SUBSEQUENT EVENTS

12 Months Ended

Jun. 30, 2021

SUBSEQUENT EVENTS

NOTE 13 - SUBSEQUENT EVENTS

Legal Proceedings

On September 1, 2021, Xeriant Inc. brought a cause of action in the Southern District of Florida against a former shareholder for claims, including but not limited to, breach of contract, misrepresentation, and asserting claims to recoup monetary and in-kind distributions made to the shareholder by the Company. The defendant in the above-mentioned action has not asserted any counterclaims to-date.

Sale of common stock

Subsequent to June 30, 2021, the Company sold an aggregate 30,966,667 shares of common stock to multiple investors for $1,668,500.

Exercise of warrants

Subsequent to June 30, 2021, an aggregate 4,185,000 warrants were exercised for $125,550.

Convertible notes

On August 9, 2021, the Company issued a convertible note with a face value of $100,000. The note matures on November 9, 2021, has an interest rate of 6% and has a conversion price of $0.06 per share.

On August 10, 2021, the Company issued a convertible note with a face value of $150,000. The note matures on November 10, 2021, has an interest rate of 6% and has a conversion price of $0.06 per share.