Company: KCRD
Filing Date: 2025-06-16
Form Type: 10-Q
Source: 0001477932-25-004628
Chunk: 49

Company: Kindcard, Inc.
Filing Date: 2025-06-16
Form: 10-Q
Item: Part II, Item 8
Chunk 49
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 CEO, Michael Rosen. As of January 31, 2025 $2,248 in interest has been accrued for a total balance of $298,745. 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 $2,656 in interest has been accrued for a total balance of $27,325. 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 April 20, 2025 RMR loaned an additional $7,967 to the Company $754 in interest has been accrued and $30,652 in payments have been made for a total balance of $15,574. RMR is a company owned and controlled by the Company’s CEO, Michael Rosen.

NOTE 10 – COMMON STOCK The Company is authorized to issue 200,000,000 common shares with a par value of $0.001 per share. No preferred shares have been authorized or issued. On January 26, 2023, the Company issued 6,500,000 shares of common stock to Brian Schultz in exchange for certain business, operations, and financial advisory services provided to the Company pursuant to an agreement dated December 12, 2022. The shares were issued at $0.0054 per share ($34,876) based on the current weighted average cost per share calculated using subsequent share prices issued for cash given the Company did not have an active trading market, with a par value of $0.001 per share. $34,876 in consulting fees has been accrued over the life of the twelve-month agreement with $30,517 recorded as prepaid expense at January 31, 2023. On January 26, 2023, the Company issued