Xeriant Inc (XERI)

[quester614]

So why might the CEO & CFO be disgruntled?? LaBelle had been with XTI since Feb 2017. So if I read this correctly, LaBelle only became a full-time employee in August of 2021 along with the CFO. Before that they were considered long-term consultants. Who may have only recently received an actual cash payroll. Brody without a doubt had all the control. LaBelle being the FOX makes even more sense to me now. Brody probably thought LaBelle had done great by bringing XERI money into XTI. I don't think he saw any of this coming. Reason for the high priced law firm from XTIA

b]Significant Employees
Until June 2021 the Company utilized several full-time consultants and many part-time consultants to conduct its operations. Upon
securing financing in 2021, the Company hired a number of full-time employees in August 2021. Key employees include Robert
Labelle serving as CEO, Charlie Johns as COO and Sarita Jha serving as CFO, all previously were long-term consultants serving their
respective positions. In addition, the Company hired Michael Hinderberger as SVP Engineering and Technology.

Compensation of Directors
For the fiscal year ended December 31, 2021, we did not pay cash compensation to any of our non-executive directors for their
services as directors. Our non-executive directors have received equity in lieu of cash compensation for their board service. We
reimburse our officers and directors for reasonable expenses incurred during the course of their performance.

As of the date of this report, David Brody, founder and chairman of the board of directors, owns the majority of shares of the Company’s
common stock, and his majority ownership might continue indefinitely. Therefore, Mr. Brody is now and could be in the future in a
position to elect or change the members of the board of directors and to control XTI’s business and affairs and certain significant
corporate actions, including but not limited to acquisitions, the sale or purchase of assets and the issuance and sale of XTI’s shares. XTI
also may be prevented from entering into transactions that could be beneficial to the other holders of the shares without Mr. Brody’s
consent. Mr. Brody’s interests might differ from the interests of other shareholders.
https://www.sec.gov/Archives/edgar/data/1638850/000110465922079281/tm2219432d2_ar.pdf