Company: KCRD
Filing Date: 2025-09-22
Form Type: 10-Q
Source: 0001477932-25-006912
Chunk: 58

Company: Kindcard, Inc.
Filing Date: 2025-09-22
Form: 10-Q
Item: Part II, Item 8
Chunk 58
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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

 Kindcard, Inc. and Subsidiaries

Condensed Notes to Consolidated Financial Statements (unaudited)

July 31, 2025

NOTE 8 – LOANS (continued)

SBA Loan (continued)

 Year ending January 31,  2026: $- 2027:  6,579 2028:  8,772 2029:  8,772 2030:  8,772 Thereafter  117,105 Total future minimum loan payments $150,000  Notes Payable Loans payable consist of a series of short term loans with a combined balance of $343,882 and $221,646 at July 31, 2025 and January 31, 2025. These loans are with vendors, consultants and advisors of the Company, are unsecured and have interest rates ranging from 7% to 12% per annum and maturity dates within one