Sundance Strategies Files 10-Q for Q2 2024

TL;DR

Sundance Strategies dropped its Q2 10-Q. Financials are in.

AI Summary

Sundance Strategies, Inc. filed its 10-Q for the period ending June 30, 2024. The filing details financial information for the second quarter of 2024, including balance sheet items and statements of operations. Specific financial figures and comparative data from prior periods are presented.

Why It Matters

This 10-Q filing provides investors with a quarterly update on Sundance Strategies, Inc.'s financial performance and position, crucial for assessing the company's health and future prospects.

Risk Assessment

Risk Level: medium — The filing is a standard quarterly report, but the lack of specific financial performance details in the provided text makes it difficult to assess the company's current operational health and associated risks.

Key Numbers

• 2024-06-30 — End of Reporting Period (Indicates the end date for the financial data presented in the 10-Q.)
• 2024-08-13 — Filing Date (The date the 10-Q was officially submitted to the SEC.)
• 2023-04-01 to 2023-06-30 — Prior Year Q2 Period (Comparative period for financial results.)
• 2024-04-01 to 2024-06-30 — Current Year Q2 Period (The primary period for which financial results are reported.)

Key Players & Entities

• Sundance Strategies, Inc. (company) — Filer of the 10-Q
• 20240630 (date) — End of reporting period
• 20240813 (date) — Filing date
• 0001171838 (company) — Central Index Key for Sundance Strategies, Inc.

FAQ

Key Financial Figures

• $0.001 — nge on which registered Common Stock, $0.001 par value SUND OTCQB Indicate by
• $2 — te is extended plus 1 warrant for every $2 of the principal balance outstanding (n

Filing Documents

• form10-q.htm (10-Q) — 559KB
• ex4-1.htm (EX-4.1) — 16KB
• ex31-1.htm (EX-31.1) — 32KB
• ex32.htm (EX-32) — 8KB
• 0001493152-24-031412.txt ( ) — 2829KB
• sund-20240630.xsd (EX-101.SCH) — 25KB
• sund-20240630_cal.xml (EX-101.CAL) — 27KB
• sund-20240630_def.xml (EX-101.DEF) — 108KB
• sund-20240630_lab.xml (EX-101.LAB) — 201KB
• sund-20240630_pre.xml (EX-101.PRE) — 161KB
• form10-q_htm.xml (XML) — 301KB

Signatures

Signatures 19 2 PART I — FINANCIAL INFORMATION Item 1. Financial Statements (Unaudited) SUNDANCE STRATEGIES, INC. AND SUBSIDIARY Consolidated Balance Sheets June 30, 2024 March 31, (UNAUDITED) 2024 ASSETS Current Assets Cash and cash equivalents $ 185,259 $ 329,860 Prepaid expenses and other assets 5,520 9,075 Total Current Assets 190,779 338,935 Total Current Assets $ 190,779 $ 338,935 LIABILITIES AND STOCKHOLDERS' DEFICIT Current Liabilities Accounts payable $ 452,604 $ 447,862 Accrued expenses 377,987 433,201 Current portion of notes payable - 300,000 Current portion of notes payable, related parties 50,000 50,000 Current portion of notes payable 50,000 50,000 Stock repurchase payable 400,000 400,000 Total Current Liabilities 1,280,591 1,631,063 Long-Term Liabilities Accrued expenses 1,516,484 1,357,739 Notes payable 300,000 - Notes payable, related parties, net of current portion, net of debt discount 3,290,058 3,290,058 Notes payable, net of current portion, net of debt discount 3,290,058 3,290,058 - - Total Long-Term Liabilities 5,106,542 4,647,797 Total Liabilities 6,387,133 6,278,860 Stockholders' Deficit Preferred stock, authorized 10,000,000 shares, par value $ 0.001 ; - 0 - shares issued and outstanding - - Common stock, authorized 500,000,000 shares, par value $ 0.001 ; 42,438,441 shares issued and outstanding as of June, 30 2024; and 42,258,441 shares issued and outstanding as of March, 31 2024 42,439 42,259 Additional paid-in capital 31,094,502 30,914,682 Accumulated deficit ( 37,333,295 ) ( 36,896,866 ) Total Stockholders' Deficit ( 6,196,354 ) ( 5,939,925 ) Total Liabilities and Stockholders' Deficit $ 190,779 $ 338,935 The accompanying notes are an integral part of these condensed consolidated financial statements. 3 SUNDANCE STRATEGIES, INC. AND SUBSIDIARY Consolidated (UNAUDITED) 2024 2

Financial Statements in the Company's most recent Form 10-K, except as discussed below

Financial Statements in the Company's most recent Form 10-K, except as discussed below. Basic and Diluted Net Income (Loss) Per Common Share Basic net loss per common share is computed by dividing net loss by the weighted average number of common shares outstanding during the periods presented using the treasury stock method. Diluted net loss per common share is computed by including common shares that may be issued of potential dilutive shares resulting from convertible debt agreements and common stock warrants. Potentially dilutive shares resulting from convertible debt agreements are evaluated using the if-converted method. Potentially dilutive securities are not included in the calculation of diluted net loss per share for the three months ended June 30, 2024, or 2023, because to do so would be anti-dilutive. Potentially dilutive securities outstanding as of June 30, 2024, and 2023, are comprised of warrants convertible into 13,403,573 and 10,170,544 shares of common stock, respectively. New Accounting Pronouncements Not Yet Adopted The Company has reviewed all recently issued, but not yet adopted, accounting standards, in order to determine their effects, if any, on its results of operations, financial position or cash flows. Based on that review, the Company believes that none of these pronouncements will have a significant effect on its financial statements. (2) LIQUIDITY REQUIREMENTS Since the Company's inception on January 31, 2013, its operations have been primarily financed through sales of equity, debt financing from related parties, and the issuance of notes payable and convertible debentures. As of June 30, 2024, the Company had $ 185,259 of cash assets, compared to $ 329,860 as of March 31, 2024. As of June 30, 2024, the Company had access to draw an additional $ 4,265,942 on the notes payable, related

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View this 10-Q filing on SEC EDGAR