Company: MYCB
Filing Date: 2025-11-13
Form Type: 10-K
Source: 0001640334-25-002067
Chunk: 831

Company: My City Builders, Inc.
Filing Date: 2025-11-13
Form: 10-K
Item: Item 9C
Chunk 831
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 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. As of July 31, 2025 and 2024, the Company had no options and warrants outstanding. As of July 31, 2025 and 2024, the Company had 16,276,686 shares and 11,986,686 shares of common stock issued and outstanding, respectively.  Dividend During the year ended July 31, 2025, the Company approved dividend of $2,374,896 and settled dividend of $2,339,273 with stockholders. As of July 31, 2025, the unpaid dividend was $35,623.

 F-16Table of Contents

NOTE 7 - INCOME TAXES The provision for refundable federal income tax at 21% consists of the following for the periods ending:   Years Ended   July 31,   2025  2024        Income (Loss) for the year $(498,315) $25,752          Income tax (benefit) at statutory rate $(104,646) $5,408 Change in valuation allowance  104,646   (5,408)Income tax expense per books $-  $-  The Company assesses the likelihood that deferred tax assets will not be realized. ASC 740, “Income Taxes” requires that a valuation allowance be established when it is “more likely than not” that all, or a portion of, deferred tax assets will not be realized. A review of all available positive and negative evidence needs to be considered, including the scheduled reversal of deferred tax liabilities, projected future taxable income, and tax planning strategies. After consideration of all the information available, management believes that uncertainty exists with respect to future realization of its deferred tax assets and has, therefore, established a full valuation allowance as of July 31, 2025. Net deferred tax assets consist of the following components as of: