$SUND
Sundance Strategies, Inc.

2024 Q4 Form 10-Q Financial Statement

#000149315224044334 Filed on November 08, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3
Revenue $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $166.8K
YoY Change 79.98%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $166.8K
YoY Change 79.98%
Operating Profit -$166.8K
YoY Change 79.98%
Interest Expense -$101.6K
YoY Change -193.8%
% of Operating Profit
Other Income/Expense, Net -$101.6K
YoY Change -6.21%
Pretax Income -$268.4K
YoY Change 33.54%
Income Tax
% Of Pretax Income
Net Earnings -$268.4K
YoY Change 33.54%
Net Earnings / Revenue
Basic Earnings Per Share -$0.01
Diluted Earnings Per Share -$0.01
COMMON SHARES
Basic Shares Outstanding 43.06M shares 42.44M shares
Diluted Shares Outstanding 43.04M shares

Balance Sheet

Concept 2024 Q4 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $428.5K
YoY Change 131.62%
Cash & Equivalents $428.5K
Short-Term Investments
Other Short-Term Assets $17.56K
YoY Change 8.46%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $446.0K
YoY Change 121.71%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $1.00
YoY Change -66.67%
TOTAL ASSETS
Total Short-Term Assets $446.0K
Total Long-Term Assets $1.00
Total Assets $446.0K
YoY Change 121.71%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $447.7K
YoY Change -3.32%
Accrued Expenses $465.5K
YoY Change -30.58%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change -100.0%
Long-Term Debt Due $300.0K
YoY Change -65.75%
Total Short-Term Liabilities $1.613M
YoY Change -40.46%
LONG-TERM LIABILITIES
Long-Term Debt $3.290M
YoY Change 37.89%
Other Long-Term Liabilities $1.383M
YoY Change 43.27%
Total Long-Term Liabilities $4.673M
YoY Change 39.44%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.613M
Total Long-Term Liabilities $4.673M
Total Liabilities $6.286M
YoY Change 3.71%
SHAREHOLDERS EQUITY
Retained Earnings -$37.60M
YoY Change 5.62%
Common Stock $43.06K
YoY Change 3.5%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$5.840M
YoY Change
Total Liabilities & Shareholders Equity $446.0K
YoY Change 121.71%

Cashflow Statement

Concept 2024 Q4 2024 Q3
OPERATING ACTIVITIES
Net Income -$268.4K
YoY Change 33.54%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$331.8K
YoY Change 268.33%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 575.0K
YoY Change 113.75%
NET CHANGE
Cash From Operating Activities -331.8K
Cash From Investing Activities
Cash From Financing Activities 575.0K
Net Change In Cash 243.2K
YoY Change 35.93%
FREE CASH FLOW
Cash From Operating Activities -$331.8K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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SUND Liquidity Requirements Disclosure Textblock
LiquidityRequirementsDisclosureTextblock
<p id="xdx_80B_ecustom--LiquidityRequirementsDisclosureTextblock_zgUJQtuRqCw4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(2) <span id="xdx_826_zY46tN9A1qCc">LIQUIDITY REQUIREMENTS</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Since the Company’s inception on January 31, 2013, its operations have been primarily financed through sales of equity, debt financing from related parties, and the issuance of notes payable and convertible debentures. As of September 30, 2024, the Company had $<span id="xdx_901_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_c20240930_zoDdXpzUE9sf" title="Cash assets">428,475</span> of cash assets, compared to $<span id="xdx_90C_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_c20240331_z7pfeyPRCLBl" title="Cash assets">329,860</span> as of March 31, 2024. As of September 30, 2024, the Company had access to draw an additional $<span id="xdx_90A_eus-gaap--LineOfCreditFacilityRemainingBorrowingCapacity_iI_c20240930_zCi4jiLEgqsc" title="Notes payable borrowing capacity">4,265,942</span> on the notes payable, related party (see Note 5) and $<span id="xdx_909_eus-gaap--DebtInstrumentFaceAmount_iI_c20240930__us-gaap--TypeOfArrangementAxis__custom--ConvertibleDebentureAgreementMember_zt5W9kfkSfyb" title="Debt borrowing amount">3,000,000</span> on the Convertible Debenture Agreement (See Note 6). For the six months ended September 30, 2024, the Company’s average monthly operating expenses were approximately $<span id="xdx_90C_eus-gaap--OperatingExpenses_c20240401__20240930_zu5bsDWFiB7f" title="Operating expenses">63,000</span>, which includes salaries of the Company’s employee, consulting agreements and contract labor, general and administrative expenses, and legal and accounting expenses. In addition to the monthly operating expenses, the Company continues to pursue other debt and equity financing opportunities, and as a result, financing expenses of $<span id="xdx_902_eus-gaap--FinancingInterestExpense_c20240401__20240930_zAUo0hGZFc5l" title="Financing interest expense">170,000</span> and $<span id="xdx_902_eus-gaap--FinancingInterestExpense_dxL_c20230401__20230930_zvK15iLznIMb" title="Financing expenses::XDX::-"><span style="-sec-ix-hidden: xdx2ixbrl0472">0</span></span> were incurred during the six months ended September 30, 2024, and 2023, respectively. As management continues to explore additional financing alternatives, beginning October 1, 2024, the Company is expected to spend up to an additional $<span id="xdx_902_ecustom--AdditionalFinancingAlternatives_c20240401__20240930_z2tzw0rQnpja" title="Additional financing alternatives">300,000</span> on these efforts. Outstanding Accounts Payable as of September 30, 2024, totaled $<span id="xdx_901_eus-gaap--AccountsPayableCurrent_iI_c20240930_zIwjQcCtY0Bk" title="Accounts payable outstanding">447,688</span>. Management has concluded that its existing capital resources and availability under its existing debt agreements with related parties will be sufficient to fund its operating working capital requirements for at least the next 12 months from the issuance of these financial statements, or through November 2025. Related parties have given assurance that their continued support, by way of either extensions of due dates, or increases in lines-of-credit, can be relied on. As mentioned above, the Company also continues to evaluate other debt and equity financing opportunities.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The accompanying financial statements have been prepared on a going concern basis under which the Company is expected to be able to realize its assets and satisfy its liabilities in the normal course of business.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2024Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
428475 usd
CY2024Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
329860 usd
CY2024Q3 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
LineOfCreditFacilityRemainingBorrowingCapacity
4265942 usd
us-gaap Operating Expenses
OperatingExpenses
63000 usd
us-gaap Financing Interest Expense
FinancingInterestExpense
170000 usd
SUND Additional Financing Alternatives
AdditionalFinancingAlternatives
300000 usd
CY2024Q3 us-gaap Accounts Payable Current
AccountsPayableCurrent
447688 usd
CY2021Q2 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
0.08 pure
CY2024Q3 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
453569 usd
CY2024Q3 us-gaap Interest Payable Current
InterestPayableCurrent
124225 usd
CY2024Q1 us-gaap Interest Payable Current
InterestPayableCurrent
124225 usd
CY2023Q3 us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
1500000 usd
CY2023Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2023Q3 SUND Subscription Receivable
SubscriptionReceivable
400000 usd
CY2023Q4 SUND Subscription Receivable
SubscriptionReceivable
650000 usd
CY2024Q3 us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
805000 usd
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
14043573 shares
CY2024Q1 SUND Share Based Compensation Arrangement By Share Based Payment Award Non Options Equity Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsEquityOutstandingWeightedAverageExercisePrice
0.75
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Granted
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted
1610000 shares
SUND Share Based Compensation Arrangement By Share Based Payment Award Non Options Equity Granted In Investors With Cash Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsEquityGrantedInInvestorsWithCashWeightedAverageExercisePrice
0.35
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Expirations
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExpirations
1000000 shares
SUND Share Based Compensation Arrangement By Share Based Payment Award Non Options Equity Expired Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsEquityExpiredWeightedAverageExercisePrice
1.00
CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
14653573 shares
CY2024Q3 SUND Share Based Compensation Arrangement By Share Based Payment Award Non Options Equity Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsEquityOutstandingWeightedAverageExercisePrice
0.69
CY2024Q3 SUND Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercisableNumber
14653573 shares
CY2024Q3 SUND Share Based Compensation Arrangement By Share Based Payment Award Non Options Equity Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsEquityExercisableWeightedAverageExercisePrice
0.69
CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
14653573 shares
CY2024Q3 SUND Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercisableNumber
14653573 shares
us-gaap Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
10080581 usd

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