Replies to post #1164 on Xeriant Inc (XERI)

[MADDSTACKER]

Impossible . It says raise AS TO 500 m to do what your talking about they would have to raise it to 5 billion ....

[dabullishbear]

It even says in the 8K, that they are issuing shares to Banjo in exchange for helping to raise capital and facilitate the merger:

"Pursuant to the terms of the MOU, the parties have agreed to cause a merger of Spectrum with Banjo. Banjo will arrange between $500,000 and $1,000,000 in equity capital to be raised for Spectrum, to facilitate the merger. In consideration, Spectrum agrees to issue membership interests in Spectrum as per exhibit 1 of the MOU equal to their respective percentages of its issued and outstanding members’ interests on a fully diluted basis concurrently with the closing of the capital raise. Banjo is expeditiously seeking to amend its articles of incorporation to increase the Company’s authorized shares of common stock to 500,000,000 from 100,000,000"

They are also looking to raise the AS to 500 million and that's to accommodate the 166 million shares that Spectrum and it's member will be moving into BANJ. They have to reverse split all of their members shares in order for it work with SS. If they didn't do that, the only other option they would have is to increase the AS somewhere between 4 to 5 billion or even higher. Obviously that wouldn't be very smart because they would kill their value and make it near impossible to uplist to a higher exchange. A successful company such as Spectrum isn't planning on being a stinky pinky. I am sure they have big board aspirations.

IMO