Company: XERI
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001477932-25-003761
Chunk: 9

Company: XERIANT, INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part II, Item 8
Chunk 9
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 the weighted average number of shares of common stock outstanding for the periods presented. Diluted net loss per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that would then share in the income of the Company, subject to anti-dilution limitations. The following potential common shares were excluded from the calculation of diluted net income (loss) per share available to common stockholders because their effect would have been antidilutive:   Three and Nine months ended March 31,   2025  2024 Warrants  103,968,828   118,968,828 Stock options  -   21,250,000 Convertible notes payable  830,323,260   823,528,347 Preferred stock  672,116,000   733,895,000 Total  1,606,408,088   1,697,642,175  Segment Reporting We have determined that we have one reportable segment, which includes discovery, development and commercialization of disruptive technologies in advanced materials and aerospace which can be successfully integrated and commercialized for deployment across multiple industrial sectors. The single segment was identified based on how the Chief Operating Decision Maker, who we have determined to be our Chief Executive Officer, manages and evaluates performance and allocates resources.  Recent Accounting Pronouncements All other recent accounting pronouncements issued by the Financial Accounting Standards Board, did not or are not believed by management to have a material impact on the Company’s present or future unaudited condensed consolidated financial statements.  

NOTE 3 – JOINT VENTURE Joint Venture with XTI Aircraft Effective May 31, 2021, Xeriant entered into a Joint Venture with XTI Aircraft Company (“XTI”), named Eco-Aero, LLC, with the purpose of completing the preliminary design review (“PDR”) of XTI’s eVTOL fixed wing aircraft. XTI and the Company each own 50 percent of the XTI JV, and it is managed by a management committee consisting of five members, three appointed by Xeriant and two by XTI. The Company invested approximately $5.5 million into the joint venture after borrowing the funds from Auctus Fund LLC (“Auctus”) through a Senior Secured Promissory Note, through an introduction from Maxim Group, LLC, the Company’s investment