Company: MYCB
Filing Date: 2025-09-25
Form Type: 10-Q
Source: 0001640334-25-001709
Chunk: 77

Company: My City Builders, Inc.
Filing Date: 2025-09-25
Form: 10-Q
Item: Part II, Item 8
Chunk 77
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During the nine months ended April 30, 2025, and 2024, the Company's shareholders paid operating expenses of $0 and $16,889 on behalf of the Company.  The advances are unsecured, due on demand and non-bearing interest. During the nine months ended April 30, 2025, and 2024, the Company’s related parties advanced $1,249,200 and $382,700 to the Company, and the Company repaid $115,700 and $265,889, respectively. The advances are unsecure, due on demand and non-bearing interest. During the nine months ended April 30, 2024, the Company repaid advances due to the Company’s officers for $29,922. The advances are unsecured, due on demand and the interest 10% of advanced amount will be an interest expense when the Company repays. During the nine months ended April 30,2024, the Company paid $1,840 interest. During the nine months ended April 30, 2025, and 2024, the Company’s related parties advanced $1,249,200 and $300,000 and the Company repaid $340,699 and $100,000, respectively. The advances are unsecured, payable during the period of five to ten months with interest of a range from 12% to 24% annual. During the nine months ended April 30, 2025, and 2024, the Company recognized and paid interest expenses of $0 and $20,080, respectively.  During the nine months April 30, 2025, and 2024, the Company’s Board of Directors approved the settlement of $1,716,000 and $2,850,000 due to one related party in exchange of issuance of 4,290,000 shares and 11,400,000 shares of common stock. On April 17,2025, one related party obtained $489,400 loans from the bank with collateral of four homes. The cash proceeds from mortgage were utilized for settlement of four the Company’s line of credits of $353,099 and the net balance of $136,301 after the closing cost of $17,333 transferred to the Company’s bank account. 

 F-13Table of Contents

During the nine months ended April 30, 2025, and