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Exactly! Good job. Now, what's-a-little IP theft got-to-do-with anything?
Now that's a good argument. Well rounded, a full consideration.
Not the points I've made, but a persuasive argument.
Unlike in the past. Well done.
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I'm NOT hoping for that at all. I don't have to because this SCAM was NEVER meant to be a successful company to start with. I've said before that the real money was in the offering Duffy was working on when the market was HOT. These investors would have found themselves in the same position F&F are in NOW. Only difference is it would happened sooner and there be a whole lot more PPL underwater.
Now less than 10 days til the DEFAULT that happened on March 15th will be confirmed in the next 10-Q. IF no 8-K with an extension is filed before then XERI will tank as normal retail sell. Until most of F&F realize they have been SCAMMED this will have a some life since they hold a majority of free shares. OH that is UNTIL AUCTUS cashes out their shares for $10 mil DEFAULT payment.
BTW $10 mil/.02 = 500 million shares so F&F won't be able to get out quick enough. FACT
TIME IS SHORT
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FYI...THIS POS SCAM IS AND HAS BEEN A FAILURE FOR A LONG TIME NOW.
Let's see if I'm understanding this correctly. These jokers after hyping how great the Movychem deal and special fire chemicals were are how trying to make these SCAMBOARDS themselves without the special fire chems after blaming Movy for not being able to make them???
What sense does that make and what idiots ACTUALLY believe that BULLSHIT...
TOTAL POS SCAM RUN BY LYING GRIFTERS
To those who are lhoping for XERI to fail...don't get your hopes up.
To those who are hoping for good news...don't give up hope.
That won't be a problem since the reason for the DEFAULT was spelled out in the original agreement AND Duffy already agreed not to contest. So a Stipulated Judgement will be forth coming to confirm the DEFAULT.
What is the difference between a judgment and a stipulated judgment?
A stipulated judgment has similar effects as a regular judgment, but the main difference is the debtor agrees to gives up essential rights: The debt collector isn't required to prove you're responsible for the alleged debt. You give up any defenses you can use against the creditor, such as the statute of limitations.Dec 30, 2022
https://www.solosuit.com/posts/before-signing-stipulated-judgment#:~:text=A%20stipulated%20judgment%20has%20similar,as%20the%20statute%20of%20limitations
4.6 Governing Law; Venue; Attorney’s Fees. This Note shall be governed by and construed in accordance with the laws of the State of Nevada without regard to principles of conflicts of laws. Any action brought by either party against the other concerning the transactions contemplated by this Note or any other agreement, certificate, instrument or document contemplated hereby shall be brought only in the state courts located in the Commonwealth of Massachusetts or federal courts located in the Commonwealth of Massachusetts. The Borrower hereby irrevocably waives any objection to jurisdiction and venue of any action instituted hereunder and shall not assert any defense based on lack of jurisdiction or venue or based upon forum non conveniens. THE BORROWER HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION WITH OR ARISING OUT OF THIS NOTE OR ANY TRANSACTIONS CONTEMPLATED HEREBY.
https://www.sec.gov/Archives/edgar/data/1481504/000147793221007820/xeri_ex41.htm
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NOT THIS BROKE POS SCAM RUN BY LYING GRIFTERS WITH F- CREDIT RATING....
Again, I believe they will come as a package. XERI... $$$$$$$$.. LONG!!
So what does XERI get IF the XTI JV is NEVER terminated. XTI is a 11 year old company that has tried to gain financing to become a public company before. XERI won't last another year. I'm sure they KNEW the dangers of dealing with TOXIC LENDERS like AUCTUS. I don't believe XTI would ever endanger their reputation and their stock in such a way. The redacted Exhibit D is the missing part of this puzzle. Why do you think Duffy hasn't went after an asset like that already?? Would this not give XERI some credibility?? I don't think XERI or Auctus who own's XERI now ever sees any XTI stock.
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KEEP IN MIND: THERE IS NO DEFAULT WITHOUT A JUDGEMENT OF DEFAULT.
Good point. Except that quarterly reports tend to be backward-looking -- except for occasional updates to on-going matters. The more interesting info will likely come from the PR(s) and amendments to the S-1.
Public companies have all sorts of ways to raise capital when they can point to impending mega-projects designed to generate significant near-term revenue.
The March 15th DEFAULT to Auctus will clearly be spelled out IF an 8-K doesn't come out first showing a NEGOTIATED time extension. Some LAME BS in the 10-Q trying to explain won't count. NOT what a 10-Q or S-1 is for... Please start another countdown for the next 10-Q and to the confirmed demise of XERI!!!!!!
KEEP GUESSING INSTEAD OF UNDERSTANDING THE FILINGS
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XERI's Quarterly report is due out soon. My guess, it will come in conjunction with another S1/Amendment, and a Press Release. XERI... $$$$$$$$.. LONG!!
"Subject to available capital." They are in debt, what available capital do they think they're going to have? Are they selling off shares to obtain this capital? Are they getting more loans?
Should XTI and Xeriant determine it is in their best interest to terminate the XTI JV, then it will be dissolved. Should the XTI JV be dissolved, as of December 31, 2022, Xeriant would receive 5.5% equity ownership of XTI."
If the conspiracy theorists are to be believed, XERI is in cahoots with NNC, TMF, XTI, Maxim and God-knows-who-else, in some complicated, convoluted scheme to defraud investors.
The far more logical explanation is that XERI is doing EXACTLY what it claims to be doing in its recent S-1/A -- and has simply taken longer than expected to achieve its near-term goals as expressed in the introductory summation to its filing:
"A primary focus of our Company is the acquisition and commercial exploitation of eco-friendly, advanced materials and chemicals which have applications across a broad range of industries and the potential to generate significant near-term revenue." As described in that filing, they are currently developing an industrial-scale production method for NexBoard via a partnership with TMF Corporation that will enable them to "unlock existing demand indicated by several homebuilders and developers."
To that end, on March 31, 2023, Xeriant 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."
As per the summary to the S-1/A, another area of interest for Xeriant is "the emerging aviation market called Advanced Air Mobility (AAM), the transition to more efficient, eco-friendly, automated and convenient flight operations enabled by the convergence of technological advancements in design and engineering, composite materials, propulsion systems, battery energy density and manufacturing processes... We plan to partner with and acquire strategic interests in visionary companies that accelerate our mission of commercializing critical breakthrough AAM technologies which enhance performance, increase safety, and enable and support more efficient, autonomous, and sustainable flight operations, including electric and hybrid-electric passenger and cargo transport aircraft capable of vertical takeoff and landing. Our plan to source and acquire strategic interests in leading aerospace companies developing breakthrough VTOL aircraft began in the second quarter of 2021.
Effective May 27, 2021, we entered into a Joint Venture Agreement with XTI Aircraft Company (“XTI”), a privately owned OEM based in Englewood, Colorado for the purpose of completing the preliminary design of XTI’s TriFan 600, a 5-passenger plus pilot, hybrid electric vertical takeoff and landing (eVTOL) fixed-wing aircraft."
Through its joint venture with XTI, XERIANT was "involved in the successful completion of the preliminary design of their TriFan 600 eVTOL aircraft. The TriFan 600 is being designed to become the fastest, longest-range VTOL aircraft in the world and the first commercial fixed-wing VTOL airplane, with current pre-orders of approximately $7 billion in gross revenue upon delivery of those aircraft."
"While the purpose of the XTI JV has been achieved, XTI and Xeriant continue to see value in the XTI JV for future collaboration in Advanced Ari Mobility. Should XTI and Xeriant determine it is in their best interest to terminate the XTI JV, then it will be dissolved. Should the XTI JV be dissolved, as of December 31, 2022, Xeriant would receive 5.5% equity ownership of XTI."
That's funny.
Read the past financials. Duffy is lying his way into an indictment.
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You may be right about the 10-Q and the 8-K...but not about the SP. If TMF Corp. can, in fact, apply its proven production expertise in combining plastic with fire-retardants, then NexBoard could well be on its way to a huge commercial success -- with NNC and a host of large home builders and developers signing 9-figure sales contracts with XERI.
LAME BS
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Retacell is an ingredient that helps protect OTHER THINGS against fire! It was never intended to be used alone -- and is basically useless commercially unless it can be cost-effectively integrated WITH OTHER INGREDIENTS TO CREATE FIRE-RESISTANT PRODUCTS like NexBoards! That's why it was essential that Movychem -- the supposed experts in working with Retacell -- was contractually bound to supply its expertise to develop an industrially-scalable production process for NexBoards!!! Having failed to do so, it essentially voided its JV agreement!
I don't think Auctus is going to let this go on much longer. Duffy can't get the SP to move anymore. That $10 mil is calling their name.
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They'll just say they're in negotiations, same as S-1/A.
We will know when the next 10-Q comes out. If NO 8-K with another extension comes out before then we are less than 2 weeks away from finding out just how many DEFAULTS XERI HAS. Expect the SP to reflect that as that date nears. When that happens how fast will F&F along with anybody with any common sense jump ship. Not looking good for XERI, countdown is on.
YOU HAVE BEEN WARNED
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Are you still saying that MovyChem had an obligation to make Nexboard or any product other than Retacell???? Not sure if they even had to supply that since they were giving up the patent rights for production.
Oh, that makes sense...NOT! The SEC would not look kindly upon a company seeking to uplist that shifted responsibility for failing to perform key critical activities onto another party. Let's see who's right. We should know soon enough.
No actual S-1/A explanation is provided to Xeriant's S-1/A claim of Movychem's default of their JV.
It is only a claim. Without any explanation.
A new claim of "development... unsuccessfully", during a time frame that directly contradicts the happenings of "success" during the exact same time frames as stated by Xeriant in Xeriant's previous 10-K, 10-Q, and S-1 financial filings, as well as Xeriant's multiple press releases (PRs) and its pre-recorded 'Conference Call', that all previously stated Xeriant's and the JV's "successful development" of a multi-purpose, high-strength fire- and water-resistant composite panel made from a formulation of Retacell®.
....
Try reading the issue this way.
.
Correction BANJ had less than 70 million issued before Duffy added over 300 million more shares to the OS that I believe went mostly to the F&F group.
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Duffy has NOT delivered on anything after 3+ years. Because it can be interpreted like you are trying to do. I said it's NOT a lie just something MC wasn't obligated to do. Remember how you were sure that the Definite Merger Agreement meant that the merger was sure to happen. How did that workout for the investor. These are professional SCAMMERS that know how to word things just right to be open ended and still be covered by Safe Harbor.
Duffy can't drag this out much longer. Really surprised it has lasted this long. The reason for such a dramatic increase in price 2 years ago is there was less than 70,000 shares of BANJ in the beginning. Duffy unloaded most of the OS increase to F&F longs which are now stuck because they are the majority of retail investors. We have seen how easily the SP is affected by dilution.
THE FACT IS XERI IS A SCAM
YOU WERE WARNED
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I seriously doubt we're aware of every aspect of their JV relationship. Otherwise, why would XERI bring up the issues they had with Movychem in the S1/A?
LOLOLOLOL....LONGGGGG!!!!!!
The S-1 is not a binding agreement between XERI and XTI, MovyChem, NNC, TMF or any other company. NO matter how much you want to read between the lines MovyChem agreed to only a PATENT AGREEMENT. NOTHING ELSE.
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The assumption that XERI would pay so much money and give away so much of the potential revenue from the sale of Retacell-enhanced products WITHOUT REQUIRING ANY ADDITIONAL INPUT OR CONTRIBUTIONS IN PRODUCT DEVELOPMENT from Movychem, beyond the transfer of the basic Retacell IP, is totally absurd and ill-informed!
In fact, had Movychem wished to wash its hands of any additional responsibilities towards the practical application and commercialization of Retacell, such a disclaimer would have been clearly included in their JV Agreement. In addition, it never would have attempted (and subsequently failed) to provide those services, as so indicated in the S1/A.
Movychem may have spent 20 years developing Retacell, but when it came to helping XERIANT produce a commercially viable product around it, they stopped too far from the finish line. XERI would have been crazy to pay them that $2 million under the circumstances!
No Default! XERI... $$$$$$$$.. LONG!!
WRONG! The S1/A is the most recent filing -- and it never mentions XERI being in "default" to any entity. Nor did the original S1. Nor did any other SEC filing by XERI. Furthermore, the SEC obviously had a chance to review the original S1, so any comments, questions or concerns they may have had previously would have almost surely been addressed in this amended version. And XERI would be asking for trouble if it was in any way untruthful or deceptive in any of its SEC filings. So who should investors believe: An official SEC filing or a post on IHub?
MORE LAME BS. I'm not blaming anything. IT's in the filings. There were 8-K's released that showed time extension on XTI, MC, and Auctus. Now almost 2 months without any word of another extension. It does take some time for the lawyers to get their cases together. Auctus will be the first to collect since they deal with these types of SCAM companies all the time as a KNOWN TOXIC LENDER. The only group that doesn't profit are the investors that believe in this SCAM POS. Auctus will dump 100's millions of shares to recoup their money without one thought of the retail investor.
TIME IS SHORT
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The conspiracy theories continue! If that constitutes the entire understanding between the parties, then why haven't we heard about a major lawsuit on Movychem's behalf? The JV is based in the US, so don't try to blame it on international laws. The answer is simple: Movychem knows they failed to deliver and they don't have a leg to stand on.
Read the filings a 6th grader could understand. The JV agreement was for XERI to receive a 40% cut. MovyChem has a signed agreement which is a Patent/Agreement with XERI that shows what they provide to the JV to compensate for 20 years of R&D to develop BS Retacell. The full capital contribution was NOT made by XERI to the JV. So XERI DEFAULTED on their contract obligation.
That covers what MC was bringing to the table. Now what are the services that XERI was to provide. That can be found in the next paragraph. That "Service Agreement" that concurrently works with the Patent Agreement to show what XERI's obligations are. The Duffy& Crew dreamed up SCAM Nexboard to try and create interest in this POS are in NOWAY any of MovyChem's responsibility. FACT
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.
Concurrently with the execution of the Joint Venture Agreement, the Joint Venture has entered into a Services Agreement with the Company pursuant to which the Company will provide to the Joint Venture technical services related to the exploitation of the Retacell intellectual property and corporate, marketing. business development, communications and administrative services as requested by the Joint Venture in exchange for 40% of all royalty payments received by the Joint Venture for the licensing of Retacell products.
https://www.sec.gov/Archives/edgar/data/1481504/000147793222002000/0001477932-22-002000-index.htm
I'm a bit surprised by the amount of support Movychem is getting from supposed XERI investors who seem more interested in seeing Movychem receive full payment despite their failure to deliver a commercially viable method of production for NexBoard. What's that about?
TOTAL BULLSHIT!!!
ACTUAL FACTS ARE IN THE FINS AND THEY WILL CONFIRM THESE SCAMMERS ARE BROKE....
WRONG! What WILL probably be confirmed (presumably by TMF Corp,, which is hopefully supplying the production expertise that Movychem lacked) is that NexBoard is very real -- and CAN be cost-effectively produced "at industrial scale," which will "unlock existing demand indicated by several homebuilders and developers" (as per the S1/A). This apparently includes (but is not limited to) NNC's $250+ million, 35,000-unit housing development in West Africa. Once that happens, all the conspiracy theories and BS cries of "FRAUD" will fall on deaf ears.
ISN'T IT OBVIOUS BY NOW THIS IS JUST A POS SCAM RUN BY LYING GRIFTERS...
THEY'RE BROKE AND FINS WILL CONFIRM THAT FACT!
If that were the case, they wouldn't have needed a complex, international JV to deal with what would have essentially been a standard IP licensing agreement. And the S1/A wouldn't have specifically addressed the failure of Movychem to perform certain key responsibilities of the JV.
AS PER THE S1/A: "After working through Movychem over this period of time and experiencing a number of issues, including supply chain interruptions, mechanical failures, and the general inability to produce an industrial-sized composite wall panels made with Retacell®, we have been in development of an upcycled wallboard panel that can be produced in the United States at industrial scale. This approach will enable us 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, economically and with consistency and efficiency."
The MC JV isn't complicated with NO redacted parts just a patent rights transfer. XERI FAILED to complete payment to the JV and is in DEFAULT to MovyChem. There is NO mention of MovyChem (a chemical additive company with 20 years of R&D costs to create Retacell) to produce Nexboard. BS Nexboard hadn't even been DREAMED up by Duffy &Crew YET. FACT
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MORE LAME BS. The XTI JV has a redacted area. The MovyChem JV has NO redacted parts and filed the PR to describe the terms along with the filed 8-K.
https://www.sec.gov/Archives/edgar/data/1481504/000147793222002000/0001477932-22-002000-index.htm
LOLOLOLOL....."failed to earn"
SO, IT HAS NOTHING TO DO WITH xeriant BEING BROKE???
WHAT EXACTLY DID xeriant EVER EARN???
ANSWER IS NOTHING!!!
So-for-years Xeriant promoted Retacell which was fake or faulty?
Xeriant's claim of a successful construction composite board with Retacell (June 8, 2022) was in fact false? Was in fact
not successful as Xeriant claimed?
A sixth grader would understand that Movychem did not fail to earn $2M of its binding JV agreement with Xeriant, Xeriant has failed to earn worldwide rights to an internationally patented revolutionary green, safe, non-toxic fire retardant, applicable across multiple industries globally. And in defaulting on this incredible deal Xeriant also cannot sell $130 Million of Retacell infused construction products to Next New Concept, Inc.
.
ONLY FAILURE HERE IS BELIEVING THESE LYING GRIFTERS THAT ONLY KNOW HOW TO SCAM NAIVE RETAIL...
ALSO, IN OTHER WORDS. YOU DON'T KNOW AND CAN'T BACKUP THE BS....GOT IT, THANKS
I don't have complete, unredacted copies of every part of the Movychem JV Agreement. All I can go by is the language in the S1/A which clearly indicates a failure to perform on Movychem's part.
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