Company: XERI
Filing Date: 2025-11-19
Form Type: 10-Q
Source: 0001477932-25-008494
Chunk: 11

Company: XERIANT, INC.
Filing Date: 2025-11-19
Form: 10-Q
Item: Part II, Item 8
Chunk 11
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IE in the condensed consolidated balance sheets. All significant intercompany balances and transactions have been eliminated in consolidation of the VIE. Xeriant. provided cash to the VIE to fund its operations. The carrying amounts of the consolidated VIE’s assets and liabilities associated with the VIE subsidiary were as follows:   Sept 30,2025  June 30,2025 Assets      Cash $-  $- Total Assets $-  $-          Liabilities        Due to Xeriant Inc. $4,475,155  $4,475,155 Total Liabilities $4,475,155  $4,475,155 

 F-14Table of Contents

NOTE 4 – CONCENTRATION OF CREDIT RISKS The Company maintains accounts with financial institutions. All cash in checking accounts is non-interest bearing and is fully insured by the Federal Deposit Insurance Corporation (FDIC). At times, cash balances may exceed the maximum coverage provided by the FDIC on insured depositor accounts. The Company believes it mitigates its risk by depositing its cash and cash equivalents with major financial institutions. On September 30, 2025, and June 30, 2025, the Company had $0 in excess of FDIC insurance (deposits in excess of $250,000, as calculated in accordance with FDIC regulations).

NOTE 5 – OPERATING LEASE RIGHT-OF-USE ASSET AND OPERATING LEASE LIABILITY On February 13, 2025, the Company executed an agreement to lease office space at 3651 FAU Boulevard, Suite 400, Boca Raton, FL 33431. The lease commencement date was March 1, 2025, and is a month-to-month term not to exceed twenty-four months. The rent is $399 per month.  The Company is electing to record as ROU since the Company intends to renew the month-to-month lease for the foreseeable future.  Operating lease right-of-use asset and liability are recognized at the present value of the future lease payments at the lease commencement date. The interest rate used to determine the present value is the Company’s incremental borrowing rate, estimated to be 10%, as the interest rate implicit in most of the Company’s leases is not readily determinable. Operating lease expense is recognized on a straight-line basis over the lease term. Since the common area maintenance expenses are expenses that do