Company: SUND
Filing Date: 2025-06-30
Form Type: 10-K
Source: 0001641172-25-017143
Chunk: 619

Company: Sundance Strategies, Inc.
Filing Date: 2025-06-30
Form: 10-K
Item: Item 8
Chunk 619
---
 continued support, by way of either extensions of due dates, or increases in lines-of-credit. As mentioned above, the Company
also continues to evaluate other debt and equity financing opportunities.

The
accompanying financial statements have been prepared on a going concern basis under which the Company is expected to be able to realize
its assets and satisfy its liabilities in the normal course of business.

    F-11

(10)
INCOME TAXES

The
Company provides for income taxes under ASC 740, Income Taxes. ASC 740 requires the use of an asset and liability approach in accounting
for income taxes. Deferred tax assets and liabilities are recorded based on the differences between the financial statement and tax bases
of assets and liabilities and the tax rates in effect when these differences are expected to reverse.

The
Company recorded $0 provision for income taxes for the years ended March 31, 2025, and 2024.

The
income tax provision differs from the amount of income tax determined by applying the U.S. federal tax rate of 21% to pretax income from
continuing operations for the years ended March 31, 2025, and 2024, due to the following:

 SCHEDULE OF COMPONENTS OF INCOME TAX EXPENSE (BENEFIT)

    2025  
    2024 

    Income tax benefit at U. S. federal statutory rates: 
    $(336,710) 
    $(385,348)
  
    State tax, net of federal benefit 
    $158 
     (67,408)
  
    Permanent and other differences 
     (436,789) 
     258,483 
  
    Change in valuation allowance 
     773,341  
     194,273 
  
    Other 
     -  
     - 
  
    Income Tax 
    $-  
    $- 

The
tax effects of significant items comprising the Company’s net deferred taxes as of March 31, 2025, and 2024 were as follows:

 SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES

    2025  
    2024 
  
    Deferred Tax assets: 

    Net operating loss carry forwards 
    $8,080,869  
    $7,620,722 
  
    Stock and warrant compensation 
     870,911  
     479,708 
  
    Accruals