Company: MYCB
Filing Date: 2025-11-13
Form Type: 10-K
Source: 0001640334-25-002067
Chunk: 256

Company: My City Builders, Inc.
Filing Date: 2025-11-13
Form: 10-K
Item: Item 1A
Chunk 256
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ntal tenant of $4,195,loss on disposition of subsidiaries of $230,730,  rent deposit payable of $1,000 , dividends payable of $35,623 and increased by gain on sales of property of $17,793, prepaid expenses of $10,743, accounts receivable of $12,221, accounts payable and accrued liabilities of $43,232, homes inventory cost for sales of $233,357 and due from related party of $35,623.

We have not generated positive cash flows from operating activities. For the year ended July 31, 2024, net cash flows used in operating activities was $483,064, consisting of a net income of $25,752, increased by impairment loss on investment of $947,500, depreciation expenses of $31,985, amortization of debt discount of $2,203, prepaid expenses of $34,858, accrued interest income of $265, accrued interest -related party of $3,958, due to related party of $16,889,and reduced by nonmonetary gain recognition for homes inventory for sales of $1,298,696, accounts payable and accrued liabilities of $162,283, accounts receivable of $2,607, homes inventory cost for sales of $82,888.

Cash Flows from Investing Activities

For the year ended July 31, 2025, the Company used $461,680 for construction payments, $89,867 for purchase of one RV travel trailer and one land in Gadsden and received $169,871 from sales of one home. 

For the year ended July 31, 2024, the Company used $930,901 for payments of construction.

Cash Flows from Financing Activities

For the year ended July 31, 2025, the Company received advances from a related party of $1,302,700, bank borrowings of $696,344 and repaid loans payable -related party of $28,500, bank borrowings of $517,500 and repaid due to related parties of $575,200.

For the year ended July 31, 2024, the Company received bank borrowing of $569,603, advances from related parties of $1,108,700 and repaid due to related parties of $395,811.

Going Concern

The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates the realization of assets and the liquidation of liabilities in