Company: MYCB
Filing Date: 2025-09-25
Form Type: 10-Q
Source: 0001640334-25-001709
Chunk: 25

Company: My City Builders, Inc.
Filing Date: 2025-09-25
Form: 10-Q
Item: Part I, Item 1
Chunk 25
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 receivable The rental properties are managed by a management company, therefore 100% of accounts receivable of $4,363 and $2,607 is related to one customer on April 30, 2025, and July 31, 2024, respectively.

 F-17Table of Contents

NOTE 12 - SUBSEQUENT EVENTS Management has evaluated subsequent events through the date these financial statements were available to be issued. Based on our evaluation no material events have occurred that require disclosure, except as follows The Company sold the following homes:  Category    Property    Date    Sales     Payoff loan   Fixed assets   604 Blythe   6/5/2025 $191,000  $128,758 Inventory for sale   526 Spring Garden -Toledo   5/9/2025 $106,000  $- Inventory for sale   340 Cooledge -Wadley   8/5/2025 $138,000  $- Inventory for sale   653 Fair Rd -Sidney   6/2/2025 $169,000  $-  On July 8, 2025, the Company and RAC Merger LLC (“RAC Merger”) entered into a share purchase agreement in order to sell 100% issued and outstanding shares of RAC Real Estate Acquisition Corp., to RAC Merger for a total purchase amount of $2,374,896. At the time of the transaction, RAC Merger owned 98.5% of the total issued and outstanding shares of the Company. Therefore, in lieu of any cash distribution to RAC Merger as a shareholder of the Company, RAC Merger agreed that its 98.5% interest in the total purchase amount as a shareholder of the Company was satisfied by the assignment of the 100% issued and outstanding shares of RAC Real Estate Acquisition Corp. The remaining shareholders of the Company, which comprised 1.5% of the Company’s issued and outstanding shares as of the date of the transaction, received a cash distribution in the total amount of $35,623.44, which equals 1.5% of the total purchase amount.

F-18Table of Contents

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.

Overview

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