Company: XERI
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001477932-25-001010
Chunk: 31

Company: XERIANT, INC.
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 1
Chunk 31
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118,668,828 and 120,497,013 warrants outstanding. The warrants have a term of two to five years, and an exercise price range from $0.021 and $0.1187. The Company evaluated the warrants under ASC 815, Derivatives and Hedging (“ASC 815”) and determined that they did not require liability classification. The warrants were recorded in additional paid-in capital under their aggregate relative fair values. As of December 31, 2024, the weighted average remaining useful life of the warrants was 2.05. The warrants are detailed as follows:  Number of Warrants Number of Warrants  Weighted-AverageExercisePrice  Weighted-AverageContractualTerm(in years)  AggregateIntrinsicValue Outstanding at June 30, 2024  120,497,013  $0.09   2.50  $- Granted  -             Exercised  (1,528,185 )            Canceled  (300,000 )            Outstanding at December 31, 2024  118,668,828  $0.09   2.05  $- Vested at December 31, 2024  118,668,828  $0.09   2.05  $- Exercisable at December 31, 2024  118,668,828  $0.09   2.05  $- 

NOTE 11 – SUBSEQUENT EVENTS Litigation Against XTI Aircraft Company On February 29, 2024, Xeriant, Inc. (the “Company”) filed an Amended Complaint in the United States District Court for the Southern District of New York against XTI Aircraft Co. (“XTI”), the wholly owned and principal operating subsidiary of XTI Aerospace Inc. (Nasdaq: XTIA). alleging that XTI, engaged over a period of time in (1) intentional fraudulent conduct against Xeriant, (2) fraudulent concealment, (3) breach of contract, (4) quantum meruit, (5) unjust enrichment, (6) unfair competition, and (7) misappropriation of confidential information, and sought, among other things, damages in excess of $500 million.  XTI moved before the Court on March 13, 2024,