Company: KCRD
Filing Date: 2025-05-19
Form Type: 10-K
Source: 0001477932-25-003933
Chunk: 522

Company: Kindcard, Inc.
Filing Date: 2025-05-19
Form: 10-K
Item: Item 6
Chunk 522
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, at each subsequent reporting date.

Recent Accounting Pronouncements

Accounting standards that have been issued or proposed by FASB that do not require adoption until a future date are not expected to have a material impact on our consolidated financial statements upon adoption. We do not discuss recent pronouncements that are not anticipated to have an impact on or are unrelated to our consolidated financial condition, results of operations, cash flows or disclosures.

 12Table of Contents

RESULTS OF OPERATIONS

Comparison of Results of Operations for the Years Ended January 31, 2025 and January 31, 2024

Revenue

Total revenues amounted to $410,869 which consisted of $27,151 in commission revenue, $378,560 in gift card program revenue and $5,158 in other revenue for the year ended January 31, 2025. Total revenue was $486,843 which consisted of $381,944 in gift card program revenue and $79,899 in commission revenue and $25,000 in other revenue for the year ended January 31, 2024. The decrease of $75,974 in revenue was due to an decrease in gift card program revenue and commission revenue. 

Cost of Revenue

Cost of revenue includes the direct cost of internal labor and related benefits, travel expenses related to consulting services, direct subcontractor costs, other related direct consulting costs.

For the years ended January 31, 2025 and 2024, the cost of revenue were $97,278 and $96,962, respectively, representing an increase of $316. The increase of cost of revenue was mainly driven by an increase in the direct costs to produce the revenue.

Operating Expenses

For the years ended January 31, 2025 and January 31, 2024, operating expenses consisted of the following:

  For the Years ended   January 31,  January 31,   2025  2024 Advertising and Marketing $4,169  $6,024 Communications $63,328  $50,338 Consulting $20,439  $134,458 Employee Benefits $8,733  $7,732 Legal and Professional Fees $103,433  $77,007 General and Administrative $182,232  $197,840 Salaries and Wages $100,000  $100,000 Depreciation and Amortization $80,191