Company: SUND
Filing Date: 2025-06-30
Form Type: 10-K
Source: 0001641172-25-017143
Chunk: 499

Company: Sundance Strategies, Inc.
Filing Date: 2025-06-30
Form: 10-K
Item: Item 6
Chunk 499
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 31, 2024. As of March 31, 2025, the Company had access to draw an additional $4,265,942 on the notes payable, related
party, and $3,000,000 on the Convertible Debenture Agreement. Our monthly expenses average approximately $50,000, which includes the
salary of our employee, policy servicing expenses, consulting agreements and contract labor, general and administrative expenses, and
estimated legal and accounting expenses. Outstanding Accounts Payable as of March 31, 2025, totaled $446,885, and other accrued liabilities
totaled $880,073. We believe that the available capacity under our existing related party lines of credit, together with our current
capital resources, will be sufficient to fund our operating and working capital needs for at least the 12-month period following the
issuance of these financial statements.

26

2025
Cash Flows Compared to 2024 Cash Flows

For
the year ended March 31, 2025, we recorded net cash used in operating activities of $916,212, compared to $666,643 during the prior year.
The increase in cash used is primarily attributable to a lower non-cash loss on extinguishment of debt in the year ended March 31, 2025,
which resulted in a smaller adjustment to reconcile net loss to operating cash. This was partially offset by the absence of a non-cash
gain on the settlement of liabilities that had negatively impacted operating cash flow in the year ended March 31, 2024.

For
the years ended March 31, 2025, and 2024 no cash was used in or provided by investing activities.

During
the years ended March 31, 2025, and 2024 net cash provided by financing activities was $755,000, and $995,950, respectively. The Company
borrowed on new related party promissory notes and existing notes payable and lines-of-credit in the amounts of $180,950 during the year
ended March 31, 2024. Additionally, during the years ended March 31, 2025, and 2024, the Company received $805,000 and $850,000 in proceeds
raised by issuance of our common stock through private placement memorandums, respectively.

Debt

At
March 31, 2025, we owed $5,354,633, including accrued interest, for debt obligations. We owed