Company: XERI
Filing Date: 2025-10-02
Form Type: 10-K
Source: 0001477932-25-007303
Chunk: 255

Company: XERIANT, INC.
Filing Date: 2025-10-02
Form: 10-K
Item: Item 1B
Chunk 255
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, 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 allowance (25%) (25%)Effective income tax rate  0%  0%

 F-22Table of Contents

A reconciliation of the income taxes computed at the statutory rate is as follows:   Years ended   June 30, 2025  June 30, 2024        Tax credit (expense) at statutory rate (25%) $407,423  $767,614 Increase in valuation allowance  (407,423 )  (767,614 )Net deferred income tax asset $—  $—  At June 30, 2025 and 2024, the significant components of the deferred tax assets are summarized below:   June 30,  June 30,   2025  2024        Net operating loss carry-forward $7,084,652  $6,677,229 Valuation allowance  (7,084,652 )  (6,677,229 )Net deferred tax asset (liability) $-  $-  As of June 30, 2025 and 2024, the Company had a federal net operating loss carryforward of $28,338,606 and $26,708,915, respectively. The federal net operating loss carryforwards do not expire but may only be used against taxable income to 80%. No tax benefit has been reported in the consolidated financial statements. The annual offset of this carryforward loss against any future taxable profits may be limited under the provisions of Internal Revenue Code Section 381 upon any future change(s) in control of the Company.

NOTE 11 – SUBSEQUENT EVENTS Litigation  On July 2, 2025, the Company was served with a complaint from Midland Compounding for breach of contract in the payment of an