Xeriant Inc (XERI)

[quester614]

So all this time wasted with all your BS about the PPA filed to protect the development of Nexboard. We see that a total of $174,328 was used during the PPA was in effect. Yet there is NO certification. How much of the cost of getting certified was R&D. Why was a subsidiary created just for R&D that had no 8-K filing?????

Yes, a Form 8-K must be filed when a subsidiary enters into a non-ordinary course definitive agreement that is material to the registrant. This is reported under Item 1.01, and the termination of such an agreement is reported under Item 1.02.
The purpose of the 8-K form is to communicate with investors about information that affects their handling of shares.
https://www.sec.gov/divisions/corpfin/form8kfaq.htm

On August 7, 2023, the Company established a wholly owned subsidiary, BlueGreen Composites, LLC, to better manage the business operations of the green building products business line. As of the date of this filing, no bank account was opened, no contracts or agreements were executed, and no business operations were undertaken.

On July 30, 2023, we filed the trademark BlueGreen for ecofriendly composite building products and “Durever” for the same categories on July 31, 2023.

From July 1, 2023, through October 12, 2023, a total of $461,000 in convertible notes were issued.





Expenditures for research and development are expensed as incurred. The Company incurred research and development expenses of $0 and $5,267,581 for the years ended June 30, 2023 and 2022,

Total research and development expenses were $26,982 and $0 for the three months ended September 30 2023 and 2022,

Total research and development expenses were $79,735 and $0 for the six months ended December 31 2023 and 2022

Total research and development expenses were $67,524 and $0 for the three months ended March 31 2024 and 2023,

Total= $174,328