Company: KCRD
Filing Date: 2025-09-22
Form Type: 10-Q
Source: 0001477932-25-006912
Chunk: 55

Company: Kindcard, Inc.
Filing Date: 2025-09-22
Form: 10-Q
Item: Part II, Item 8
Chunk 55
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  January 31,    2025   2025 Merchandise and equipment: Vault $10,000  $10,000 Merchandise and equipment: Office Equipment  4,286   4,286 Merchandise and equipment: IT Equipment  4,945   4,945 Total Cost $19,231  $19,231 Less: accumulated depreciation  (18,121 )  (16,994 )Property and equipment, net $983  $2,237  Depreciation expense amounted to $1,255 and $3,890 with $755 and $2,241 reclassified as cost of goods sold at July 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 July 31, 2025 and January 31, 2025, respectively.

 F-9Table of Contents

 Kindcard, Inc. and Subsidiaries

Condensed Notes to Consolidated Financial Statements (unaudited)

July 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 testing, is anticipated to go into production in the second quarter of FY 2026 and is depreciated over 3 - 5 years.   July 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