Company: MYCB
Filing Date: 2025-11-13
Form Type: 10-K
Source: 0001640334-25-002067
Chunk: 322

Company: My City Builders, Inc.
Filing Date: 2025-11-13
Form: 10-K
Item: Item 1B
Chunk 322
---
 exchange with due to related party  $-  $471,500 Common stock issued for settlement of debt $1,716,000  $2,850,000 Assignment of debts between two related parties  $-  $500,000 Reclassified home inventory cost to property and equipment $102,765  $- Issuance note payable for acquisition of land  $-  $50,000 Sales of subsidiaries  $2,374,896  $- Settlement sales of subsidiaries with dividend payable  $2,339,273  $- 

The accompanying notes are an integral part of these consolidated financial statements.

 F-7Table of Contents

My City Builders, Inc.

Notes to Consolidated Financial Statements

NOTE 1 - ORGANIZATION AND BUSINESS OPERATIONS My City Builders, Inc. (the “Company” or “My City Builders”) is a Nevada corporation incorporated on October 26, 2010 under the name Oconn Industries Corp. The Company’s name was changed on March 11, 2014 from Oconn Industries Corp. to Diamante Minerals, Inc., and to iMine Corporation on March 20, 2018 and to My City Builders, Inc on January 31, 2023. In July 2022, the Company acquired RAC Real Estate Acquisition Corp, a Wyoming Corporation ("RAC"). RAC is now a wholly owned subsidiary of the Company. The Company, through RAC, plans to focus on real estate transactions, in which the Company will buy and develop real estate for sale or rent of low-income housing. The Company plans to invest in three sectors of this market by (i) buying, refurbishing and selling traditional foreclosures, (ii) buying, developing and renting “Land Banks” that have an average pool of homes or lots in excess of 100 in one location and (iii) buying, refurbishing or developing and selling homes made available by the government through HECM pools. On March 27, 2023, RAC, a wholly owned subsidiary of the Company entered into a Limited Liability Company Agreement dated effective March 27, 2023, (the “Agreement”) with, Frank Gillen, an individual (“Mr. Gillen”) and Michael Colvard, an individual (“Mr. Colvard”). The purpose of the LLC is to build 3-bedroom 2-bathroom