Company: KCRD
Filing Date: 2025-05-19
Form Type: 10-K
Source: 0001477932-25-003933
Chunk: 363

Company: Kindcard, Inc.
Filing Date: 2025-05-19
Form: 10-K
Item: Item 2
Chunk 363
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 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 $2,055 in interest has been accrued for a total balance of $26,724.  During the year 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, $284 in interest has been accrued and $13,533 in payments have been made for a total balance of $24,256. RMR is a company owned and controlled by the Company’s CEO, Michael Rosen. 

 F-16Table of Contents

Kindcard, Inc. and Subsidiaries

Notes to Consolidated Financial Statements

January 31, 2025

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 3,500,000 shares of common stock to Nicholas Cardoso 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 ($18,780) based on the current