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Deals still pending with a product that fails?
LOL. This gets taller and taller.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=171847722
"So XERI is supposed to pay another $2 million when Movychem failed to deliver on its end? As an investor, I would seriously question XERI for paying another penny to a non-performing partner, let alone $2 million!"
FACT IS xeriant IS BROKE....THEY COULDN'T PAY ANYONE ANYTHING. CONFIRMED DEFAULT....
"successful development of a... composite panel made from... Retacell® and... may be produced or cut in varying thicknesses and sizes, including standard 48” x 96” sheets."
But in a (June 8th to August 12th, 2022) two month span of time and after years of Xeriant relying upon and promoting Movychem and its Retacell, Xeriant sidesteps Movychem and Retacell with $Millions in supposed Next New Concept, Inc. and other major manufacturers orders pending, because in this tiny two month span of time, after already "successful development of Retacell and of Retacell infused building construction panels with Retacell, and at 48in X 96in in size and in varying thicknesses, there were "supply chain interruptions, mechanical failures, and the general inability (presumably only of Movychem) to produce an industrial-sized composite wall panels made with Retacell®." (in only its "laboratory setting", Xeriant newly claims).
And so in this two month window concurrently Xeriant also had "been in development of an upcycled wallboard panel that can be produced in the United States at industrial scale."
Even the Farns can't explain the legitimacy of this tall story.
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Those deals are still pending. In fact, there's NOTHING in the entire S1/A filing (which is HEAVILY SCRUTINIZED by the SEC) to indicate otherwise!!! Neither is there any mention of a DEFAULT!!! So, as far as the SEC is concerned, I'm the one who is right on the money, despite the current share price.
So XERI is supposed to pay another $2 million when Movychem failed to deliver on its end? As an investor, I would seriously question XERI for paying another penny to a non-performing partner, let alone $2 million!
Good Friday morning. XERI... $$$$$$$$.. LONG!!
LOLOLOLOL....you SAID THE SAME THING ABOUT ALL THE OTHER BULLSHIT SO CALLED "DEALS" THEY NEVER DID....
JUST LYING GRIFTERS SCAMMING NAIVE RETAIL
WHY WOULD THEY(movychem) DO ANYTHING FOR xeriant KNOWING THEY'RE ALL JUST LYING GRIFTERS SCAMMING NAIVE RETAIL. ALSO, THERE'S THAT 2 MILLION THEYmovychem) CAN'T COLLECT EITHER CAUSE THEY'RE(xeriant) BROKE!!!!
I believe XERI's production partnership with TMF will soon pay off -- and trigger some major sales contracts in the near future. The indications are all there for anyone to see.
Your ASSUMPTION that XERI is NOT S SCAM is ridiculous.
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Your assumption that XERI would leave $120 million on the table is ludicrous. Time will soon tell what the results of their new production partnership with TMF will come up with -- and whether or not Movychem and/or Retacell are still in the picture in both the near or long-term.
No my point was $120 mil was available besides the $130 mil Nexboard part of the deal. BTW Smart PPL would KNOW that 120 is LESS than HALF of 250
"Seems Duffy is leaving $120 mil on the table that would go along way at this point in time. Retacell is a additive so just mix it with some paint for $120 mil if it is REAL"
"No, your point was that more than HALF of the $250 million could come from fire-retardant paint"
Letter of Intent (“LOI”) with Next New Concept (“NNC”) for the purchase of up to $130 million of Xeriant’s Retacell®-based wall panels, for a 35,000-unit residential development project in Africa, anticipated to be completed within five years.
"NNC has now expressed interest in acquiring additional building products through Xeriant, including doors coated with Retacell®-infused paint. The project between NNC and Xeriant could now generate more than $250 million in revenue for Xeriant beginning in 2023".
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Battery-powered eVTOLs need to shift to XTI's business model (AAM / regional air travel vs UAM / urban air mobility -- aka local "air taxis") in order to be profitable! (AS PREDICTED BY SP2!)
"...seasoned industry consultant Darrell Swanson laid the sector’s cards on the table when he delivered a sober assessment of what is at stake. “We still have a long way to go,” he told the conference. “There’s a lot to do to get the type certification [for the new aircraft] and then we risk falling into a negative feedback loop if we can’t get production scaled up for [competitive] pricing and service delivery.”
The answer, said Swanson, whose EA Maven consultancy is preparing studies on paths to commercialization in markets including the UK, is to diversify business models into regional air services.
https://www.futureflight.aero/news-article/2023-05-02/advanced-air-mobility-evangelists-get-reality-check-revolutionaero?
No, your point was that more than HALF of the $250 million could come from fire-retardant paint -- which is ridiculous! That's not to say that XERI would/should pass up the opportunity to make a fire-retardant paint (with Retacell or whatever next gen fire-retardant they decide to use) but it might not be a priority for the African project, since NexBoards could potentially come in all different shapes, sizes, textures & colors.
35000 houses would need a lot of paint. No reason not to make some money on that part of the BS NNC contract. My point was that there are other products other than Nexboard that XERI could supply with RETACELL IF IT WAS REAL
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$130 Million?!? That's probably some of the profit we will make. XERI... $$$$$$$$.. LONG!!
Your math is WAY OFF! $130 million just for paint? That # was for ALL the other building materials to be used in the African project besides the basic 4x8 ft NexBoards that will replace drywall. The beauty of the TMF production approach appears to be their ability to produce NexBoards in almost every size, shape, and thickness -- creating window & door frames, doors, roofing, decking, etc. Yes, Retacell might be able to be mixed with paint -- but that won't come anywhere close to $130 million!
The timeline is much shorter than that. They're planning on delivering NexBoards in Q3 of this year--- in time to start building those 35,000+ homes in West Africa.
Go to the MC website and you will see the only products they make are chemical additives. Why can't still use Retacell to supply the other part of the BS NNC building deal that was added to the $130 mil Nexboard. Seems Duffy is leaving $120 mil on the table that would go along way at this point in time. Retacell is a additive so just mix it with some paint for $120 mil if it is REAL
Letter of Intent (“LOI”) with Next New Concept (“NNC”) for the purchase of up to $130 million of Xeriant’s Retacell®- NNC has now expressed interest in acquiring additional building products through Xeriant, including doors coated with Retacell®-infused paint. The project between NNC and Xeriant could now generate more than $250 million in revenue for Xeriant beginning in 2023.
YOU HAVE BEEN WARNED
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Yah! Very goot! And yet-there-was the "successful development".
"successful development of a multi-purpose, high-strength fire- and water-resistant composite panel made from a formulation of Retacell® and a cardboard fiber-reinforced polymeric resin, which can be sourced from recycled materials. The panel is fabricated through a compression molding process and may be produced or cut in varying thicknesses and sizes,
including standard 48” x 96” sheets.
“We have been impressed with the Retacell panel’s performance and believe it can compete effectively with many of the building products on the market such as OSB, plywood, drywall, and engineered wood flooring, to name a few. The superior flexibility, resistance properties, insulating ability and mechanical strength of this product may also reduce the cost and complexity of SIP systems. Our team in Slovakia is currently testing the panel’s tensile and thermal properties for certification,”
stated Keith Duffy, CEO of Xeriant.
Typical attempt at spreading misinformation about XERI by purposely misstating and negating the original information.
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Morning coffee = wake-up! Duffy will be embroiled with the SEC in a year,
This POS won't be here another year.
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Probably best to go away and come back this time next year. Xeri looks to have a long way to go before there is a signed deal and the pps starts moving. That S1A didn't instill much confidence in the short term for me.
Good Thursday morning. XERI... $$$$$$$$.. LONG!!
So according to your interpretation, Movychem basically had NO RESPONSIBILITY to help turn Retacell into a commercially viable product. Is this it? Isn't it possible that XERI was also buying their supposed expertise in producing their IP?
It's interesting reading the two S-1s side-by-side. Xeriant is lying. Duffy is lying. This is very clear.
Friends n Family are lying. This is very clear.
I'm very curious to see if the auditors certify the next 10-K. If the auditors certify the next 10-K, the auditors will evidence their corruption. Therefore expect Xeriant to fold before the next annual filing.
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The S-1 is not what MovyChem agreed to. Show where in the original agreement where MC was to supply XERI's trademarked product Nexboard. This statement isn't a lie it's just something MovyChem wasn't obligated to make. It's all in the details and won't be found with made up reading between the lines.
"However, since the announcement date, the Movychem JV has been unable to fabricate 48" x 96" Retacell®-infused panels with the quality demanded by Xeriant and its clients."
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That is an overly narrow view of how JVs work! According to that interpretation, XERI must be lying in its S1/A -- because the language in the filing sure seems to point to the failure of Movychem to perform certain production-related results and not simply assign the Retacell IP to the JV!
MORE LAME BS
That was NEVER what the MovyChem/XERI JV was created for. Filing shows MovyChem's obligation was to supply the patents only for Retacelas as stated in the 8-K. Just BS saying MC was to supply XERI's Nexboard.
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.
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Unless XERI is lying in an official SEC filing, it's obvious why Movychem is no longer in the NexBoard picture -- and why XERI chose to partner with TMF in the test production of NexBoards (as per their most recent PR). I would expect/hope to hear something soon regarding TMF's efforts in this regard -- since XERI is scheduled to deliver NexBoards before the end of Q3 this year in order for NNC to start building those 35,000 homes in Africa.
The S1/A clearly described the failure of Movychem to perform: "On June 8, 2022, we announced the development of a multi-purpose, high-strength fire- and water-resistant composite panel made from a formulation of Movychem’s industrial flame-retardant, Retacell®, and a cardboard fiber-reinforced polymeric resin. The panel described in the press release was initially produced in a laboratory setting. [b]However, since the announcement date, the Movychem JV has been unable to fabricate 48" x 96" Retacell®-infused panels with the quality demanded by Xeriant and its clients.
On August 12, 2022, we filed the trademark“NexBoard,” for construction panels, namely, composite sheets and panels composed primarily of plastic, reinforcement materials and fire-retardant chemicals for use in walls, ceilings, flooring, framing, siding, roofing and decking. The trademark filing was intentionally broad and based upon demand for a general all-purpose construction panel made from a mixture of fire-retardant and recycled materials.
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.
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.
This SCAM still trading?
What did MovyChem fail to due?? Xeri was just buying the patent rights for Retacell.
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Basic Business Law dictates that XERI doesn't have to continue paying Movychem if Movychem fails to live up to its responsibilities in the JV!
Point to a single statement in any PR, SEC filing, contract, webpage, etc. supporting that position! Why would it be XERI's responsibility to not only pay Movychem and share half its profits with them -- but then ALSO develop a cost-effective, scalable production technique that would make Retacell into a commercially viable line of green building materials?
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.
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