Company: SUND
Filing Date: 2025-06-30
Form Type: 10-K
Source: 0001641172-25-017143
Chunk: 433

Company: Sundance Strategies, Inc.
Filing Date: 2025-06-30
Form: 10-K
Item: Item 4
Chunk 433
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 non-interested board members are guided by their fiduciary duty to our stockholders. The Board of Directors
does not have any written or oral policies or procedures regarding the review, approval and ratification of transactions with related
person. Additionally, each of our directors and executive officers are required to annually complete a directors’ and officers’
questionnaire that elicits information about related person transactions. Approval of a related person transaction is provided either
verbally or in writing.

Related
Person Transactions

Other
than as described below, there were no material transactions, or series of similar transactions, during our last two fiscal years, or
any currently proposed transactions, or series of similar transactions, to which we or any of our subsidiaries was or is to be a party,
in which the amount involved exceeded the lesser of $120,000 or 1% of the average of our total assets at year-end for the last two completed
fiscal years and in which any director, executive officer or any security holder who is known to us to own of record or beneficially
more than 5% of any class of our common stock, or any member of the immediate family of any of the foregoing persons, had an interest,
except as stated below.

As
of March 31, 2025, and 2024, the Company had borrowed $3,290,058 and $3,340,058, respectively, excluding accrued interest, from related
parties. The interest associated with the Notes Payable, Related Party of $1,544,678, and $1,369,662 is recorded on the balance sheet
as an Accrued Expense obligation at March 31, 2025 and March 31, 2024, respectively.

38

Warrants
to Purchase Common Stock

The
Company’s related party lenders consist of: Kraig Higginson, 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 extensions occurring on or
before March 31, 2024, 10,000 warrants per month the due date is extended plus 1 warrant for every $2