Xeriant, Inc. Press Conference Updates and Expected Upcoming Catalysts
Xeriant, Inc. (OTCQB: XERI) announced a series of positive developments in a recent video conference. Notably, a joint venture with Movychem has generated a Letter of Intent with Next New Concept for Retacell wall panels, projected to exceed $100 million in revenue starting in 2023. The joint venture with XTI Aircraft has led to qualified preorders of over $3 billion for the TriFan 600. Additionally, Xeriant aims for a NASDAQ uplist by year-end and is testing new fire-resistant wall panels. The company is actively engaging manufacturers to support production capabilities.
- Joint venture with Movychem has led to a Letter of Intent with Next New Concept, estimated to generate over $100 million in revenue in 2023.
- TriFan 600 achieved FAA milestone with over $3 billion in preorders.
- Xeriant aims for NASDAQ uplist by the end of the year.
- None.
BOCA RATON, Fla., Aug. 04, 2022 (GLOBE NEWSWIRE) -- Xeriant, Inc. (OTCQB: XERI), an aerospace company dedicated to Advanced Air Mobility and associated specialty chemicals and materials, released a video conference yesterday with an update on recent Company events.
Please find a summary of the highlights below:
- The Joint Venture signed with Movychem in April has already yielded its first major Letter of Intent with Next New Concept (“NNC”), an innovator in environmentally friendly, quickly constructed building systems for affordable quality housing, to purchase Xeriant’s Retacell-based wall panels, which is anticipated to generate over
$100 million in revenue beginning in 2023; - The Senior Secured Note was extended for the completion of the acquisition of XTI Aircraft and the uplist of the Company’s common stock to a national securities exchange;
- The Joint Venture with XTI successfully enabled the TriFan 600 to accomplish its first major FAA milestone, and now has qualified preorders exceeding
$3 billion ; - The new Retacell-based fire- and water-resistant wall panel made from recycled materials such as plastic and cardboard waste is being tested and certified;
- Several large national and multinational companies are in the process of testing Retacell for use in various plastics, textiles, and wood-based applications;
- To meet demand for the Retacell-based wall panels, Xeriant met with manufacturers of specialty machinery needed to produce Retacell and Retacell-based wall panels required to launch U.S. operations; and
- Xeriant continues to push for an uplist to NASDAQ before the end of the year.
List of Presenters:
- Brigadier General Blaine D. Holt (Ret.) - Senior Advisor at Xeriant, formerly second highest ranking military official in the U.S. delegation to NATO, President of Million Air and American Jet International, and CEO of Alchemai, a leading-edge software company that uses AI technology and predictive analytics to manage supply chain risk in the defense, commercial and non-profit sectors;
- Michael Hinderberger - CEO of XTI Aircraft (Joint Venture partner with Xeriant), held senior positions with Aerion, Gulfstream, Rolls Royce, Honeywell, and Piper Aircraft;
- Michael Niemann - CEO of Next New Concept, Inc., honored by Builder Magazine as one of the HIVE 50: “The Best Ideas & Innovators in Housing” for HercuWall®, a panelized, hurricane-rated wall system, which included breakthrough technology that he invented and marketed. Next New Concept is working on major global development projects using its new NNC™ building system, starting with 35,000 homes;
- David Zajac – Managing Director of Xeriant’s Advanced Chemicals and Materials Division, formerly with PPG Industries where he was General Manager of its Architectural Coatings Division which included Pittsburgh Paints, Lucite Paints and Olympic Stains; and President, CEO and Founder of a building materials manufacturer with products sold worldwide, including to major home improvement retailers;
- Martin Stloukal - CEO of Xeriant’s advanced materials Joint Venture with Movychem, which is based in Slovakia;
- Keith Duffy – CEO of Xeriant, Inc.; and
- Ted DeFeudis – Director of Xeriant, Inc.
The video conference was held at the Florida Atlantic University and can be seen at https://www.xeriant.com/august-2022-press-conference.
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About Next New Concept, Inc.
Next New Concept, Inc. (NNC™ branded) is a vertically integrated design, marketing, manufacturing, and sub-contractor construction company launching its patent pending, whole house alternative to wood frame construction. NNC™ teams deliver, assemble, and construct each new building envelope on build-ready slabs or foundations, serving as the SINGLE SOURCE product manufacturer and SINGLE SOURCE framing and insulation subcontractor. The NNC WHOLE HOUSE SOLUTION includes panelized exterior insulated walls, interior walls, trusses, and insulated roof deck; based on the Company’s patent pending structural aluminum building system.
For more information, please go to www.nextnewconcept.com
About Xeriant, Inc.
Xeriant, Inc. (d.b.a. Xeriant Aerospace) is an aerospace company 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.
For more information, please go to www.xeriant.com
SAFE HARBOR FORWARD-LOOKING STATEMENTS
In connection with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, Xeriant, Inc. is hereby providing cautionary statements identifying important factors that could cause our actual results to differ materially from those projected in forward-looking statements (as defined in such act). Any statements that are not historical facts and that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, indicated through the use of words or phrases such as “will likely result,” “are expected to,” “will continue,” “is anticipated,” “estimated,” “intends,” “plans,” “believes” and “projects”) may be forward-looking and may involve estimates and uncertainties which could cause actual results to differ materially from those expressed in the forward-looking statements. These statements include, but are not limited to, our expectations concerning our ability to attract investors.
We caution that the factors described herein could cause actual results to differ materially from those expressed in any forward-looking statements we make, and investors should not place undue reliance on any such forward-looking statements. Further, any forward-looking statement speaks only as of the date on which such statement is made, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of anticipated or unanticipated events or circumstances. New factors emerge from time to time, and it is not possible for us to predict all such factors. Further, we cannot assess the impact of each such factor on our results of operations or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements.
This press release does not constitute an offer of any securities for sale.
Xeriant, Inc.
Investor Relations Dept.:
(561) 491-9595
IR@xeriant.com
www.xeriant.com
FAQ
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