Company: SUND
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001641172-25-023411
Chunk: 10

Company: Sundance Strategies, Inc.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 1
Chunk 10
---
, 2025 (See Note 7 for further details on these warrants).

Related
Party Note Payable and Line of Credit Agreements

As
of June 30, 2025, and March 31, 2025, the Company owed $1,304,550, exclusive of accrued
interest, under the note payable and line of credit agreement with Kraig T. Higginson, Chairman of the Board of Directors and a stockholder.
As of June 30, 2025, the agreement allowed for borrowings of up to $4,600,000. After an
extension on the due date of this note payable subsequent to quarter end (see note 8) the note payable has a due date of the principal
and interest on the note of 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 three months ended June
30, 2025, the Company did not borrow and made no repayments of principal on this agreement. As of June
30, 2025, accrued interest on this note totaled $525,595. The total number of warrants issued to the related party lender was
5,212,775 as of June 30, 2025 (see Note 7 for further details on these warrants).

As
of June 30, 2025, and March 31, 2025, the Company owed $1,159,508, exclusive of accrued interest, under the note payable and lines of
credit agreement with Radiant Life, LLC, an entity partially owned by the Chairman of the Board of Directors. The agreement allows for
borrowings of up to $2,130,000. The note payable has a due date of the principal and interest on the note of 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 and is collateralized by the Company’s NIBS, if any. During the three months ended June 30, 2025, the Company
did not borrow and made no repayments of principal on this agreement. As of June 30, 2025, accrued interest on this agreement totaled
$570,921. The total number of warrants issued to the related party lender was