Company: KCRD
Filing Date: 2025-09-22
Form Type: 10-Q
Source: 0001477932-25-006912
Chunk: 67

Company: Kindcard, Inc.
Filing Date: 2025-09-22
Form: 10-Q
Item: Part II, Item 8
Chunk 67
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 the six-month period ended July 31, 2024. Total Cost of Sales for the six-month period ended July 31, 2025, was $38,700 resulting in a Gross Profit of $137,821 as compared to Total Cost of Sales for the six-month period ended July 31, 2024 of $40,334 resulting in a Gross Profit of $126,459. Operating Expenses for the six-month period ended July 31, 2025, were $371,365 resulting in Net Loss of $233,544. The net loss for the six-month period ended July 31, 2025, is comprised of General and Administrative Expenses of $349,646, and Depreciation and Amortization of $21,719, as compared to the net loss for the six-month period ended July 31, 2024 of $173,587 which were comprised of General and Administrative Expenses of $260,585, and Depreciation and Amortization of $39,461. The changes in results of operations for the six-month period ended July 31, 2025, as compared to the six-month period ended July 31, 2024 are primarily a result of a change in the accounting method used to record Fixed Annual Service fee revenues and Shares issued for services for the six month period ended July 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 July 31, 2025, we had $9,285 in cash, $19,764 in Accounts Receivable, $42,500 in Unbilled revenue, net, and Other Assets of $18,367. Total liabilities as of July 31, 2025, were $1,240,933 compared to $973,174 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 July 31, 2025, was $342,173. The amounts due to related party consist of an amount due to an executive of the Company of $4,925, a 1% Convertible Promissory Note in the amount of $296,498 (the “Note”) to RMR Management Group LLC