Always IF or MAYBE how about the truth as it stands right now. Clearly states that the uplist must happen ON or BEFORE the new date of Nov 1st. NOT filing an S-1 with the SEC would likely qualify as beginning the process of uplisting. Clearly states that XERI needs to acquire 100% of XTI ON or BEFORE the new date of Nov 1st. NOT that XERI only has to have a signed & binding Definitive Merger Agreement with XTI.
3.19 Failure to Uplist. If, at any time on or after the date that is eight (8) calendar months after the Issue Date.
3.20 Failure to Acquire XTI. The Company fails to acquire 100% of the equity interests of XTI on or before the date that is eight (8) calendar months after the Issue Date. https://www.sec.gov/Archives/edgar/data/1481504/000147793221007820/xeri_ex41.htm It will default because Auctus is in control!!! 10-K out this week 77 days till NOV 1st