Company: SUND
Filing Date: 2025-06-30
Form Type: 10-K
Source: 0001641172-25-017143
Chunk: 549

Company: Sundance Strategies, Inc.
Filing Date: 2025-06-30
Form: 10-K
Item: Item 7
Chunk 549
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167 and $531,406 during the years ended March 31, 2025, and 2024, respectively. A significant
portion of these expenses were professional fees, payroll, and rent. The increase in general and administrative expenses is due to increased
professional fees during 2025.

Other
Income and Expenses

During
the years ended March 31, 2025 and 2024, we recognized losses on extinguishment of debt totaling $435,199 and $1,047,729, respectively,
in connection with related party debt arrangements. The decrease in loss for the year ended March 31, 2025, reflects a lower volume of
debt extensions or modifications that resulted in extinguishment accounting treatment compared to the prior year.

During
the years ended March 31, 2025 and 2024, we recognized gains on the settlement of debt of $0 and $290,000, respectively. The decline
in recognized gains during the year ending March 31, 2025 was due to the absence of any debt settlements or negotiated reductions with
vendors.

For
the years ended March 31, 2025, and 2024, interest expense totaled $349,016 and $410,856 , respectively. The decrease in interest expense
was a result of less amortization of debt discount during 2025.

For
the years ended March 31, 2025, and 2024, expenses incurred pursuing potential financing alternatives totaled $215,000 and $135,000,
respectively. The increase in financing-related expenses is primarily attributable to increased costs incurred in connection with bond
structuring and placement efforts.

Income
Taxes

During
the years ended March 31, 2025, and 2024, the Company recorded a net loss before income taxes of $1,603,382 and $1,834,991, respectively.
The reduction in net loss is largely due to decrease in losses from extinguishing debt, partially offset by the lack of gain on settlement
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 March 31, 2025, we had $168,648 of cash, compared to
$329,860 as of March 31, 2024. As of March 31, 2025,