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Sundance Strategies, Inc. has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements for the quarter, showing general and administrative expenses of $166,837, compared to $92,698 in the same quarter the previous year. The increase is attributed to higher professional fees.
The company reported a net loss of $268,403 for the quarter, compared to a net loss of $200,984 in the previous year. There was no income tax expense or benefit due to a full valuation allowance on the net deferred tax asset.
Interest expense for the quarter was $86,566, down from $108,286 in the previous year, due to no amortized debt discounts recognized during the period.
Other expenses related to potential financing alternatives were $15,000 for the quarter, associated with consultant fees.
As of September 30, 2024, Sundance Strategies had $428,475 in cash and cash equivalents, with access to additional funds through existing debt agreements.
The company continues to explore additional financing opportunities and anticipates monthly expenses of approximately $63,000.
Sundance Strategies' operations have been primarily financed through sales of equity, debt financing, and related party loans.
The filing details various financial agreements, including notes payable and convertible debentures, with a total debt obligation of $5,180,504 as of September 30, 2024.
The company does not hold life settlement or life insurance policies but focuses on providing professional services to structured finance groups and life settlement aggregators.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Sundance Strategies Inc quarterly 10-Q report dated November 8, 2024. To report an error, please email earnings@qz.com.