Kindcard Inc.

KCRD: 10-Q · periodic report

KindCard, Inc.'s 10-Q for the quarter ended July 31, 2026 carries substantial doubt about its ability to continue as a going concern: the company holds just $9,254 in cash against a working capital deficit of $1,056,964 and accumulated losses of $1,749,171, and says it will rely on private placements and related-party advances to fund operations. Management concluded that disclosure controls and procedures were not effective, citing a material weakness after $53,150 of a $59,000 OnDeck loan to subsidiary Tendercard was transferred to CEO Michael Rosen without prior related-party review. Rosen, the company's sole director, subsequently signed an Assumption Agreement assuming the loan's economic obligation, indemnifying the company, and backing it with a pledge of 32,333,334 shares (about 31.22% of shares outstanding) held through his RMR Management LLC. Results weakened on the top line: fiscal Q2 revenue fell to $72,758 from $90,930 a year earlier, and six-month revenue slipped to $146,933 from $176,521, led by a decline in the core Tendercard program. The six-month net loss narrowed to $116,601 from $233,544 on lower general and administrative spending. Total liabilities of $1,301,316 stand against total assets of only $66,506, leaving a stockholders' deficit of $1,234,810. CEO-controlled RMR also holds a 1% convertible note with a $179,552 balance convertible at $0.01 per share, a steep dilution overhang if exercised.

SEC 10-Q•1mo ago

KCRD: NT 10-Q · late filing

Kindcard, Inc. filed a Form 12b-25 notification of late filing on September 15, 2026, stating it could not timely file its Quarterly Report on Form 10-Q for the fiscal quarter ended July 31, 2026. The company said it was unable, without unreasonable effort or expense, to compile all information needed for the financial statements and related disclosures, and it checked the box indicating the 10-Q will be filed within the five-calendar-day grace period. Kindcard checked "No" on whether a significant change in results of operations versus the prior-year period is anticipated, and confirmed all other required periodic reports were filed over the preceding 12 months. The notification was signed by President and Director Michael Rosen.

SEC NT 10-Q•1mo ago

KCRD: 10-Q · periodic report

Kindcard reported revenue of $74,175 for the three months ended April 30, 2026, a decrease from $85,591 in the prior year period. The company recorded a net loss of $62,418, widening from a loss of $55,064 in the same period last year. The filing raises substantial doubt about the company's ability to continue as a going concern due to a working capital deficit of $1,027,311 and accumulated deficits of $1,694,988. Management stated that additional funding is required to meet ongoing obligations and fund anticipated operating losses. As of April 30, 2026, the company held only $9,140 in cash against total liabilities of $1,240,775. The balance sheet includes $177,004 due to related parties, primarily consisting of loans from RMR Management Group LLC, an entity controlled by the CEO.

SEC 10-Q•4mo ago

KCRD: NT 10-Q · late filing

Kindcard, Inc. notified the SEC that it is unable to file its Form 10-Q for the quarter ended April 30, 2026 on time. The company cited an inability to compile financial statement information and related disclosures without unreasonable effort or expense, though it intends to file within the five-day extension period provided by Rule 12b-25. Management indicated that it does not anticipate significant changes in results of operations from the corresponding period in the prior fiscal year.

SEC NT 10-Q•4mo ago