There's a big difference between a borrower being technically considered in default and actually being DECLARED in default via a formal notice / judgement. (It's like the difference between having your heart stopped by doctors for a few seconds during cardiac surgery and actually being declared dead.)
XERI has repeatedly informed us that they have been in continuing and active negotiations with Auctus regarding the loan -- which was primarily used to fund XTI's development of the TriFan 600. In the interim, "pre-sales" of the TriFan exceeded $7 BILLION. In effect, those pre-sales are a form of collateral that demonstrate XERI is looking at a handsome return on its investment in XTI.
If Auctus was really concerned about XERI defaulting on the loan, they would have sent XERI a notice of default and XERI would have had to inform the public of such a notice in its SEC filing(s).
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