$XERI
XERIANT, INC.

2024 Q3 Form 10-Q Financial Statement

#000147793224007198 Filed on November 14, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2023 Q3
Revenue $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $240.0K
YoY Change -56.52%
% of Gross Profit
Research & Development $26.56K $26.98K
YoY Change -1.56%
% of Gross Profit
Depreciation & Amortization $0.00
YoY Change -100.0%
% of Gross Profit
Operating Expenses $358.8K $318.9K
YoY Change 12.51% -56.67%
Operating Profit -$358.8K -$318.9K
YoY Change 12.51% -56.67%
Interest Expense $61.62K $20.67K
YoY Change 198.04%
% of Operating Profit
Other Income/Expense, Net -$13.43K -$23.12K
YoY Change -41.93% -99.43%
Pretax Income -$372.2K -$340.0K
YoY Change 9.48% -92.94%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$372.2K -$342.0K
YoY Change 8.83% -92.9%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share $0.00
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2024 Q3 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $20.00K
YoY Change -96.69%
Cash & Equivalents $300.0K $24.55K
Short-Term Investments
Other Short-Term Assets $0.00
YoY Change -100.0%
Inventory
Prepaid Expenses $11.79K $3.714K
Receivables $140.0K
Other Receivables $0.00
Total Short-Term Assets $320.0K $168.2K
YoY Change 90.22% -73.12%
LONG-TERM ASSETS
Property, Plant & Equipment $3.617K $5.129K
YoY Change -29.48% -22.77%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $10.00K
YoY Change
Total Long-Term Assets $34.85K $88.44K
YoY Change -60.59% -28.72%
TOTAL ASSETS
Total Short-Term Assets $320.0K $168.2K
Total Long-Term Assets $34.85K $88.44K
Total Assets $354.8K $256.7K
YoY Change 38.25% -65.78%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $440.0K
YoY Change 531.28%
Accrued Expenses $70.00K
YoY Change -15.31%
Deferred Revenue
YoY Change
Short-Term Debt $6.550M
YoY Change 10.08%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $7.132M
YoY Change 15.44%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities $20.00K
YoY Change -74.69%
Total Long-Term Liabilities $20.00K
YoY Change -74.69%
TOTAL LIABILITIES
Total Short-Term Liabilities $7.132M
Total Long-Term Liabilities $20.00K
Total Liabilities $8.852M $7.153M
YoY Change 23.76% 14.32%
SHAREHOLDERS EQUITY
Retained Earnings -$27.07M -$23.97M
YoY Change 12.94% 12.12%
Common Stock $5.702K $2.369M
YoY Change -99.76% 64691.61%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$5.630M -$6.896M
YoY Change
Total Liabilities & Shareholders Equity $354.8K $256.7K
YoY Change 38.25% -65.78%

Cashflow Statement

Concept 2024 Q3 2023 Q3
OPERATING ACTIVITIES
Net Income -$372.2K -$342.0K
YoY Change 8.83% -92.9%
Depreciation, Depletion And Amortization $0.00
YoY Change -100.0%
Cash From Operating Activities -$353.1K -$308.1K
YoY Change 14.59% -45.5%
INVESTING ACTIVITIES
Capital Expenditures $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities -$140.0K
YoY Change
Cash From Investing Activities $0.00 -$139.9K
YoY Change -100.0% 5351.77%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $0.00 $411.0K
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities -$353.1K -$308.1K
Cash From Investing Activities $0.00 -$139.9K
Cash From Financing Activities $0.00 $411.0K
Net Change In Cash -$353.1K -$37.07K
YoY Change 852.41% -93.47%
FREE CASH FLOW
Cash From Operating Activities -$353.1K -$308.1K
Capital Expenditures $0.00
Free Cash Flow -$308.1K
YoY Change -45.74%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2024Q3 us-gaap Nature Of Operations
NatureOfOperations
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong>NOTE 1 - ORGANIZATION AND NATURE OF BUSINESS</strong></p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong>Company Overview</strong></p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Xeriant, Inc. (the “Company”) is dedicated to the discovery, development and commercialization of advanced materials and technology related to next generation air and spacecraft, which can be successfully integrated and commercialized for deployment across multiple industrial sectors. The Company seeks to partner with and acquire strategic interests in visionary companies that accelerate this mission. Xeriant’s advanced materials line will be marketed under the DUREVER™ brand, and includes NEXBOARD™, an eco-friendly, patent-pending composite building panel made from plastic and cellulose waste and a proprietary flame retardant, primarily designed to be a replacement for traditional building materials such as drywall, plywood, OSB, MDF, MgO board and other materials used in construction.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> <strong>Operating History</strong></p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The Company is a development-stage enterprise with a limited operating history with no sales, and operating losses since its inception.  The Company had two joint ventures, one in the area of aerospace that was effective May 31, 2021, and terminated on May 31, 2023, the other involving advanced materials that was effective April 2, 2022, and terminated June 30, 2023.  </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong>Advanced Materials</strong></p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">A primary focus of the Company is the development and commercialization of eco-friendly advanced materials which have applications across a broad range of industries and the potential to generate significant near-term revenue. The Company’s strategy encompasses licensing arrangements, joint ventures, or combinations which could allow for more rapid access to the market with reduced capital requirements and financial risk. Some partner companies may provide production and distribution infrastructure, which could streamline testing and certification as well as add brand recognition. Once the Company establishes sufficient production capabilities, the advanced materials may be sold as standalone products, enhancements to existing products, or used in the development of proprietary products under new trademarked brands owned by the Company. The Company is exploring manufacturing and branding opportunities for specific products derived from advanced materials acquired or developed, which would involve setting up production facilities, equipment, systems and supply chains. </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Throughout the second half of 2023, Xeriant began developing its own advanced materials, including proprietary flame-retardant technology for polymers contained in recycled materials.  The Company also began testing a number of production processes to manufacture its eco-friendly, patent pending, composite construction panel called NEXBOARD<sup style="vertical-align:super">™</sup> that can be competitive in the market and produced at industrial scale. Xeriant intends to initially manufacture these wallboards through a contract manufacturer to meet current existing demand indicated by several homebuilders and developers.  NEXBOARD will be available in varying thicknesses and sizes, including standard 48” x 96” sheets.  The Company will need to have this product certified for use in the construction industry, which is in process.  If Xeriant decides to set up its own manufacturing facilities it will need to raise significant capital, which may or may not be available depending on market conditions and other factors.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">On August 12, 2022, the Company filed a trademark application with the U.S. Patent and Trademark Office for “NEXBOARD,” with respect to construction panels, namely, composite sheets and panels composed primarily of plastic, reinforcement materials and fire-retardant chemicals for use in walls, ceilings, flooring, framing, siding, roofing and decking. The trademark filing was intentionally broad and based upon demand for a general all-purpose construction panel made from a mixture of fire-retardant and recycled materials. Xeriant has also filed a trademark application for “DUREVER™.”</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">On March 31, 2023, the Company filed a provisional patent application titled “Multilayered Fire-Resistant Polymer Composite and Method for Producing Same,” for a method of producing a unique fire-resistant thermoplastic and fiber composite material which may be formed or shaped into various construction products of different thicknesses and dimensions. This green material will be composed primarily of recycled plastic, cellulose and ecofriendly fire-retardant chemicals, including but not limited to use in walls, ceilings, flooring, framing, siding, roofing, molding, and decking, used in construction. On April 1, 2024, the Company filed a non-provisional U.S. patent application claiming priority to the filing date of the 2023 related provisional patent application described herein.  Subject to available capital, the Company is planning to build manufacturing facilities in the United States for the production of NEXBOARD™ in order to meet market demand, or alternatively license the technology and process. The Company has identified companies for near-term contract manufacturing, has potential locations identified for a pilot plant and larger manufacturing facilities, received bids for specialized manufacturing equipment, developed timetables related to the action plan, and selected a managing director with decades of experience who would like to oversee the startup of production, expansion and operations.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong>Aerospace</strong></p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The Company seeks to develop or acquire and commercialize disruptive, high-growth-potential technologies in aerospace, including next-generation air and spacecraft, that have potential applications in other industries.  The areas of focus that are reshaping the future of aerospace include advanced materials, advanced air mobility, unmanned aerial systems, AI, hypersonics, communications, cybersecurity, satellites, and renewable energy technology.  The Company’s initial concentration was on the emerging aviation market called advanced air mobility (AAM), the transition to more efficient, eco-friendly, automated and convenient flight operations, enabled by the convergence of technological advancements in design and engineering, composite materials, propulsion systems, battery energy density and manufacturing processes. Next-generation aircraft being developed for this market offer low-cost, on-demand flight for passengers and cargo, utilizing lower altitude airspace and bypassing the traditional hub-and-spoke airport network with vertical takeoff and landing (VTOL) capabilities. Many of these lightweight aircraft are electrically powered through either hybrid or pure battery systems, which allows for quieter, low emission flights over urban areas, however with limited speed and range. Hydrogen powered aircraft have already been prototyped and are expected to become more prevalent over the next decade.  The development of solid-state hydrogen technology may address the safety, large-area storage requirement limitations for gaseous-state hydrogen.  The Company plans to partner with and acquire strategic interests in visionary companies that accelerate our mission of commercializing critical breakthrough aerospace technologies which enhance sustainability, performance, and safety.  </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Effective May 31, 2021, the Company entered into a 50/50 Joint Venture Agreement with XTI Aircraft Company (“XTI”), for the purpose of completing the preliminary design review (“PDR”) of XTI’s TriFan 600, a 5-passenger plus pilot, hybrid electric vertical takeoff and landing (VTOL) fixed-wing aircraft.  The aircraft’s unique design elements along with the $1 billion in pre-orders and reservations, enticed Xeriant to invest $5.5 million to complete the PDR, which was accomplished in the first quarter of 2022 according to XTI.  The TriFan 600 was purported to become the fastest, longest-range VTOL aircraft in the world and the first commercial fixed-wing VTOL airplane. According to recent public disclosures by XTI, pre-orders and reservations of the TriFan 600 total approximately $7 billion.  On May 17, 2022, Xeriant signed a Letter Agreement with XTI related to the introduction of XTI to Inpixon, a Nasdaq-listed company. Under this Letter Agreement, if there was a combination or other transaction between XTI and Inpixon, Xeriant would receive compensation of 6 percent of XTI fully diluted pre-merger shares, and XTI would assume the obligations of Xeriant’s Senior Secured Note with Auctus Fund, LLC.  On July 25, 2023, Inpixon filed an 8-K, announcing their intention to merge with XTI having executed an Agreement of Plan and Merger with XTI. The filing also showed that XTI had engaged in a transaction with Inpixon on March 10, 2023, receiving $300,000 in funding, which was a compensation triggering event. Inpixon subsequently filed an S-4/A registration statement on October 6, 2023.  On December 6, 2023, the Company initiated legal proceedings against XTI.  See <em>Litigation </em>section below for a summary of the related legal proceedings.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">In the area of aerospace, management believes that Xeriant can grow expeditiously by acquiring technology and assets primarily through acquisitions, joint ventures, strategic investments, and licensing arrangements. As a publicly traded company, the Company offers partner companies such benefits as improved access to capital, higher valuations and lower risk through the shared ownership of a diversified portfolio, while allowing these entities to maintain independence in their distinct operations to focus on their fields of expertise. Cost savings and efficiencies may be realized from sharing non-operational functions such as finance, legal, tax, sales &amp; marketing, human resources, purchasing power, as well as investor and public relations.</p>
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<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The preparation of financial statements in conformity with U.S. GAAP 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 unaudited condensed consolidated 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 warrants associated with convertible debt. Actual results could differ from these estimates.</p>
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XERIANT, INC.
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ConsultingAndAdvisoryFees
88983 usd
CY2023Q3 xeri Consulting And Advisory Fees
ConsultingAndAdvisoryFees
51695 usd
CY2024Q3 us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
123000 usd
CY2023Q3 us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
97500 usd
CY2024Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
56445 usd
CY2023Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
52399 usd
CY2024Q3 us-gaap Professional Fees
ProfessionalFees
63806 usd
CY2023Q3 us-gaap Professional Fees
ProfessionalFees
90314 usd
CY2024Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
26561 usd
CY2023Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
26982 usd
CY2024Q3 us-gaap Operating Expenses
OperatingExpenses
358795 usd
CY2023Q3 us-gaap Operating Expenses
OperatingExpenses
318890 usd
CY2024Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-358795 usd
CY2023Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-318890 usd
CY2024Q3 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
16802 usd
CY2023Q3 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
0 usd
CY2024Q3 us-gaap Interest Expense
InterestExpense
61617 usd
CY2023Q3 us-gaap Interest Expense
InterestExpense
20674 usd
CY2024Q3 xeri Gain On Extinguishment Of Debt
GainOnExtinguishmentOfDebt
64992 usd
CY2023Q3 xeri Gain On Extinguishment Of Debt
GainOnExtinguishmentOfDebt
0 usd
CY2024Q3 xeri Gain Loss Change In Fair Value Of Convertible Bridge Loans
GainLossChangeInFairValueOfConvertibleBridgeLoans
0 usd
CY2023Q3 xeri Gain Loss Change In Fair Value Of Convertible Bridge Loans
GainLossChangeInFairValueOfConvertibleBridgeLoans
-2448 usd
CY2024Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-13427 usd
CY2023Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-23122 usd
CY2024Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-372222 usd
CY2023Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-342012 usd
CY2024Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2023Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2024Q3 us-gaap Net Income Loss
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-372222 usd
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-342012 usd
CY2024Q3 us-gaap Income Loss Attributable To Noncontrolling Interest
IncomeLossAttributableToNoncontrollingInterest
-7376 usd
CY2023Q3 us-gaap Income Loss Attributable To Noncontrolling Interest
IncomeLossAttributableToNoncontrollingInterest
-7922 usd
CY2024Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-364846 usd
CY2023Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-334090 usd
CY2024Q3 xeri Earnings Per Shares Basic And Diluted
EarningsPerSharesBasicAndDiluted
-0.00
CY2023Q3 xeri Earnings Per Shares Basic And Diluted
EarningsPerSharesBasicAndDiluted
-0.00
CY2024Q3 xeri Weighted Average Number Of Common Shares Outstanding Basic And Diluted
WeightedAverageNumberOfCommonSharesOutstandingBasicAndDiluted
547575614 shares
CY2023Q3 xeri Weighted Average Number Of Common Shares Outstanding Basic And Diluted
WeightedAverageNumberOfCommonSharesOutstandingBasicAndDiluted
393756221 shares
CY2024Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2024Q3 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
217512 usd
CY2024Q3 xeri Conversion Of Series A Preferred To Common Stock Amount
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0 usd
CY2024Q3 xeri Conversion Of Convertible Notes Payable And Accrued Interest Into Common Stock Amount
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269501 usd
CY2024Q3 us-gaap Profit Loss
ProfitLoss
-372222 usd
CY2024Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-8497663 usd
CY2023Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-6620100 usd
CY2023Q3 xeri Conversion Of Series A Preferred To Common Stock Amount
ConversionOfSeriesAPreferredToCommonStockAmount
0 usd
CY2023Q3 xeri Conversion Of Convertible Notes Payable And Accrued Interest Into Common Stock Amount
ConversionOfConvertibleNotesPayableAndAccruedInterestIntoCommonStockAmount
66000 usd
CY2023Q3 us-gaap Profit Loss
ProfitLoss
-342012 usd
CY2023Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-6896112 usd
CY2024Q3 us-gaap Profit Loss
ProfitLoss
-372222 usd
CY2023Q3 us-gaap Profit Loss
ProfitLoss
-342012 usd
CY2024Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
378 usd
CY2023Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
378 usd
CY2024Q3 xeri Stock Issued For Services
StockIssuedForServices
-217512 usd
CY2023Q3 xeri Stock Issued For Services
StockIssuedForServices
0 usd
CY2024Q3 xeri Change In Fair Value Of Convertible Bridge Loans
ChangeInFairValueOfConvertibleBridgeLoans
0 usd
CY2023Q3 xeri Change In Fair Value Of Convertible Bridge Loans
ChangeInFairValueOfConvertibleBridgeLoans
-2448 usd
CY2024Q3 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
16802 usd
CY2023Q3 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
0 usd
CY2024Q3 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
13566 usd
CY2023Q3 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
12146 usd
CY2024Q3 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
8861 usd
CY2023Q3 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-815 usd
CY2024Q3 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-197218 usd
CY2023Q3 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
41274 usd
CY2024Q3 xeri Increase Decrease In Due To Related Party
IncreaseDecreaseInDueToRelatedParty
-7999 usd
CY2023Q3 xeri Increase Decrease In Due To Related Party
IncreaseDecreaseInDueToRelatedParty
-10000 usd
CY2024Q3 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-15053 usd
CY2023Q3 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-13176 usd
CY2024Q3 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-353095 usd
CY2023Q3 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-308127 usd
CY2024Q3 us-gaap Repayment Of Notes Receivable From Related Parties
RepaymentOfNotesReceivableFromRelatedParties
0 usd
CY2023Q3 us-gaap Repayment Of Notes Receivable From Related Parties
RepaymentOfNotesReceivableFromRelatedParties
139947 usd
CY2024Q3 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
0 usd
CY2023Q3 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-139947 usd
CY2024Q3 us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
0 usd
CY2023Q3 us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
411000 usd
CY2024Q3 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
0 usd
CY2023Q3 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
411000 usd
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-353095 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-37074 usd
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
653117 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
61625 usd
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
300022 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
24551 usd
CY2024Q3 us-gaap Interest Paid Net
InterestPaidNet
0 usd
CY2023Q3 us-gaap Interest Paid Net
InterestPaidNet
0 usd
CY2024Q3 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 usd
CY2023Q3 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 usd
CY2024Q3 xeri Conversion Of Convertible Notes Payable And Accrued Interest
ConversionOfConvertibleNotesPayableAndAccruedInterest
269501 usd
CY2023Q3 xeri Conversion Of Convertible Notes Payable And Accrued Interest
ConversionOfConvertibleNotesPayableAndAccruedInterest
66000 usd
CY2024Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-27073761 usd
CY2024Q3 us-gaap Net Income Loss
NetIncomeLoss
-372222 usd
CY2024Q3 xeri Working Capital Deficit
WorkingCapitalDeficit
-8532513 usd
CY2024Q3 xeri Principles Of Consolidation Policytextblock
PrinciplesOfConsolidationPolicytextblock
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The unaudited condensed consolidated financial statements include the accounts of Xeriant, Inc., American Aviation Technologies, LLC and BlueGreen Composites, LLC. The Company owns a 64% controlling interest in AAT; and a 100% interest in BlueGreen Composites, LLC. All intercompany balances and transactions have been eliminated.</p>
CY2024Q3 us-gaap Variable Interest Entity Ownership Percentage
VariableInterestEntityOwnershipPercentage
0.64 pure
CY2024Q3 us-gaap Share Based Compensation
ShareBasedCompensation
217512 usd
CY2023Q3 us-gaap Share Based Compensation
ShareBasedCompensation
0 usd
CY2024Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
26561 usd
CY2023Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
26982 usd
CY2024Q3 us-gaap Advertising Expense
AdvertisingExpense
2035 usd
CY2023Q3 us-gaap Advertising Expense
AdvertisingExpense
6356 usd
CY2024Q3 xeri Warrants Issued
WarrantsIssued
118968828 shares
CY2023Q3 xeri Warrants Issued
WarrantsIssued
104802161 shares
CY2024Q3 xeri Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Stock
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableStock
21250000 shares
CY2023Q3 xeri Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Stock
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableStock
21250000 shares
CY2024Q3 xeri Stock Issued During Period Convertible Notes Payable
StockIssuedDuringPeriodConvertibleNotesPayable
861438676 shares
CY2023Q3 xeri Stock Issued During Period Convertible Notes Payable
StockIssuedDuringPeriodConvertibleNotesPayable
103383909 shares
CY2024Q3 us-gaap Stock Issued During Period Shares Other
StockIssuedDuringPeriodSharesOther
699416000 shares
CY2023Q3 us-gaap Stock Issued During Period Shares Other
StockIssuedDuringPeriodSharesOther
752395000 shares
CY2024Q3 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
1701073504 shares
CY2023Q3 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
981831070 shares
CY2024Q3 us-gaap Cash Acquired In Excess Of Payments To Acquire Business
CashAcquiredInExcessOfPaymentsToAcquireBusiness
0 usd
CY2024Q3 us-gaap Subordinated Borrowing Interest Rate
SubordinatedBorrowingInterestRate
0.10 pure
CY2024Q2 xeri Operating Lease Right Of Use Asset Before Accumulated Amortization
OperatingLeaseRightOfUseAssetBeforeAccumulatedAmortization
220448 usd
CY2024Q3 xeri Operating Lease Right Of Use Asset Before Accumulated Amortization
OperatingLeaseRightOfUseAssetBeforeAccumulatedAmortization
220448 usd
CY2024Q3 xeri Operating Lease Right Of Use Asset Accumulated Amortization
OperatingLeaseRightOfUseAssetAccumulatedAmortization
-201761 usd
CY2024Q2 xeri Operating Lease Right Of Use Asset Accumulated Amortization
OperatingLeaseRightOfUseAssetAccumulatedAmortization
-188195 usd
CY2024Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
18687 usd
CY2024Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
32253 usd
CY2024Q3 xeri Office Leas Operating Lease Liability
OfficeLeasOperatingLeaseLiability
21144 usd
CY2024Q2 xeri Office Leas Operating Lease Liability
OfficeLeasOperatingLeaseLiability
36197 usd
CY2024Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
21144 usd
CY2024Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
36197 usd
CY2024Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
0 usd
CY2024Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
0 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
21410 usd
CY2024Q3 xeri Total Future Minimum Lease Payments
TotalFutureMinimumLeasePayments
21410 usd
CY2024Q3 xeri Present Value Discount
PresentValueDiscount
-266 usd
CY2024Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
21144 usd
CY2023Q3 us-gaap Debt Instrument Convertible Carrying Amount Of The Equity Component
DebtInstrumentConvertibleCarryingAmountOfTheEquityComponent
5850000 usd
CY2023Q3 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
5850000 usd
CY2023Q2 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
5850000 usd
CY2024Q3 us-gaap Accounts Payable And Other Accrued Liabilities
AccountsPayableAndOtherAccruedLiabilities
50000 usd
CY2024 us-gaap Interest Expense Debt
InterestExpenseDebt
1070729 usd
CY2023Q4 us-gaap Interest On Convertible Debt Net Of Tax
InterestOnConvertibleDebtNetOfTax
200115 usd
CY2023Q4 us-gaap Conversion Of Stock Shares Converted1
ConversionOfStockSharesConverted1
20011500 shares
CY2024Q2 us-gaap Interest On Convertible Debt Net Of Tax
InterestOnConvertibleDebtNetOfTax
227067 usd
CY2024Q2 us-gaap Conversion Of Stock Shares Converted1
ConversionOfStockSharesConverted1
22706700 shares
CY2024Q3 us-gaap Interest Payable Current
InterestPayableCurrent
643546 usd
CY2024Q3 xeri Convertiblenotespayablenetofdiscount Table Textblock
ConvertiblenotespayablenetofdiscountTableTextblock
<table cellpadding="0" style="border-spacing:0;text-align:left;font:10pt times new roman;width:100%"><tbody><tr style="height:15px"><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="hdcell" colspan="2" style="width:9%;vertical-align:bottom;text-align:center;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>September 30,</strong></p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="hdcell" colspan="2" style="width:9%;vertical-align:bottom;text-align:center;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>June 30,</strong></p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px"><td style="BORDER-BOTTOM: 1px solid;vertical-align:bottom;"><p style="font-size:10pt;font-family:times new roman;margin:0px"><strong>Convertible Notes Payable</strong></p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="hdcell" colspan="2" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:center;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>2024</strong></p></td><td style="PADDING-BOTTOM: 1px;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="hdcell" colspan="2" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:center;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>2024</strong></p></td><td style="PADDING-BOTTOM: 1px;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">Convertible notes payable (10% interest)</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%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">1,905,000</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 style="width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">2,180,000</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#ffffff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">Less unamortized discount</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">(30,669 </td><td style="PADDING-BOTTOM: 1px;width:1%;vertical-align:bottom;white-space: nowrap;">)</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">(47,471 </td><td style="PADDING-BOTTOM: 1px;width:1%;vertical-align:bottom;white-space: nowrap;">)</td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">Total face value</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: 3px double;width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="BORDER-BOTTOM: 3px double;width:9%;vertical-align:bottom;text-align:right;">1,874,331</td><td style="PADDING-BOTTOM: 3px;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 style="BORDER-BOTTOM: 3px double;width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="BORDER-BOTTOM: 3px double;width:9%;vertical-align:bottom;text-align:right;">2,132,529</td><td style="PADDING-BOTTOM: 3px;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr></tbody></table>
CY2024Q3 us-gaap Other Long Term Notes Payable
OtherLongTermNotesPayable
1905000 usd
CY2024Q2 us-gaap Other Long Term Notes Payable
OtherLongTermNotesPayable
2180000 usd
CY2024Q3 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
30669 usd
CY2024Q2 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
47471 usd
CY2024Q3 xeri Convertible Notes Payable Net
ConvertibleNotesPayableNet
1874331 usd
CY2024Q2 xeri Convertible Notes Payable Net
ConvertibleNotesPayableNet
2132529 usd
CY2024Q3 us-gaap Debt Instrument Convertible Conversion Price Decrease
DebtInstrumentConvertibleConversionPriceDecrease
0.01
CY2024Q3 us-gaap Derivative Term Of Contract
DerivativeTermOfContract
P3Y
CY2024Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
5000000000 shares
CY2024Q3 us-gaap Common Stock No Par Value
CommonStockNoParValue
0.00001
CY2024Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
570184486 shares
CY2024Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
524853304 shares
CY2024Q3 xeri Conversion Of Principal Amount
ConversionOfPrincipalAmount
245000 usd
CY2024Q3 us-gaap Debt Instrument Increase Accrued Interest
DebtInstrumentIncreaseAccruedInterest
269501 usd
CY2024Q3 xeri Common Stock Share Issued For Conversion
CommonStockShareIssuedForConversion
26950000 shares
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
21250000 shares
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.12
CY2024Q3 xeri Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Option Outstanding Weighted Average Remaining Contractual Terms89
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionOutstandingWeightedAverageRemainingContractualTerms89
P1Y1M9D
CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
0
CY2024Q3 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
0
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
21250000 shares
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.12
CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Outstanding Weighted Average Remaining Contractual Terms
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms
P0Y9M3D
CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
21250000 shares
CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.12
CY2024Q3 xeri Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Exercisable Weighted Average Remaining Contractual Terms
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsExercisableWeightedAverageRemainingContractualTerms
P0Y3M18D

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0001477932-24-007198.txt Edgar Link pending
0001477932-24-007198-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
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xeri-20240930_cal.xml Edgar Link unprocessable
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