, and also all-electric TriFan 100 and 300 eVTOLs. But for now, its effort is entirely focused on getting the breakthrough 600 model to market.
“We’re not fighting to achieve major technological breakthroughs by introducing new engine technology at the same time. We’re taking a more conservative approach,” said Hinderberger. “Everyone else [in the AAM sector] seems to be rushing and in some cases that means forcing technology before that technology is ready.”
XTI completed the preliminary design review for the TriFan earlier this year and has introduced multiple new features. These include winglets and full span flaperons on the 45-foot wing; a high cruciform tail; seven-foot-diameter tilting wing fans and a five-foot-diameter aft fan; new fan shaft fairings and engine inlets; enlarged windshields and windows, plus a new downward-facing chin window; a split main entry door to the cabin; and a strake. A new landing gear design is in the works, too.
In the flight deck, XTI expects to deploy the proven Garmin 3000 avionics suite. It aims to have the aircraft certified for single-pilot, IFR [instrument flight rules for inclement weather] operations.
The company expects to be ready to complete a detailed design review in 2023 and also to submit a type certification plan to the FAA. It would then build the first of several production conforming prototypes in 2024 and be ready to start flight testing in 2025, en route to deliveries in 2027.
Hinderberger maintains that the TriFan 600 would make a compelling corporate workhorse, providing convenient door-to-door transportation that would make business travel far more effective. “Think of what we could do for an owner-operator needing to make trips between a couple of warehouses 500 miles apart in the Southeast [of the U.S.],” he said. “We want to combine the best of helicopters and business jets so that you can take off from backyards and directly reach off-site locations using existing infrastructure.”
For a 500-nm flight connecting a pair of downtown helipads in Los Angeles and Salt Lake City, XTI says, the TriFan would be 35 minutes quicker than a business jet and almost two and a half hours quicker than airline service. The new VTOL model is expected to have direct operating costs similar to those of a rotorcraft at $823 per flight hour, but with twice the speed flights are completed in half the time resulting in half the operating costs and emissions. The use of SAF would reduce emissions even further, according to the company.
With a standard club-four cabin configuration and the option to seat a fifth passenger alongside the pilot, XTI says, the TriFan will have room and payload capacity for 10 bags, which it noted is likely to be far more than eVTOL models could carry. In emergency medical applications, the aircraft could transport a patient on a stretcher and three attendants with twice the range and speed of current helicopters used for these missions.
According to chief commercial officer Saleem Zaheer, a former United Airlines captain and vice president of flight operations with Indian carrier IndiGo, XTI could also offer a commuter version of the TriFan with six passenger seats. He maintained that this could be viable for scheduled services, such as feeder routes from small communities to larger airports, with projected seat-mile costs that could be half of the $3 to $6 rates that he predicts for eVTOL aircraft.
The company says it has logged 315 "preorders" for the TriFan 600, which Zaheer explained includes a mix of firm purchase orders with non-refundable deposits, options, and reservations backed by refundable deposits. He told FutureFlight that the prospective customers include some current business jet and helicopter fleet operators, some private individuals, and a regional airline.
XTI acknowledges that it will need to raise more funds to bring the TriFan into commercial service and also that capital markets have tightened this year even as costs have escalated. This is another reason it is now taking what it calls a phased approach to develop the new aircraft family. Hinderberger said it is continuing its joint venture with the Xeriant group and hopes to have more tangible news on their planned merger in September.
https://www.xtiaircraft.com/cm/news/11-press/344-xti-pursues-pragmatic-path-to-sustainability
__________________________________________________________
XTI Aircraft Company CFO Elected to Board
February 14, 2023
Pomeroy role expanded as company accelerates development of TriFan 600
DENVER, CO, USA, February 14, 2023 -- XTI Aircraft Company (XTI) announced the election of the company’s Chief Financial Officer, Scott Pomeroy, to the Board of Directors, effective February 13, 2023. Pomeroy joins current Board members Charlie Johnson (XTI Board member since 2014) and David Brody (founder and Chairman of the company).
“Scott has developed and successfully implemented our financing plans from the time he took over as CFO in July of last year,” said Brody. “We’re accelerating development of our first full-scale piloted test aircraft this year. With Scott’s past broad experience as a Board member and CEO in other companies, this is the appropriate time for him to join our Board.”
The company stated that Pomeroy brings exceptional experience and knowledge to his roles as both CFO and as a Board member. He has served on several Boards, including the Board of Directors of AVX Aircraft Company since 2009. He has over 35 years’ experience in launching new businesses, raising capital, serving as founder and CEO, President, and CFO of several companies. He previously led equity and debt capital raises of more than $10 billion. Pomeroy began his career at KPMG Peat Marwick. He has a BBA in accounting and is a Certified Public Accountant.
“I’m looking forward to contributing from a Board level and continuing as CFO to accomplish our long-term objectives,” said Pomeroy. “To all of us at XTI, this means bringing our revolutionary airplane to the commercial market. Vertical takeoff combined with long-range, the speed and comfort of a business aircraft, and lower operating costs than competing helicopters or fixed-wing airplanes will give our customers significant time and cost savings.”
"Scott has developed and successfully implemented our financing plans from the time he took over as CFO in July of last year.”
— David Brody, XTI Founder & Chairman
XTI’s CEO, Michael Hinderberger, recounted the company’s progress over the past few years. “We conducted a series of successful hover tests of our two-thirds scale unmanned proof of concept TriFan in 2019 and 2020. We’re now working on our full-scale piloted TriFan and we plan to begin flight tests in 2025 or early 2026. As we ramp up this work, we’re expanding our collaboration with key suppliers and we’ve commenced the process to secure FAA certification. Importantly, we’ve received 691 orders, reservations, and options for the TriFan so far. This represents almost $7 billion in gross revenues upon delivery of those aircraft. The firm orders alone represent full production capacity for the first three years of XTI’s commercial operations.”
“This large number of orders and reservations validates the demand for the TriFan,” Brody added. “The market continues to recognize the value proposition and the unique competitive advantage of our revolutionary airplane and its patented technology.”
The TriFan is a major breakthrough in aviation and air travel. The six-seat TriFan 600 will have the speed, range, and comfort of a luxury business aircraft and the ability to take off and land vertically, like a helicopter. Using three ducted fans, the TriFan lifts off vertically. Its two forward fans then rotate to horizontal for a seamless transition to cruise speed and its initial climb. It will travel at 345 miles an hour as a highly efficient business aircraft, with a range of up to 700 miles with a vertical takeoff and vertical landing, and up to 850 miles with a conventional takeoff and a vertical landing.
About XTI Aircraft Company
XTI Aircraft Company is a privately owned aviation business based near Denver, Colorado. XTI is guided by a leadership team with decades of experience, a deep well of expertise, and success bringing new aircraft to market. XTI is founded on a culture of customer-focused problem solving to meet the evolving needs of modern travelers.
For information and updates about XTI Aircraft Company and the TriFan 600, visit www.xtiaircraft.com. For information on reserving a priority position for the TriFan under the Company’s pre-sales program, contact Mr. Saleem Zaheer.
Media Contact for XTI Aircraft Company:
Saleem Zaheer, Chief Commercial Officer
XTI Aircraft Co.
+1 720-900-6928
liftup@xtiaircraft.com
https://www.xtiaircraft.com/cm/news/9-press-release/346-xti-aircraft-company-cfo-elected-to-board
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Xeriant PRs no-longer-describe-itself as an aerospace company.
Don't forget... inclusive of that Xeriant $250M mega deal with Next New Concept, Inc., there's still $120M of additional Retacell products that Next New Concept, Inc. will (wants to) buy from Xeriant... uh... I mean... buy from Ebenberg, LLC. Ebenberg, LLC, the Xeriant/Movychem JV.
(it's a very 'smart' idea).
Maybe Duffy has simply failed on every of his long shot attempts.
Surprising his statements and claims, that counter and conflict his previous statements and claims, that are so self-evident as appearing as lies, even within his SEC filings.
.
I have no idea, wouldn't be surprised.
Meitze, I check XTI's home page daily, hoping to see and update. They're as silent as Duffy, did they close up shop?
Soon XERI will fad away also.
It better be Nexboard because everything else seems to have dried up. If not Nexboard what else is there? XTI? I don't feel like there's a future with XTI anymore simply due to the fact that there haven't been any updates in a very long time. Things tend to fade away with Xeri. I think XTI is fading away.
Like I've quoted before "a fool and his money are soon parted" although I wouldn't call 4 years soon the results will be the same.
TIC TOC
Correct! Why would I sell now when I'm confident XERI will have a major money maker in NexBoards?
plays out thru the day, not sure if it's a sucker play. Only Duffy can shed light on this.
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