$SUND
Sundance Strategies, Inc.

2014 Q2 Form 10-Q Financial Statement

#000101041214000139 Filed on August 14, 2014

View on sec.gov

Income Statement

Concept 2014 Q2 2013 Q2
Revenue $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $620.0K $1.030M
YoY Change -39.81%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $50.00K $1.034M
YoY Change -95.16% 29312.94%
Operating Profit -$52.87K -$1.034M
YoY Change -94.89% 29312.94%
Interest Expense $16.14K $30.07K
YoY Change -46.33% 46166.15%
% of Operating Profit
Other Income/Expense, Net -$5.496K -$30.05K
YoY Change -81.71% 46133.85%
Pretax Income -$58.36K -$1.064M
YoY Change -94.51%
Income Tax
% Of Pretax Income
Net Earnings -$58.36K -$1.064M
YoY Change -94.51% 29618.35%
Net Earnings / Revenue
Basic Earnings Per Share -$0.01
Diluted Earnings Per Share -$0.01 -$25.68K
COMMON SHARES
Basic Shares Outstanding 43.02M shares 40.80M shares
Diluted Shares Outstanding 43.02M shares

Balance Sheet

Concept 2014 Q2 2013 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $10.00K $1.260M
YoY Change -99.21%
Cash & Equivalents $6.492K $1.259M
Short-Term Investments
Other Short-Term Assets $0.00
YoY Change
Inventory
Prepaid Expenses $2.000K
Receivables
Other Receivables
Total Short-Term Assets $8.492K $1.259M
YoY Change -99.33% 607884.06%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $17.05M $12.10M
YoY Change 40.91%
Other Assets $4.238M $8.573M
YoY Change -50.56%
Total Long-Term Assets $17.27M $12.10M
YoY Change 42.73%
TOTAL ASSETS
Total Short-Term Assets $8.492K $1.259M
Total Long-Term Assets $17.27M $12.10M
Total Assets $17.27M $13.36M
YoY Change 29.35% 6451700.48%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $99.97K $250.0K
YoY Change -60.01% 64835.06%
Accrued Expenses $130.3K
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $1.330M $3.000M
YoY Change -55.67%
Long-Term Debt Due $190.0K $0.00
YoY Change
Total Short-Term Liabilities $1.747M $3.253M
YoY Change -46.29% 16691.56%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $1.747M $3.253M
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $1.747M $3.253M
YoY Change -46.29% 16691.56%
SHAREHOLDERS EQUITY
Retained Earnings -$369.2K -$1.169M
YoY Change -68.41% 129.96%
Common Stock $743.0K $11.28M
YoY Change -93.41% 99871.96%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $15.53M $10.10M
YoY Change
Total Liabilities & Shareholders Equity $17.27M $13.36M
YoY Change 29.35% 6451700.48%

Cashflow Statement

Concept 2014 Q2 2013 Q2
OPERATING ACTIVITIES
Net Income -$58.36K -$1.064M
YoY Change -94.51% 29618.35%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$1.020M -$6.239M
YoY Change -83.65% 124923.35%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $550.0K
YoY Change
Cash From Investing Activities $550.0K
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00 $6.952M
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 100.0K $6.952M
YoY Change -98.56% 140339.9%
NET CHANGE
Cash From Operating Activities -1.020M -$6.239M
Cash From Investing Activities 550.0K
Cash From Financing Activities 100.0K $6.952M
Net Change In Cash -370.0K $713.1K
YoY Change -151.89% -1782875.0%
FREE CASH FLOW
Cash From Operating Activities -$1.020M -$6.239M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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CY2013Q2 sund Total Consideration That Would Be Paid By Company If All Net Insurance Benefits Are Provided Under Asset Transfer Agreement
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CY2013Q2 sund Total Cash Consideration That Would Be Paid By Company If All Net Insurance Benefits Are Provided Under Asset Transfer Agreement
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CY2013Q4 sund Total Cash Consideration That Would Be Paid By Company If All Net Insurance Benefits Are Provided Under Asset Transfer Agreement
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CY2013Q2 us-gaap Payments To Acquire Businesses Gross
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CY2013Q2 sund Total Notes Payable That Would Be Issued By Company If All Net Insurance Benefits Are Provided Under Asset Transfer Agreement
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CY2013Q2 us-gaap Other Notes Payable
OtherNotesPayable
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CY2013Q4 sund Advance To Consultant For Services
AdvanceToConsultantForServices
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CY2014Q1 sund Valueof Qualified Net Insurance Benefits
ValueofQualifiedNetInsuranceBenefits
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CY2013Q4 sund Structuring And Consulting Agreement Terms
StructuringAndConsultingAgreementTerms
In the event the Qualified NIBs delivered are less than $300,000,000 in face value under the DMF Agreement, Del Mar and Europa shall be jointly and severally liable for liquidated damages equal to the aggregate of the cash payment under the Del Mar ATA and all of the costs advanced, reduced by the pro rata percentage of the Qualified NIBs delivered and accepted by the Company, multiplied by two; and if at least $300,000,000 in Qualified NIBs are delivered and accepted, then the cash payment and all costs will not be doubled if they are paid within 90 days.
CY2013Q2 sund Structuring And Consulting Agreement Terms
StructuringAndConsultingAgreementTerms
The Company is required to pay a structuring fee of 1% of the face amount of the life insurance policies underlying all NIBs introduced and acquired, payable as follows: 50% of the fee on the delivery of the NIBs; and the remaining 50% being payable on the conversion of the NIBs to Qualified NIBs as defined in the Del Mar ATA.
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CY2014Q1 us-gaap Liabilities Current
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CY2014Q2 us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
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<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <div> <p style=" margin: 0pt; text-align: justify; font-family : Times New Roman;"><font style=" font-family : Times New Roman; font-size: 10pt;"><strong>(2) NEW ACCOUNTING PRONOUNCEMENTS</strong></font></p> <p style=" margin: 0pt; text-align: justify; font-family : Times New Roman;">&#160;</p> <p style=" margin: 0pt; text-align: justify; text-indent: 36pt; font-family : Times New Roman;"><font style=" font-family : Times New Roman; font-size: 10pt;">In May 2014, the Financial Accounting Standards Board (&#147;FASB&#148;) issued Accounting Standard Update (&#147;ASU&#148;) 2014-09 &#150; Revenue from Contracts with Customers, which provides a single, comprehensive revenue recognition model for all contracts with customers. The core principal of this ASU is that an entity should recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This ASU also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. This ASU is effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2016. Early adoption is not permitted and companies can transition to the new standard under the full retrospective method or the modified retrospective method. The Company does not believe adoption of this ASU will have a material impact on its financial statements.</font></p> <p style=" margin: 0pt; text-align: justify; text-indent: 36pt; font-family : Times New Roman;">&#160;</p> <div> <div style=" display: inline; font-size: 13.333333015441895px; font-family : Times New Roman; font-variant: normal; font-weight: normal; font-style: normal; text-decoration: none solid rgb(0, 0, 0); color: rgb(0, 0, 0);">&#160;&#160;&#160;&#160; &#160;&#160;&#160; &#160;&#160;&#160;&#160; The Company has reviewed all other recently issued, but not yet adopted, accounting standards in order to determine their effects, if any, on its results of operations, financial position or cash flows. Based on that review, the Company believes that none of these pronouncements will have a significant effect on its financial statements.</div> </div> <p style=" margin: 0pt; text-align: justify; text-indent: 36pt; font-family : Times New Roman;">&#160;</p> </div> </div>
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CY2014Q2 sund Life Settlement Contracts Investment Ownership Percentage
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CY2014Q2 dei Entity Registrant Name
EntityRegistrantName
Sundance Strategies, Inc.
CY2014Q2 dei Entity Central Index Key
EntityCentralIndexKey
0001171838
CY2014Q2 dei Document Period End Date
DocumentPeriodEndDate
2014-06-30
CY2014Q2 dei Amendment Flag
AmendmentFlag
false
CY2014Q2 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--03-31
CY2014Q2 dei Entity Filer Category
EntityFilerCategory
Smaller Reporting Company
CY2014Q2 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2015
CY2014Q2 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2014Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
43185941 shares

Files In Submission

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