Replies to post #23500 on Xeriant Inc (XERI)

[StockItOut]

Yes it does. "Nowhere does it say that is a variable amount." Yes it dies say so.

The $10M was for the preliminary design of the TriFan 600, and the preliminary design was completed under budget of $10M. It's not rocket science.

"contributed over a period of less than one year, as required an aircraft development timeline and budget."

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[Smartypants2]

That is NOT what the JV agreement said! $10 million was at the high end of a spectrum of what XTI anticipated might be needed to complete the project. XERI paid the bills on an "as needed" basis -- and then stopped paying once the Preliminary Design Review was completed -- ahead of schedule and under budget.