Company: XERI
Filing Date: 2025-10-02
Form Type: 10-K
Source: 0001477932-25-007303
Chunk: 197

Company: XERIANT, INC.
Filing Date: 2025-10-02
Form: 10-K
Item: Item 1A
Chunk 197
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Granted  15,000,000  $0.01   3.00     Exercised  -             Canceled  (833,333 )            Outstanding at June 30, 2024  118,968,828  $0.09   2.50  $- Granted  7,900,000  $0.01   3.00     Exercised  -             Canceled  (15,300,000 )            Outstanding at June 30, 2025  111,568,828  $0.095   1.90  $- Vested at June 30, 2025  111,568,828  $0.095   1.90  $- Exercisable at June 30, 2025  111,568,828  $0.095   1.90  $- 

NOTE 10 – INCOME TAXES The Company did not provide any current or deferred US federal income tax provision or benefit for the years ending June 30, 2025 and 2024, as they incurred tax losses during both periods. When it is more likely than not that a tax asset cannot be realized through future income, the Company must record an allowance against any future potential future tax benefit. The Company has provided a full valuation allowance against the net deferred tax asset, consisting of net operating loss carry forwards, because management has determined that it is more likely than not that the Company will not earn income sufficient to realize the deferred tax assets during the carry forward periods. The Company has not taken a tax position that, if challenged, would have a material effect on the consolidated financial statements for the years ended June 30, 2025 and 2024 as defined under ASC 740, “Accounting for Income Taxes.” The provision for income taxes differs from the amount computed by applying the statutory federal income tax rate to income before provision for income taxes. The sources and tax effects of the differences for the periods presented are as follows:   Years ended    June 30, 2025  June 30, 2024 U.S. statutory federal income tax rate  21%  21%State income taxes, net of federal income tax  4%  4%Change in valuation