Company: SUND
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001493152-25-006815
Chunk: 9

Company: Sundance Strategies, Inc.
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 1
Chunk 9
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, general and administrative expenses, and legal and accounting
expenses. In addition to the monthly operating expenses, the Company continues to pursue other debt and equity financing opportunities,
and as a result, financing expenses of $200,000 and $105,000 were incurred during the nine months ended December 31, 2024, and 2023, respectively.
As management continues to explore additional financing alternatives, beginning January 1, 2025, the Company is expected to spend up
to an additional $300,000 on these efforts. Outstanding Accounts Payable as of December 31, 2024, totaled $437,360. Management has concluded
that its existing capital resources and availability under its existing debt agreements with related parties will be sufficient to fund
its operating working capital requirements for at least the next 12 months from the issuance of these financial statements, or through
February 2026. Related parties have given assurance that their continued support, by way of either extensions of due dates, or increases
in lines-of-credit, can be relied on. As mentioned above, the Company also continues to evaluate other debt and equity financing opportunities.

The
accompanying financial statements have been prepared on a going concern basis under which the Company is expected to be able to realize
its assets and satisfy its liabilities in the normal course of business.

    8

(3)
FAIR VALUE MEASUREMENTS

As
defined by ASC Topic 820, “Fair Value Measurements and Disclosures” (“ASC 820”), fair value is the price that
would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement
date. ASC 820 also requires the consideration of differing levels of inputs in the determination of fair values.

Those
levels of input are summarized as follows:

    ●
    Level
    1: Quoted prices in active markets for identical assets and liabilities.

    ●
    Level
    2: Observable inputs other than Level 1 quoted prices, such as quoted prices for similar instruments in active markets, quoted prices
    for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant
    assumptions are observable in the market.

    ●
    Level
    3: Unobservable inputs that are supported by little or no market activity. Level 3 assets and liabilities include financial instruments
    whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques as well as