Company: XERI
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001477932-25-001010
Chunk: 36

Company: XERIANT, INC.
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 1
Chunk 36
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  $           Operating expenses:         Consulting and advisory fees $125,120  $154,345  $(29,225)Related party consulting fees  251,000   174,500   76,500 General and administrative expenses  202,066   125,248   76,818 Professional fees  89,616   125,005   (35,389)Research and development expense  26,576   79,735   (53,159)Total operating expenses  694,378   658,833   35,545 Operating loss  (694,378)  (658,833)  (35,545)             Other expenses:            Amortization of debt discount  (42,274)  -   (42,274)Interest expense  (112,996)  (867,328)  754,332 Loss on extinguishment of debt  (4,835)  (20,298)  15,463 Gain on extinguishment of debt  64,992   -   64,992 Change in fair value of convertible bridge loans  -   (2,448)  2,448 Total other (expense)  (95,113)  (890,074)  794,961 Net loss $(789,491) $(1,548,907) $759,416 

Consulting and advisory fees

Total consulting and advisory expenses were $125,120 and $154,345 for the six months ended December 31, 2024 and 2023, respectively, a decrease of $29,225. In the prior period, there were increased expenses due to stock issuances for services relating to advisory agreements. 

Related Party Consulting Fees

Total related party consulting fees were $251,000 and $174,500 for the six months ended December 31, 2024 and 2023, respectively, an increase of $76,500. The primary reason for the increase was increased available funds. Payments to related parties are variable based upon Company’s ability to make payments.

General and administrative expenses

Total general and administrative expenses were $202,066 and $125,248 for the six months ended December 31, 2024 and 2023, respectively, an