Sundance Strategies Reports Decreased Net Loss and Increased Liabilities for December 2024

Sundance Strategies, Inc. reported a net loss of $260,993 for the three months ended December 31, 2024, a decrease from a loss of $363,063 in the same period of the previous year. For the nine months ended December 31, 2024, the company recorded a net loss of $965,825, compared to a loss of $902,239 for the same period in 2023. General and administrative expenses for the three months were $143,513, slightly lower than the $147,842 reported in the prior year. However, for the nine-month period, these expenses increased to $503,457 from $371,839, primarily due to higher professional fees.

The company's total assets decreased to $273,270 as of December 31, 2024, down from $338,935 at the end of the previous fiscal period. Current liabilities surged to $4,468,169, compared to $1,631,063 in March 2024, largely driven by an increase in accrued expenses and notes payable to related parties. The stockholders' deficit also widened to $6,100,750 from $5,939,925, reflecting the ongoing losses and increased liabilities.

Sundance Strategies has been focusing on expanding its business model, which includes providing professional services to specialty structured finance groups and bond issuers. The company has not held life insurance policies directly but has been involved in the life settlements market, advising clients on portfolio selections and structuring bonds. The company continues to explore financing opportunities, with access to draw an additional $4,265,942 on notes payable and $3,000,000 on a convertible debenture agreement as of December 31, 2024.

Operationally, the company reported no interest income due to not holding net insurance benefits (NIBs). The average monthly operating expenses were approximately $56,000, which includes salaries and other administrative costs. As of December 31, 2024, the company had $259,620 in cash, down from $329,860 in March 2024. The management believes that existing capital resources and support from related parties will be sufficient to meet operational needs for at least the next 12 months.

Looking ahead, Sundance Strategies is expected to continue its efforts in securing additional financing and expanding its advisory services in the structured finance sector. The company has indicated that it will incur up to $300,000 in financing expenses as it seeks to enhance its capital structure and operational capabilities. The management remains optimistic about the potential for growth and profitability, contingent on successful execution of its strategic initiatives.