ORGANIZATION AND NATURE OF BUSINESS	9 Months Ended
Mar. 31, 2024
ORGANIZATION AND NATURE OF BUSINESS
ORGANIZATION AND NATURE OF BUSINESS	NOTE 1 - ORGANIZATION AND NATURE OF BUSINESS Company Overview 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. Upon certification, the Company plans to market its advanced materials line under the DUREVER™ brand, which includes NEXBOARD™, an eco-friendly, patent-pending composite building panel made from plastic and cellulose waste, designed to replace products such as drywall, plywood, OSB, MDF, MgO board and other materials used in construction. Operating History The Company is a development-stage enterprise with a limited operating history with no sales, and operating losses since its inception. The Company has had two joint ventures, one in the area of aerospace that was effective May 27, 2021, and the other involving advanced materials that was effective April 2, 2022, and terminated on June 30, 2023. Advanced Materials A primary focus of the Company is the acquisition and commercial exploitation of eco-friendly, advanced materials and chemicals which have applications across a broad range of industries and the potential to generate significant near-term revenue. The Company’s commercialization strategy encompasses licensing arrangements and joint ventures, which would allow for more rapid access to the market with reduced capital requirements and financial risk. In addition to providing the production and distribution infrastructure, these established partnering companies can streamline testing and certification and add brand recognition value. The advanced materials and chemicals may be sold as standalone products, enhancements to existing products, or used in the development of proprietary products under a new trademarked brand owned by the Company. The Company is exploring manufacturing and branding opportunities for specific products derived from advanced materials and chemicals acquired or developed, which would involve setting up production facilities, equipment, systems and supply chain. On August 12, 2022, the Company filed the trademark “NEXBOARD” for 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. 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. On July 31, 2023, Xeriant filed the trademark “DUREVER” for green composite construction products made from recycled materials that could include construction panels, framing, support beams, flooring, sheathing, roofing, decking, trim, doors, and window casings. The Company’s advanced composites could also be used as a more durable wood replacement for furniture, cabinets, pallets, and potentially a variety of aerospace, automotive, and marine components that would also be marketed under the DUREVER brand. The Company may also develop and market additional fire-retardant products under DUREVER. During the second fiscal quarter of 2024, the Company completed development and testing of its proprietary eco-friendly flame retardant for use in its construction panel, NEXBOARD. This fire retardant is effective when incorporated in a variety of thermoplastics and fiber composite materials, allowing the DUREVER products, including NEXBOARD to be fire resistant. The Company is considering filing a patent application for its proprietary flame retardant. Beginning in mid-2023, the Company began testing two high-volume production processes for NEXBOARD, so that these composite construction panels can be cost-effectively produced in the United States at industrial scale. After successful research and development, the Company will now be able to manufacture its composite materials into green construction products of various shapes and sizes. High volume production will unlock existing demand indicated by several homebuilders, green building products companies, and transportation companies seeking our environmentally friendly construction panels in varying thicknesses and sizes, including standard 48” x 96” sheets, economically and with consistency and efficiency. After a series of research and development fire tests, the Company is now pursuing the final fire test certification of NEXBOARD, expected during the Company’s fourth quarter of fiscal year 2024. 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 potential sites for near-term contract manufacturing, a pilot plant, and larger manufacturing facilities, received bids for specialized manufacturing equipment, developed timetables related to the action plan, and hired a managing director with decades of experience to oversee the projects. Aerospace and Defense The Company seeks to develop and commercialize disruptive, high-growth-potential technologies in aerospace and defense, including next-generation air and spacecraft, by partnering with companies on the leading edge of innovation. Management believes that the Company can grow expeditiously by acquiring technology and assets primarily through acquisitions, joint ventures, strategic investments, and licensing arrangements. The Company’s areas of focus that are reshaping the future of aerospace include unmanned systems, AI, hypersonics, advanced air mobility (AAM), communications, cybersecurity, satellites, alternative powerplants and advanced materials. Xeriant seeks to take a leadership role in identifying, developing and integrating these technologies. As a publicly traded company, Xeriant offers its target 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 & marketing, human resources, purchasing power, as well as investor and public relations. A major area of interest for the Company has been 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 flights 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. The adoption and integration of niche aerial services through AAM is expected to provide benefits throughout the economy. The Company plans to partner with and acquire strategic interests in visionary companies that accelerate our mission of commercializing critical breakthrough AAM technologies which enhance performance, increase safety, and enable and support more efficient, autonomous, and sustainable flight operations, including electric and hybrid-electric passenger and cargo transport aircraft capable of vertical takeoff and landing. The Company’s plan to source and acquire strategic interests in leading aerospace companies developing breakthrough VTOL aircraft began in the second quarter of fiscal year 2021. Reference is made to Note 3 concerning the joint venture with XTI Aircraft Company. In May of 2021, Xeriant executed a joint venture with XTI Aircraft Company (“XTI”) to further the development of the TriFan 600, designed to be the world’s fastest, longest-range commercial VTOL airplane, funding approximately $5.5 million. Preliminary Design Review was completed in early 2022 and XTI claims that the TriFan 600 could enter service by the end of 2027. XTI has stated that the TriFan 600 has over $7 billion in conditional preorders. Since 2022, Xeriant has been developing advanced materials focused on high-performance fire-resistant polymer composites. The Company has created a proprietary, eco-friendly flame retardant and a patent-pending methodology for efficiently incorporating this technology into polymer composites to create heat-resistant, superior strength-to-weight properties for use in various industries.

ORGANIZATION AND NATURE OF BUSINESS

9 Months Ended

Mar. 31, 2024

NOTE 1 - ORGANIZATION AND NATURE OF BUSINESS

Company Overview

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. Upon certification, the Company plans to market its advanced materials line under the DUREVER™ brand, which includes NEXBOARD™, an eco-friendly, patent-pending composite building panel made from plastic and cellulose waste, designed to replace products such as drywall, plywood, OSB, MDF, MgO board and other materials used in construction.

Operating History

The Company is a development-stage enterprise with a limited operating history with no sales, and operating losses since its inception. The Company has had two joint ventures, one in the area of aerospace that was effective May 27, 2021, and the other involving advanced materials that was effective April 2, 2022, and terminated on June 30, 2023.

Advanced Materials

A primary focus of the Company is the acquisition and commercial exploitation of eco-friendly, advanced materials and chemicals which have applications across a broad range of industries and the potential to generate significant near-term revenue. The Company’s commercialization strategy encompasses licensing arrangements and joint ventures, which would allow for more rapid access to the market with reduced capital requirements and financial risk. In addition to providing the production and distribution infrastructure, these established partnering companies can streamline testing and certification and add brand recognition value. The advanced materials and chemicals may be sold as standalone products, enhancements to existing products, or used in the development of proprietary products under a new trademarked brand owned by the Company. The Company is exploring manufacturing and branding opportunities for specific products derived from advanced materials and chemicals acquired or developed, which would involve setting up production facilities, equipment, systems and supply chain.

On August 12, 2022, the Company filed the trademark “NEXBOARD” for 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.

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.

On July 31, 2023, Xeriant filed the trademark “DUREVER” for green composite construction products made from recycled materials that could include construction panels, framing, support beams, flooring, sheathing, roofing, decking, trim, doors, and window casings. The Company’s advanced composites could also be used as a more durable wood replacement for furniture, cabinets, pallets, and potentially a variety of aerospace, automotive, and marine components that would also be marketed under the DUREVER brand. The Company may also develop and market additional fire-retardant products under DUREVER.

During the second fiscal quarter of 2024, the Company completed development and testing of its proprietary eco-friendly flame retardant for use in its construction panel, NEXBOARD. This fire retardant is effective when incorporated in a variety of thermoplastics and fiber composite materials, allowing the DUREVER products, including NEXBOARD to be fire resistant. The Company is considering filing a patent application for its proprietary flame retardant.

Beginning in mid-2023, the Company began testing two high-volume production processes for NEXBOARD, so that these composite construction panels can be cost-effectively produced in the United States at industrial scale. After successful research and development, the Company will now be able to manufacture its composite materials into green construction products of various shapes and sizes. High volume production will unlock existing demand indicated by several homebuilders, green building products companies, and transportation companies seeking our environmentally friendly construction panels in varying thicknesses and sizes, including standard 48” x 96” sheets, economically and with consistency and efficiency.

After a series of research and development fire tests, the Company is now pursuing the final fire test certification of NEXBOARD, expected during the Company’s fourth quarter of fiscal year 2024. 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 potential sites for near-term contract manufacturing, a pilot plant, and larger manufacturing facilities, received bids for specialized manufacturing equipment, developed timetables related to the action plan, and hired a managing director with decades of experience to oversee the projects.

Aerospace and Defense

The Company seeks to develop and commercialize disruptive, high-growth-potential technologies in aerospace and defense, including next-generation air and spacecraft, by partnering with companies on the leading edge of innovation. Management believes that the Company can grow expeditiously by acquiring technology and assets primarily through acquisitions, joint ventures, strategic investments, and licensing arrangements. The Company’s areas of focus that are reshaping the future of aerospace include unmanned systems, AI, hypersonics, advanced air mobility (AAM), communications, cybersecurity, satellites, alternative powerplants and advanced materials. Xeriant seeks to take a leadership role in identifying, developing and integrating these technologies. As a publicly traded company, Xeriant offers its target 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 & marketing, human resources, purchasing power, as well as investor and public relations.

A major area of interest for the Company has been 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 flights 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. The adoption and integration of niche aerial services through AAM is expected to provide benefits throughout the economy. The Company plans to partner with and acquire strategic interests in visionary companies that accelerate our mission of commercializing critical breakthrough AAM technologies which enhance performance, increase safety, and enable and support more efficient, autonomous, and sustainable flight operations, including electric and hybrid-electric passenger and cargo transport aircraft capable of vertical takeoff and landing. The Company’s plan to source and acquire strategic interests in leading aerospace companies developing breakthrough VTOL aircraft began in the second quarter of fiscal year 2021. Reference is made to Note 3 concerning the joint venture with XTI Aircraft Company.

In May of 2021, Xeriant executed a joint venture with XTI Aircraft Company (“XTI”) to further the development of the TriFan 600, designed to be the world’s fastest, longest-range commercial VTOL airplane, funding approximately $5.5 million. Preliminary Design Review was completed in early 2022 and XTI claims that the TriFan 600 could enter service by the end of 2027. XTI has stated that the TriFan 600 has over $7 billion in conditional preorders.

Since 2022, Xeriant has been developing advanced materials focused on high-performance fire-resistant polymer composites. The Company has created a proprietary, eco-friendly flame retardant and a patent-pending methodology for efficiently incorporating this technology into polymer composites to create heat-resistant, superior strength-to-weight properties for use in various industries.