Fri, Nov 8, 10:17 PM (35 days ago)
Sundance Strategies, Inc. (SUND) reported a net loss of $268,403 for Q3 2024, compared to a loss of $200,984 in Q3 2023. General and administrative expenses increased significantly to $166,837, primarily due to higher professional fees. Total liabilities stood at $6,285,796, with a stockholders' deficit of $5,839,757 as of September 30, 2024. The company had cash and cash equivalents of $428,475, up from $329,860 at the end of Q1 2024. The company continues to rely on equity sales and related-party debt financing, with $4,265,942 available under existing lines of credit. Monthly operating expenses average around $63,000, and management believes current resources will sustain operations through at least November 2025. Despite no interest income from NIBs, interest expenses decreased to $86,566 in Q3 2024. The company is actively pursuing additional financing options, incurring $170,000 in related expenses during the quarter. Overall, Sundance Strategies is focused on enhancing its professional services business while navigating ongoing operational losses and significant liabilities.