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Monday, May 16, 2022

Xeriant Inc (OTCMKTS: XERI) Major Move Northbound as JV to Develop the Hybrid-Electric TriFan 600 VTOL Airplane Moves Forward

Xeriant Inc (OTCMKTS: XERI) is making a strong move up the charts in recent days since a brief dip below a dime. The stock made a spectacular move up the charts from pennies to highs of $0.58 per share in January of 2020 and has been dropping steadily since than before hitting all-time lows of $0.061 in December. XERI has started January with a bang and was up over 50% on Friday alone. XERI has done a lot to clean up its balance sheet over the past year and is now virtually debt free with just $237k in liabilities and $282k in the treasury. XERI recently up listed to fully reporting OTCQB, signed Maxim Group LLC to be the Company’s financial advisor, and closed an institutional financing round of $6MM. 

Xeriant established a joint venture with XTI Aircraft, a leading cleantech aircraft OEM, to further the development of their hybrid-electric TriFan 600 VTOL airplane, and are pleased to report that the preliminary aircraft design phase is ahead of schedule. XTI Aircraft anticipates at least 100 additional sale reservations, increasing their total number of preorders to over 300, representing almost $2 billion in prospective revenue. This aircraft will be an important component in Xeriant plan to further its position in AAM. Xeriant is also in the process of finalizing an agreement related to the commercialization of Movychem’s Retacell product, a breakthrough non-toxic flame retardant poised to disrupt the aerospace, automotive, and construction industries.  

Xeriant Inc (OTCMKTS: XERI) operating out of Boca Raton, Florida (d.b.a. Xeriant Aerospace) mission is to advance the future of aerial mobility by accelerating the development and adoption of disruptive aerospace-related technologies aimed at expanding applications and markets, optimizing safety and performance, and improving efficiency and sustainability, while building maximum shareholder value through a strategy of diversification and synergy. The Company is dedicated to the emerging aviation market called Advanced Air Mobility (AAM), the transition to eco-friendly on-demand flight, and is partnering with and acquiring strategic interests in visionary companies that accelerate this mission. Xeriant is focused on the development and deployment of next-generation electrically powered aircraft capable of vertical takeoff and landing (VTOL), breakthrough technologies and advanced materials which can be successfully integrated and commercialized, and the critical infrastructure components needed to support operations. Xeriant is located at the Research Park at Florida Atlantic University in Boca Raton, Florida adjacent to the Boca Raton Airport. 

Through its joint venture agreement with XTI Aircraft Company (“XTI”) based in Englewood, Colorado, Xeriant is involved in completing the preliminary design of their TriFan 600 eVTOL aircraft. XTI is a privately owned OEM and developer of next generation, cleantech VTOL aircraft. The TriFan 600 is being designed to become the fastest, longest-range VTOL hybrid-electric aircraft in the world and the first commercial fixed-wing VTOL airplane, with current pre-orders exceeding $1.3 billion in gross revenues upon delivery of those aircraft. This aircraft will be an important component in Xeriant plan to further its position in AAM. 

Advancements in structural design, propulsion systems, materials, sensors, artificial intelligence (AI), batteries and high-speed connectivity have dramatically enhanced energy efficiency, acoustics, emissions, safety and autonomy, making feasible a broad range of electrically powered VTOL capable aircraft, and transitioning aviation into a new era. Subject to available capital, Xeriant intends to acquire strategic interests in the most promising of these technological breakthroughs and next-generation aircraft configurations to accelerate the development of economically viable products that address specific market demands. 

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In August 2019, Xeriant was approved by the Florida Atlantic Research and Development Authority to become a member and tenant of the Research Park at Florida Atlantic University (FAU) in Boca Raton, Florida, which is part of the university and adjacent to the Boca Raton Airport.  FAU is one of the top engineering schools in the state, and part of the National Science Foundation’s Industry/University Cooperative Research Center Program called the Center for Advanced Knowledge Enablement (CAKE).   The 70-acre Research Park, home to many technology companies and research-based organizations, is the site of Xeriant’s main office. The relationship with FAU gives Xeriant tremendous credibility, since few companies are selected for membership in its research park, and may provide access to grant programs and financing opportunities.   

The Company is led by CEO Keith Duffy who has over thirty years of experience in investment banking, management, finance, strategic planning and operations, and has been a principal in a number of start-up companies. He arranged the merger of American Aviation Technologies with a public company to form Xeriant and established the relationship with Florida Atlantic University (FAU), preparing the white paper that was approved by the Florida Atlantic Research and Development Authority. Mr. Duffy was formerly the founder and CEO of a public company, two bank holding companies, a software development company, and a biotech company now trading on NASDAQ. 

On December 16 CEO Keith Duffy updated shareholders stating among other things: “One of Xeriant’s primary goals was planning and executing the Company’s three-pillar approach to become a leader in the emerging AAM aviation segment, bringing together the Aircraft, Technology, and Infrastructure components to enable its deployment and integration. We established a joint venture with XTI Aircraft, a leading cleantech aircraft OEM, to further the development of their hybrid-electric TriFan 600 VTOL airplane, and are pleased to report that the preliminary aircraft design phase is ahead of schedule. XTI Aircraft anticipates at least 100 additional sale reservations, increasing their total number of preorders to over 300, representing almost $2 billion in prospective revenue. Xeriant is also in the process of finalizing an agreement related to the commercialization of Movychem’s Retacell product, a breakthrough non-toxic flame retardant poised to disrupt the aerospace, automotive, and construction industries. Further, for the past several months, we have been in discussions with legacy revenue-producing aerospace companies that could provide the facilities, logistics expertise, sales network and other operational support infrastructure components required for the proliferation of AAM. On a corporate level, we up listed the Company to the OTCQB market, signed Maxim Group LLC to be the Company’s financial advisor, and closed an institutional financing round of $6MM.” 

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XERI is making a strong move up the charts in recent days since a brief dip below a dime. The stock made a spectacular move up the charts from pennies to highs of $0.58 per share in January of 2020 and has been dropping steadily since than before hitting all-time lows of $0.061 in December. XERI has started January with a bang and was up over 50% on Friday alone. XERI has done a lot to clean up its balance sheet over the past year and is now virtually debt free with just $237k in liabilities and $282k in the treasury. XERI recently up listed to fully reporting OTCQB, signed Maxim Group LLC to be the Company’s financial advisor, and closed an institutional financing round of $6MM. Xeriant established a joint venture with XTI Aircraft, a leading cleantech aircraft OEM, to further the development of their hybrid-electric TriFan 600 VTOL airplane, and are pleased to report that the preliminary aircraft design phase is ahead of schedule. XTI Aircraft anticipates at least 100 additional sale reservations, increasing their total number of preorders to over 300, representing almost $2 billion in prospective revenue. This aircraft will be an important component in Xeriant plan to further its position in AAM. We will be updating on XERI when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with XERI.

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Disclosure: we hold no position in  XERI either long or short and we have not been compensated for this article

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