Company: KCRD
Filing Date: 2025-05-19
Form Type: 10-K
Source: 0001477932-25-003933
Chunk: 359

Company: Kindcard, Inc.
Filing Date: 2025-05-19
Form: 10-K
Item: Item 2
Chunk 359
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1,345          Foreign        Current $-  $- Deferred  -   - Total $-  $- Provision for Income Taxes $1,430  $1,345  A reconciliation of the provision for income taxes to the amount by applying the statutory federal income tax rate (21% for 2025 and 2024) to income before provision to income taxes for 2025 and 2024 is as follows:   January 31, 2025  January 31, 2024 Computed expected tax $-   - State taxes, net of federal effect  1,256   1,256 Impacts of the Act  -   - Earnings of foreign subsidiaries  -   - Foreign-derived intangible income deduction  -   - Research and development credit, net  -   - Excess tax benefits from equity awards  -   - Other-Penalties and Interest  174   89 Provision for Income Taxes $1,430  $1,345 

NOTE 7 – DUE TO RELATED PARTY  On September 15, 2023, the Company issued a 1% Convertible Promissory Note in the amount of $296,498 (the “Note”) to RMR Management Group LLC (“RMR”) in exchange for full and final settlement of an aggregate amount of $296,498 previously loaned by RMR to the Company. The Note is convertible at the RMR’s option into shares of common stock of the Company at a per share conversion price of $0.01. As of January 31, 2025, $2,248 in interest has been accrued. RMR is a company owned and controlled by the Company’s CEO.

 F-14Table of Contents

Kindcard, Inc. and Subsidiaries

Notes to Consolidated Financial Statements

January 31, 2025

NOTE 7 – DUE TO RELATED PARTY (continued)

On May 1, 2024, the Company issued a Promissory Note in the amount of $24,669 to RMR in exchange for expenses paid and funds previously loaned to the company. RMR is a company owned and controlled by the Company’s CEO. The loan is unsecured with an interest rate of 10% per annum and a maturity date