Company: XERI
Filing Date: 2025-10-02
Form Type: 10-K
Source: 0001477932-25-007303
Chunk: 222

Company: XERIANT, INC.
Filing Date: 2025-10-02
Form: 10-K
Item: Item 1B
Chunk 222
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(225,566 )  (1,183,885 )  (958,319 )Loss on extinguishment of debt  (4,835)  (20,298 )  15,463 Gain on extinguishment of debt  -   28,627   28,627 Change in fair value of convertible bridge loans  -   (2,448 )  (2,448 )Total other (expense)  (281,407 )  (1,197,193 )  884,860 Net loss $(1,646,898 ) $(3,103,101 ) $1,456,203 

 32Table of Contents

Consulting and advisory fees

Total consulting and advisory expenses were $327,991 and $731,128 for the years ended June 30, 2025 and 2024, respectively, a decrease of $403,137. The primary reason for the decrease was there were increased expenses due to stock issuances for advisory board and legal services in the amount of $374,906 in the prior period.

Related Party Consulting Fees

Total related party consulting fees were $438,000 and $388,000 for the years ended June 30, 2025 and 2024, respectively, an increase of $50,000. In addition to the consulting agreement amounts, the Company will pay additional consulting fees to related parties when the Company has increased available funds. In the current period, the Company had increased funds to pay  consulting fees. 

General and administrative expenses

Total general and administrative expenses were $309,107 and $282,249 for the years ended June 30, 2025 and 2024, respectively, an increase of $26,858. The primary reason for the increase was increased expenses related to our subsidiary BlueGreen Composites, LLC. Expenses for BlueGreen Composites, LLC, relate to  testing and business development costs for the Company’s advanced materials operations. 

Professional Fees

Total professional fees were $221,119 and $308,109 for the years ended June 30, 2025 and 2024, respectively, a decrease of $86,990. The primary reason for the decrease was higher auditing fees relating to change in audit firms and excess fees charged by prior firm and higher legal costs in the prior period.

Research and Development Expenses

Total research and development expenses were $69,274 and $196,422 for