Xeriant Inc (XERI)

[StockItOut]

JV requires Xeriant must only be provided cash?
Oh, thanks for clarification. I thought the JV states that Xeriant gets paid/earns pro-rata 1% of XTI Aircraft stock for every $1M paid by Xeriant.

You also just quoted XTI Aircraft financials that states,

The Company considered ASC 480-10, Distinguishing Liabilities from Equity, and determined the financing arrangement with Xeriant through the Joint Venture is liability classified since the obligation must be settle by issuing a variable number of the Company’s equity shares.

But you say no XTI Aircraft stock will be provided to Xeriant.

And you say only a small cash payment of maybe $300,000 will be paid to Xeriant.

Fascinating!