Company: SUND
Filing Date: 2025-06-30
Form Type: 10-K
Source: 0001641172-25-017143
Chunk: 525

Company: Sundance Strategies, Inc.
Filing Date: 2025-06-30
Form: 10-K
Item: Item 6
Chunk 525
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 weakness is a deficiency, or combination of deficiencies, in internal control over financial
reporting, such that there is a reasonable possibility that a material misstatement of the Company’s annual or interim financial
statements will not be prevented or detected on a timely basis. Management determined that the following material weaknesses existed
as of March 31, 2025: The design and operating effectiveness of our control environment and risk assessment, control activities and monitoring
activities were inadequate to ensure that complex accounting matters relating to the valuation of equity-based compensation instruments
are always properly accounted for and reviewed in a timely manner.

30

Our
principal executive and principal financial officer is in the process of performing a review of our processes and controls over complex
accounting matters relating to the valuation of equity-based compensation instruments.

Notwithstanding
the identified material weakness, the Company believes the financial statements included in this Annual Report on Form 10-K fairly represent
in all material respects our financial condition, results of operations and cash flows at and for the periods presented in accordance
with accounting principles generally accepted in the United States of America.

This
Annual Report does not include an attestation report of our registered public accounting firm regarding our internal controls over financial
reporting. Management’s report was not subject to attestation by our registered public accounting firm pursuant to rules of the
SEC that permit us to provide only management’s report in this Annual Report.

(d)
Changes in Internal Control Over Financial Reporting

Other
than described above in Item 9A. Controls and Procedures, there were no changes in our internal control over financial reporting that
occurred during the fourth quarter of the year ended March 31, 2025, that have materially affected, or are reasonably likely to materially
affect, our internal control over financial reporting.

Item
9B. Other Information

Warrant
Issuances

During
the year ended March 31, 2025, the Company issued no new warrants in conjunction with monies borrowed during the period (see Note 8 to
the financial statements included in this report).

During
the year ended March 31, 2025, the Company issued 1,544,550 warrants to the Chairman of the Board of Directors in conjunction with an
extension of the maturity dates during the period (see Note 8 to the financial statements included in this report) per the terms outlined
above (see Note 11 to the financial statements included in this report for information on warrants issued subsequent to fiscal year end).
The exercise price of