Xeriant Inc (XERI)

[StockItOut]

Xeriant in exchange was to receive 1% of XTI Aircraft Company common stock for every $1M funded up to $10M raised for completion of the TriFan 600's preliminary design. But at $5.6M funded Xeriant already had earned (acquired rights to) almost 10% of XTI Aircraft Company common stock (that in total was only about 35 Million XTI Aircraft shares).
I then deduce to presume that that arrangement Duffy probably did not want altered when later XTI Aircraft's mngt realized that it took only $5.6M and not $10M to acquire 10% of XTI Aircraft, and it likely in part also led to XTI Aircraft's CEO Bob LaBell and XTI's CEO to be let go, and XTI Aircraft really no longer liking Duffy (if not already disliking him).

As for what Quester just explained about the language of the JV Agreement as reason why Xeriant does not own or have right to XTI Aircraft's TriFan 600 IP, that logic argument I first made, that Quester now relies upon but as appropriated from me.