Company: KCRD
Filing Date: 2025-05-19
Form Type: 10-K
Source: 0001477932-25-003933
Chunk: 551

Company: Kindcard, Inc.
Filing Date: 2025-05-19
Form: 10-K
Item: Item 6
Chunk 551
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 recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the date of enactment or substantive enactment.

NOTE 2 – ACCOUNTS RECEIVABLE, Net - unbilled We estimate credit loss reserves for accounts receivable on an individual receivable basis. A specific allowance is established based on expected future cash flows and the financial condition of the debtor. We charge off customer balances in part or in full when it is more likely than not that we will not collect that amount of the balance due. We consider any balance unpaid after the contract payment period to be past due. Fees are collected in arrears resulting in accounts receivable, net – unbilled and are recorded as accrued revenue at the end of each month. There are $34,728 and $20,557 in accounts receivable net of $179 and $0.00 allowances at January 31, 2025 and January 31, 2024, respectively.

NOTE 3 – PROPERTY AND EQUIPMENT, Net Property and equipment are stated at cost less accumulated depreciation and amortization. Depreciation of property and equipment is calculated using the straight-line method over the estimated useful life of the asset generally ranging from three to seven years. Property and equipment, net consists of the following at:     January 31,  January 31,    2025   2024 Merchandise and equipment: Vault $10,000  $10,000 Merchandise and equipment: Office Equipment  4,286   4,286 Merchandise and equipment: IT Equipment  4,945   4,945 Total Cost $19,231  $19,231 Less: accumulated depreciation  (16,994)  (13,104)Property and equipment, net $2,237  $6,127   Depreciation expense amounted to $3,890 and $5,627 with $2,241 and $5,443 reclassified as cost of goods sold at January 31, 2025 and January 31, 2024, respectively. Please note that certain balances were reclassified for presentation and for consistency. 

 F-11Table of Contents

Kindcard, Inc. and Subsidiaries

Notes to Consolidated Financial Statements

January 31, 2025

NOTE 4 – INTANGIBLE ASSETS Intangible