![](https://investorshub.advfn.com/uicon/636701.png?cb=1635435749)
Saturday, May 11, 2024 12:07:20 PM
I do remember saying how CEO & CFO got severance pay out of the JV. Meaning this was designed to fill their pockets too not just Duffy & CREW.
Combine that with the Chief Financial Officer going out the door exactly when the 1 year for all payment to be made was up. Maybe XTI had no idea what these 2 were up to. Could they be involved in fraud??? Leaving XTI in a real jam. Why didn't XTI just declare a breach of contract from the beginning when XERI couldn't even meet what was agreed upon??? Could the CFO have kept that concealed. Could the quick completion of the PDR ending the JV meaning no default could be filed???? I guess only the CEO and CFO can answer that
Why does Hinderberger continue to promote the $100 mil merger a year later. When XERI couldn't come up with $10 mil. Really stuck in a bind and it might just take a high priced lawyer to get them out of it.
if both the JV has failed for any reason to make a scheduled payment under the Services Agreement and XTI’s Board of Directors has determined that the continued existence of the JV would threaten XTI’s ability to finance its business (an “XTI Termination”) or upon a determination that the purpose of the JV has been completed made by a majority of the Management Committee of the Joint Venture including at least one member designated by each Party (a “Mutual Termination”) (each of an Xeriant Termination, an XTI Termination and a Mutual Termination being a “Completion Event”).
https://www.sec.gov/Archives/edgar/data/1638850/000110465922078856/tm2219481d1_ex6-20.htm
August 2022
Michael Hinderberger, confirmed the delay during an August 3 press conference held by Xeriant Aerospace, with which it still aims to merge on the basis of a joint venture announced back in June 2021.
According to Hinderberger, who recently replaced Robert LaBelle as head of XTI, the company has completed a preliminary design review of the six-passenger TriFan 600.
https://www.ainonline.com/aviation-news/business-aviation/2022-08-04/xti-pushes-back-trifan-600-service-entry
Recent XERI News
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 05/14/2024 05:20:07 PM
- Form SEC STAFF ACTION - SEC Staff Action: ORDER • Edgar (US Regulatory) • 03/08/2024 06:00:01 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 02/14/2024 05:43:57 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 12/12/2023 09:35:19 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 11/13/2023 10:05:01 PM
- Form 10-K - Annual report [Section 13 and 15(d), not S-K Item 405] • Edgar (US Regulatory) • 10/16/2023 11:27:32 AM
- Form 8-K/A - Current report: [Amend] • Edgar (US Regulatory) • 10/06/2023 08:57:53 PM
- Form NT 10-K - Notification of inability to timely file Form 10-K 405, 10-K, 10-KSB 405, 10-KSB, 10-KT, or 10-KT405 • Edgar (US Regulatory) • 09/28/2023 10:01:42 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/31/2023 08:21:47 PM
Kona Gold Beverages, Inc. Announces Strategic Initiatives and Corporate Direction Changes • KGKG • Aug 2, 2024 2:00 PM
POET and Luxshare Tech Expand Product Offerings for Artificial Intelligence Networks • POET • Aug 1, 2024 9:28 AM
Management Discusses Financial Filings of Global Arena Holding Inc., for 10-K 2023 and 10-Q, 1st Quarter 2024 • GAHC • Aug 1, 2024 9:14 AM
VAYK Announces LOI to Acquire $1 Million Home Service Company to Support Airbnb Business • VAYK • Aug 1, 2024 9:00 AM
Duane Forrester Joins INDEXR as SVP of Search • MONI • Jul 31, 2024 11:46 AM
Lingerie Fighting Championships Help Fulfill Death-Bed Promise With First Major Motion Picture • BOTY • Jul 31, 2024 9:00 AM