Company: KCRD
Filing Date: 2025-09-22
Form Type: 10-Q
Source: 0001477932-25-006912
Chunk: 14

Company: Kindcard, Inc.
Filing Date: 2025-09-22
Form: 10-Q
Item: Part I, Item 1
Chunk 14
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 a total balance of $17,042. During the period 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. In the period ended July 31, 2025 RMR loaned an additional $1,712 to the Company $189 in interest has been accrued and $16,520 in payments have been made for a total balance of $5,047. RMR is a company owned and controlled by the Company’s CEO, Michael Rosen. The total amount owed to the Company’s CEO as of July 31, 2025 was $342,173 and January 31, 2025 was $386,805 with accrued interest of $7,429 and $4,963, respectively. During the period ended January 31, 2025 an executive of the Company gave the Company use of a revolving credit account on an ongoing basis for working capital purposes. The account is noninterest bearing and payable monthly. The balance is comprised of trade payables of $4,925 and $10,070 at July 31, 2025, and January 31, 2025, respectively. 

NOTE 8 – LOANS SBA Loan The balance consists of Small Business Administration Economic Disaster Injury Loan assumed in the acquisition of Kindcard on June 7, 2021, with a principal balance of $150,000 and $3,160 accrued interest for a total balance of $153,160. An additional $22,197 of interest was accrued and $8,845 in installments payments have been made as of July 31, 2025, for a total balance of $166,512. The term of the note is 30 years with an interest rate of 3.75% per annum, installment payments of $731 began April 14, 2023, and consist of interest only for the first thirty months. On March 15, 2024, the Company entered into an SBA accommodation plan with twelve months of reduced installment payments of $73, as of March 15, 2025 the accommodation plan has been extended for an additional six months with installment payments of $366.

 F-11Table of Contents