Company: XERI
Filing Date: 2025-11-19
Form Type: 10-Q
Source: 0001477932-25-008494
Chunk: 90

Company: XERIANT, INC.
Filing Date: 2025-11-19
Form: 10-Q
Item: Part I, Item 2
Chunk 90
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, 2025, the Company filed an Answer and Affirmative Defenses, essentially stating that Midland Compounding had not performed the services it was contracted to provide.

Except as set forth above, there is no pending litigation against the Company and to our knowledge no litigation is contemplated or threatened. To our knowledge, none of our directors, officers, 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.

Three Months Ended September 30, 2025, Results of Operations Compared with Three Months Ended September 30, 2024 

  For the three months ended      September 30,   September 30,       2025  2024  $ Operating expenses:         Consulting and advisory fees $67,200  $88,983  $(21,783 )Related party consulting fees  74,000   123,000   (49,000 )General and administrative expenses  24,912   56,445   (31,533 )Professional fees  83,997   63,806   20,191 Research and development expense  53,966   26,561   27,405 Total operating expenses  304,075   358,795   (54,720 )Operating loss  (304,075 )  (358,795 )  54,720              Other expenses:            Amortization of debt discount  (44,031 )  (16,802 )  (27,229 )Interest expense  (44,783 )  (61,617 )  16,834 Gain on extinguishment of debt  2,743,546   64,992   2,678,554 Total other (expense)  2,654,732   (13,427 )  2,668,159 Net loss $2,350,657  $(372,222 ) $2,722,879 

 6Table of Contents

Consulting and advisory fees

Total consulting and advisory expenses were $67,200 and $88,983 for the three months ended September 30, 2025 and 2024, respectively, a decrease of $21,783. The decrease was primarily related to non-recurring consulting fees