Company: XERI
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001477932-25-001010
Chunk: 109

Company: XERIANT, INC.
Filing Date: 2025-02-14
Form: 10-Q
Item: Part II, Item 8
Chunk 109
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  (95,113)  (890,074)  794,961 Net loss $(789,491) $(1,548,907) $759,416 

Consulting and advisory fees

Total consulting and advisory expenses were $125,120 and $154,345 for the six months ended December 31, 2024 and 2023, respectively, a decrease of $29,225. 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 $251,000 and $174,500 for the six months ended December 31, 2024 and 2023, respectively, an increase of $76,500. 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 $202,066 and $125,248 for the six months ended December 31, 2024 and 2023, respectively, an 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.

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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