Company: SUND
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001493152-25-006815
Chunk: 33

Company: Sundance Strategies, Inc.
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 8
Chunk 33
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 of assets once the
bond is retired.

Significant
Accounting Policies

There
have been no changes to the significant accounting policies of the Company from the information provided in Note 2 of the Notes to Consolidated
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
subject to existing rights with dilutive potential, when applicable. Potential dilutive common stock equivalents are primarily comprised
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, related party (see Note 5) and $3,000,000 on the Convertible Debenture Agreement (See Note 6). For the