AI
Thursday, July 18, 2024 12:55:10 PM
It's in the LAWSUIT AH that shows Exhibit C EXTENDED the TERM SHEET offer until August 31, 2022 for XERI to fully fund the PRE MERGER AGREEMENT that was agreed to by both parties. The $10 mil was to be fully funded by the end of May 31 2022 according to the 8-K JV agreement.
It was Duffy who failed to fund the XTI OFFER not that XTI stopped the merger until giving XERI EXTRA TIME and moving forward to NASDAQ SINCE XERI COULD NOT DELIVER.
The Agreement was effective on June 4, 2021, with an initial deposit of $1 million into the JV. Xeriant’ financial commitment is $10 million, contributed over a period of less than one year, as required an aircraft development timeline and budget.
https://www.sec.gov/Archives/edgar/data/1481504/000147793221003919/xeri_8k.htm
https://cdn.yahoofinance.com/prod/sec-filings/0001481504/000147793223009096/xeri_ex991.htm
It was Duffy who failed to fund the XTI OFFER not that XTI stopped the merger until giving XERI EXTRA TIME and moving forward to NASDAQ SINCE XERI COULD NOT DELIVER.
The Agreement was effective on June 4, 2021, with an initial deposit of $1 million into the JV. Xeriant’ financial commitment is $10 million, contributed over a period of less than one year, as required an aircraft development timeline and budget.
https://www.sec.gov/Archives/edgar/data/1481504/000147793221003919/xeri_8k.htm
https://cdn.yahoofinance.com/prod/sec-filings/0001481504/000147793223009096/xeri_ex991.htm
