Item 5. Market for Registrant’s Common Equity
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 102 stockholders of record as of July 1, 2024 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
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%.
On
August 15, 2023, we issued a private placement memorandum offering to raise up to $1,500,000 through the issuance of restricted shares
of our common stock (par value $0.001) to qualified investors. From September 20, 2023 to October 4, 2023, we received subscription agreements
from investors, for 850,000 common shares at a purchase price of $1 per share, including 1,700,000 warrants exercisable at $0.35 per
share, vested immediately upon issuance, with a five year expiration. Proceeds to us totaled $850,000.
During
the year ended March 31, 2024 the Company issued 281,900 warrants to the Chairman of the Board of Directors and 80,000 warrants to Radiant
Life, LLC in conjunction with monies borrowed during the period (see Note 8 to the financial statements included in this report). 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 $316,756. The inputs used in this
calculation included a fair value of the underlying common stock of $1.049 per share, a risk-free between 3.36% and 4.29%, volatility
between 86.52% and 89.11% and a dividend rate of 0%.
During
the year ended March 31, 2024, the Company issued 1,106,000 warrants to Mr. Dickman, 772,275 warrants to the Chairman of the Board of
Directors, and 699,754 warrants to Radiant Life, LLC in conjunction with an extension of the maturity dates during the period (see Note 8 to the financial statements included in this report) per the terms outlined above. The exercise price of these warrants was between $0.41 and $1.05. The value of the warrants on the date
of grant, as calculated by the Black-Scholes-Merton valuation model was $964,277. The inputs used in this calculation included a fair
value of the underlying common stock between $0.409 and $1.049 per share, a risk-free between 3.80% and 4.01%, volatility between 84.00%
and 89.07% and a dividend rate of 0%.
26
Purchases
of Equity Securities by Us and Affiliated Purchasers
None.
Item
6. [Reserved.]