Company: XERI
Filing Date: 2025-10-02
Form Type: 10-K
Source: 0001477932-25-007303
Chunk: 392

Company: XERIANT, INC.
Filing Date: 2025-10-02
Form: 10-K
Item: Item 3
Chunk 392
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 provide.  To our knowledge, none of our directors, officers, five (5%) shareholders or affiliates are party to any legal proceedings that would have a material adverse effect on our business, financial condition, or operating results.

 31Table of Contents

Fiscal Year 2025 Results of Operations Compared with Fiscal Year 2024 

  For the years ended     June 30, 2025  June 30, 2024  $            Operating expenses:         Consulting and advisory fees $327,991  $731,128  $(403,137 )Related party consulting fees  438,000   388,000   50,000 General and administrative expenses  309,107   282,249   26,858 Professional fees  221,119   308,109   (86,990 )Research and development expense  69,274   196,422   (127,148 )Total operating expenses  1,365,491   1,905,908   (540,417 )Operating loss  (1,365,491 )  (1,905,908 )  540,417              Other expenses:            Amortization of debt discount  (51,006 )  (19,189 )  31,817 Interest expense  (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