Company: MYCB
Filing Date: 2025-11-13
Form Type: 10-K
Source: 0001640334-25-002067
Chunk: 185

Company: My City Builders, Inc.
Filing Date: 2025-11-13
Form: 10-K
Item: Item 14
Chunk 185
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 Company has the ability to access at the measurement date. Valuation of these instruments does not require a high degree of judgment as the valuations are based on quoted prices in active markets that are readily and regularly available.    ·Level 2 - Inputs other than quoted prices in active markets that are either directly or indirectly observable as of the measurement date, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.    ·Level 3 - Valuations based on inputs that are unobservable and not corroborated by market data. The fair value for such assets and liabilities is generally determined using pricing models, discounted cash flow methodologies, or similar techniques that incorporate the assumptions a market participant would use in pricing the asset or liability. Financial instruments, including cash, prepaid expense, , accounts payable and accrued liabilities, , and due to related parties, are carried at amortized cost, which management believes approximates fair value due to the short-term nature of these instruments. Discontinued Operations  The Company accounts for discontinued operations in accordance with ASC 205-20. A discontinued operation is a component of the Company that has been disposed of or classified as held for sale and represents a strategic shift that has (or will have) a major effect on the Company’s operations and financial results. Discontinued operations are reported separately net of taxes for all periods presented  from continuing operations in the consolidated statements of income for all periods presented. Assets and liabilities of discontinued operations are presented separately for all periods presented  in the consolidated balance sheets. The Company provides additional disclosures in the notes, including major classes of assets and liabilities, results of operations, and cash flows related to discontinued operations, unless otherwise indicated, the information in the notes to the consolidated financial statements refers only to the Company’s continuing operations.  General and administrative expenses General and administrative expenses primarily consist of office expenses, travel, meals and entertainment and insurance. Income Taxes The Company provides income taxes under ASC 740, Accounting for Income Taxes. ASC 740 requires the use of an asset and liability approach in accounting for income taxes. Deferred tax assets and liabilities are recorded based on the differences between the financial statement and tax bases of assets and liabilities and the tax rates in effect when these differences are expected to reverse. ASC 740 requires the reduction of deferred tax assets by a valuation allowance if, based on the