Company: XERI
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001477932-25-001010
Chunk: 38

Company: XERIANT, INC.
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 1
Chunk 38
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 (8,881)Research and development expense  15   52,753   (52,738)Total operating expenses  335,583   339,943   (4,360)Operating loss  (335,583)  (339,943)  4,360              Other expenses:            Amortization of debt discount  (25,472)  -   (25,472)Interest expense  (51,379)  (846,654)  795,275 Loss on extinguishment of debt  (4,835)  (20,298)  15,463 Total other (expense)  (81,686)  (866,952)  785,266 Net loss $(417,269) $(1,206,895) $789,626 

 7Table of Contents

Consulting and advisory fees

Total consulting and advisory expenses were $36,137 and $102,650 for the three months ended December 31, 2024 and 2023, respectively, a decrease of $66,513. In the prior period, there were increased expenses due to stock issuances for services relating to advisory agreements. 

Related Party Consulting Fees

Total related party consulting fees were $128,000 and $77,000 for the three months ended December 31, 2024 and 2023, respectively, an increase of $51,000. The primary reason for the increase was increased available funds. Payments to related parties are variable based upon Company’s ability to make payments.

General and administrative expenses

Total general and administrative expenses were $145,621 and $72,849 for the three months ended December 31, 2024 and 2023, respectively, an increase of $72,772. The primary reason for the increase was increased expenses related to our subsidiary BlueGreen Composites, LLC. Expenses for BlueGreen Composites, LLC, relate to research, testing and business development costs for the Company’s advanced materials operations.

Professional Fees

Total professional fees were $25,810 and $34,691 for the three months ended December 31, 2024 and 2023, respectively a decrease of $8,881. The primary reason for the decrease was higher auditing fees and legal costs associated with a patent in the prior period.

Research and Development Expenses

Total research and development