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

Company: Kindcard, Inc.
Filing Date: 2025-06-16
Form: 10-Q
Item: Part I, Item 1
Chunk 10
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Condensed Notes to Consolidated Financial Statements (unaudited)

April 30, 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 testing, is anticipated to go into production in the second quarter of FY 2026 and is depreciated over 3 - 5 years.   April 30,  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  (238,398 )  (220,571 )Definite-lived intangible assets, net $22,137  $39,964  The following is the future estimated amortization expense related to intangible assets as of April 30, 2025: Year ending January 31,   2026 - $12,410 2027 -  8,458 2028 -  1,269 Total - $22,137 

NOTE 6 – CURRENT LIABILITIES Accounts Payable Accounts Payable is comprised of trade payables of $320,754 and $303,970 at April 30, 2025 and January 31, 2025, respectively. Accrued Payroll & Tax Expenses Balance consists of Accrued Salaries & Wages $6,042 and 6,423, Accrued Payroll Tax $462 and $1,397, Accrued Income Taxes of $3,687 and $3,687 and Sales Tax Payable of $31 and $29 at April 30, 2025 and January 31, 2025 respectively. Accrued Interest Balance consists of accrued interest notes payable of $44,574 and $38,335, accrued interest Due to Related Party of $6,240 and $4,963, and short-term portion of accrued interest SBA loan of $7,310 and