SUND — what changed in the latest 10-K

Text added vs the prior filing · source: 10-K · 2026-06-29

• ● Our ability to execute our business plan depends on obtaining continued financing.

• Our ability to execute our business plan depends on obtaining continued financing.

• Since inception, we have experienced recurring operating losses and negative cash flows and we expect to continue to generate operating losses and consume significant cash resources for the foreseeable future. Our ability to fund operations and execute our business plan depends on continued access t…

• Management believes these actions, together with existing cash resources and available borrowing capacity under current financing arrangements, will provide sufficient liquidity to meet operating needs for at least the next 12 months from the issuance of these financial statements. However, our abil…

Text removed vs the prior filing · source: 10-K · 2025-06-30

• ● There may be substantial doubt about our ability to continue as a going concern, and we will need additional financing to execute our business plan, to fund our operations and to continue as a going concern.

• There may be substantial doubt about our ability to continue as a going concern, and we will need additional financing to execute our business plan, to fund our operations and to continue as a going concern.

• Since inception, we have experienced recurring operating losses and negative cash flows and we expect to continue to generate operating losses and consume significant cash resources for the foreseeable future. There may be substantial doubt regarding our ability to continue as a going concern. We ha…

• Our inability to access capital may limit our ability to adequately fund our operations and continue as a going concern. Management plans to address these conditions through (i) continued pursuit of private placements and debt financing, (ii) cost management initiatives to reduce G&A expenses, and (…

Text added vs the prior filing · source: 10-K · 2026-06-29

• For the years ended March 31, 2026, and 2025, expenses incurred pursuing potential financing alternatives totaled $15,000 and $215,000, respectively. The decrease in financing-related expenses is primarily attributable to decreased costs incurred in connection with bond structuring and placement eff…

• During the years ended March 31, 2026, and 2025, the Company recorded a net loss before income taxes of $1,813,964 and $1,603,382, respectively. The income tax provision for both periods was also $0.

• Since our inception, our operations have been primarily financed through sales of equity instruments, debt financing, lines of credit and notes payable from related parties, and the issuance of convertible debentures. As of March 31, 2026, we had $32,035 of cash, compared to $168,648 as of March 31,…

• For the year ended March 31, 2026, we recorded net cash used in operating activities of $390,302, compared to $916,212 during the prior year. The decrease in cash used is primarily attributable to a reduction in financing expenses and a reduction in operating expenses, as well as higher non-cash acc…

• For the years ended March 31, 2026, and 2025 no cash was used in or provided by investing activities.

Text removed vs the prior filing · source: 10-K · 2025-06-30

• When used in this Annual Report, the words “may,” “will,” “expect,” “anticipate,” “continue,” “estimate,” “project,” “intend,” and similar expressions are intended to identify forward-looking statements regarding events, conditions, and financial trends that may affect our future plans of operations…

• During the years ended March 31, 2025 and 2024, we recognized gains on the settlement of debt of $0 and $290,000, respectively. The decline in recognized gains during the year ending March 31, 2025 was due to the absence of any debt settlements or negotiated reductions with vendors.

• For the years ended March 31, 2025, and 2024, interest expense totaled $349,016 and $410,856 , respectively. The decrease in interest expense was a result of less amortization of debt discount during 2025.

• For the years ended March 31, 2025, and 2024, expenses incurred pursuing potential financing alternatives totaled $215,000 and $135,000, respectively. The increase in financing-related expenses is primarily attributable to increased costs incurred in connection with bond structuring and placement ef…

• During the years ended March 31, 2025, and 2024, the Company recorded a net loss before income taxes of $1,603,382 and $1,834,991, respectively. The reduction in net loss is largely due to decrease in losses from extinguishing debt, partially offset by the lack of gain on settlement of debt.