Company: XERI
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001477932-25-003761
Chunk: 79

Company: XERIANT, INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 79
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 (20,298)  80,455 Change in fair value of convertible bridge loans  -   (2,448)  2,448 Total other (expense)  (166,463)  (921,206)  754,743 Net loss $(1,319,759) $(1,933,003) $613,244 

Consulting and advisory fees

Total consulting and advisory expenses were $266,720 and $193,995 for the nine months ended March 31, 2025 and 2024, respectively, an increase of $72,725. In the current period, there were increased expenses for advisory board members due to new and restructured agreements.

Related Party Consulting Fees

Total related party consulting fees were $364,500 and $264,000 for the nine months ended March 31, 2025 and 2024, respectively, an increase of $100,500. In addition to the consulting agreement amounts, the Company will pay additional consulting fees to related parties when the Company has increased available funds. In the current period, the Company had increased funds to pay additional consulting fees.

General and administrative expenses

Total general and administrative expenses were $304,153 and $193,557 for the nine months ended March 31, 2025 and 2024, respectively, an increase of $110,596. The primary reason for the increase was increased expenses related to our subsidiary BlueGreen Composites, LLC. Expenses for BlueGreen Composites, LLC, relate to research, testing and business development costs for the Company’s advanced materials operations.

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Professional Fees

Total professional fees were $161,123 and $212,986 for the nine months ended March 31, 2025 and 2024, respectively, a decrease of $51,863. The primary reason for the decrease was higher auditing fees and legal costs.

Research and Development Expenses

Total research and development expenses were $56,800 and $147,259 for the nine months ended March 31 2025 and 2024, respectively, a decrease of $90,459. The primary reason for the decrease was increased testing and related travel costs in the prior period.

Other Income (Expenses)  

Total other expenses consist of amortization of debt discount, interest expense related to convertible notes, loss and gain on extinguishment of debt and change in fair value of the convertible bridge loans. Total other