Replies to post #23645 on Xeriant Inc (XERI)

[KILLAZILLA]

LOLOLOLOL....IT WAS xeriant's RESPONSIBILITY TO PRODUCE nexboard, NOT movychem. Rectacel IS JUST AN INGREDIENT TO THE CAKE. WHICH WAS BOUGHT BY xeriant.

SO, BLAMING movy FOR xeriant's FAILURE IS JUST FUTILE...

LET'S STICK WITH THE FACTS, JACK

[quester614]

What Lame BS
Nexboard is a Trademarked XERI product, Movychem was to supply the patent rights not produce a product. Nowhere in any filing is there proof that XERI lived up to their monetary obligations. This means that XERI DEFAULTED and as stated in the agreement and has the right to dissolve the JV and keep their BS intellectual property on Retacell.

For its capital contribution to the Joint Venture, pursuant to a Patent and Exclusive License and Assignment Agreement (the “Patent Agreement”), Movychem is transferring to the Joint Venture all of its interest to the know-how and intellectual property relating to Retacell exclusive of all patents, and the Company is contributing the amount of $2,600,000 payable (a) $600,000 at the rate of $25,000 per month over a 24 month period and (b) $2,000,000 within five business days of a closing of a financing in which the Company receives net proceeds of at least $3,000,000 but in no event later than six months from the Effective Date. At such time as the Company makes its $2,000,000 payment (and assuming the Company is current with its then monthly capital contributions), pursuant to the Patent Agreement, Movychem will transfer all of its rights, title and interest to all of the patents related to Retacell for an amount equal to aggregate cash contributions of the Company to the Joint Venture plus 40% of all royalty payments received by the Joint Venture for the licensing of Retacell products. Pending assignment of the patents to the Joint Venture, pursuant to the Patent Agreement, Movychem has granted to the Joint Venture an exclusive worldwide license under the patents.

The Joint Venture Agreement grants to Movychem the right to dissolve the Joint Venture in the event that the Company fails to make any of its capital contributions in which case the Joint Venture will be required to grant back to Movychem all joint venture intellectual property and the assignment to Movychem of any outstanding licenses. Additionally, the Services Agreement will be amended to provide that the 40% of royalties to be paid by to the Company will be limited to licensees who were first introduced to the Joint Venture or Movychem, as the case may be.

https://www.sec.gov/ix?doc=/Archives/edgar/data/1481504/000147793222002000/xeri_8k.htm

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