LOANS |
3 Months Ended | ||||||||||||||||||||||||||||||
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Apr. 30, 2026 | |||||||||||||||||||||||||||||||
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| LOANS | NOTE 6 – 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. In November 2025, the SBA renewed its UCC filing for the loan and charged the Company $20 for the filing fee by increasing the loan’s principal balance by $20. An additional $26,989 of interest was accrued and $13,084 in installments payments have been made as of April 30, 2026, for a total balance of $167,085. 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 installments of $73, on September 15, 2025 the accommodation plan was extended for an additional six months, in March 2025 a final extension was granted for an additional twelve months of installment payments of $366 ending on February 15, 2026.
Year ending January 31,
Notes Payable
Loans payable consist of $406,351 and $384,817 in short term loans payable at April 30, 2026 and January 31, 2026 These loans with non-related parties are unsecured and have interest rates ranging from 7% to 12% per annum and maturity dates within one to twelve months. |