XTI Aerospace Inc (XTIA)

[quester614]

Is this your BS answer to 5.2 which states that no party can reduce the capital contribution. I agree that modification to the budget are allowed. Which could describe multiple actions. How the capital is allocated. In the order the projects are approached. A number of budget parameters can be changed. Although 5.2 states clearly that changing the capital contribution is the one change that is not allowed.
Also you have also failed to explain how the committee change the signed budget before there was a signed JV where Duffy states the $1 mil was paid.

Does 5.2 also state that XERI would have NEVER had any kind of equity in XTI and can only be paid only in cash in return for their contributions???? XERI was never to get any XTI stock to start with. Could this mean LaBelle did protect XTI from XERI ever having any control over XTI like I have said from the beginning.

3.3.1.???????Any modification to the Budget, as defined herein.

3.5???????????Budget. Attached as Exhibit D is the budget for the preliminary design of the Aircraft (the “Budget”). The Budget may be revised, from time to time, upon approval of all of the members of the Management Committee.

5.2.???????????Further Contributions, Interest on Capital, JV Percentages and Withdrawal of Capital Contributions. There shall be no required capital contributions other than as expressly set forth in this Agreement. No Party shall have the right to make voluntary capital contributions to the JV, other than as expressly set forth in this Agreement, without the prior written consent of the other Party. Therehave failed to address that Duffy shall be no interest payable on any capital contributions made to the JV. No Party shall have the right or power to (a) withdraw or reduce such capital contribution except as a result of the dissolution of the JV or as otherwise provided by law, or (b) demand or receive property other than cash in return for its contribution.


Already addressed years back, so wouldn't matter what I cited and told you.
You just maga revision it, and ignore what does not fit your conclusion that ignores facts.
That's a nut job.
3.3.1 mtfkr