Company: KCRD
Filing Date: 2025-05-19
Form Type: 10-K
Source: 0001477932-25-003933
Chunk: 308

Company: Kindcard, Inc.
Filing Date: 2025-05-19
Form: 10-K
Item: Item 1B
Chunk 308
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 payment processing “DEB Platform” through the Company’s wholly owned subsidiary, Deb, Inc. The Company amortizes intangible assets with a definitive life over their respective useful lives of 3-5 years. Assets with indefinite lives are tested for impairment on an annual basis, or more frequently if the Company believes indicators of impairment exist. The Company did not note any impairment at January 31, 2025 and January 31, 2024, respectively. On December 21, 2021 the Company entered into a contract to develop its proprietary payment processing DEB Platform. The platform is currently in testing, is anticipated to go into production in the fourth quarter of FY 2025 and is depreciated over 3 - 5 years.   January 31,  January 31,   2025  2024 Definite-lived intangible assets      Technology: DEB Platform $239,435  $224,210 Technology: Tendercard Program  3,200   3,200 Customer Lists  9,900   9,900 Website  5,200   5,200 Trade Name  2,800   2,800 Total  260,535   245,310 Less: accumulated amortization  (220,571 )  (136,585 )Definite-lived intangible assets, net $39,964  $108,725  The following is the future estimated amortization expense related to intangible assets as of January 31, 2025: Year ending January 31,   2026 - $23,469 2027 -  11,420 2028 -  5,075 Total - $39,964 

 F-12Table of Contents

Kindcard, Inc. and Subsidiaries

Notes to Consolidated Financial Statements

January 31, 2025

NOTE 5 – CURRENT LIABILITIES  Accounts Payable Accounts Payable is comprised of trade payables of $303,970 and $267,435 at January 31, 2025 and January 31, 2024, respectively. Accrued Payroll & Tax Expenses Balance consists of Accrued Salaries & Wages $6,423 and 6,042, Accrued Payroll Tax $1397 and $303, Payroll Tax Payable of $0