United States Securities and Exchange Commission
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15[d] of the Securities Exchange Act of 1934
June 10, 2013
Date of Report
SUNDANCE STRATEGIES, INC.
(Exact name of Registrant as specified in its Charter)
Nevada | 000-50547 | 88-0515333 |
(State or Other Jurisdiction of | (Commission File Number) | (I.R.S. Employer Identification No.) |
Incorporation) |
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4626 North 300 West, Suite #365
Provo, Utah 84604
(Address of Principal Executive Offices)
(801) 705-8968
(Registrant’s Telephone Number, including area code)
N/A
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions (see general instruction A.2. below):
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14-a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 7.01 Regulation FD Disclosure.
See the Press Release dated June 10, 2013, Exhibit 99 hereto.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No.
Description
99
Press Release dated June 10, 2013
SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused this Current Report to be signed on its behalf by the undersigned hereunto duly authorized.
JAVA EXPRESS, INC.
Date: | June 10, 2013 |
| By: | /s/Randy Pearson |
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| Randy Pearson |
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| President |
Sundance Strategies, Inc. Agrees to Purchase $400 Million in Face-Value of Net Insurance Benefits
Company Agrees to Purchase $400 Million Face Value in Its Second Phase Purchase
PROVO, Utah, June 10, 2013 /PRNewswire/ -- Sundance Strategies Inc. (OTC BB: SUND) an innovative company engaged in acquiring life insurance settlements and related insurance contracts, policies and obligations, today announced that it has formalized an agreement to purchase $400 million in face value life insurance policies, to which it applies proprietary strategies to create a unique, secure and liquid asset.
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The Company initially purchased $129 million face value of policies on March 18, 2013.
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On June 6, 2013, Sundance Strategies placed funds in escrow for the purchase of its second phase by initiating the acquisition of approximately $400 million face value of policies. Using Sundance's proprietary strategies, these policies will provide Sundance with predictable future cash flows and liquidity.
As a result of the acquisition and structuring of this $400 million of Net Insurance Benefits, Sundance will have a portfolio totaling approximately $529 million in policy benefits at face value.
Randy Pearson, President of Sundance Strategies, commented, "We are quickly executing on our strategy to assemble a large portfolio of the highest-quality policies in the industry at favorable prices. These policies are structured using our unique and innovative strategy, which provides predictable cash flows to Sundance regardless of when the policies mature. Over the next 120 days, the Company expects that the policies, which are part of this $400 million transaction, will be processed to fit into the Company's proprietary structure. As a result, Sundance will receive the net insurance benefit, or NIB, without taking on the normal risk associated with the unknown maturity date of a policy, thereby providing predictable cash flows to the Company. It is our plan to consistently add significant amounts of face value to our portfolio, as we execute and prove our strategy."
Disclaimer
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify forward-looking statements by the following words: "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "ongoing," "plan," "potential," "predict," "project," "should," "will," "would," or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. Forward-looking statements are not a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on information available at the time the statements are made and involve known and unknown risks, uncertainties and other factors that may cause our results, levels of activity, performance or achievements to be materially different from the information expressed or implied by the forward-looking statements in this press release.
Contacts
Cameron Donahue, Hayden IR
(651) 653-1854
cameron@haydenir.com
SOURCE Sundance Strategies, Inc.