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XERI & Auctus have renegotiated 2 DEFAULTS already. The first DEFAULT happened July 27th and was renegotiated OUT OF DEFAULT on Aug 1st 2022 4 days after the 8 month deadline for the uplist / merger. The third DEFAULT happened actually on Jan 15th when the S-1 failed to be filed by Jan 15th but now is in clear DEFAULT after Mar 15th 2023 since there has been NO UPDATED 8-K showing ongoing negotiation is in progress as before even after 5 weeks of being in 3rd DEFAULT. Auctus might want their pound of flesh ($10 mil+) and be done with the $50,000 chump change to give another extension.
1. Effective August 1, 2022 (the “Effective Date”), Xeriant, Inc. (the “Company”) entered into an Amendment to Senior Secured Promissory Note (the “Amendment”) with Auctus Fund, LLC (“Auctus”) pursuant to which the parties agreed to amend the Company’s Senior Secured Convertible Promissory Note in the principal amount of $6,050,000 dated October 27, 2021
Effective December 27, 2022 (the “Effective Date”), Xeriant, Inc. (the “Company”) entered into a Second Amendment to Senior Secured Promissory Note (the “Second Amendment”) with Auctus Fund, LLC (“Auctus”) pursuant to which the parties agreed to amend the Company’s Senior Secured Convertible Promissory Note in the principal amount of $6,050,000 dated October 27, 2021 (the “Note”) issued to Auctus. The Amendment (i) extended the maturity date of the Note, the obligation to uplist to a national securities exchange and the acquisition of XTI Aircraft Company to March 15, 2023, and (ii) extended the date to file an S-1 registration statement to uplist the Company’s common stock to a national securities exchange to January 15, 2023. In consideration of the Amendment, the Company agreed to (i) grant to Auctus a new Warrant to purchase 25,000,000 shares of Common Stock dated December 27, 2022 (the “New Warrant”) at an exercise price of $0.09 per share; and (ii) make two pre-payment installments of $50,000 on January 15, 2023 and February 15, 2023.
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NO 8K YET AS PREVIOUS 8K EXTENDING THE DEADLINE=DEFAULT AS STATED IN TERMS OF LOAN FILLED WITH SEC....I HAVE SPOKEN
How about waiting to see what XERI and Auctus may have worked out, rather than immediately assuming the worst?
WRONG! Mutually agreed-upon conditions for avoiding default can often be negotiated between parties -- just as they had been previously.
Stock, it's obvious to me, SP is correct. Something else or agreement is in the works. This could all change in the future, if Auctus has a true falling out, they will dilute this to .0001..... I have not seen any evidence of a sell off, I hope there never is. If by some miracle XERI pays off AUCTUS, what will be the PPS be?
Spoke too soon, Ask was immediately dropped. Nice job MMs. If 140k shares were bought at .033, why would they lower the ask under that price? Clearly manipulated. This ticker is controlled by crooks.
10-Q was Feb. 16th, 2023. Default-is-stated-to-be March 15th, 2023, one month in the future should the Auctus Note conditions not be met.
It is 100% certain Note conditions were not met.
Therefore as this Feb. 16th, 2023 SEC-filed 10-Q states, Xeriant will and thus did default on the Auctus Note on March 15th, 2023.
10-Q
Less than 30 days until the next 10-Q. Will there be a 8-K before then, I doubt if it, only been 5 weeks with NO UPDATE on the AUCTUS TOXIC LOAN. Looking BAD for another extension. Time might be finally up for this POS
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Why would a filing that is for that last 3 months of 2022 have any bearing on a DEFAULT that occurred on March 15 2023. Just more STALL and DISTRACTION BS
DEFAULT IS FACT according to the available information as of last filing. That is not speculation as you claim but fact. Speculation is starting the sentence with "What if XERI" that may never happen where as the filing is clear in what has already occurred to caused this DEFAULT.
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One isn't needed since the reason for this DEFAULT is spelled out in the original SENIOR SECURED PROMISSORY NOTE.
Smart PPL should be able to understand the conditions for DEFAULT have been meet with NO NEED to give any further notice as stated in the filing
"THIS INSTRUMENT CONTAINS AN AFFIDAVIT OF CONFESSION OF JUDGMENT PROVISION WHICH CONSTITUTES A WAIVER OF IMPORTANT RIGHTS BORROWER MAY HAVE AND ALLOWS THE HOLDER TO OBTAIN A JUDGMENT AGAINST BORROWER WITHOUT ANY FURTHER NOTICE."
https://www.sec.gov/Archives/edgar/data/1481504/000147793221007820/xeri_ex41.h
“The worst lies are the lies we tell ourselves."
YOU HAVE BEEN WARNED OF DEFAULT (FACT)
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Go to XERI's latest SEC filing (10-Q) and scroll down to:
"Table of Contents PART II – OTHER INFORMATION"
Under Item 3, you'll see:
"Defaults Upon Senior Securities"
Followed by "None."
That's "NONE" as in "NO DEFAULTS!!!"
(NOTE: Previously in the filing, the Auctus loan was described as a "Senior Security")
Feel free to cite any more current information that contradicts the above!!!
Good Monday morning. XERI... $$$$$$$$.. LONG!!
There are no SEC filings that state that XERI is (or was ever) in default! In fact, just the opposite!
LOLOLOL.....SEC FILINGS ARE MEANINGLESS THEN??? FACTS ARE ALL THERE, NOT SPECULATION!!!
FACTS are indisputably true and not subject to interpretation. Without knowing the specifics of the understanding between XERI and Auctus, at best one can only make a semi-educated guess as to whether XERI is in default. THAT IS FAR FROM A FACTUALLY-BASED DETERMINATION!!!
SOO, IT'S THE NON SHORT SIGHTED THAT ARE SMART HOLDING REAL HEAVY BAGS OF A POS SCAM RUN BY LYING GRIFTERS THAT'S DOWN OVER 95% SINCE SMARTER PEOPLE TOLD EVERYONE ALL ABOUT THE SCAM....LOLOLOLOL
By the way. I got out of this SHIT SHOW in high teens....So, I'm not down over 90% had I NOT DUMPED THIS GARBAGE SCAM.
Unlike those "believers" I DON'T try catching FALLING KNIVES....
Not the worst strategy for some REAL tickers. But, REAL BAD for otc garbage SCAMS
DEFAULT IS FACT according to the available information as of last filing. That is not speculation as you claim but fact. Speculation is starting the sentence with "What if XERI" that may never happen where as the filing is clear in what has already occurred to caused this DEFAULT.
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DEFAULT IS FACT according to the available information as of last filing. That is not speculation as you claim but fact. Speculation is starting the sentence with "What if XERI" that may never happen where as the filing is clear in what has already occurred to caused this DEFAULT.
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Only for those short-sighted non-believers who lost their patience and sold at a loss.
GOT THAT WRONG!!! NO 8K STATING NEW DEADLINE=DEFAULT!!!
LOLOLOLOL...."WHAT IF"]
More like the Trail of Tears
we're either walking on the yellow brick road or the green mile.
No 8-K, No Default. XERI... $$$$$$$$.. LONG!!
Then we can ONLY go on what we do know and don't SPECULATE on What, Might, If, Possible, or Could happen. That is as of March 15 XERI is in DEFAULT to Auctus with NO word of any ongoing negotiations after 5 weeks.
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What if XERI and Auctus previously agreed to extending the deadline based on confidential developments the public is unaware of? We don't know what we don't know -- and, as a result, assuming the worst isn't always the best course of action.
LOLOLOLOL...SOMEONE HASN'T BEEN PAYING ATTENTION. IF YOU REALLY BELIEVE THAT, THEN I HAVE SOME VERY SPECIAL ELIXIR FOR SALE THAT WORKS ON EVERYTHING AND CURES EVERYTHING...
No Defaults! XERI... $$$$$$$$.. LONG!!
WE DO IN FACT KNOW THERE IS NO 8K EXTENDING THE DEADLINE AS THE PREVIOUS ONES....FACT!!!!!!
NOPE!!! The SEC "filing" you think is NONE specific and speaks ONLY about 2022. That WAS when "they"(LYING GRIFTERS) EXTENDED the "DEADLINES". NO 8K FUTHER "EXTENDING" THIS MOST RECENT DEADLINE AND 3RD STRIKE MEANS "THEY" (LYING GRIFTERS) ARE MOST DEFINITELY IN DEFAULT!!!!!!!!!!!
Your right about the denial, I said smart PPL. Your wrong about the DEFAULT. Show a filing after the March 15th DEFAULT that says they still are in negotiations.
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What and where in that filing proves what you are saying.
I have showed proof of what I say. FACT
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NO QUESTION ABOUT IT? Really? There's an SEC filing that says just the opposite!
I'm not the one in denial. I'm the one with an SEC filing on my side!
Once again: we don't know what understanding / agreement XERI has with Auctus that would have allowed them to state in an SEC filing that they have NO DEFAULTS on Senior Securities as of March 15th -- and neither do we have any reason to believe that anything has changed in the past month!
Even after spelling it out for the smart PPL in denial, I'm sure we'll still hear there was NO DEFAULT!!
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Definition is quite clear: https://www.dictionary.com/browse/default
noun
failure to act; inaction or neglect:
They lost their best client by sheer default.
Finance. failure to meet financial obligations, as when a borrower misses or stops making monthly loan payments.
Law. failure to perform an act or obligation legally required, especially to appear in court or to plead at a time assigned.
Sports. failure to arrive in time for, participate in, or complete a scheduled game, race, etc.
lack; want; absence.
Computers. a value that a program or operating system assumes, or a course of action that a program or operating system will take, when the user or programmer specifies no overriding value or action.
verb (used without object)
to fail in fulfilling or satisfying an engagement, claim, or obligation.
to fail to meet financial obligations or to account properly for money in one's care:
When he defaulted in his payments, the bank foreclosed on the car.
Law. to fail to appear in court.
Sports.
to fail to participate in or complete a scheduled game, race, etc.
to lose a scheduled game, race, etc., by default.
Computers. (of a program or operating system) to assume a preset value or take a preselected action unless otherwise instructed by the user or programmer:
Your profile defaults to public unless you set the permissions to private.
verb (used with object)
to fail to perform or pay:
to default a debt.
to declare to be in default, especially legally:
The judge defaulted the defendant.
Law. to lose by failure to appear in court.
Sports.
to fail to compete in (a scheduled game, race, etc.).
to lose by default.
But that doesn't fit the narrative that Duffy & Crew is trying to spin here.
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WHAT DON'T YOU UNDERSTAND ABOUT WHAT DEFAULT MEANS...
REAL SIMPLE. IT GOES LIKE THIS.
DID THEY MAKE ANY PAYMENTS BY EXPIRATION DATE? ANSWER IS NO!!!
DID THEY MEET REQUIREMENTS OF LOAN AND ACQUIRE XTI?
ANSWER IS NO!!!
DID THEY MEET REQUIREMENTS OF LOAN AND UPLIST TO NASDAQ?
ANSWER IS NO!!!
HENCE, THEY ARE IN FACT IN DEFAULT!!! NO QUESTION ABOUT IT...
Wrong since the reason for this DEFAULT is spelled out in the original SENIOR SECURED PROMISSORY NOTE.
Smart PPL should be able to understand the conditions for DEFAULT have been meet with NO NEED to give any further notice as stated in the filing
"THIS INSTRUMENT CONTAINS AN AFFIDAVIT OF CONFESSION OF JUDGMENT PROVISION WHICH CONSTITUTES A WAIVER OF IMPORTANT RIGHTS BORROWER MAY HAVE AND ALLOWS THE HOLDER TO OBTAIN A JUDGMENT AGAINST BORROWER WITHOUT ANY FURTHER NOTICE."
https://www.sec.gov/Archives/edgar/data/1481504/000147793221007820/xeri_ex41.h
“The worst lies are the lies we tell ourselves."
YOU HAVE BEEN WARNED OF DEFAULT (FACT)
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That is just another factually unsupported assumption. If there was a default, more likely than not, it would have had to been reported as a material event. Rather than being proof of a default, the absence of an 8-K would indicate that no default has taken place since Marc h 15th!
WRONG In full DEFAULT since MARCH !5TH.
YOU HAVE BEEN CORRECTED & WARNED
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Defaults: NONE. XERI... $$$$$$$$.. LONG!!
WHERE ARE THE PR’s. I thought certain people on this site had the ear of the GRAND POOBAH . Why not a single positive word or update. Me thinks the chickens are coming home to roost
That might be in reference to anytime prior to that filling. The S-1 that states that was filed before the March 15th date. Since there has been NO 8-K to update the Mar 15th date that would mean XERI is FULL DEFAULT as of right NOW.
YOU HAVE BEEN WARNED
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LOLOLOLOL....THERE ARE NO DEALS, IN THIS COUNTRY OR ANY OTHER.
THEY'RE BROKE AND IN DEFAULT OF $10M...
STICK A FORK IN THIS POS SCAM!!!
LYING GRIFTERS ABOUT TO FEEL THE HEAT....
What about the SEC filing that specifically stated there NO defaults of senior securities?
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