Company: KCRD
Filing Date: 2025-06-16
Form Type: 10-Q
Source: 0001477932-25-004628
Chunk: 44

Company: Kindcard, Inc.
Filing Date: 2025-06-16
Form: 10-Q
Item: Part II, Item 8
Chunk 44
---
  $2,237  Depreciation expense amounted to $628 and $3,890 with $627 and $2,241 reclassified as cost of goods sold at April 30, 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 also 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 April 30, 2025 and January 31, 2025, respectively.

 F-9Table of Contents

Kindcard, Inc. and Subsidiaries

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 -