Company: SUND
Filing Date: 2025-06-30
Form Type: 10-K
Source: 0001641172-25-017143
Chunk: 288

Company: Sundance Strategies, Inc.
Filing Date: 2025-06-30
Form: 10-K
Item: Item 2
Chunk 288
---
 increase in cash used is primarily attributable to a lower non-cash loss on extinguishment of debt in the year ended March 31, 2025,
which resulted in a smaller adjustment to reconcile net loss to operating cash. This was partially offset by the absence of a non-cash
gain on the settlement of liabilities that had negatively impacted operating cash flow in the year ended March 31, 2024.

For
the years ended March 31, 2025, and 2024 no cash was used in or provided by investing activities.

During
the years ended March 31, 2025, and 2024 net cash provided by financing activities was $755,000, and $995,950, respectively. The Company
borrowed on new related party promissory notes and existing notes payable and lines-of-credit in the amounts of $180,950 during the year
ended March 31, 2024. Additionally, during the years ended March 31, 2025, and 2024, the Company received $805,000 and $850,000 in proceeds
raised by issuance of our common stock through private placement memorandums, respectively.

Debt

At
March 31, 2025, we owed $5,354,633, including accrued interest, for debt obligations. We owed $3,290,058 in principal pursuant to notes
payable and lines-of-credits from related parties and $300,000 in other notes payable. As of March 31, 2025, one note payable had a principal
balance of $1,159,508 and has been extended to be due on November 30, 2026 or when the Company completes a successful equity raise (if
earlier than the due date), at which time principal and interest is due in full. The second note payable and line-of-credit had a principal
balance of $1,304,550, and the line of credit and has been extended to be due November 30, 2026. The third series of related-party promissory
notes had a total principal balance of $826,000 and is due on November 30, 2025. The convertible debenture agreement, which has no principal
balance due as of March 31, 2025, is open through August 31, 2026. As of June 30, 2025, there was $4,265,942  available under the
lines-of-credit