Company: SUND
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001641172-25-023411
Chunk: 42

Company: Sundance Strategies, Inc.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 8
Chunk 42
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our inception our operations have been primarily financed through sales of equity instruments, debt financing, lines of credit and notes
payable from related parties and the issuance of convertible debentures. As of June 30, 2025, we had $55,266 of cash, compared to $168,648
as of March 31, 2025. As of June 30, 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 are anticipated to be approximately $45,000, which includes
salaries of our employee, policy servicing expenses, consulting agreements and contract labor, general and administrative expenses, estimated
legal and accounting expenses. Outstanding Accounts Payable as of June 30, 2025, totaled $448,988, and other accrued liabilities totaled
$2,144,271. We believe that our availability under our existing lines of credit with related parties, our existing capital resources,
together with the issuance of additional notes payable and convertible debentures will be sufficient to fund our operating working capital
requirements for at least the next 12 months, or through August 2026.

14

Debt

At
June 30, 2025, we owed $5,443,352, including accrued interest, for debt obligations. We owed $3,290,058 in principal pursuant to notes
payable and lines-of-credits from related parties, $300,000 in other notes payable, and had fully paid off the principal owing on the
8% Convertible Debenture. As of June 30, 2025, a line-of-credit to a third party had a balance of $1,159,508 due on November 30, 2026,
or when the Company completes a successful equity raise, at which time principal and interest is due in full. A line-of-credit to a second
third party had a principal balance of $1,304,550 and is currently extended due on November 30, 2026. As of June 30, 2025, unsecured
promissory notes had principal balances totaling $826,000 and are due on November 30, 2025. The convertible debenture agreement, which
has no principal balance due as of June 30, 2025, is open through August 31, 2026.