Company: SUND
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001493152-25-006815
Chunk: 23

Company: Sundance Strategies, Inc.
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 1
Chunk 23
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olidated Financial Statements and footnotes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year
ended March 31, 2024, which was filed with the SEC on July 1, 2024.

Off-Balance
Sheet Arrangements

We
have no off-balance sheet arrangements.

Item
3. Quantitative and Qualitative Disclosure about Market Risk

Not
Applicable.

Item
4. Controls and Procedures

Limitation
on the Effectiveness of Controls

The
Company maintains disclosure controls and procedures that are designed to provide reasonable assurance that information, which is required
to be disclosed timely, is accumulated and communicated to management in a timely fashion. In designing and evaluating such controls
and procedures, we recognize that any controls and procedures, no matter how well designed and operated, can provide only reasonable
assurance of achieving the desired control objectives. Our management is necessarily required to use judgment in evaluating controls
and procedures.

Evaluation
of Controls and Procedures

Our
management, with the participation of our principal executive and principal financial officer, evaluated the effectiveness of our
disclosure controls and procedures as of the end of the period covered by this Quarterly Report. Disclosure controls and procedures
include, without limitation, controls and procedures designed to ensure that information required to be disclosed by an issuer in
the reports that it files or submits under the Exchange Act is recorded, processed, summarized and reported within the time periods
specified in the Commission’s rules and forms, and that such information is accumulated and communicated to the issuer’s
management, including its Principal Executive Officer and Principal Financial Officer, or persons performing similar functions, as
appropriate to allow timely decisions regarding required disclosure. Based on that evaluation, our principal executive and principal
financial officer has concluded that our disclosure controls and procedures as of the end of the period covered by the Quarterly
Report were not effective due to the lack of design and operating effectiveness of our control environment and risk assessment,
control activities and monitoring activities relating to complex accounting matters relating to the valuation of equity-based
compensation instruments as disclosed in Item 9A of our Form 10-K filed on June 29, 2022.

16

Our
principal executive and principal financial officer is in the process of performing a review of our processes and controls over complex
accounting matters relating to the valuation of equity-based compensation instruments.

Changes
in Internal Control

There
were no changes in our internal control over financial reporting that occurred during the first quarter of 202