Company: SUND
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001641172-25-023411
Chunk: 37

Company: Sundance Strategies, Inc.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 8
Chunk 37
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 issued 1,610,000 warrants to equity investors, which
vested immediately and expire 5 years from the date of issuance, in conjunction with a purchase of 805,000 shares of the Company’s
common stock. The exercise price of these warrants was $0.35.

During
the three months ended June 30, 2025, 250,000 warrants expired. These warrants were issued in 2020 in association with monies loaned
to the Company by the Chairman of the Board of Directors. These warrants had an exercise price of $0.05.

During
the year ended March 31, 2025, 2,702,000 warrants that had been previously issued expired. Of these warrants, 1,000,000 had an exercise
price of $1.00 and were issued in 2021 in association with the unsecured promissory note agreement that the Company has in place with
Satco International, 450,000 had an exercise price of $0.05 and were issued in 2019 in association with the extension of notes payable
to Mr. Dickman, 702,000 had an exercise price of $0.05 and were issued in 2020 in association with monies loaned to the Company by Mr.
Dickman, and 500,000 had an exercise price of $0.05 and were issued in 2020 in association with the extension of notes payable to the
Chairman of the Board of Directors.

    11

 SCHEDULE OF WARRANT OUTSTANDING

    Number of Warrants  
    Weighted Average Exercise Price ($) 
  
    Outstanding at March 31, 2024 
     14,043,573  
     0.75 
  
    Granted 
     3,154,550  
     0.38 
  
    Reductions 
     (2,702,000) 
     0.40 
  
    Outstanding at March 31, 2025 
     14,496,123  
     0.73 
  
    Granted 
     1,399,508  
     0.41 
  
    Reductions 
     (250,000) 
     0.05 
  
    Outstanding at June 30, 2025 
     15,645,631  
     0.72 

The
following table summarizes the warrants issued and outstanding as of June 30,