As of September 30, 2024, Sundance Strategies, Inc. reported cash and cash equivalents of $428,475, an increase from $329,860 as of March 31, 2024. Total current assets also rose to $446,039 from $338,935 during the same period. However, the company experienced a net loss of $(268,403) for the three months ended September 30, 2024, compared to a net loss of $(200,984) for the same period in 2023. For the six months ended September 30, 2024, the net loss was $(704,832), up from $(539,176) in the prior year.

General and administrative expenses surged to $166,837 for the three months ended September 30, 2024, compared to $92,698 in the same period of 2023, primarily due to increased professional fees. For the six-month period, these expenses totaled $359,944, up from $223,997 in 2023. Interest expense decreased to $86,566 for the three months ended September 30, 2024, from $108,286 in 2023, attributed to the absence of amortized debt discounts and a payment made on principal and interest.

The company reported a total stockholders’ deficit of $(5,839,757) as of September 30, 2024, an improvement from $(5,939,925) as of March 31, 2024. Net cash used in operating activities for the six months ended September 30, 2024, was $(656,385), compared to $(196,511) in the same period of 2023. Proceeds from the issuance of common stock and warrants increased to $805,000 from $200,000 year-over-year.

Sundance Strategies has developed a new business offering aimed at providing professional services to specialty structured finance groups, bond issuers, and life settlement aggregators. The company has assembled a team from the life settlement marketplace to advise on portfolio selection of life insurance policies, with the goal of delivering long-term value and profitability to shareholders.

As of September 30, 2024, total debt obligations amounted to $5,180,504, which includes accrued interest. The principal amounts owed include $3,290,058 from notes payable and lines-of-credits from related parties, and $826,000 in unsecured promissory notes, all due on November 30, 2025. Management believes that existing capital resources and availability under existing debt agreements will be sufficient to fund operating working capital requirements for at least the next 12 months.