Company: KCRD
Filing Date: 2025-09-22
Form Type: 10-Q
Source: 0001477932-25-006912
Chunk: 57

Company: Kindcard, Inc.
Filing Date: 2025-09-22
Form: 10-Q
Item: Part II, Item 8
Chunk 57
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31, 2025 $3,055 in interest has been accrued. RMR is a company owned and controlled by the Company’s CEO. 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 of December 31, 2024. As of January 31, 2025 the loan was extended to December 31, 2025 and $3,292 in interest has been accrued for a total balance of $27,961. On May 17, 2024, the Company issued a 6% Promissory Note in the amount of $75,000 to RMR Management Group LLC (“RMR”) in consideration for a $75,000 loan from RMR to the Company. RMR is a company owned and controlled by the Company’s CEO, Michael Rosen. The loan is unsecured with an interest rate of 6% per annum, monthly installments consisting of principal and interest in the amount of $4,541 beginning June 5, 2024, and a maturity date of November 16, 2025. As of July 31, 2025, $375 in interest has been accrued and $58,333 in payments have been made for a total balance of $17,042. During the period ended January 31, 2025 RMR loaned an additional $37,505 to the Company in the form of short-term loans with interest rates ranging from 6% to 10% per annum with a maturity date of December 31, 2024. As of January 31, 2025 the loans have been extended to December 31, 2025. In the period ended July 31, 2025 RMR loaned an additional $1,712 to the Company $189 in interest has been accrued and $16,520 in payments have been made for a total balance of $5,047. RMR is a company owned and controlled by the Company’s CEO, Michael Rosen. The total amount owed to the Company’s CEO as of July 31, 2025 was $342,173 and January 31, 2025 was $386,805 with accrued interest of $7,