Company: SUND
Filing Date: 2025-06-30
Form Type: 10-K
Source: 0001641172-25-017143
Chunk: 830

Company: Sundance Strategies, Inc.
Filing Date: 2025-06-30
Form: 10-K
Item: Item 8
Chunk 830
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4. In conjunction with this specific loan event, the agreement awarded Radiant Life, LLC with 50,000 common stock warrants, which
had an exercise price of $1.05, and expired in 5 years (see Note 8). The principal and accrued interest of $13,172 was fully paid on
July 2, 2024, and immediately closed.

    F-8

Related
Party Note Payable and Line of Credit Agreements

As
of March 31, 2025, and 2024, the Company owed $1,304,550, exclusive of accrued interest, under the note payable and line of credit agreement
with Kraig T. Higginson, Chairman of the Board of Directors and a stockholder. On January 26, 2024, and again on January 24, 2025, the
related party note payable and line of credit agreement was amended to extend the due date from November 30, 2024, to November 30, 2025,
and then to November 30, 2026, or at the immediate time when alternative financing or other proceeds are received. As of March 31, 2025,
the agreement allowed for borrowings of up to $4,600,000. During the year ended March 31, 2024, the Company borrowed $140,950 in principal
and made no repayments of principal on this agreement. During the year ended March 31, 2025, the Company made no borrowings nor repayments
of principal on this agreement. The note payable and line of credit agreement incurs interest at 7.5% per annum. As of March 31, 2025,
accrued interest on this note totaled $501,202. As per the provision outlined in Note 8, and in conjunction with $140,950 borrowed during
the year ended March 31, 2024, the Company also agreed to provide the Chairman of the Board of Directors and a stockholder, with warrants
for 281,900 shares of common stock vested immediately upon issuance, having exercise prices of $1.05 per share, 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 January 26, 2024,
the company agreed to provide the Chairman of the Board of Directors and a stockholder, with warrants for 772,275 shares of