Company: XERI
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001477932-25-001010
Chunk: 50

Company: XERIANT, INC.
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 2
Chunk 50
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3, respectively, a decrease of $53,159. 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 expenses were $95,113 for the six months ended December 31, 2024, compared to $890,074 for the six months ended December 31, 2023. The decrease of $794,961 was primarily due to recording the Auctus default interest in the prior period.

Net loss

Total net loss was $789,491 for the six months ended December 31, 2024, compared to $1,548,907 for the six months ended December 31, 2023, a decrease of $759,416. The decrease of $759,416 was primarily due to recording the Auctus default interest in the prior period.

Three months ended December 31, 2024 Results of Operations Compared with three months ended December 31, 2023 

  For the three months ended     December 31,    Variance   2024  2023  $            Operating expenses:         Consulting and advisory fees $36,137  $102,650  $(66,513)Related party consulting fees  128,000   77,000   51,000 General and administrative expenses  145,621   72,849   72,772 Professional fees  25,810   34,691   (8,881)Research and development expense  15   52,753   (52,738)Total operating expenses  335,583   339,943   (4,360)Operating loss  (335,583)  (339,943)  4,360              Other expenses:            Amortization of debt discount  (25,472)  -   (25,472)Interest expense  (51,379)  (846,654)  795,275 Loss on extinguishment of debt  (4,835)  (20,298)  15,463 Total other (expense)  (81,686)