Company: XERI
Filing Date: 2025-10-02
Form Type: 10-K
Source: 0001477932-25-007303
Chunk: 684

Company: XERIANT, INC.
Filing Date: 2025-10-02
Form: 10-K
Item: Item 8
Chunk 684
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30,   2025  2024        Net operating loss carry-forward $7,084,652  $6,677,229 Valuation allowance  (7,084,652 )  (6,677,229 )Net deferred tax asset (liability) $-  $-  As of June 30, 2025 and 2024, the Company had a federal net operating loss carryforward of $28,338,606 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 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 11 – SUBSEQUENT EVENTS Litigation  On July 2, 2025, the Company was served with a complaint from Midland Compounding for breach of contract in the payment of an invoice in the amount of $57,600 related to a purchase order for consulting services related to improving the Company’s intumescent fire-retardant layer for NEXBOARD.  On August 20, 2025, the Company filed an Answer and Affirmative Defenses, essentially stating that Midland Compounding had not performed the services it was contracted to provide.  Stock Issuances  On July 8, 2025, the Company issued 2,673,077 common shares for services. On July 15, 2025, the Company issued 5,500,000 common shares that were converted from a convertible note with a principal amount of $50,000 and accrued interest of $5,000. On August 11, 2025, the Company issued 5,000,000 common shares that were converted from 5,000 Series A preferred shares. On August 20, 2025, the Company issued 7,700,000 common shares that were converted from a convertible note with a principal amount of $70,000 and accrued interest of $7,000. On September 8, 2025, the Company issued 10,000,000 common shares that were converted from 10,000 Series A preferred shares. 

 F-23Table of Contents

On September 10, 202