Company: MYCB
Filing Date: 2025-09-25
Form Type: 10-Q
Source: 0001640334-25-001709
Chunk: 35

Company: My City Builders, Inc.
Filing Date: 2025-09-25
Form: 10-Q
Item: Part I, Item 1
Chunk 35
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 the nine months ended April 30, 2024, net cash flows used in operating activities was $172,366, consisting of a net loss of $1,174,411, reduced by impairment loss on investment of $947,500, depreciation expenses of $20,889, amortization of debt discount of $1,458, prepaid expenses of $34,858, accrued interest income of $265,accrued interest -related party of $4,453,due to related party of $16,889 and increased by accounts payable and accrued liabilities of $24,166 and accounts receivable of $101.

Cash Flows from Investing Activities

During the nine months ended April 30, 2025, and 2024, the Company used $356,535 and $657,754 for payments of construction expenses, $89,868 and $0 for acquisition of one RV travel trailer and one land in Gadsden, respectively.

Cash Flows from Financing Activities

During the nine months ended April 30, 2025, the Company received advances from a related party of $1,249,200, bank borrowings of $575,690 and repaid loans payable -related party of $28,500, bank borrowings of $369,683 and $340,700 to related parties.

During the nine months ended April 30, 2024, the Company received advances from related parties of $682,700, bank borrowings of $413,061, and repaid $395,811 to related parties.

 8Table of Contents

Going Concern

Our consolidated financial statements have been prepared assuming that we will continue as a going concern, which contemplates the realization of assets and the liquidation of liabilities in the normal course of business. During the nine months ended April 30, 2025, we incurred net loss of $215,051 and net cash used in operating activities of $644,036. As of April 30, 2025, we had an accumulated deficit of $2,234,659 and working capital of $1,523,883. In order to continue as a going concern, the Company will need, among other things, additional capital resources. Management plans to raise necessary funding through equity and debt financing arrangements, which may be insufficient to fund its capital expenditures, working capital and other cash requirements. The ability of the Company is dependent upon, among other things, obtaining financing to continue operations and continue developing the business plan. The Company cannot give any assurance