Company: MYCB
Filing Date: 2025-11-13
Form Type: 10-K
Source: 0001640334-25-002067
Chunk: 389

Company: My City Builders, Inc.
Filing Date: 2025-11-13
Form: 10-K
Item: Item 2
Chunk 389
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ivable of $2,607, homes inventory cost for sales of $82,888.

Cash Flows from Investing Activities

For the year ended July 31, 2025, the Company used $461,680 for construction payments, $89,867 for purchase of one RV travel trailer and one land in Gadsden and received $169,871 from sales of one home. 

For the year ended July 31, 2024, the Company used $930,901 for payments of construction.

Cash Flows from Financing Activities

For the year ended July 31, 2025, the Company received advances from a related party of $1,302,700, bank borrowings of $696,344 and repaid loans payable -related party of $28,500, bank borrowings of $517,500 and repaid due to related parties of $575,200.

For the year ended July 31, 2024, the Company received bank borrowing of $569,603, advances from related parties of $1,108,700 and repaid due to related parties of $395,811.

Going Concern

The accompanying consolidated financial statements have been prepared assuming that the Company 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 year ended July 31, 2025, the Company incurred a net loss of $498,315. As of July 31, 2025, the Company had an accumulated deficit of $4,893,332. In order to continue as a going concern, the Company will need, among other things, additional capital resources. Management’s plans to raise necessary funding through equity financing arrangements, which may be insufficient to fund its capital expenditures, working capital and other cash requirements for the year ended July 31, 2025. However, until the Company engages in an active business or makes an acquisition the Company is likely not to be able to raise any significant debt or equity financing.

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The ability of the Company to begin operations in its new business model is dependent upon, among other things, obtaining financing to commence operations and develop a business plan or making an acquisition. The Company cannot give any assurance as to its ability to develop or acquire a business or to operate profitably.

These factors, among others, raise substantial doubt about the Company’s ability to continue as a going concern. The accompanying consolidated financial statements do not include any adjustments that might result from the outcome