Thursday, March 14, 2024 9:08:45 AM
Timing is everything. Why did the date for XTI to file for the dismissal of the BS XERI/XTI case happen the same day XTIA was created. It's over for XERI because they never had any claim to TF 600 IP to start with.
BTW where is the 8-K showing any XTIA equity going to XERI.
This Joint Venture Agreement (the “Agreement”) is dated as of May 31, 2021 (the “Effective Date”)
2.2.???????????Term. The term of this JV shall commence on the Effective Date and, unless sooner terminated as provided herein or as may be provided by law, shall continue until the first to occur of:
(ii) 24 months after the Effective Date (the “Acceleration Event”);
Termination, Dissolution and Winding-Up of the JV.
9.1.???????????Termination and Dissolution. The JV shall be terminated and dissolved upon the occurrence of any of the following events:
9.1.1.????????The occurrence of a Liquidity Event, an Acceleration event, a or a Completion Event.
9.2.???????????Liquidity Event Transactions. In the event of a Liquidity Event, Acceleration Event, or Completion Event, the following shall occur:
9.2.1.????????Assignment of Intellectual Property and other JV Assets. The VTOL License shall terminate; and all of the VTOL Technology and all other assets developed by the JV shall be assigned and transferred back to XTI with the transfer documents to be in form and substance acceptable to XTI and any counterparty involved in the Liquidity Event.
https://www.sec.gov/Archives/edgar/data/1638850/000110465922078856/tm2219481d1_ex6-20.htmX
Recent INPX News
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