Company: MYCB
Filing Date: 2025-09-25
Form Type: 10-Q
Source: 0001640334-25-001709
Chunk: 69

Company: My City Builders, Inc.
Filing Date: 2025-09-25
Form: 10-Q
Item: Part II, Item 8
Chunk 69
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 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, accounts receivable, home inventory for sales, accounts payable and accrued liabilities, loan payable, bank borrowings and due to related parties, are carried at amortized cost. As of April 30, 2025, and July 31, 2024, the carrying amounts of financial instruments, approximated to their fair values due to the short-term maturity of these instruments. Long term investment The investments for which the Company has the ability to exercise significant influence are accounted for under the equity method. Under the equity method, the Company initially records its investment at cost. The difference between the cost of the equity investment and the amount of the underlying equity in the net assets of the equity investee is recognized as equity method goodwill or as an intangible asset as appropriate. Real Estate Property and equipment Real estate properties and equipment are stated at cost less accumulated depreciation. We capitalize all costs incurred to acquire, develop, construct, renovate and improve real estate property as part of major repair and maintenance programs, including interest and property taxes incurred during the construction period. We expense routine repair and maintenance costs as incurred. Depreciation is calculated using the straight-line over the estimated useful lives which are reviewed periodically and generally have the following ranges: Home for rent: 27 years and Vehicle for 3 years. Construction in progress is not depreciated until ready for service. The amount of interest capitalized during the nine months ended April 30, 2025, and 2024, are $10,815 and $25,000, respectively. Homes inventory for sales Homes inventory for sales are the homes that Company intended to sell. The homes inventory for sales are stated at lower cost or net realizable value, with cost and net realizable value determined by the specific identification of each home. The costs include initial purchase costs, title cost, restoration and repairs costs. The Company reviews inventory for impairment on an annual basis, or more frequently if events or changes in circumstances indicate that the carrying value of inventory may not be recoverable.

 F-8Table of Contents

Impairment of Long-Lived Assets Long-lived assets with finite lives, primarily investments, real estate inventories, property, and equipment, including real estate properties held for lease, and operating