Xeriant Inc (XERI)

[StockItOut]

Funny how hope becomes fact. The SEC Complaint refers to Auctus debt notes once and if converted into shares at a large discount, and Auctus also then "selling the newly-issued shares of stock into the public U.S. securities markets."
https://www.sec.gov/litigation/complaints/2023/comp25741.pdf

If Auctus has not converted its Xeriant debt Note into XERI shares, and at a large discount, and sold these shares, then the Auctus Note continues to remain a debt obligation of Xeriant's.

$6.05M borrowed just does not vanish.

It's about $10M now, right?, after Xeriant's two previous default extensions with added-on penalty debt.

https://www.sec.gov/Archives/edgar/data/1481504/000147793221007820/xeri_ex41.htm

SENIOR SECURED PROMISSORY NOTE

FOR VALUE RECEIVED, XERIANT, INC., a Nevada corporation (hereinafter called the “Borrower” or the “Company”) (Trading Symbol: XERI), hereby promises to pay to the order of AUCTUS FUND, LLC, a Delaware limited liability company, or registered assigns (the “Holder”), in the form of lawful money of the United States of America, the principal sum of $6,050,000.00, which amount is the $5,142,500.00 actual amount of the purchase price (the “Consideration”) hereof plus an original issue discount in the amount of $907,500.00 (the “OID”) (subject to adjustment herein) (the “Principal Amount”) and to pay interest on the unpaid Principal Amount hereof at the rate of zero percent (0%) (the “Interest Rate”) per annum from the date hereof (the “Issue Date”) until the same becomes due and payable, whether at maturity or upon acceleration or by prepayment or otherwise, as further provided herein. The maturity date shall be twelve (12) months from the Issue Date (the “Maturity Date”), and is the date upon which the Principal Amount, the OID, as well as any accrued and unpaid interest and other fees, shall be due and payable.

This Note may not be prepaid or repaid in whole or in part except as otherwise explicitly set forth herein.

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