Company: SUND
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022380
Chunk: 10

Company: Sundance Strategies, Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 10
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 the Company completes a successful equity raise all principal and interest on the notes are due in full at that time. The
total number of warrants issued to the related party lender was 1,994,332 as of September 30, 2025 (See Note 7 for further details on
these warrants).

Related
Party Note Payable and Line of Credit Agreements

As
of September 30, 2025, and March 31, 2025, the Company owed $1,304,550, exclusive of accrued
interest, under the note payable and line of credit agreement with Kraig T. Higginson, Chairman of the Board of Directors and a stockholder.
As of September 30, 2025, the agreement allowed for borrowings of up to $4,600,000. The
note payable has a due date of the principal and interest on the note of November 30, 2026, or at the immediate time when alternative
financing or other proceeds are received. The note payable and line of credit agreement incurs interest at 7.5% per annum. During the
six months ended September 30, 2025, the Company did not borrow and made no repayments of
principal on this agreement. As of September 30, 2025, accrued interest on this note totaled
$550,257. The total number of warrants issued to the related party lender was 5,031,775 as of September 30, 2025 (see Note 7 for further
details on these warrants).

As
of September 30, 2025, and March 31, 2025, the Company owed $1,159,508, exclusive of accrued interest, under the note payable and lines
of credit agreement with Radiant Life, LLC, an entity partially owned by the Chairman of the Board of Directors. The agreement allows
for borrowings of up to $2,130,000. The note payable has a due date of the principal and interest on the note of November 30, 2026, or
at the immediate time when alternative financing or other proceeds are received. The note payable and line of credit agreement incurs
interest at 7.5% per annum and is collateralized by the Company’s NIBS, if any. During the six months ended September 30, 2025, the Company
did not borrow and made no repayments of principal on this agreement. As of September