Sundance Strategies Files 2024 10-K

TL;DR

Sundance Strategies (SUND) filed its 2024 10-K. Check financials for FY ending 3/31/24.

AI Summary

Sundance Strategies, Inc. filed its annual 10-K report for the fiscal year ending March 31, 2024. The company, formerly known as JAVA EXPRESS INC, is incorporated in Nevada and operates in the insurance agents, brokers, and services sector. Its principal business address is in Provo, Utah. The filing covers the period from April 1, 2023, to March 31, 2024, and includes financial data for the fiscal years 2023 and 2024.

Why It Matters

This 10-K filing provides a comprehensive overview of Sundance Strategies, Inc.'s financial performance and operational status for the fiscal year ending March 31, 2024, crucial for investors and stakeholders.

Risk Assessment

Risk Level: low — The provided text is a standard SEC filing header and does not contain specific financial performance details or forward-looking statements that would indicate a high risk.

Key Numbers

• 2024-03-31 — Fiscal Year End (The end date of the reporting period for the 10-K.)
• 20240701 — Filing Date (The date the 10-K was officially submitted to the SEC.)

Key Players & Entities

• Sundance Strategies, Inc. (company) — Filer
• JAVA EXPRESS INC (company) — Former Company Name
• 2024-03-31 (date) — Fiscal Year End
• 20240701 (date) — Filing Date
• 801-705-8968 (phone_number) — Business Phone

FAQ

Key Financial Figures

• $0.001 — nge on which registered Common Stock, $0.001 par value SUND OTCQB Indicate by
• $0 — 8,441 shares of common stock, par value $0.001, issued and outstanding. The aggreg
• $100,000 — t") that required us to make an initial $100,000 payment and up to an additional $400,00
• $400,000 — 100,000 payment and up to an additional $400,000 in the future (which will be financed b
• $1.00 — into our common stock at prices between $1.00 to $2.50 per share) contingent upon the
• $2.50 — common stock at prices between $1.00 to $2.50 per share) contingent upon the Consulta
• $100 million — cement of NFTs with proceeds of between $100 million and $500 million. The proceeds will be
• $500 million — th proceeds of between $100 million and $500 million. The proceeds will be used to purchase
• $12 billion — y no activity to a peak of an estimated $12 billion of face value of U.S. life settlement p
• $8 billion — d the growth in 2009, when an estimated $8 billion of face value of U.S. life insurance wa
• $300 million — shire Hathaway purchased a portfolio of $300 million (face value) in life insurance policies
• $2.57 billion — al life settlement transactions grew to $2.57 billion (face value) in 2013. In 2014 transacti
• $180 billion — arket potential for life settlements of $180 billion from 2014-2023, with an average volume
• $3 billion — with an average volume of approximately $3 billion per year in life settlement transaction

Filing Documents

• form10-k.htm (10-K) — 968KB
• ex10-47.htm (EX-10.47) — 2KB
• ex10-48.htm (EX-10.48) — 2KB
• ex10-49.htm (EX-10.49) — 2KB
• ex31.htm (EX-31) — 21KB
• ex32.htm (EX-32) — 8KB
• ex10-47_001.jpg (GRAPHIC) — 258KB
• ex10-48_001.jpg (GRAPHIC) — 466KB
• ex10-49_001.jpg (GRAPHIC) — 286KB
• 0001493152-24-025765.txt ( ) — 5130KB
• sund-20240331.xsd (EX-101.SCH) — 28KB
• sund-20240331_cal.xml (EX-101.CAL) — 35KB
• sund-20240331_def.xml (EX-101.DEF) — 118KB
• sund-20240331_lab.xml (EX-101.LAB) — 233KB
• sund-20240331_pre.xml (EX-101.PRE) — 188KB
• form10-k_htm.xml (XML) — 361KB

Business

Business 4 Item 1A.

Risk Factors

Risk Factors 7 Item 1B. Unresolved Staff Comments 25 Item 1C. Cybersecurity 25 Item 2.

Properties

Properties 25 Item 3.

Legal Proceedings

Legal Proceedings 25 Item 4. Mine Safety Disclosures 25 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 26 Item 6.

Selected Financial Data

Selected Financial Data 27 Item 7.

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 27 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 31 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 32 Item 9A.

Controls and Procedures

Controls and Procedures 32 Item 9B. Other Information 33 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections. 33 PART III Item 10. Directors, Executive Officers and Corporate Governance 34 Item 11.

Executive Compensation

Executive Compensation 37 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 39 Item 13. Certain Relationships and Related Transactions, and Director Independence 41 Item 14. Principal Accounting Fees and Services 43 PART IV Item 15. Exhibits and Financial Statement Schedules 44 Item 16. Form 10-K Summary 45

Signatures

Signatures 46 2 SUNDANCE STRATEGIES, INC. In this Annual Report, references to "Sundance," the "Company," "we," "us," "our" and words of similar import refer to Sundance Strategies, Inc., a Nevada corporation and its wholly-owned subsidiary, ANEW LIFE, INC., a Utah corporation ("ANEW LIFE"), unless the context requires otherwise. Information Concerning Forward-Looking Statements This annual report on Form 10-K contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, (the "Securities Act") and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act") that are based on management's beliefs and assumptions and on information currently available to management. For this purpose, any statement contained in this report that is not a statement of historical fact may be deemed to be forward-looking, including, but not limited to, statements relating to our future actions, intentions, plans, strategies, objectives, results of operations, cash flows and the adequacy of or need to seek additional capital resources and liquidity. Without limiting the foregoing, words such as " may ", " should ", " expect ", " project ", " plan ", " anticipate ", " believe ", " estimate ", " intend ", " budget ", " forecast ", " predict ", " potential ", " continue ", " should ", " could ", " will " or comparable terminology or the negative of such terms are intended to identify forward-looking statements, however, the absence of these words does not necessarily mean that a statement is not forward-looking. These statements by their nature involve known and unknown risks and uncertainties and other factors that may cause actual results and outcomes to differ materially depending on a variety of factors, many of which are not within our control. Such factors include, but are not limited to, economic conditions generally and in the industry in which we and our customers participate; competition within our i

Business

Business Our historical business model has focused on purchasing or acquiring life insurance policies and residual interests in or financial products tied to life insurance policies, including notes, drafts, acceptances, open accounts receivable and other obligations representing part or all of the sales price of insurance, life settlements and related insurance contracts being traded in the secondary marketplace, often referred to as the "life settlements market." We currently do not hold life settlement or life insurance policies but, rather, previously held a contractual right to receive the net insurance benefits, or "NIBs", from a portfolio of life insurance policies held by a third party ("the Owners" or "the Holders"). These NIBs represented an indirect, residual ownership interest in a portfolio of individual life insurance policies, and they allowed us to receive a portion of the settlement proceeds from such policies, after expenses related to the acquisition, financing, insuring and servicing of the policies underlying our NIBs have been paid. NIBs are generally sold by an entity that holds the underlying life settlement or life insurance policies, either directly or indirectly through a subsidiary, such an entity being referred to herein as a "Holder." A Holder, either directly or through a wholly owned subsidiary, purchases life insurance policies either from the insured or on the secondary market and aggregates them into a portfolio of policies. At the time of purchase, the Holder also (i) contracts with a service provider to manage the servicing of the policies until maturity, (ii) consider purchasing mortality re-insurance ("MRI") coverage under which payments will be made to the Holder in the event the insurance policies do not mature according to actuarial life expectancies, and (iii) arranges financing to cover the initial purchase of the insurance policies, the servicing of the life insurance policies until maturity and the payment of the M

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View this 10-K filing on SEC EDGAR