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

Company: XERIANT, INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part II, Item 8
Chunk 25
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 allowance  (329,940 )  (483,251 )Net deferred income tax asset $—  $—    Three Months Ended   March 31, 2025  March 31, 2024        Tax credit (expense) at statutory rate (25%)  $132,567  $96,024 Increase in valuation allowance  (132,567 )  (96,024 )Net deferred income tax asset $—  $—  At March 31, 2025, and June 30, 2024, the significant components of the deferred tax assets are summarized below:    March 31,  June 30,   2025  2024        Net operating loss carry-forward   $7,007,169  $6,677,229 Valuation allowance    (7,007,169 )  (6,677,229 )Net deferred tax asset (liability)   $-  $-  As of March 31, 2025, and June 30, 2024, the Company had a federal net operating loss carryforward of $28,011,467 and $26,708,915, respectively. The federal net operating loss carryforwards do not expire but may only be used against taxable income to 80%. No tax benefit has been reported in the condensed consolidated financial statements. The annual offset of this carryforward loss against any future taxable profits may be limited under the provisions of Internal Revenue Code Section 381 upon any future change(s) in control of the Company.

NOTE 12 – SUBSEQUENT EVENTS None 

 F-23Table of Contents

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations 

The following discussion of our financial condition and results of operations should be read in conjunction with the audited and unaudited financial statements and the notes to those statements included elsewhere in this Report. This discussion contains forward-looking statements that involve risks and uncertainties. You should specifically consider the various risk factors identified in this Report that could cause actual results to differ materially from those anticipated in these forward-looking statements.

Forward-Looking Statements

This Quarterly Report on Form 10-Q contains forward-looking statements, including, without limitation, statements related to our plans, strategies, objectives, expectations, intentions and adequacy of resources. Investors are cautioned that such forward-looking