Company: XERI
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001477932-25-001010
Chunk: 37

Company: XERIANT, INC.
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 1
Chunk 37
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 increase of $76,818. 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.

 6Table of Contents

Professional Fees

Total professional fees were $89,616 and $125,005 for the six months ended December 31, 2024 and 2023, respectively, a decrease of $35,389. 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 expenses were $26,576 and $79,735 for the six months ended December 31 2024 and 2023, respectively, a decrease of $53,159. The primary reason for the decrease was increased testing and related travel costs in the prior period.

Other Income (Expenses)  

Total other expenses consist of amortization of debt discount, interest expense related to convertible notes, loss and gain on extinguishment of debt and change in fair value of the convertible bridge loans. Total other expenses were $95,113 for the six months ended December 31, 2024, compared to $890,074 for the six months ended December 31, 2023. The decrease of $794,961 was primarily due to recording the Auctus default interest in the prior period.

Net loss

Total net loss was $789,491 for the six months ended December 31, 2024, compared to $1,548,907 for the six months ended December 31, 2023, a decrease of $759,416. The decrease of $759,416 was primarily due to recording the Auctus default interest in the prior period.

Three months ended December 31, 2024 Results of Operations Compared with three months ended December 31, 2023 

  For the three months ended     December 31,    Variance   2024  2023  $            Operating expenses:         Consulting and advisory fees $36,137  $102,650  $(66,513)Related party consulting fees  128,000   77,000   51,000 General and administrative expenses  145,621   72,849   72,772 Professional fees  25,810   34,691