Turning a simple XML style format into a List of objects that MonoGame can render

GalaxyText.cs

 public static List<GalaxyText> Parse(string text,
                                             SpriteFont font,
                                             SpriteFont fontBold,
                                             SpriteFont fontItalic,
                                             SpriteFont fontBoldItalic)
        {

            var result = new List<GalaxyText>();            
            var state = new Stack<ParseState>();
            state.Push(new ParseState(font, Color.White));
            char[] cArr = text.ToCharArray();
            StringBuilder currText = new StringBuilder();            
            int i = 0;
            while (i < cArr.Length)
            {
                while (i < cArr.Length && cArr[i] != '<')
                {
                    currText.Append(cArr[i]);
                    i++;
                }
                result.Add(new GalaxyText(currText.ToString(), state.Peek().Font, state.Peek().Color));
                currText.Clear();
                string tag = string.Empty;
                i++; //go past the opening bracket
                while (i < cArr.Length && cArr[i] != '>')
                {
                    tag += cArr[i];
                    i++;
                }                
                i++; // go past the close backet
                tag = tag.Trim().ToLower();
                if (tag.Length == 0) break; //eof
                if (tag == "b")
                {
                    SpriteFont currentFont = state.Peek().Font;
                    if (currentFont == fontItalic || currentFont == fontBoldItalic)
                        state.Push(new ParseState(fontBoldItalic, state.Peek().Color));
                    else
                        state.Push(new ParseState(fontBold, state.Peek().Color));
                }
                else if (tag == "i")
                {
                    SpriteFont currentFont = state.Peek().Font;
                    if (currentFont == fontBold || currentFont == fontBoldItalic)
                        state.Push(new ParseState(fontBoldItalic, state.Peek().Color));
                    else
                        state.Push(new ParseState(fontItalic, state.Peek().Color));
                }
                else if (GalaxyColor.StrIsColor(tag))
                {
                    state.Push(new ParseState(state.Peek().Font, GalaxyColor.StrToColor(tag)));
                }
                else if (tag[0] == '/') //closing tag
                {
                    state.Pop();
                }
            }

            return result;
        }