Company: MYCB
Filing Date: 2025-11-13
Form Type: 10-K
Source: 0001640334-25-002067
Chunk: 141

Company: My City Builders, Inc.
Filing Date: 2025-11-13
Form: 10-K
Item: Item 12
Chunk 141
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 is owned by certain shareholders, officers and directors of the Company or its wholly owned subsidiary, RAC Real Estate Acquisition Corp.  During the period ended July 31, 2025, RAC Merger as a majority shareholder of the Company, was paid it a part of purchase price in the form of the property it received which equaled the amount $2,339,273. As of July 31, 2025, RAC Merger owned to the Company for amount of $35,623 to be distributed as a dividend to the remaining minority shareholders of the Company.  

NOTE 6 - EQUITY Authorized Preferred Stock The Company has authorized 10,000,000 shares of preferred stock at par value of $0.001 per share. Series A Preferred stock  The Company has designated 100,000 shares of preferred stock at par value of $0.001 per share.  ·The Series A Preferred Shares share in any dividends pari passu with the holders of common stock;    ·The Series A Preferred Shares have a liquidation preference equal to $10.00 per share;    ·Each share of Series A Preferred Stock entitles the holder to 10 votes on any matter presented to the holders of the Common Stock:    ·The Series A Preferred Shares have the right to convert into shares of Common Stock at a 25% discount to the next financing of $1,000,000 or more, subject to adjustment for stock splits or combinations, dividends and distributions of Common Shares, reorganizations, mergers or consolidations, or for issuance of shares of common stock below the conversion price:    ·The Company has no right to redeem the shares; and As of July 31, 2025 and 2024, the Company had 100,000 shares of preferred stock issued and outstanding. Authorized Common Stock The Company has authorized 300,000,000 shares of common stock at par value of $0.001 per share. Each share of common stock entitles the holder to one vote on any matter on which action of the stockholders of the corporation is sought. During the years ended July 31, 2025, and 2024, the Company issued 4,290,000 share and 11,400,000 shares for the settlement of due to a related party of $1,716,000 and $2,850,000, respectively.