Company: KCRD
Filing Date: 2025-09-22
Form Type: 10-Q
Source: 0001477932-25-006912
Chunk: 13

Company: Kindcard, Inc.
Filing Date: 2025-09-22
Form: 10-Q
Item: Part I, Item 1
Chunk 13
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 $7,429 and $4,963, and short-term portion of accrued interest SBA loan of $8,041 and $5,921 at July 31, 2025 and January 31, 2025.

 F-10Table of Contents

 Kindcard, Inc. and Subsidiaries

Condensed Notes to Consolidated Financial Statements (unaudited)

July 31, 2025

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 July 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