2023 Q1 Form 10-Q Financial Statement

#000147793223001086 Filed on February 16, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2021 Q4
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $240.8K $342.5K $1.167M
YoY Change -70.82% -70.65% 9.61%
% of Gross Profit
Research & Development $0.00 $0.00 $2.860M
YoY Change -100.0% -100.0%
% of Gross Profit
Depreciation & Amortization $380.00 $370.00 $80.00
YoY Change 52.0% 362.5%
% of Gross Profit
Operating Expenses $387.2K $539.0K $4.260M
YoY Change -63.84% -87.35% 280.11%
Operating Profit -$387.2K -$539.0K -$4.260M
YoY Change -63.84% -87.35% 280.11%
Interest Expense $0.00 $0.00 $1.625K
YoY Change -100.0% -100.0% 42.67%
% of Operating Profit
Other Income/Expense, Net -$2.498K -$755.3K -$1.267M
YoY Change -99.86% -40.36% 1643.76%
Pretax Income -$389.7K -$1.294M -$5.526M
YoY Change -86.1% -76.58% 363.11%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$369.1K -$1.294M -$5.526M
YoY Change -86.84% -76.58% 363.11%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share $0.00 $0.00 -$9.891K
COMMON SHARES
Basic Shares Outstanding 376.9M shares 366.7M shares 322.6M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2023 Q1 2022 Q4 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $104.1K $227.5K $2.111M
YoY Change -93.85% -89.22% 10646.18%
Cash & Equivalents $104.1K $119.6K $2.111M
Short-Term Investments $107.9K
Other Short-Term Assets $14.75K $23.07K $15.37K
YoY Change 2.86% 50.1% 12.85%
Inventory
Prepaid Expenses $2.200K $10.52K $2.823K
Receivables
Other Receivables
Total Short-Term Assets $118.8K $250.6K $2.126M
YoY Change -93.04% -88.21% 6291.82%
LONG-TERM ASSETS
Property, Plant & Equipment $5.885K $6.263K $4.907K
YoY Change -70.06% 27.63% -97.39%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $153.8K
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $254.4K $112.5K $154.2K
YoY Change 60.4% -27.05% -18.02%
TOTAL ASSETS
Total Short-Term Assets $118.8K $250.6K $2.126M
Total Long-Term Assets $254.4K $112.5K $154.2K
Total Assets $373.3K $363.1K $2.280M
YoY Change -80.0% -84.08% 929.96%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $189.3K $158.0K $23.74K
YoY Change 457.42% 565.37% -20.87%
Accrued Expenses $86.17K $114.7K $30.00K
YoY Change 187.23% 282.17% -49.34%
Deferred Revenue
YoY Change
Short-Term Debt $6.036M $5.850M $721.1K
YoY Change 160.19% 711.31% 3035.04%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $6.386M $6.198M $820.5K
YoY Change 164.07% 655.35% 652.77%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $50.88K $66.94K $117.6K
YoY Change -56.73% -43.07% -28.0%
Total Long-Term Liabilities $50.88K $66.94K $117.6K
YoY Change -56.73% -43.07% -28.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.386M $6.198M $820.5K
Total Long-Term Liabilities $50.88K $66.94K $117.6K
Total Liabilities $6.437M $6.265M $938.1K
YoY Change 153.83% 567.81% 244.5%
SHAREHOLDERS EQUITY
Retained Earnings -$23.03M -$22.67M -$10.03M
YoY Change 79.55% 126.01%
Common Stock $3.819K $3.769K $3.577K
YoY Change 5.12% 5.37%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$3.245M -$3.089M $1.342M
YoY Change
Total Liabilities & Shareholders Equity $373.3K $363.1K $2.280M
YoY Change -80.0% -84.08% 929.96%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2021 Q4
OPERATING ACTIVITIES
Net Income -$369.1K -$1.294M -$5.526M
YoY Change -86.84% -76.58% 363.11%
Depreciation, Depletion And Amortization $380.00 $370.00 $80.00
YoY Change 52.0% 362.5%
Cash From Operating Activities -$93.25K -$378.5K -$3.285M
YoY Change -76.81% -88.48% 3701.5%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00 -$4.990K
YoY Change -100.0% -100.0%
Acquisitions
YoY Change
Other Investing Activities -$192.3K
YoY Change
Cash From Investing Activities -$192.3K $0.00 -$4.990K
YoY Change 1181.73% -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 270.0K 0.000 5.119M
YoY Change -100.0% 7898.36%
NET CHANGE
Cash From Operating Activities -93.25K -378.5K -3.285M
Cash From Investing Activities -192.3K 0.000 -4.990K
Cash From Financing Activities 270.0K 0.000 5.119M
Net Change In Cash -15.51K -378.5K 1.829M
YoY Change -96.28% -120.7% -8256.56%
FREE CASH FLOW
Cash From Operating Activities -$93.25K -$378.5K -$3.285M
Capital Expenditures $0.00 $0.00 -$4.990K
Free Cash Flow -$93.25K -$378.5K -$3.280M
YoY Change -75.91% -88.46%

Facts In Submission

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dei Current Fiscal Year End Date
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dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2023
dei Document Type
DocumentType
10-Q
dei Document Quarterly Report
DocumentQuarterlyReport
true
dei Document Transition Report
DocumentTransitionReport
false
dei Entity Central Index Key
EntityCentralIndexKey
0001481504
dei Amendment Flag
AmendmentFlag
false
CY2022Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.00001
CY2022Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
5000000000 shares
CY2022Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
376933144 shares
CY2022Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
364239001 shares
CY2022Q2 us-gaap Common Stock No Par Value
CommonStockNoParValue
0.00001
dei Document Period End Date
DocumentPeriodEndDate
2022-12-31
dei Entity File Number
EntityFileNumber
000-54277
dei Entity Registrant Name
EntityRegistrantName
XERIANT, INC.
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
NV
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
27-1519178
dei Entity Address Address Line1
EntityAddressAddressLine1
Innovation Centre 1
dei Entity Address Address Line2
EntityAddressAddressLine2
3998 FAU Boulevard, Suite 309
dei Entity Address City Or Town
EntityAddressCityOrTown
Boca Raton
dei Entity Address State Or Province
EntityAddressStateOrProvince
FL
dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
33431
dei City Area Code
CityAreaCode
561
dei Local Phone Number
LocalPhoneNumber
491-9595
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
dei Entity Small Business
EntitySmallBusiness
true
dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
dei Entity Shell Company
EntityShellCompany
false
CY2023Q1 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
376933144 shares
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
119593 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1065945 usd
CY2022Q4 us-gaap Investments
Investments
107928 usd
CY2022Q2 us-gaap Investments
Investments
57678 usd
CY2022Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
10515 usd
CY2022Q4 us-gaap Assets Current
AssetsCurrent
250582 usd
CY2022Q2 us-gaap Assets Current
AssetsCurrent
1136925 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
6263 usd
CY2022Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
4409 usd
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
106239 usd
CY2022Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
128342 usd
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
50647 usd
CY2022Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
48963 usd
CY2022Q4 us-gaap Liabilities Current
LiabilitiesCurrent
6197803 usd
CY2022Q2 us-gaap Liabilities Current
LiabilitiesCurrent
4139184 usd
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
66938 usd
CY2022Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
92197 usd
CY2022Q4 us-gaap Liabilities
Liabilities
6264741 usd
CY2022Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.00001
CY2022Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
5000000000 shares
CY2022Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
376933144 shares
CY2022Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
365239001 shares
CY2022Q4 xeri Common Stock To Be Issued
CommonStockToBeIssued
51950 usd
CY2022Q4 us-gaap Common Stock Value
CommonStockValue
3769 usd
CY2022Q2 us-gaap Common Stock Value
CommonStockValue
3637 usd
CY2022Q4 us-gaap Cash
Cash
119593 usd
CY2022Q2 us-gaap Cash
Cash
1065945 usd
CY2022Q4 xeri Working Capital
WorkingCapital
-5947221 usd
CY2022Q2 xeri Working Capital
WorkingCapital
-3002259 usd
us-gaap Net Income Loss
NetIncomeLoss
-6111883 usd
us-gaap Net Income Loss
NetIncomeLoss
-9974398 usd
us-gaap Use Of Estimates
UseOfEstimates
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The most significant assumptions and estimates relate to the valuation of beneficial conversion features and warrants associated with convertible debt. Actual results could differ from these estimates.</p>
CY2022 us-gaap Debt Instrument Convertible Beneficial Conversion Feature
DebtInstrumentConvertibleBeneficialConversionFeature
2615419 usd
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
0 usd
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
5200219 usd
us-gaap Advertising Expense
AdvertisingExpense
21421 usd
us-gaap Advertising Expense
AdvertisingExpense
164713 usd
xeri Profit Losses
ProfitLosses
-6097151 usd
xeri Profit Losses
ProfitLosses
-6759529 usd
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
369415435 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
328392903 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
369415435 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
328392903 shares
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.02
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.02
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.02
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.02
us-gaap Cash Acquired In Excess Of Payments To Acquire Business
CashAcquiredInExcessOfPaymentsToAcquireBusiness
0 usd
CY2022 us-gaap Cash Acquired In Excess Of Payments To Acquire Business
CashAcquiredInExcessOfPaymentsToAcquireBusiness
811429 usd
us-gaap Subordinated Borrowing Interest Rate
SubordinatedBorrowingInterestRate
0.10 pure
CY2022Q4 us-gaap Prepaid Rent
PrepaidRent
4659 usd
CY2022Q4 xeri Right Of Use Asset Office Lease
RightOfUseAssetOfficeLease
220448 usd
CY2022Q4 xeri Right Of Use Asset Accumulated Amortization
RightOfUseAssetAccumulatedAmortization
-114209 usd
CY2022Q4 xeri Operating Lease Right Of Use Assets1
OperatingLeaseRightOfUseAssets1
106239 usd
CY2022Q4 xeri Office Leas
OfficeLeas
117585 usd
CY2022Q4 xeri Operating Lease Liability Current Portion
OperatingLeaseLiabilityCurrentPortion
-50647 usd
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
66938 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
30491 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
62201 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
37112 usd
CY2022Q4 xeri Lease Liabilities Gross
LeaseLiabilitiesGross
129803 usd
CY2022Q4 xeri Present Value Discount
PresentValueDiscount
-12218 usd
CY2022Q4 xeri Operating Lease Liabilities
OperatingLeaseLiabilities
117585 usd
CY2022Q4 us-gaap Debt Instrument Convertible Carrying Amount Of The Equity Component
DebtInstrumentConvertibleCarryingAmountOfTheEquityComponent
5850000 usd
CY2022Q2 us-gaap Debt Instrument Convertible Carrying Amount Of The Equity Component
DebtInstrumentConvertibleCarryingAmountOfTheEquityComponent
3936185 usd
CY2022Q4 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
5850000 usd
CY2022Q2 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
6050000 usd
CY2022Q4 xeri Less Unamortized Discount
LessUnamortizedDiscount
0 usd
CY2022Q2 xeri Less Unamortized Discount
LessUnamortizedDiscount
-2113815 usd
CY2022Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
5850000 usd
CY2022Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
3936185 usd
xeri Schedule Of Loss On Extinguishment On Convertible Debt Instrument
ScheduleOfLossOnExtinguishmentOnConvertibleDebtInstrument
<table cellpadding="0" style="border-spacing:0;text-align:left;font:10pt times new roman;width:100%"><tbody><tr style="height:15px"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px"><strong>Reacquisition Price:</strong></p></td><td style="width:1%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td colspan="2" style="width:9%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td colspan="2" style="width:9%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">Modified convertible debt instrument </p></td><td style="width:1%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td colspan="2" style="width:9%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:9%;vertical-align:bottom;text-align:right;">5,950,000</td><td style="width:1%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#ffffff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">Fair value of warrants </p></td><td style="width:1%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td colspan="2" style="width:9%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:9%;vertical-align:bottom;text-align:right;">1,918,393</td><td style="width:1%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">Cash payment </p></td><td style="width:1%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td colspan="2" style="width:9%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:9%;vertical-align:bottom;text-align:right;">100,000</td><td style="width:1%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#ffffff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px"><strong>Carrying Value of Original Instrument</strong></p></td><td style="width:1%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td colspan="2" style="width:9%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:9%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">Original convertible debt instrument </p></td><td style="width:1%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:9%;vertical-align:bottom;text-align:right;">6,050,000</td><td style="width:1%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:9%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#ffffff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">Debt discount - warrant </p></td><td style="width:1%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:9%;vertical-align:bottom;text-align:right;">(707,585</td><td style="width:1%;vertical-align:bottom;">)</td><td style="width:1%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:9%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">Original issue discount </p></td><td style="width:1%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:9%;vertical-align:bottom;text-align:right;">(341,692</td><td style="width:1%;vertical-align:bottom;">)</td><td style="width:1%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:9%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#ffffff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">Debt discount - BCF </p></td><td style="width:1%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:9%;vertical-align:bottom;text-align:right;">(602,696</td><td style="width:1%;vertical-align:bottom;">)</td><td style="width:1%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:9%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">Carrying value of original debt </p></td><td style="width:1%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:9%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: 1px solid;width:1%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">4,398,027</td><td style="PADDING-BOTTOM: 1px;width:1%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#ffffff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> Loss on extinguishment </p></td><td style="width:1%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:9%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:9%;vertical-align:bottom;text-align:right;">3,570,366</td><td style="width:1%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr></tbody></table><table cellpadding="0" style="border-spacing:0;text-align:left;font:10pt times new roman;width:100%"><tbody><tr style="height:15px"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px"><strong>Reacquisition Price:</strong></p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" colspan="2" style="width:9%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">Modified convertible debt instrument </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">5,850,000</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#ffffff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">Fair value of warrants </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">689,621</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">Accrued Short-term Liability</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">100,000</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#ffffff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px"><strong>Carrying Value of Original Instrument</strong></p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:9%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">Carrying value of original debt </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">5,950,000</td><td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#ffffff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> Loss on extinguishment </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">689,621</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr></tbody></table>
xeri Reacquisition Price Of Modified Convertible Debt Instrument
ReacquisitionPriceOfModifiedConvertibleDebtInstrument
5950000 usd
xeri Reacquisition Price Of Fair Value Of Warrants
ReacquisitionPriceOfFairValueOfWarrants
1918393 usd
xeri Reacquisition Price Of Cash Payment
ReacquisitionPriceOfCashPayment
100000 usd
CY2022Q4 xeri Original Convertible Debt Instrument Carrying Value
OriginalConvertibleDebtInstrumentCarryingValue
6050000 usd
CY2022Q4 xeri Debt Discount Warrant Carrying Value
DebtDiscountWarrantCarryingValue
707585 usd
CY2022Q4 xeri Original Issue Discount Carrying Value
OriginalIssueDiscountCarryingValue
341692 usd
CY2022Q4 xeri Debt Discount Bcf Carrying Value
DebtDiscountBcfCarryingValue
602696 usd
CY2022Q4 xeri Carrying Value Of Original Debt
CarryingValueOfOriginalDebt
4398027 usd
xeri Gains Losses On Extinguishment Of Debt1
GainsLossesOnExtinguishmentOfDebt1
3570366 usd
xeri Reacquisition Price Of Modified Convertible Debt Instrument1
ReacquisitionPriceOfModifiedConvertibleDebtInstrument1
5850000 usd
xeri Reacquisition Price Of Fair Value Of Warrants1
ReacquisitionPriceOfFairValueOfWarrants1
689621 usd
xeri Reacquisitionpriceofaccrued Short Term Liability
ReacquisitionpriceofaccruedShortTermLiability
100000 usd
CY2022Q4 xeri Carrying Value Of Original Debt1
CarryingValueOfOriginalDebt1
5950000 usd
xeri Loss On An Extinguishment
LossOnAnExtinguishment
689621 usd
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
461482 usd
CY2022Q4 xeri Carrying Value Of Auctus Note
CarryingValueOfAuctusNote
5850000 usd
CY2022Q2 xeri Carrying Value Of Auctus Note
CarryingValueOfAuctusNote
3936185 usd
CY2022Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
5000000000 shares
CY2022Q4 us-gaap Common Stock No Par Value
CommonStockNoParValue
0.00001
CY2022Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
376933144 shares
CY2022Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
365239001 shares
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercised
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised
4308600 shares
CY2022 xeri Proceeds From Warrants Exercises
ProceedsFromWarrantsExercises
128550 usd
CY2022 us-gaap Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
4685615 shares
CY2022 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
761954 usd
CY2022 xeri Share Sold During Period
ShareSoldDuringPeriod
39366666 shares
CY2022 xeri Share Sold During Period Value
ShareSoldDuringPeriodValue
2078500 usd
CY2022 xeri Share Issued For Exchange Conversion
ShareIssuedForExchangeConversion
7138000 shares
CY2022 xeri Conversion Of Series A Preferred To Common Stocks Shares
ConversionOfSeriesAPreferredToCommonStocksShares
7138 shares
CY2022 xeri Common Stock Issued For Prior Period Conversions Principal And Interest
CommonStockIssuedForPriorPeriodConversionsPrincipalAndInterest
10598544 shares
CY2022 us-gaap Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
167550 usd
CY2022 us-gaap Conversion Of Stock Amount Issued1
ConversionOfStockAmountIssued1
4985 usd
CY2022 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
535 usd
CY2022 xeri Common Stock Share Issued For Conversion
CommonStockShareIssuedForConversion
4229680 shares
CY2022Q2 us-gaap Convertible Notes Payable
ConvertibleNotesPayable
250000 usd
CY2022 us-gaap Debt Instrument Increase Accrued Interest
DebtInstrumentIncreaseAccruedInterest
3749 usd
CY2022 xeri Additional Common Shares Issued As Financing Costs
AdditionalCommonSharesIssuedAsFinancingCosts
845936 shares
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
134927 usd
CY2022Q3 xeri Share Issued For Exchange Conversion
ShareIssuedForExchangeConversion
1000000 shares
CY2022Q3 xeri Conversion Of Series A Preferred To Common Stocks Shares
ConversionOfSeriesAPreferredToCommonStocksShares
1000 shares
CY2022Q3 us-gaap Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
457143 shares
CY2022Q3 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
48000 usd
CY2022Q4 xeri Share Issued For Exchange Conversion
ShareIssuedForExchangeConversion
10237000 shares
CY2022Q4 xeri Conversion Of Series A Preferred To Common Stocks Shares
ConversionOfSeriesAPreferredToCommonStocksShares
10237 shares
CY2022Q4 us-gaap Convertible Notes Payable
ConvertibleNotesPayable
130000 usd
CY2022Q4 us-gaap Accounts Payable Interest Bearing Interest Rate
AccountsPayableInterestBearingInterestRate
0.25 pure
us-gaap Conversion Of Stock Shares Issued1
ConversionOfStockSharesIssued1
1300000 shares
xeri Warrants Issued Period
WarrantsIssuedPeriod
P5Y
CY2022Q4 us-gaap Share Price
SharePrice
0.09

Files In Submission

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0001477932-23-001086-index.html Edgar Link pending
0001477932-23-001086.txt Edgar Link pending
0001477932-23-001086-xbrl.zip Edgar Link pending
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xeri-20221231.xsd Edgar Link pending
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xeri_10q.htm Edgar Link pending
xeri_ex311.htm Edgar Link pending
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xeri-20221231_pre.xml Edgar Link unprocessable
xeri_10q_htm.xml Edgar Link completed