Company: XERI
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001477932-25-003761
Chunk: 22

Company: XERIANT, INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part II, Item 8
Chunk 22
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 challenging XTI’s filing of a Second Amended Answer and Counterclaims.  The court subsequently allowed XTI’s filing of a Second Amended Answer and Counterclaims, and Xeriant is in the process of responding.

 F-20Table of Contents

NOTE 10 – EQUITY Common Stock As of March 31, 2025, and June 30, 2024, the Company had 5,000,000,000 shares of common stock authorized with a par value of $0.00001. There were 681,131,059 and 524,853,304 shares issued and outstanding as of March 31, 2025, and June 30, 2024, respectively. Series A Preferred Stock There are 100,000,000 shares authorized as preferred stock, of which 3,500,000 are designated as Series A preferred stock having a par value of $0.00001 per share. The Series A preferred stock has the following rights:  ·Voting: The preferred shares shall be entitled to 1,000 votes to every one share of common stock.    ·Dividends: The Series A preferred stockholders are treated the same as the common stockholders except at the dividend on each share of Series A convertible preferred stock is equal to the amount of the dividend declared and paid on each share of common stock multiplied by the Conversion Rate.    ·Conversion: Each share of Series A Preferred Stock is convertible, at the option of the holder thereof, at any time into shares of Common Stock on a 1:1,000 basis.    ·The shares of Series A Preferred Stock are redeemable at the option of the Corporation upon not less than 30 days written notice to the holders. It is not mandatorily redeemable. As of March 31, 2025, and June 30, 2024, the Company had 672,116 and 705,895 shares of Series A preferred stock issued and outstanding, respectively. Series B Preferred Stock On March 25, 2021, the Certificate of Designation for the Series B Preferred was recorded by the State of Nevada. There are 100,000,000 shares authorized as preferred stock, of which 1,000,000 are designated as Series B Preferred Stock having a par value of $0.00001 per share. The Series B preferred stock is not convertible, grants 5,000 votes and no liquid