Xeriant Inc (XERI)

[quester614]

Who's lying to themselves?? Maybe you need more than a FEW BRAIN CELLS to understand this?? When will you admit that XERI defaulted on the MC JV due to LACK of capital contribution. MC was NEVER supposed to produce anything, just provide the IP.

Concurrently with the execution of the Joint Venture Agreement, the Joint Venture has entered into a Services Agreement (the “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.

WRONG IF THAT WAS THE CASE THEN Why hasn't Duffy sued MC would be the real question??? He had NO problem suing HALO did he, and LOST?? MC got paid and retained their IP of Retacell which is ALL they were to contribute to the JV. This is evident by Duffy's supposed use of off the shelf products NOW to make SCAMBOARDS.

It was XERI FAILURE to make its capital contributions in which case MC was able to dissolve the Joint Venture. ANOTHER DUFFY FAILURE AGAIN NOT MC'S. JUST MORE BULLSHIT MISINFORMATION & DISTRACTION

PLAIN ENGLISH NO NEED TO READ BETWEEN LINES. NOT JUST 1 SENTENCE IF YOU CAN COMPREHEND ALL OF IT? YOU SEEM TO HAVE TROUBLE!!!!

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

XERI=SCAM
TIC toc