Company: SUND
Filing Date: 2025-06-30
Form Type: 10-K
Source: 0001641172-25-017143
Chunk: 198

Company: Sundance Strategies, Inc.
Filing Date: 2025-06-30
Form: 10-K
Item: Item 1B
Chunk 198
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8, and in conjunction with the extension on January 24, 2025, the company agreed to
provide the Chairman of the Board of Directors and a stockholder, with warrants for 1,544,550 shares of common stock (see Note 8) vested
immediately upon issuance, having exercise prices of $0.41 per share, and a 5-year exercise window from the dates of issuance. The total
number of warrants issued to the related party lender as of March 31, 2025 is 5,462,775 (see Note 8 for further details on these warrants).

As
of March 31, 2025, and 2024, the Company owed $1,159,508
in principal, under the note payable and lines of credit agreement
with Radiant Life, LLC. The agreement allows for borrowings of up to $2,130,000.
On
February 1, 2024, and again subsequent to the March 31, 2025 fiscal year end, 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 later November 30, 2026, or at the immediate time
when alternative financing or other proceeds are received. The
note payable and line of credit agreement incurs interest at 7.5%
per annum. During the years ended March 31, 2025, and 2024 the Company borrowed $0
and $40,000,
respectively of principal under this agreement and made no repayments of principal. On July 5, 2024, the company made a payment on accumulated
interest of $136,800.
As of March 31, 2025, accrued interest on this agreement totaled $538,868.
As per the provision outlined in Note 8, and in conjunction with the $40,000
borrowed under the note payable and lines of credit agreement
during the year ended March 31, 2024, the Company also agreed to provide Radiant Life, LLC with warrants for 80,000
shares of common stock vested immediately upon issuance, having
exercise price of $1.05,
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 February
1, 2024, the Company also agreed to provide Radiant