Replies to post #31765 on Xeriant Inc (XERI)

[bluechipjohn]

XTI's CEO and CFO were given severence packages. Were they given cash or shares? If they were given cash that would be worth looking into. XTI didn't have 2 nickels to rub together until XERI came along.

[StockItOut]

The cash clause means that under designated circumstance, then only, may cash be withdrawn. The cash clause does not negate the Xeriant capital contribution in exchange for XTI Aircraft stock. The cash clause gives Xeriant an additional option to take/withdraw cash from Eco Aero, LLC, should the JV dissolve. Currently, Xeriant has right to XTI Aircraft stock or cash (or a combination) in equivalent valuation to the amount it funded Eco Aero, LLC.

No Party shall have the right or power to (a) withdraw or reduce such capital contribution except as a result of the dissolution of the JV or as otherwise provided by law, or (b) demand or receive property other than cash in return for its contribution.

[StockItOut]

So, based on your "what if" (how SmartyPants2 of you) the Eco Aero Management Committee members voted by consensus to pay themselves from Xeriant's $5.4M funding (which means XTI did not hire consultants and 25 engineers, and that the PDR was not completed), and they voted to terminate early the Eco Aero, LLC, as their JV Agreement.

"What if" is your basis. Cool. Any evidence in support? Or just crickets.....

Of course then such vote record will be in the Eco Aero, LLC minutes and accounting records. Maybe you can acquire those records, or confirm their existence,

I did notice that XTI Aircraft stated:

"The Agreement and the ancillary agreements expired by their terms on May 31, 2023."

Also happen to notice that XTI Aircraft stated:

"Although Xeriant did not make the full Intended Contribution, it is entitled to receive a pro rata portion (5.4%) of the agreed 10% of XTI’s fully diluted common stock it would have received in exchange for its joint venture interest had it made the full Intended Contribution (the “Xeriant Exchange Obligation”)."

XTI Aircraft Company states that the JV terminated at its full term, not early.

XTI Aircraft Company also states that Xeriant is entitled to receive 5.4% of XTI Aircraft stock for its Contribution. (3,233,533 XTI Shares as the math shows)

You say XTI Aircraft is lying, and you base your claim upon a "What if."



Do you need to know where XTI Aircraft Company made such statement?
.