Sundance Strategies Files Q3 2024 10-Q

TL;DR

Sundance Strategies (UT) filed its Q3 2024 10-Q. Financials updated.

AI Summary

Sundance Strategies, Inc. filed its 10-Q for the period ending December 31, 2024. The filing covers the third quarter of their fiscal year, which ends March 31. The company is based in Provo, Utah, and operates in the insurance agents, brokers, and services sector.

Why It Matters

This filing provides investors with an update on Sundance Strategies' financial performance and operational status for the third quarter of fiscal year 2024.

Risk Assessment

Risk Level: low — This is a routine quarterly filing with no immediate red flags or significant negative news.

Key Players & Entities

• Sundance Strategies, Inc. (company) — Filer of the 10-Q
• 2024-12-31 (date) — End of reporting period
• 2025-02-14 (date) — Filing date
• Provo, UT (location) — Company address

FAQ

Key Financial Figures

• $0.001 — nge on which registered Common Stock, $0.001 par value SUND OTCQB Indicate by

Filing Documents

• form10-q.htm (10-Q) — 537KB
• ex4-1.htm (EX-4.1) — 15KB
• ex31.htm (EX-31) — 32KB
• ex32.htm (EX-32) — 8KB
• 0001493152-25-006815.txt ( ) — 2798KB
• sund-20241231.xsd (EX-101.SCH) — 23KB
• sund-20241231_cal.xml (EX-101.CAL) — 28KB
• sund-20241231_def.xml (EX-101.DEF) — 108KB
• sund-20241231_lab.xml (EX-101.LAB) — 196KB
• sund-20241231_pre.xml (EX-101.PRE) — 162KB
• form10-q_htm.xml (XML) — 303KB

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION

Financial Statements (Unaudited)

Item 1. Financial Statements (Unaudited) 3 Condensed Consolidated Balance Sheets as of December 31, 2024 (Unaudited) and March 31, 2024 3 Condensed Consolidated Statements of Operations for the three- and nine-months ended December 31, 2024, and 2023 (Unaudited) 4 Condensed Consolidated Statements of Stockholders' Deficit for the nine months ended December 31, 2024, and 2023 (Unaudited) 5 Condensed Consolidated Statements of Cash Flows for the nine months ended December 31, 2024, and 2023 (Unaudited) 6 Notes to Condensed Consolidated Financial Statements December 31, 2024 (Unaudited) 7

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

Item 2. Management's Discussion and Analysis of Financial Condition And Results of Operations 13

Quantitative and Qualitative Disclosure about Market Risk

Item 3. Quantitative and Qualitative Disclosure about Market Risk 16

Controls and Procedures

Item 4. Controls and Procedures 16

— OTHER INFORMATION

PART II — OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 17

Risk Factors

Item 1A. Risk Factors 17

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 17

Defaults upon Senior Securities

Item 3. Defaults upon Senior Securities 17

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 17

Other Information

Item 5. Other Information 17

Exhibits

Item 6. Exhibits 18

Signatures

Signatures 20 2 PART I — FINANCIAL INFORMATION Item 1. Financial Statements (Unaudited) SUNDANCE STRATEGIES, INC. AND SUBSIDIARY Condensed Consolidated Balance Sheets December 31, March 31, 2024 2024 (UNAUDITED) ASSETS Current Assets Cash and cash equivalents $ 259,620 $ 329,860 Prepaid expenses and other assets 13,650 9,075 Total Current Assets 273,270 338,935 Total Assets $ 273,270 $ 338,935 LIABILITIES AND STOCKHOLDERS' DEFICIT Current Liabilities Accounts payable $ 437,360 $ 447,862 Accrued expenses 1,345,301 433,201 Current portion of notes payable 300,000 300,000 Current portion of notes payable, related parties 1,985,508 50,000 Current portion of notes payable 1,985,508 50,000 Stock repurchase payable 400,000 400,000 Total Current Liabilities 4,468,169 1,631,063 Long-Term Liabilities Accrued expenses 601,301 1,357,739 Notes payable, related parties, net of current portion 1,304,550 3,290,058 Notes payable, related parties, net of current portion 1,304,550 3,290,058 - Total Long-Term Liabilities 1,905,851 4,647,797 Total Liabilities 6,374,020 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 ; 43,063,441 shares issued and outstanding as of December, 31 2024; and 42,258,441 shares issued and oustanding as of March, 31 2024 43,064 42,259 Additional paid-in capital 31,718,877 30,914,682 Accumulated deficit ( 37,862,691 ) ( 36,896,866 ) Total Stockholders' Deficit ( 6,100,750 ) ( 5,939,925 ) Total Liabilities and Stockholders' Deficit $ 273,270 $ 338,935 The accompanying notes are an integral part of these condensed consolidated financial statements. 3 SUNDANCE STRATEGIES, INC. AND SUBSIDIARY Condensed Consolidated Statements of Operations (UNAUDITED) 2024 2023 2024 2023 Three Mo

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- and nine-months ended December 31, 2024, or 2023, because to do so would be anti-dilutive. Potentially dilutive securities outstanding as of December 31, 2024, and 2023, are comprised of warrants convertible into 14,203,573 and 12,008,544 shares of common stock, respectively. New Accounting Pronouncements 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 December 31, 2024, the Company had $ 259,620 of cash assets, compared to $ 329,860 as of March 31, 2024. As of December 31, 2024, the Company had access to draw an additional $ 4,265,942 on the notes payable

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