Xeriant Inc (XERI)

[quester614]

Read the JV agreement. XERI claims that the Preliminary Design was completed. The JV has ended and all IP goes back to XTI despite Duffy claims in the BS lawsuit

2.1.???????????Purpose. The sole purpose of the JV shall be to advance the design and development of the Aircraft, more specifically to complete the preliminary design of the Aircraft, as described in this Agreement (the “Purpose”).

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.
9.1.2.????????The agreement of all of the Parties.
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.htm