Xeriant Inc (XERI)

[quester614]

That clause was in the TERM SHEET which meant those had to be completed before they moved forward with the LOI for the DEFINITIVE MERGER AGREEMENT that you argued back then meant the merger was a done deal. The LOI was announced Oct 22 2021 THEN came the Auctus loan in Nov 2021. The loan requirements were the same that XERI had already agreed to in the TERM SHEET. XERI had to UPLIST to NASDAQ and complete the MERGER with XTI. XTI and XERI had agreed to those terms PLUS other stipulations in order to sign a DEFINITIVE MERGER AGREEMENT meanwhile they ended up signing with INPX to complete their pitiful attempt to be a NASDAQ worthy company.

NEVER was the capital for the JV. XTI extended the TERM SHEET TILL Aug 31 2022 FACT
So XTI gave more time while for XERI but Auctus did not. So when I started bringing up this FACT that of the AUCTUS DEFAULTS that continue to deny happened.
THEY ALREADY KNEW THE HOPE OF A MERGER WAS OFF THE TABLE AFTER AUG 31 2022. DUFFY also knew of this but continued to sign 2 more DEFAULT EXTENSIONS. WHY????????????????????????????????????????????????????????????


(USELESS AFTER AUG 31 2022)
Effective August 1, 2022 (the “Effective Date”), Xeriant, Inc. (the “Company”) entered into an Amendment to Senior Secured Promissory Note (the “Amendment”) with Auctus Fund, LLC (“Auctus”) pursuant to which the parties agreed to amend the Company’s Senior Secured Convertible Promissory Note in the principal amount of $6,050,000 dated October 27, 2021 (the “Note”) issued to Auctus. The Amendment (i) extended the maturity date of the Note to November 1, 2022 and (ii) extended the dates for the completion of the acquisition of XTI Aircraft and the uplist of the Company’s common stock to a national securities exchange to November 1, 2022. In consideration of the Amendment, the Company agreed to (i) grant to Auctus a new Warrant to purchase 25,000,000 shares of Common Stock dated July 26, 2022 (the “Warrant”) at an exercise price of $0.09 per share; (ii) make a prepayment of the Note in the amount of $100,000; and (iii) cause a director of the Company to cancel his 10b-5(1) Plan
https://www.sec.gov/ix?doc=/Archives/edgar/data/1481504/000147793222005599/xeri_8k.htm