Company: SUND
Filing Date: 2025-06-30
Form Type: 10-K
Source: 0001641172-25-017143
Chunk: 366

Company: Sundance Strategies, Inc.
Filing Date: 2025-06-30
Form: 10-K
Item: Item 3
Chunk 366
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5, and 2024 were as follows:

 SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES

    2025  
    2024 
  
    Deferred Tax assets: 

    Net operating loss carry forwards 
    $8,080,869  
    $7,620,722 
  
    Stock and warrant compensation 
     870,911  
     479,708 
  
    Accruals 
     58,201  
     - 
  
    Valuation allowance 
     (9,009,981) 
     (8,100,430)
  
    Net deferred tax asset 
    $-  
    $- 

The
Company assesses the 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,