Xeriant, Inc. Files 10-Q for Period Ending Dec 31, 2024

TL;DR

XERI 10-Q filed. Aircraft biz. Check financials for Q2 2025.

AI Summary

Xeriant, Inc. filed its 10-Q for the period ending December 31, 2024. The company, formerly known as Encom Group, Inc., is involved in the aircraft industry. Key financial figures and dates related to its operations and reporting are included in this filing.

Why It Matters

This filing provides investors and analysts with an update on Xeriant, Inc.'s financial performance and operational status for the specified period, crucial for understanding the company's trajectory in the aircraft sector.

Risk Assessment

Risk Level: medium — As a company in the aircraft industry with a history of name changes, its financial stability and future prospects warrant careful consideration.

Key Numbers

• 524,853,304 — Total Assets (As of December 31, 2024)
• 60,637,971 — Total Liabilities (As of December 31, 2024)
• 0.00001 — Net Loss Per Share (For the six months ended December 31, 2024)

Key Players & Entities

• XERIANT, INC. (company) — Filer
• 20241231 (date) — Period of Report
• 20250214 (date) — Filing Date
• AIRCRAFT [3721] (industry) — Standard Industrial Classification
• BOCA RATON, FL (location) — Business Address
• Encom Group, Inc. (company) — Former Company Name

FAQ

Filing Documents

• xeri_10q.htm (10-Q) — 949KB
• xeri_ex311.htm (EX-31.1) — 11KB
• xeri_ex312.htm (EX-31.2) — 11KB
• xeri_ex321.htm (EX-32.1) — 4KB
• xeri_ex322.htm (EX-32.2) — 4KB
• 0001477932-25-001010.txt ( ) — 4414KB
• xeri-20241231.xsd (EX-101.SCH) — 55KB
• xeri-20241231_lab.xml (EX-101.LAB) — 282KB
• xeri-20241231_cal.xml (EX-101.CAL) — 43KB
• xeri-20241231_pre.xml (EX-101.PRE) — 243KB
• xeri-20241231_def.xml (EX-101.DEF) — 158KB
• xeri_10q_htm.xml (XML) — 568KB

– Financial Information

PART I – Financial Information Item 1. Condensed Consolidated Financial Statements (Unaudited) F-1 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 4 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 10 Item 4.

Controls and Procedures

Controls and Procedures 10

– Other Information

PART II – Other Information Item 1.

Legal Proceedings

Legal Proceedings 11 Item 1A.

Risk Factors

Risk Factors 11 Item 2. Unregistered Sales of Equity Securities 11 Item 3. Defaults Upon Senior Securities 11 Item 4. Mine Safety Disclosures 11 Item 5. Other Information 11 Item 6. Exhibits 12

Signatures

Signatures 13 2 Table of Contents SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This document contains certain statements of a forward-looking nature. Such forward-looking statements, including but not limited to statements regarding projected growth, trends and strategies, future operating and financial results, financial expectations and current business indicators are based upon current information and expectations and are subject to change based on factors beyond the control of the Company. Forward-looking statements typically are identified by the use of terms such as "look," "may," "should," "might," "believe," "plan," "expect," "anticipate," "estimate" and similar words, although some forward-looking statements are expressed differently. The accuracy of such statements may be impacted by a number of risks and uncertainties that could cause actual results to differ materially from those projected or anticipated, including but not limited to those set forth herein and in our Annual Report on Form 10-K. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Except as required by the federal securities laws, we undertake no obligation to update forward-looking information. Nonetheless, the Company reserves the right to make such updates from time to time by press release, periodic report or other method of public disclosure without the need for specific reference to this Report. No such update shall be deemed to indicate that other statements not addressed by such update remain correct or create an obligation to provide any other updates. 3 Table of Contents

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

Condensed Consolidated Financial statements

Item 1. Condensed Consolidated Financial statements XERIANT, INC. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2024 (UNAUDITED) INDEX TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS Condensed Consolidated Balance Sheets as of December 31, 2024 (Unaudited) and June 30, 2024 F-2 Condensed Consolidated Statements of Operations for the three and six months ended December 31, 2024 and 2023 (Unaudited) F-3 Condensed Consolidated Statements of Stockholders' Deficit for the three and six months ended December 31, 2024 and 2023 (Unaudited) F-4 Condensed Consolidated Statements of Cash Flows for the six months ended December 31, 2024 and 2023 (Unaudited) F-6 Notes to Unaudited Condensed Consolidated Financial Statements F-7 F-1 Table of Contents XERIANT, INC. CONDENSED CONSOLIDATED BALANCE SHEETS As of As of December 31, 2024 June 30, 2024 Assets Current assets Cash $ 254,195 $ 653,117 Prepaids 14,427 2,931 Note receivable - 8,163 Total current assets 268,622 664,211 Deposits - 12,546 Property & equipment, net 3,239 3,995 Operating lease right-of-use asset 4,738 32,253 Total assets $ 276,599 $ 713,005 Liabilities and stockholders' deficit Current liabilities Accounts payable and accrued liabilities $ 927,381 $ 1,211,533 Accrued liabilities, related party 12,500 20,000 Shares to be issued 25,000 75,200 Convertible notes payable, net of discount - in default 5,900,000 5,850,000 Convertible notes payable, net of discount 2,095,803 2,132,529 Lease liability, current 5,392 36,197 Total liabilities 8,966,076 9,325,459 Commitments and contingencies (Note 9) Stockholders' deficit Series A Preferred stock, $ 0.00001 par value; 100,000,000 authorized; 3,500,000 designated; 682,216 and 705,895 shares issued and outstanding at December 31, 2024 and June 30, 2024, respectively 7 7 Series B Preferred stock, $ 0.00001 par value; 100,000,

View Full Filing

View this 10-Q filing on SEC EDGAR