quester614
2 days ago
I have to self correct . The part about section 8 has been brought up in reference to the Letter Agreement that was sent on June 5 2023 which is AFTER the JV TERMINATED ON MAY 31 2023. Why did Duffy avoid using the M&A that had been agreed to??????? Still think this is possible in order to satisfy the courts of an agreement that removes this from their court system. If done in the proper jurisdiction of Delaware, it would be considered adjudicated
Arbitration is adjudicatory, as opposed to advisory, because of the fact that the arbitrator (usually a retired judge or attorney) renders a decision at the end of an arbitration hearing, and that decision is final and binding, subject only to a very limited court review. Arbitration is sometimes referred to as "non-binding" if the parties agree to make it so, but that is really a misnomer. Think of arbitration as a binding, adjudicatory process.
https://www.jamsadr.com/arbitration-defined/#:~:text=Arbitration%20is%20sometimes%20referred%20to,as%20a%20binding%2C%20adjudicatory%20process.
The second is that Duffy has been saying "were possibly being evaded" on past filings. So he has been covering his ass from the start.
quester614
3 days ago
There is quite a bit of difference in the wording concerning the XTI lawsuit. Why is there NOW a reference to section 8 of the JV agreement that has to do with Arbitration/Mediation????? Could the court be wondering why this was evaded????? Could that be the next move to drag it out?????
Why does there seem to be nothing saying that the Eco-Aero, LLC has not been dissolved NOW??????
Why is there NO statement of being owed XTI shares now?????
Duffy now says WERE POSSIBLY being evaded. 🤣
Joint Venture with XTI Aircraft
10-Q Dec 2024
On May 17, 2022, Xeriant signed a Letter Agreement with XTI related to the introduction of XTI to Inpixon, a Nasdaq-listed company. Under this Letter Agreement, if there was a combination or other transaction between XTI and Inpixon, Xeriant would receive compensation of 6 percent of XTI fully diluted pre-merger shares, and XTI would assume the obligations of Xeriant’s Senior Secured Note with Auctus Fund, LLC. On May 31, 2023, the joint venture was terminated according to an Acceleration Event, which was 24 months from the start of the joint venture. On June 5, 2023, after suspecting that the obligations under the Letter Agreement WERE POSSIBLY being evaded, the Company transmitted a formal demand letter to XTI requesting compliance with the provisions outlined in the Letter Agreement, and in accordance with section 8 of the JV Agreement with XTI. On July 25, 2023, Inpixon filed an 8-K, announcing their intention to merge with XTI having executed an Agreement of Plan and Merger with XTI. The filing also showed that XTI had engaged in a transaction with Inpixon on March 10, 2023, receiving $300,000 in funding, which was a compensation triggering event. Inpixon subsequently filed an S-4/A registration statement on October 6, 2023. On December 6, 2023, the Company initiated legal proceedings against XTI. See Litigation section below for a summary of the related legal proceedings.
https://www.sec.gov/ix?doc=/Archives/edgar/data/1481504/000147793225001010/xeri_10q.htmJoint Venture with XTI Aircraft
Joint Venture with XTI Aircraft
10-Q Sept 2024
On May 31, 2021, we entered into a Joint Venture Agreement (the “Agreement”) with XTI Aircraft Company (“XTI”), a Delaware corporation, to form the XTI JV, named Eco-Aero, LLC, with the purpose of completing the preliminary design review (“PDR”) of XTI’s TriFan 600, a 5-passenger plus pilot, hybrid electric, vertical takeoff, and landing (eVTOL) fixed wing aircraft. Under the Agreement, Xeriant is contributing capital, technology, and strategic business relationships, and XTI is contributing intellectual property licensing rights and know-how. XTI and the Company each own 50 percent of the XTI JV, and it is managed by a management committee consisting of five members, three appointed by Xeriant and two by XTI. The Agreement was effective on June 4, 2021, with an initial deposit of USD1 million into the XTI JV. Our financial commitment was up to USD10 million, contributed as needed to complete the preliminary design of the aircraft. XTI completed Preliminary Design Review during the first quarter of 2022, which was the purpose of the XTI JV. On May 31, 2023, the joint venture terminated in accordance with the Agreement. However, as of the date of this filing, Eco-Aero, LLC has not been dissolved and the distribution of the TriFan 600 design IP has not been executed.As per the Agreement, Xeriant is entitled to receive shares of XTI, the number of which is in the process of being determined by the parties involved.
https://www.sec.gov/ix?doc=/Archives/edgar/data/1481504/000147793224007198/xeri_10q.htm
https://www.sec.gov/Archives/edgar/data/1638850/000110465922078856/tm2219481d1_ex6-20.htm
quester614
3 days ago
XERI Security Details Another 12+ mil added to unrestricted with more dilution to come. Duffy has dumped over 50 mil in 3 months. Won't be able to keep that level up after the lawsuits are DISMISSED. Duffy is getting what he can now. IMO time is running out for Duffy to RS this POS??????
Share Structure
Market Cap Market Cap 12,167,535 02/13/2025
Authorized Shares 5,000,000,000 02/14/2025
Outstanding Shares 658,568,559 02/14/2025
Restricted 257,639,826 02/14/2025
Unrestricted 400,928,733 02/14/2025
Share Structure Market Cap Market Cap 16,631,862 01/24/2025
Authorized Shares 5,000,000,000 01/24/2025
Outstanding Shares 648,668,559 01/24/2025
Restricted 259,839,826 01/24/2025
Unrestricted 388,828,733 01/24/2025
Share Structure
Market Cap Market Cap 12,673,335 01/03/2025
Authorized Shares 5,000,000,000 01/03/2025
Outstanding Shares 606,379,671 01/03/2025
Restricted 222,550,938
01/03/2025
Unrestricted 383,828,733 01/03/2025
Share Structure
Market Cap Market Cap 10,292,015 12/27/2024
Authorized Shares 5,000,000,000 12/27/2024
Outstanding Shares 605,412,671 12/27/2024
Restricted 221,583,938 12/27/2024
Unrestricted 383,828,733 12/27/2024