Company: SUND
Filing Date: 2025-06-30
Form Type: 10-K
Source: 0001641172-25-017143
Chunk: 362

Company: Sundance Strategies, Inc.
Filing Date: 2025-06-30
Form: 10-K
Item: Item 3
Chunk 362
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 event.

Warrants
to Purchase Common Stock

The
following table summarizes the changes in warrants outstanding of the Company during years ended March 31, 2025, and 2024:

 SCHEDULE OF WARRANT OUTSTANDING

    Number of Warrants  
    Weighted Average Exercise Price ($) 
  
    Outstanding at March 31, 2023 
     9,403,644  
     0.54 
  
    Granted 
     4,639,929  
     0.51 
  
    Outstanding at March 31, 2024 
     14,043,573  
     0.75 
  
    Granted 
     3,154,550  
     0.38 
  
    Expirations 
     (2,702,000) 
     0.40 
  
    Outstanding at March 31, 2025 
     14,496,123  
     0.73 

The
Company’s related party lenders consist of: the Chairman of the Board of Directors and a stockholder, Radiant Life, LLC and Mr.
Dickman, a board member and stockholder. These holders of the related party unsecured promissory notes hold agreements that provide each
related party with common stock warrants upon the lender’s extension of a maturity due date or upon the loaning of additional monies.
The number of warrants issued for an extension is based on the following formula for borrowings occurring on or before March 31, 2024:
10,000 warrants per month the due date is extended plus 1 warrant for every $2 of the principal balance outstanding (not including interest)
at the time of the extension (rounded to the nearest whole warrant). For borrowings occurring after March 31, 2024, the formula has been
adjusted to the following: 20,000 warrants per month the due date is extended plus 1 warrant for every $1 of the principal balance outstanding
(not including interest) at the time of the extension (rounded to the nearest whole warrant). Upon the loaning of additional monies,
the lenders will also require 2 warrants for each dollar loaned. All warrants issued under these terms vested immediately upon issuance,
have an exercise price approximately equivalent to the fair value of the Company’s common stock on the date of grant, and expire
5 years from the date of issuance.

During
the year ended March 31, 2025, the Company issued no