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What Lame BS
Nexboard is a Trademarked XERI product, Movychem was to supply the patent rights not produce a product. Nowhere in any filing is there proof that XERI lived up to their monetary obligations. This means that XERI DEFAULTED and as stated in the agreement and has the right to dissolve the JV and keep their BS intellectual property on Retacell.
For its capital contribution to the Joint Venture, pursuant to a Patent and Exclusive License and Assignment Agreement (the “Patent Agreement”), Movychem is transferring to the Joint Venture all of its interest to the know-how and intellectual property relating to Retacell exclusive of all patents, and the Company is contributing the amount of $2,600,000 payable (a) $600,000 at the rate of $25,000 per month over a 24 month period and (b) $2,000,000 within five business days of a closing of a financing in which the Company receives net proceeds of at least $3,000,000 but in no event later than six months from the Effective Date. At such time as the Company makes its $2,000,000 payment (and assuming the Company is current with its then monthly capital contributions), pursuant to the Patent Agreement, Movychem will transfer all of its rights, title and interest to all of the patents related to Retacell for an amount equal to aggregate cash contributions of the Company to the Joint Venture plus 40% of all royalty payments received by the Joint Venture for the licensing of Retacell products. Pending assignment of the patents to the Joint Venture, pursuant to the Patent Agreement, Movychem has granted to the Joint Venture an exclusive worldwide license under the patents.
The Joint Venture Agreement grants to Movychem the right to dissolve the Joint Venture in the event that the Company fails to make any of its capital contributions in which case the Joint Venture will be required to grant back to Movychem all joint venture intellectual property and the assignment to Movychem of any outstanding licenses. Additionally, the Services Agreement will be amended to provide that the 40% of royalties to be paid by to the Company will be limited to licensees who were first introduced to the Joint Venture or Movychem, as the case may be.
https://www.sec.gov/ix?doc=/Archives/edgar/data/1481504/000147793222002000/xeri_8k.htm
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LOLOLOLOL....IT WAS xeriant's RESPONSIBILITY TO PRODUCE nexboard, NOT movychem. Rectacel IS JUST AN INGREDIENT TO THE CAKE. WHICH WAS BOUGHT BY xeriant.
SO, BLAMING movy FOR xeriant's FAILURE IS JUST FUTILE...
LET'S STICK WITH THE FACTS, JACK
Movychem was in a JV with XERI and apparently couldn't live up to their responsibilities when it came to producing NexBoards. So TMF was brought in. Why should XERI have continued to pay them when they weren't living up to their end of the partnership?
LOLOLOLOL....STILL BLAMING MOVYCHEM FOR xeriant's FAILURE TO PAY....
THAT'S REALLLL FUNNY....
WASN'T xeriant THAT SUPPOSEDLY BOUGHT THEM AND WAS SUPPOSED TO FINANCE ALL TESTING, ETC...???
WHAT A JOKE THIS POS SCAM HAS BECOME!!!
It certainly looks like the S1/A was referring to impending deals with TMF (re NexBoard production) and NNC (re that 35,000-home project in Africa). So they would seem to be the subjects of the next big announcements -- in addition to news about XERI's patent application for NexBoards.
Simply because Movychem didn't have the production expertise to produce NexBoards cost efficiently enough to meet the massive demand for NexBoards doesn't necessarily mean that Retacell won't be commercially viable in other areas. But if Movychem does nothing else but get XERI into the incredibly lucrative green construction materials business, they will have been served us (XERI's investors) well.
50k sitting at 26. Looks like roaches are RUNNING to get out this POS SCAM....
That would be a welcome sight.
Movychem and Retacell appear to be out now. That was a big waste of time. I guess a few eggs get broken when making a cake. Let's hope this cake gets put in the oven soon. I'm HUNGRY!
XERI is probably waiting to promote some real news (regarding NexBoards, TMF, NNC, XTI, etc.) rather than simply announcing that they've amended their S-1
LOLOLOLOL...SURE
HAS NOTHING TO DO WITH xeriant BEING BROKE, RIGHT....
I'm saying that it's obvious from the filings that Movychem (which created "Retacell") is no longer a major player in the NexBoard deal. And if anyone defaulted on the JV, it's them. Not XERI!
100k sitting at 27. Get to slapping...
Good Wednesday morning. XERI... $$$$$$$$.. LONG!!
Was there a PR for the S-1/A ? I haven't seen anything other than the posts here.
LOLOLOLOL...SO, NOW YOU'RE BLAMING RETACELL??? QUITE CLEAR IT'S ALLLLLL JUST A SCAMMMM. xeriant HAS NO $, NOR INTENTIONS TO PAY BECAUSE IT'S ALLLLL JUSTTTT A SCAMMMM.....
DEFAULT IS DEFAULT IS DEFAULT.....NO MORE CLAIMING OTHERWISE....
The Movychem JV, as far as NexBoards are concerned, doesn't seem relevant anymore. Just compare the text between the the original S1 and the S1/A. Movychem apparently couldn't live up to its end of the bargain with regards to producing NexBoards using Retacell. That's not to say that Retacell won't have other practical applications, but it appears TMF will now be fulfilling the NexBoard production role.
The SEC requires company's the amend S1's if they still intend to uplist. Look for additional amended filings as those deals are finalized.
Standard SEC language under the circumstances. They can't include details on AUCTUS, XTI, NNC, TMF, etc. until they are DEFINITIVE AGREEMENTS. Once that happens, watch how a lot of that language disappears or changes significantly.
"has not repaid" means in default.
"Is in active negotiations with Auctus to extend the maturity date," also means Xeriant is currently in default of the Auctus Note.
Fact.
Should Auctus agree to Xeriant's request to "extend" the terms of the unpaid Auctus Note, the debt that is currently in default,
then Xeriant will no longer be in default.
Making ASSumptions there is no Auctus Note default is based on a total lack of legal or any reasonable understanding.
Fact.
.
Let's Goooo!!! Good to see an update. Turn that LOI and MOU into a deal.
IT'S GAME OVER FOR THIS POS SCAM!!!
The joint venture with Movychem, s.r.o., required Xeriant to fund $2,000,000 by February 15, 2023. As of the date of this filing, the Company considers Movychem in default of its obligations related to the Movychem JV
We will need to meet the obligations required by the Auctus Fund, LLC Senior Secured Note and the Amendments to the Note.
The Company is in active negotiations with Auctus Fund, LLC, to extend the maturity date of the Senior Secured Promissory Note, which became due and payable on March 15, 2023. At this time, there is no assurance that Company will be successful in these efforts. One of the obligations of the Company is to uplist to a major exchange. If we do not perform under the Note, and Auctus elects to enforce the Note, we may lose all or substantially all of our assets. If Auctus elects to convert the note into shares of our Common Stock, our shareholders could experience substantial.
LYING GRIFTERS ABOUT TO FACE THE WRATH OF THE SEC...
The registrant hereby amends this registration statement on such date or dates as may be necessary to delay its effective date until the registrant shall file a further amendment which specifically states that this registration statement shall thereafter become effective in accordance with Section 8(a) of the Securities Act of 1933 or until the registration statement shall become effective on such date as the Securities and Exchange Commission, acting pursuant to said Section 8(a), may determine.
The information in this preliminary prospectus is not complete and may be changed. These securities may not be sold until the registration statement filed with the Securities and Exchange Commission is effective. This preliminary prospectus is not an offer to sell nor does it seek an offer to buy these securities in any jurisdiction where the offer or sale is not permitted.
We may require additional capital to satisfy our commitments in the Movychem joint venture.
The joint venture with Movychem, s.r.o., required Xeriant to fund $2,000,000 by February 15, 2023. As of the date of this filing, the Company considers Movychem in default of its obligations related to the Movychem JV. The Joint Venture Agreement with Movychem required us to fund $25,000 per month through April 2024, and invest $2,000,000 in the Movychem JV within five business days of the closing of a financing in which Xeriant receives net proceeds of at least $3,000,000, to acquire 50% ownership of the Movychem patents and intellectual property. Should Movychem satisfy its obligations related to the Movychem JV, we will renegotiate obligations related to the Movychem JV. At this time, there is no assurance that Company will be successful in these efforts
We will need to meet the obligations required by the Auctus Fund, LLC Senior Secured Note and the Amendments to the Note.
The Company is in active negotiations with Auctus Fund, LLC, to extend the maturity date of the Senior Secured Promissory Note, which became due and payable on March 15, 2023. At this time, there is no assurance that Company will be successful in these efforts. One of the obligations of the Company is to uplist to a major exchange. If we do not perform under the Note, and Auctus elects to enforce the Note, we may lose all or substantially all of our assets. If Auctus elects to convert the note into shares of our Common Stock, our shareholders could experience substantial.
Not obtaining sufficient financing will jeopardize our operations and the ability to execute our business plan.
Our recurring operating losses have raised substantial doubt regarding our ability to continue as a going concern.
AND COUP DE GRÂCE
You will incur immediate dilution as a result of this offering.
There are multiple references to the Auctus Loan in the S1A and "Default" is never mentioned once!
Seems MovyChem is NO longer in the picture. So it only took MovyChem 20 years to develop Retacell. Now Duffy and Crew are going to become chemist to develop their own flame retardent. LOL
Still incomplete S-1 nothing but BS
Might be hard to get investors to buy in on the next offer. Nowhere near as sweet as the F&F got with instant profit.
You will incur immediate dilution as a result of this offering.
If you purchase common stock in this offering, you will pay more for your shares than the net tangible book value of your shares. As a result, you will incur immediate dilution of $___ per share, representing the difference between the assumed public offering price of $__ per share and our estimated as adjusted net tangible book value as of December 31, 2022 of $___ per share. Accordingly, should we be liquidated at our book value, you would not receive the full amount of your investment.
Still don't know what the RS will look like but one is planed!!
Reverse Stock Split
We plan to effect a 1-for-___ reverse split of our outstanding shares of common stock prior to, or upon, effectiveness of the registration statement of which this prospectus forms a part. No fractional shares will be issued in connection with the reverse stock split and all such fractional interests will be rounded up to the nearest whole number of shares of common stock.
The intellectual property relating to our projected principal operations is not under our direct control.
We do not own intellectual property related to an eco-friendly flame retardant required for the production of NexBoard. To mitigate this risk, we are sourcing eco-friendly flame-retardant from several suppliers and formulating our own ecofriendly flame-retardant, which would allow us to eliminate our dependency on third-parties.
https://www.sec.gov/ix?doc=/Archives/edgar/data/1481504/000147793223003041/xeri_s1.htm
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NexBoards (Manufacturing & Demand -- Pages 53/54 of S1A Filing)
We have been in development of a fire-resistant thermoplastic and fiber composite material to produce a number of green construction products that can be produced at industrial scale in order to unlock existing demand indicated by several homebuilders and developers. Industrial production requires the panels to be cut in varying thicknesses and sizes, including standard 48” x 96” sheets.
We are planning to build out manufacturing facilities in the United States to meet the demand for NexBoard-related products, and may license the technology and manufacturing process to builders and developers. There is strong current demand for eco-friendly building materials with flame retardants that can be incorporated into plastics or used as coatings for wood or other materials. Flame retardant-infused products can impact as much as 40 percent of all building materials.]Eco-friendly flame retardants are needed because of the growing mandate worldwide to ban flame retardants that contain toxic chemicals in the form of organic compounds containing halogens such as bromine and chlorine, and phosphates such as phosphorus. We have identified potential specialized manufacturing equipment to produce the NexBoard product and has hired a managing director with decades of experience to oversee the advanced materials projects. We have received strong interest for NexBoard from a number of residential and commercial builders, including a Letter of Intent from a U.S.-based residential developer planning to construct at least 35,000 homes in West Africa, and a Memorandum of Understanding from a large U.S. residential developer.
Subject to available capital, we are planning to have the NexBoard product manufactured to meet initial demand starting in the third quarter of 2023, and expect to raise additional capital which may include expanding manufacturing capacity and strategically licensing the certified manufacturing processes used in the production of the NexBoard products.
The demand for green building products is being fueled by the environmental, social, and governance (ESG) movement for socially and environmental conscious corporate standards. In addition, the need for suitable housing worldwide is driving demand for quick-build affordable construction. The confluence of the shortage of affordable housing and the need for renewable materials is the driving force behind the demand for NexBoard. Gypsum board is the commonly used wallboard, but it is not made from sustainable materials, which creates an opportunity for NexBoard and derivative construction products, such as subflooring, roof decking, molding, trusses and studs.
AUCTUS LOAN NOT IN DEFAULT! "As of May 2, 2023, the Company has not repaid the Senior Secured Promissory Note, and is in active negotiations with Auctus Fund, LLC, to extend the maturity date." (Page 44)
The revised S-1 has updated info on NexBoards (patent and production)...
""On March 31, 2023, we filed a provisional patent application for a method of producing a unique fire-resistant thermoplastic and fiber composite material which may be formed or shaped into various construction products of different thicknesses and dimensions. This green material will be composed primarily of recycled plastic, cardboard and ecofriendly fire-retardant chemicals, including but not limited to use in walls, ceilings, flooring, framing, siding, roofing, molding, and decking, used in construction. Subject to available capital, we are planning to build manufacturing facilities in the United States for the production of NexBoard in order to meet market demand, or alternatively license the technology and process. We have identified potential sites for near-term contract manufacturing, a pilot plant, and larger manufacturing facilities, received bids for specialized manufacturing equipment, developed timetables related to the action plan, and hired a managing director with decades of experience to oversee the projects."
Another incorrect ASSumption based on subjective interpretation of inaccurate and/or incomplete information.
Some listen to the wrong BS and lost their chance at profits. Now just bag holder's that's ready to lose more believing Duffy & Crew
TROT3526
Tuesday, February 16, 2021 11:35:39 AM
Post# 3950 of 23615
Btw been in since 7c. My concerns have been market cap not moving also stock been stalled for a while in the 40 cents range. Like to hear your observations on this.
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Inaccurate assumptions based on a total lack of understanding. One way or another, XERI's stake in the JV will translate into equity in the TriFan's success. NexBoards will be a major winner for XERI -- probably as a result of TMF's test production.
LAME BS= No Revenue No XTI stock No Nexboard No Retacell Only 35% of SUPPOSED R&D money makes up the $18584797 2 year net lose. XERI has close to $20 million in lose since it's beginning and has produced NOTHING for XERI mean while Duffy and Crew get paid and bleed company expense account dry.
R&D= $5640693
Total research and development expenses were $5,267,581 and $373,112 for the fiscal years ended June 30, 2022 and 2021
Net Lose= $18584797
Total net loss was $15,882,195 for the year ended June 30, 2022 compared to $2,702,602 for the year ended June 30, 2021. The increase was primarily due to research and development expense and the cost of financings.
https://www.sec.gov/ix?doc=/Archives/edgar/data/1481504/000147793222007622/xeri_10k.htm
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Purposely misstating the original intent about XERI is a typical attempt at spreading misinformation.
No one-cares-about laughing last, just about LONGS DOWN 98%.
Let's see who gets the last laugh.
ZERO VOLUME AND 240K ASK @ 29...DOESN'T LOOK GOOD TODAY
The fact that you're not looking for inside info should make it easier for and email response, but I also understand a lot of the reasons not to respond! TMF is not a fly by night outfit, they're reputable. If this was not legit, they would have contacted XERIANT with legal action. A progress report would be great, maybe DUFFY can enlighten us?
LOLOLOLOL..."DESIGNED TO RESULT IN PROFITS" AND THIS POS SCAM DON'T BELONG IN SAME SENTENCE.
FYI: R&D expenses (although treated as "losses" for accounting purposes) are actually investments -- in XTI, NexBoards, etc. -- which are ultimately designed to result in profits.
Their PRs have said a lot of things and then months go by with no updates. And if the CEO said what he said he should be fine responding to my email. It's not hard to answer an email with a quick confirmation. But, NNC's ceo talked to me over the phone and nothing has been mentioned about NNC since the LOI PR in September of 22. Will this partnership fade away like NNC, XTI, Retacell, etc., etc. I'm just trying to find something to cling to at this point.
The most recent PR clearly stated that TMF is partnering with XERI on the production of NexBoards! They quoted TMF's CEO. It's right there in black and white!
Xeriant partners with TMF Corporation for NEXBOARD™ test production.
Established U.S. manufacturer of plastic industrial products to contribute material integration expertise
BOCA RATON, Fla., March 08, 2023 (GLOBE NEWSWIRE) -- Xeriant, Inc. (OTCQB: XERI) (“Xeriant” or “the Company”), a Company dedicated to the discovery, development and commercialization of advanced materials and aerospace technologies, announces a manufacturing partnership to facilitate the production of eco-friendly, flame retardant-infused recycled plastic used in NEXBOARD™ panels. NEXBOARD™ is a flame-, water-, mold- and insect-resistant building panel set to replace products such as drywall, plywood, OSB, MDF and MgO board for new and retrofit construction.
“As an experienced manufacturer of FM Approved plastic products, we are thrilled to be supporting Xeriant’s new product development. The feedstock required for the production of NEXBOARD™ fits right into our wheelhouse and we’re proud to be associated with a product that could have such far-reaching impact on the global environment,” stated Tom Fitzgerald, Sr., CEO of TMF Corporation.
The Xeriant team has been researching methods to streamline the production process and enhance the characteristics and quality of NEXBOARD™ using different eco-friendly flame-retardants. To help accomplish this mission, Xeriant has formed a partnership with TMF Corporation, a 35-year-old manufacturer of FM Approved plastic industrial products. TMF Corporation will agglomerate post-industrial plastic waste and densify it along with four different eco-friendly flame-retardants to produce pellets used in the manufacturing of NEXBOARD™ panels for testing purposes.
“TMF Corporation is one of our valued strategic investors and we’re excited to finally collaborate to unlock their capabilities as we set out to begin the manufacturing of NEXBOARD™,” said Keith Duffy, CEO of Xeriant.
About TMF Corporation
Since 1988, TMF Corporation has been manufacturing and distributing high quality plastic containers and pallets for commercial and government clients. TMF prides itself on providing quality products and responsive support to its customers which have included major manufacturers in the auto, food, and pharmaceutical industries, as well as all levels of government. In 2004, TMF was one of the first manufacturers to have a FM Approved nontoxic fire-retardant product. In 2016, TMF started utilizing a nonhalogenated compound and received FM 4996 approval for its plastic fire-retardant pallets, delivering fire protection as good or better than its wood counterpart. Now, some of the largest pharmaceutical companies, including Pfizer, GlaxoSmithKline and AstraZeneca, depend on TMF Corporation to meet their compliance requirements.
For more information, please go to www.tmfcorporation.com
REAL BROKE & NO REVENUE!!!!!
Net loss
Total net loss was $15,882,195 for the year ended June 30, 2022 compared to $2,702,602 for the year ended June 30, 2021. The increase was primarily due to research and development expense and the cost of financings.
https://www.sec.gov/ix?doc=/Archives/edgar/data/1481504/000147793222007622/xeri_10k.htm
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TOO BAD xeri IS BROKE....
KINDA HARD TO PRODUCE ANYTHING WITH NO $, AND BAD CREDIT....
That's all i'm asking for. Just confirmation that they are working with Xeri and anything else they can provide is icing.
Typical attempt at spreading misinformation about XERI by purposely misstating the original intent.
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