Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
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.
TIC TOC
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
TIC TOC
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.
TIC TOC
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
TIC TOC
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
TIC TOC
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.
Same broken record from the GANG OF 4. On and on about this scam, this POS, this one buying 1 million more shares, this is about to explode any day now. What a bunch of horse hockey
With everything being said, I am purchasing more shares. XERI... $$$$$$$$.. LONG!!
This POS has seen it's best day 2 years ago, nothing left. Glad I got out when I did wish it was sooner. Been spreading the uplist BS for over 2 years.
I was wondering when you have this party if I could be the guest speaker and tell my secret to the profits I made with XERI. What the hell maybe there won't be a party so my secret was I GOT OUT OF THIS POS.
Smartypants2
Re: quester614 post# 3689
Friday, January 22, 2021 12:48:02 PM
Post# 3690 of 23709
So Quester614 & I are already Xeri-llionaires. Who else? I'm working on the guest list for our post-pandemic party at Xeriant's new offices in Boca Raton. LOL. (By then, the stock should be well over $1.00 -- and the company may already have been uplisted -- so plan accordingly.) Be there or be square!
Funny still trying put blame on someone else for their own failures just like a loser company does...
Show where in the original JV signed by both parties that MovyChem agreed to make Nexboard panels. Show any filing with a MovyChem signature that MC agreed to make Nexboard panels. MC NEVER agreed or was obligated to make XERI's BS Nexboard. Duffy couldn't comeplete XERI's full financial obligations for the XTI JV ($10 mil) or the $2.6 mil for the MC JV. So just how does anybody think that somehow TMF will finance Duffy's dream Nexboard. NOTHING Duffy has done created any value for the retail investor or ANY REVENUE FOR XERI.
There's a reason for the saying DID YOU GET THAT IN WRITING!!!!
TIC TOC
Anyone with common sense and 6th grade reading comprehension skills would understand that Movychem failed to earn that $2 million payment.
THAT'S NOT HOW IT READS. SAYS THEY DIDN'T PAY THE 2M, HENCE DEFAULT....
So, unless XERI is lying through their teeth on an S-1 filing (which is highly doubtful), it seems clear that they have replaced Movychem as their production partner on NexBoards due to MC's failure to perform certain key contractual responsibilities.
See page 6 on the S1/A. It's as plain as day!
"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."
The upside potential for XERI hasn't even scratched the surface yet. Shares that cost .025 today could be worth 100X+++ once TMF comes up with a practical production technique that triggers mega-deals for NexBoards with NNC and that leading US-based builder.
What key function did MovyChem fail to complete. Their only function was to supply the patent rights for Retacell. Since XERI DEFAULTED by NEVER completed payment to the JV MC, MC keep all rights to their product.
Nexboard is a XERI created and Trademark product that was to have Retacell used as a fire retarder. NOWHERE in the JV agreement does it say MovyChem was to produce Nexboard. That was a BS product created by Duffy & Crew to SCAM investors with.
TIC TOC
XERI clearly makes the case in the S1/A that Movychem didn't deserve to be paid another penny due to their failure to provide a cost-effective production technique to create commercially viable NexBoard products. Any other interpretation would represent a failure of reading comprehension.
I post here to keep new naive investors informed of all the BS being spread here. NOT to try and sway the longs that have already lost their ass. They should have been listening for the almost 2 years when I started warning PPL of this SCAM and it was still in the .20'S-.30's. That's why I made close to 7 figures I got OUT. NO CHANCE IN HELL OF DOING THAT NOW. This POS is done and seen it's best days.
The OTC is a gamble so you have to know when to hold them and know when to fold them to survive. There are always tells in the game if you know what to look for!
NOT HARD TO SEE XERI's
TIC TOC
LOLOLOLOL...WE DON'T NEED TO REHASH JUDGEMENT AGAIN NOW, DO WE. S1A CLEARLY STATES THE MOVY DEAL IS IN DEFAULT CAUSE THEY DIDN'T PAY THE 2M OWED.
A default requires the filing of a judgement in a court of law. There is no SEC filing that used the past tense, stating that XERI defaulted. Companies miss deadlines all the time without being declared in default -- especially if the other party has agreed to an extension OR is also required to live up to certain contractual responsibilities...OR if the parties are in active discussion/negotiation regarding the payment amount or deadline.
Why should XERI be required to pay $2 million when Movychem failed to perform a key function that was critical to the success of the JV? No investor interested in seeing XERI succeed would ever want to see them throw money away like that!
REALLY....I DON'T DO REQUESTS. READ THE FINS YOURSELF.
ALSO, PAST POSTS ALREADY HAVE LINKS AND COPIED SEC FILINGS THAT SPECIFICALLY SAY THEY DEFAULTED IN THE MOVYCHEM DEAL.
NOT WITH AN F- CREDIT RATING....
YOU DID. So just what did you mean by another $2 mil when there is NO PROOF they paid the first $2 MIL. It's clear that 2 mil was owed to the JV which was NOT PAID. Which would make XERI in DEFAULT on this DEAL also.
Smartypants2
Friday, May 05, 2023 10:42:28 AM
Post# 23680 of 23691
So XERI is supposed to pay another $2 million when Movychem failed to deliver on its end?
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.
TIC TOC
Funny how there's nothing to back up your claims. What filings specifically? Please provide links and page numbers.
Who said they paid $2 million to Movychem before? Whatever they've paid to date apparently wasn't reciprocated in terms of production expertise.
XERI has always managed to come up with a solution in the past. They've avoided default in the past and had no problem raising money from F&F's when needed -- and should be able to raise additional funds based on the pending deals cited in the amended S-1.
LOLOLOLOL....SEC FILINGS SAY OTHERWISE. FACTUAL INFORMATION IS WHAT CREDIBLE SHARE. NOT SPREAD LIES...
Show where XERI paid MovyChem the $2 mil to start with. Don't expect it to in the next 10-Q due out in less than 2 weeks.
TIC TOC
No Default! XERI... $$$$$$$$.. LONG!!
Followers
|
100
|
Posters
|
|
Posts (Today)
|
12
|
Posts (Total)
|
33853
|
Created
|
12/26/12
|
Type
|
Free
|
Moderators SurgeGuy2.0 |
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |