Company: SUND
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022380
Chunk: 56

Company: Sundance Strategies, Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 2
Chunk 56
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 is due to the loss on extinguishment of debt.

14

Six-Months
Ended September 30, 2025, Compared with Six-Months Ended September 30, 2024

Interest
Income

Due
to the Company not holding NIBs, no interest income was recorded for the six months ended September 30, 2025, or 2024.

General
& Administrative Expenses

General
and administrative expenses totaled $230,553, and $359,944 during the six months ended September 30, 2025, and 2024, respectively. A
significant portion of these expenses were professional fees and payroll costs.

Other
Income and Expenses

During
the six months ended September 30, 2025, we recognized $388,511, as a loss on extinguishment of debt in conjunction with related party
debt.

During
the six months ended September 30, 2025, and 2024, interest expense accrued in the amount of $179,550 and $174,888, respectively.

During
the six months ended September 30, 2025, and 2024, other expenses related to pursuing potential financing alternatives were $0, and $170,000,
respectively. These expenses are related to additional consultant fees in pursuit of bonds.

Income
Taxes

During
the six months ended September 30, 2025, and 2024, the Company recorded net loss before income taxes of $798,614, and $704,832, respectively,
and had no income tax expense or benefit as a result of a full valuation allowance on the net deferred tax asset. The relative increase
in net loss before income taxes is due to the loss on extinguishment of debt.

Liquidity
and Capital Resources

Since
our inception our operations have been primarily financed through sales of equity instruments, debt financing, lines of credit and notes
payable from related parties and the issuance of convertible debentures. As of September 30, 2025, we had $484 of cash, compared to $168,648
as of March 31, 2025. As of September 30, 2025, the Company had access to draw an additional $275,000 on notes payable; $4,265,942 on
the notes payable, related party and $3,000,000 on the Convertible Debenture Agreement. Our monthly expenses are anticipated to be approximately
$40,000,