Company: SUND
Filing Date: 2025-06-30
Form Type: 10-K
Source: 0001641172-25-017143
Chunk: 360

Company: Sundance Strategies, Inc.
Filing Date: 2025-06-30
Form: 10-K
Item: Item 3
Chunk 360
---
 2025, accrued interest on this agreement totaled $538,868.
As per the provision outlined in Note 8, and in conjunction with the $40,000
borrowed under the note payable and lines of credit agreement
during the year ended March 31, 2024, the Company also agreed to provide Radiant Life, LLC with warrants for 80,000
shares of common stock vested immediately upon issuance, having
exercise price of $1.05,
and a 5-year
exercise window from the dates of issuance. As per the provision outlined in Note 8, and in conjunction with the extension on February
1, 2024, the Company also agreed to provide Radiant Life, LLC with warrants for 699,754
shares of common stock vested immediately upon issuance, having
exercise price of $1.05,
and a 5-year
exercise window from the dates of issuance. As per the provision outlined in Note 8, and in conjunction with the extension subsequent
to March 31, 2025, the Company also agreed to provide Radiant Life, LLC with warrants for 1,399,508
shares of common stock vested immediately upon issuance, having
exercise price of $0.41,
and a 5-year
exercise window from the dates of issuance. The total number of warrants issued to the related party lender was 3,229,016
as of March 31, 2025 (see Note 8 for further details).

(7)
CONVERTIBLE DEBENTURE AGREEMENT

The
Company has entered into an 8% convertible debenture agreement with Satco International, Ltd., that allows for borrowings of up to $3,000,000.
The holder originally had the option to convert the outstanding principal and accrued interest to unregistered, restricted common stock
of the Company on June 2, 2016. Per the agreement, the number of shares issuable at conversion shall be determined by the quotient obtained
by dividing the outstanding principal and accrued and unpaid interest by 90% of the 90-day average closing price of the Company’s
common stock from the date the notice of conversion is received; and the price at which the Debenture may be converted will be no lower
than $1.00 per share. The original maturity date was June 2, 2016, but was later extended, through a series of extensions, to August
31, 2026. On January 3,