Sundance Strategies, Inc. 10-K

Item 5. Market for Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities Market Information Our common stock is quoted on the OTCQB under the symbol “SUND.” There is no “established trading market” for our shares of common stock. No assurance can be given that any established trading market for our common stock will develop or be maintained, and if an established trading market develops in the future, the sale of shares of our common stock that are deemed to be “restricted securities” or “control securities” pursuant to Rule 144 of the SEC by members of management or others may have a substantial adverse impact on any such market. Holders We had 93 stockholders of record as of June 29, 2023 and an indeterminate number of stockholders who hold shares in “street name”. Dividends There are no present material restrictions that limit our ability to pay dividends on our common or preferred stock. Presently, we have no plans to pay any dividends in the foreseeable future. Our Board of Directors intends to pursue a policy of retaining earnings, if any, for use in our operations and to finance expansion of our business. Any declaration and payment of dividends in the future, of which there can be no assurance, will be determined by our Board of Directors in light of conditions then existing, including our earnings, financial condition, capital requirements and other factors. There are presently no dividends which are accrued or owing with respect to our outstanding common stock. No assurance can be given that dividends will ever be declared or paid on our common stock in the future. Recent Sales of Unregistered Securities On October 29, 2021, we issued a private placement memorandum offering to raise up to $500,000 through the issuance of restricted shares of our common stock (par value $0.001) to qualified investors. From November 5, 2021 to March 28, 2022, we received subscription agreements from investors, for 100,000 common shares at a purchase price of $5 per share, including 500,000 warrants exercisable at $5 per share, vested immediately upon issuance, with a five year expiration. Proceeds to us totaled $500,000. On February 5, 2022, the Company issued 649,754 warrants to Radiant Life, LLC, 653,150 warrants to the Chairman of the Board of Directors and a stockholder and 488,583 warrants to Mr. Glenn S. Dickman in conjunction with various extensions of maturity dates during the period (see Note 8). The exercise price of these warrants was $0.05. The value of the warrants on the date of grant, as calculated by the Black-Scholes-Merton valuation model, was $1,840,149. The inputs used in this calculation included a fair value of $1.049 per share, a risk-free rate of 1.76%, volatility of 131.78% and a dividend rate of 0%. 25 On January 5, 2022, the Company issued 200,000 warrants to Radiant Life, LLC in conjunction with monies borrowed (see Note 8). The exercise price of these warrants was $0.05. The value of the warrants on the date of grant, as calculated by the Black-Scholes-Merton valuation model, was $205,393. The inputs used in this calculation included a fair value of $1.049 per share, a risk-free rate of 1.43%, volatility of 131.78% and a dividend rate of 0%. During the year ended March 31, 2023 the Company issued 264,600 warrants to the Chairman of the Board of Directors and 120,000 warrants to Radiant Life, LLC in conjunction with monies borrowed during the period (see Note 8). The exercise price of these warrants was $1.05. The value of the warrants on the date of grant, as calculated by the Black-Scholes-Merton valuation model was $365,502. The inputs used in this calculation included a fair value of the underlying common stock of $1.049 per share, a risk-free between 3.62% and 4.31%, volatility between 142.23% and 148.56% and a dividend rate of 0%. During the year ended March 31, 2023, the Company issued 339,749 warrants to Mr. Dickman, 719,300 warrants to the Chairman of the Board of Directors, and 649,754 warrants to Radiant Life, LLC in conjunction with an extension of the maturity dates during the period (see Note 8) per the terms outlined above. The exercise price of these warrants was $1.05. The value of the warrants on the date of grant, as calculated by the Black-Scholes-Merton valuation model was $1,678,810. The inputs used in this calculation included a fair value of the underlying common stock of $1.049 per share, a risk-free between 3.49% and 3.95%, volatility between 142.92% and 145.49% and a dividend rate of 0%. Purchases of Equity Securities by Us and Affiliated Purchasers None. Item 6. [Reserved.]