Company: SUND
Filing Date: 2025-06-30
Form Type: 10-K
Source: 0001641172-25-017143
Chunk: 140

Company: Sundance Strategies, Inc.
Filing Date: 2025-06-30
Form: 10-K
Item: Item 1A
Chunk 140
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 is based on the lowest level input that
is significant to the fair value measurement in its entirety.

The
Company did not have any transfers of assets and liabilities between Levels 1, 2 and 3 of the fair value measurement hierarchy during
the years ended March 31, 2025, and 2024.

The
Company’s recorded values of cash and cash equivalents, accounts payable and accrued liabilities approximate their fair values
based on their short-term nature. The recorded values of the Notes Payable, Related Parties and Convertible Debenture approximates the
fair values as the interest rate approximates market interest rates.

(3)
NEW ACCOUNTING PRONOUNCEMENTS

The
Company has reviewed all other recently issued, but not yet adopted, accounting standards, in order to determine their effects, if any,
on its results of operations, financial position or cash flows. Based on that review, the Company believes that none of these pronouncements
will have a significant effect on its financial statements.

    F-7

(4)
CASH AND CASH EQUIVALENTS

Cash
and cash equivalents consist principally of currency on hand and demand deposits at commercial banks. The Company had $168,648 and $329,860
in cash and cash equivalents as of March 31, 2025, and 2024, respectively. The Company maintains non-interest-bearing accounts at two
financial institutions. The accounts at these institutions are insured by the Federal Deposit Insurance Corporation (FDIC) up to $250,000.
As of March 31, 2025, and 2024, the Company had balances in excess of FDIC insured amounts at these institutions $0 of and $79,779, respectively.

(5)
NOTES PAYABLE

On
April 6, 2021, the Company borrowed $300,000 under an unsecured promissory note with Satco International, Ltd. This promissory note bears
interest at a rate of 8% annually and was due January 6, 2022. In conjunction with this note, the Company issued warrants for 1,000,000
shares of common stock, exercisable at $1.00 per share and expiring in 3 years from the date of the promissory note. On June
9, 2023, the unsecured promissory note with Satco International, Ltd. was amended to extend the
due date from April 6, 2023, to August