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Sundance Strategies Inc (SUND0.00%). has submitted its 10-Q filing for the quarterly period ended December 31, 2024.
The filing includes financial statements for the quarter, showing no income from investments, consistent with the previous year. General and administrative expenses were $143,513, compared to $147,842 in the same quarter the previous year.
The company reported a loss from operations of $143,513 for the quarter, compared to a loss of $147,842 in the previous year. Interest expense for the quarter was $87,480, down from $110,221 in the previous year.
Other expenses related to potential financing alternatives were $30,000, compared to $105,000 in the previous year. The net loss for the quarter was $260,993, compared to $363,063 in the previous year.
For the nine months ended December 31, 2024, general and administrative expenses totaled $503,457, compared to $371,839 in the previous year. Interest expense for the nine months was $262,368, down from $316,480 in the previous year.
The company did not record any gain on settlement of liabilities or loss on extinguishment of debt for the nine months ended December 31, 2024, unlike the previous year where a gain of $290,000 and a loss of $398,920 were recorded.
Net cash used in operating activities was $825,240 for the nine months ended December 31, 2024. Cash provided by financing activities was $755,000, resulting in a net decrease in cash and cash equivalents of $70,240.
Sundance Strategies had $259,620 in cash as of December 31, 2024, compared to $329,860 as of March 31, 2024. The company continues to rely on related party lines of credit and notes payable for financing.
The company has developed a business offering in structured finance, advising on life insurance policy portfolios and structuring bonds for issuances. This includes working with bond placement agents and aggregators for investment grade bond offerings.
Sundance Strategies does not anticipate any immediate changes in its financial condition, and management believes existing resources will be sufficient for the next 12 months.
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 February 14, 2025. To report an error, please email earnings@qz.com.