Company: SUND
Filing Date: 2025-06-30
Form Type: 10-K
Source: 0001641172-25-017143
Chunk: 142

Company: Sundance Strategies, Inc.
Filing Date: 2025-06-30
Form: 10-K
Item: Item 1A
Chunk 142
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 immediately upon issuance, having exercise prices of $1.05 per share, and a 5-year exercise window from the dates of issuance.
As per the provision outlined in Note 8, and in conjunction with the extension on January 26, 2024, the company agreed to provide Mr.
Dickman with warrants for 563,000 shares of common stock (see Note 8) vested immediately upon issuance, having exercise prices of $0.41
per share, and a 5-year exercise window from the dates of issuance. During the years ended March 31, 2025, and March 31, 2024, the Company
neither borrowed any additional funds under this agreement nor made any principal repayments. As of March 31, 2025, accrued interest
on the notes totaled $504,608. In the event 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 as of March 31, 2025 is 1,994,332 (see Note
8 for further details on these warrants).

On
July 29, 2021, the Company entered into an unsecured promissory note agreement with Radiant Life, LLC. This agreement was in conjunction
with the Company borrowing $50,000 of Notes Payable, Related Party, and is not part of the existing note payable and lines of credit
agreement the Company has with Radiant Life, LLC. The promissory note bore interest at a rate of 8% annually and was due on July 29,
2024. In conjunction with this specific loan event, the agreement awarded Radiant Life, LLC with 50,000 common stock warrants, which
had an exercise price of $1.05, and expired in 5 years (see Note 8). The principal and accrued interest of $13,172 was fully paid on
July 2, 2024, and immediately closed.

    F-8

Related
Party Note Payable and Line of Credit Agreements

As
of March 31, 2025, and 2024, 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. On January 26, 2024, and again on January 24,