Company: MYCB
Filing Date: 2025-09-25
Form Type: 10-Q
Source: 0001640334-25-001709
Chunk: 22

Company: My City Builders, Inc.
Filing Date: 2025-09-25
Form: 10-Q
Item: Part I, Item 1
Chunk 22
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 collateral of four homes, The Company accepted the terms and condition of four bank loans agreements. During the nine months ended April 30, 2025, the Company paid principal of $6,475 and recognized interest of $33,373 and paid interest of $29,656. Loans dated April 17, 2025 On April 17, 2025, the Company’s shareholder and director obtained four loans (totally $489,400) with collateral of four homes for settlement of four line of credits for amounts of $353,099.   During the nine months ended April 30, 2025, the Company recognized amortization debt discount of $19. During the nine months ended April 30, 2025, the Company allocated interest of $10,550 from total interest of $78,963 related to the above loans to construction in progress.  The following table outlines the maturities of our long-term loans payable, as of April 30, 2025:    April 30   2025 Year ending July 31,   Remaining of 2025 $133,326 2026  110,936 2027  110,936 2028  110,936 2029  110,936 Thereafter  2,870,606    3,447,676  Imputed interest    (2,157,404)  $1,290,272 

 F-15Table of Contents

NOTE 8 – LOANS PAYABLE - RELATED PARTY As of April 30, 2025, loans payable – related party consist of as follows;   Principal   Maturity  Interest   April 30  July 31,   Amount  date  Rate   2025  2024 Loan dated December 1, 2023 $125,000  12/1/2053  9.50% $-  $22,500 Loan dated December 1, 2023 $125,000  12/1/2053  9.50%  -   6,000 Total loans payable            -   28,500 Less: current portion             -   (28,500)Long -term loans portion            $-