Company: MYCB
Filing Date: 2025-11-13
Form Type: 10-K
Source: 0001640334-25-002067
Chunk: 5

Company: My City Builders, Inc.
Filing Date: 2025-11-13
Form: 10-K
Item: Item 1
Chunk 5
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5) are currently on the market for sell with  seven (7) homes  leased with monthly lease payments ranging from $1,100 to $2,150, each for a period of one year for each home leased.

Pursuant to the share purchase agreement dated July 8, 2025, the Company recognized discontinued operations regarding disposal of two entities of RAC Real Estate Acquisition Corp. and RAC Gadsden LLC. As result of discontinued operations, the Company recognized loss from discontinued operations of $162,513 and loss on disposal of two entities of $230,730. As a result of the discontinued operations, the Company briefly became a shell company.

Subsequently, on October 31, 2025, the Company and RAC Gadsden LLC entered into an asset purchase agreement, in which, the Company acquired 4 acres of land in Glencoe, Alabama in exchange for a 3-year secured promissory note in the amount of $350,000 with an interest rate of 9.5% per annum. The Company intends to construct up to 25 multi-family units in three phases starting with an 8-unit multi-family duplex development on the property as phase one. As a result of this agreement the Company is no longer considered a shell company.

Organization

We are a Nevada corporation incorporated on October 26, 2010, under the name Oconn Industries Corp. On March 11, 2014, we changed our corporate name to Diamante Minerals, Inc. On March 20, 2018, we changed our corporate name to iMine Corporation. On January 31, 2023, we changed our corporate name to My City Builders, Inc.

Our address is 100 Biscayne Blvd., #1611, Miami FL 33132, telephone (786) 553-4006. Our corporate website is www.mycitybuilders.com.

Sales and Marketing

We intend to market our properties to those seeking homes, including low-income individuals and families. We may engage third-party real estate brokers and agents to provide these services.

Competition

We believe there are only limited barriers to entry into our business. Current and future competitors may have more resources than we have. Our projects face competition generally from REITs, institutional pension plans and other public and private real estate companies and private real estate investors for the acquisition of properties and for raising capital. In transaction services, we face competition with real estate firms in the acquisition and disposition of properties, and we