Company: SUND
Filing Date: 2025-06-30
Form Type: 10-K
Source: 0001641172-25-017143
Chunk: 259

Company: Sundance Strategies, Inc.
Filing Date: 2025-06-30
Form: 10-K
Item: Item 1C
Chunk 259
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 need for a valuation allowance against its deferred income tax assets at March 31, 2025. Factors considered in this
assessment include recent and expected future earnings and the Company’s liquidity and equity positions. The Company has placed
a 100% valuation allowance on the deferred tax assets. The deferred tax assets primarily relate to net operating loss carryforwards.

As
of March 31, 2025, the Company has U.S. federal net operating loss carryforwards of $30,513,827. These carry forwards are available to
offset future taxable income, if any, and begin to expire in 2026. The utilization of the net operating loss carry forwards is dependent
upon the tax laws in effect at the time the net operating loss carry forwards can be utilized and may be significantly limited based
on ownership changes within the meaning of section 382 of the Internal Revenue Code.

Under
FASB ASC 740-10-05-6, tax benefits are recognized only for the tax positions that are more likely than not to be sustained upon examination
by tax authorities. The amount recognized is measured as the largest amount of benefit that is greater than 50 percent likely to be realized
upon ultimate settlement. Unrecognized tax benefits are tax benefits claimed in the company’s tax return that do not meet these
recognition and measurement standards.

The
Company had no liabilities for unrecognized tax benefits and the Company has recorded no additional interest or penalties.

(11)
SUBSEQUENT EVENTS

On
May 17, 2025, subsequent to year end, the Company issued 1,399,508 warrants to issue shares of common stock in association with an extension
of notes payable with Radiant Life, LLC from November 30, 2025, to November 30, 2026.

F-12

Item
9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

None.

Item
9A. Controls and Procedures

(a)
Disclosure Controls and Procedures

We
maintain disclosure controls and procedures, as such term is defined in Rules 13a-15I and 15d-15(e) of the Securities Exchange Act of
1934 (the “Exchange Act”), that are designed to ensure that information required to be disclosed in the reports filed or
submitted under the Exchange Act, is recorded, processed, summarized, and reported within the time periods specified by the Commission’s
rules and forms.

We
carried out an evaluation, under the supervision and with