Company: KCRD
Filing Date: 2025-12-22
Form Type: 10-Q
Source: 0001477932-25-009119
Chunk: 62

Company: Kindcard, Inc.
Filing Date: 2025-12-22
Form: 10-Q
Item: Part II, Item 8
Chunk 62
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 nine-month period ended October 31, 2025, as compared to the nine-month period ended October 31, 2024 are primarily a result of a decrease in Cash Pickup revenues and Shares issued for services for the nine month period ended October 31, 2025.

Liquidity and Capital Resources

Although we have raised limited funds in the form of debt financing, we anticipate that until we generate more revenue, we will require additional financing in order to fully implement our plan of operations.

As of October 31, 2025, we had $9,698 in cash, $20,245 in Accounts Receivable, $3,554 in Unbilled revenue, net, and Other Assets of $13,549. Total liabilities as of October 31, 2025, were $1,242,944 compared to $1,132,511 in total liabilities at January 31, 2025. The funds available to the Company will not be sufficient to fund the planned operations of the Company and maintain reporting status.

The total amount owed to the Company’s CEO as of October 31, 2025, was $325,005. The amounts due to related party consist of an amount due to an executive of the Company of $1,580, a 1% Convertible Promissory Note in the amount of $296,498 (the “Note”) to RMR Management Group LLC (“RMR”) and The Note is convertible at RMR’s option into shares of common stock of the Company at a per share conversion price of $0.01 with the remaining $20,821 unsecured with an interest rate of 10% and a maturity date of December 31, 2025. RMR is a company owned and controlled by the Company’s CEO.

The remaining balance consists of Accounts Payable of $331,842, Accrued Interest of $61,334, Accrued Payroll and Tax Expenses of $10,335, Notes Payable of $347,960, the Small Business Administration Economic Disaster Injury Loan assumed in the acquisition of Kindcard on June 7, 2021 current portion of $7,310, Accrued Interest long term portion of $9,158 and a principal balance of $150,000.

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Off-balance sheet arrangements

Other than the situation described in the section titled Capital Recourses and Liquidity, the company has no off-balance sheet arrangements that have or are reasonably likely to have a