Tue, Dec 17, 10:01 PM (31 days ago)
For the quarter ended October 31, 2024, Kindcard, Inc. (KCRD) reported revenues of $139,366, a 11.1% increase from $125,410 in the same period of 2023. However, total revenues for the nine months decreased to $306,159 from $381,373 year-over-year. The company experienced a gross profit of $114,104 for the quarter, compared to $95,264 in 2023, while operating expenses were $121,692, leading to a net loss from operations of $7,588, significantly improved from a loss of $48,696 in the previous year. Total liabilities rose to $1,072,554, up from $956,878 at the beginning of the year, primarily due to increased accounts payable and accrued interest. The company's cash position improved to $14,067, but it still faces a working capital deficit of $882,234 and an accumulated deficit of $1,351,088. Management acknowledges the need for additional funding to sustain operations and achieve profitability, highlighting uncertainties regarding future operations. The company is focused on expanding its market share in the fintech sector through its "Pay with Deb" platform, aiming to enhance user engagement and revenue generation.