Company: KCRD
Filing Date: 2025-12-22
Form Type: 10-Q
Source: 0001477932-25-009119
Chunk: 11

Company: Kindcard, Inc.
Filing Date: 2025-12-22
Form: 10-Q
Item: Part I, Item 1
Chunk 11
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 (16,994)Property and equipment, net $355  $2,237  Depreciation expense amounted to $1,855 and $3,890 with $1,427 and $2,241 reclassified as cost of goods sold at October 31, 2025, and January 31, 2025, respectively.

NOTE 5 – INTANGIBLE ASSETS Intangible assets Intangible assets are comprised of customer relationships and brands acquired in a business combination specifically related to the Company’s Tendercard division (see Note 2) and comprised of development costs for its proprietary 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 October 31, 2025 and January 31, 2025, respectively.

F-9Table of Contents

 Kindcard, Inc. and Subsidiaries

Condensed Notes to Consolidated Financial Statements (unaudited)

October 31, 2025

NOTE 5 – INTANGIBLE ASSETS (continued)

 On December 21, 2021 the Company entered into a contract to develop its proprietary payment processing DEB Platform. The platform is currently in the initial stages of production and testing and is depreciated over 3 - 5 years.   October 31,  January 31,   2025  2025 Definite-lived intangible assets      Technology: DEB Platform $239,435  $239,435 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   260,535 Less: accumulated amortization  (247,341 )  (220,571 )Definite-lived intangible assets, net $13,194  $39,964  The following is the future estimated amortization expense related to intangible assets as of October 31, 2025: Year ending January 31,   2026 - $3