Xeriant Inc (XERI)

[quester614]

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