Company: XERI
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001477932-25-001010
Chunk: 98

Company: XERIANT, INC.
Filing Date: 2025-02-14
Form: 10-Q
Item: Part II, Item 8
Chunk 98
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 to Pablo Lavigna. As of December 31, 2024, and June 30, 2024, $10,500 and $0 was accrued, respectively. During the six months ended December 31, 2024 and 2023, the Company recorded $25,000 and $10,000 respectively, in consulting fees to Keystone Business Development Partners, a Company owned by the Company’s CFO, Brian Carey. During the three months ended December 31, 2024 and 2023, the Company recorded $15,000 and $5,000 respectively, in consulting fees to Keystone Business Development Partners. As of December 31, 2024, and June 30, 2024, $0 and $5,000 was accrued, respectively. The above transactions are not necessarily what third parties would agree to.

NOTE 9 – COMMITMENTS AND CONTINGENCIES During the normal course of business, the Company may be exposed to litigation. When the Company becomes aware of potential litigation, it evaluates the merits of the case in accordance with FASB ASC 450-20-50, Contingencies. The Company evaluates its exposure to the matter, possible legal or settlement strategies and the likelihood of an unfavorable outcome. If the Company determines that an unfavorable outcome is probable and can be reasonably estimated, it establishes the necessary accruals. Board of Advisors Agreements The Company has entered into Advisor Agreements with various advisory board members. The agreements provide for the following: On July 1, 2021, the Company agreed to issue to an advisor 100,000 common shares, and $2,500 per meeting paid in cash, common shares, or a combination, an additional bonus of $25,000 paid in common shares issued at the end of each year of service, an option to purchase 5,000,000 common shares at $0.12 per share, vesting quarterly over 24 months, and for each of the following three years (beginning July 1, 2022), an option to purchase an additional 1,000,000 common shares per year thereafter at a 25% discount to the average market price for the preceding 10 trading days. The agreement also provides for a 1% finder’s fee. On July 6, 2021, the Company provided an option to an advisor to purchase 5,000,000 common shares at $0.