XERI will never get any shares of XTIA. They were only awarded a cash settlement of $330,501 from the JV. Probably didn't even receive that since this was payment in regards to the Auctus Toxic loan. Why don't you share your contract expertise. You have continually said I don't KNOW how to read them. You lost the bet no matter how long the $500 mil BOGUS lawsuit lasts. That had NOTHING to do with the bet. Then again SmartyPants you never did seem to understand either bet you LOST. Keep listening to the other AH that thinks differently.
XTI Airctaft 1-K 2022 The Company considered ASC 480-10, Distinguishing Liabilities from Equity, and determined the financing arrangement with Xeriant through the Joint Venture is liability classified since the obligation must be settle by issuing a variable number of the Company’s equity shares. Furthermore, the Company considered ASC 815, Derivatives and Hedging, and determined the obligation should be recorded at fair value and marked to market periodically. Accordingly, the Company recorded a $330,501 fair value adjustment to the obligation for the year ended December 31, 2022. https://www.sec.gov/Archives/edgar/data/1638850/000110465923080673/tm2317519d2_partii.htm What three characteristics must be met to meet the definition of a derivative under ASC 815?
ASC 815-10-15-83 defines a derivative instrument. A derivative instrument is a financial instrument or other contract with all of the following characteristics: Underlying, notional amount, payment provision.Mar 31, 2024
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