Company: MYCB
Filing Date: 2025-11-13
Form Type: 10-K
Source: 0001640334-25-002067
Chunk: 592

Company: My City Builders, Inc.
Filing Date: 2025-11-13
Form: 10-K
Item: Item 6
Chunk 592
---
 purchase amount. The following table summarizes the consideration paid for share purchase agreement and the amounts of the assets acquired and liabilities assumed at the share purchase agreement date of July 8, 2025 for two subsidiaries of RAC Real Estate Acquisition Corp and RAC Gadsden, LLC:  Consideration:   Aggregate sales price  $2,374,896      Assets sold and liabilities assumed:    Cash at bank  $9,639 Homes inventory for sales   1,743,597 Properties and equipment   2,271,245 Other receivable   16,376 Total assets  $4,040,857      Bank borrowings  $1,231,712 Loan payable   50,000 Due to related parties   118,910 Accounts payable and accrued liabilities  34,609 Total liabilities  $1,435,231      Net assets $2,605,626      Loss on sale of subsidiaries  $(230,730)

 F-12Table of Contents

The following is a summary of the assets and liabilities of the Company’s discontinued operations at July 8, 2025 and July 31, 2024:   July 8,  July 31,   2025  2024 Cash $9,639  $17,695 Prepaid expenses  5,743   - Accounts receivable  10,633   2,607 Homes inventory for sales   1,743,597   1,613,004 Total current assets from discontinued operations  1,769,612   1,633,306          Property and equipment  2,271,245   1,833,192 Total assets from discontinued operations $4,040,857  $3,466,498          Accounts payable and accrued liabilities  33,609   62,437 Rent deposit payable   1,000   - Loan payable - current portion   25,000   25,000 Due to My City Builders, Inc.  3,927,391   2,382,029 Loans payable, related party   -   28,500 Due to related parties  118,910   1,059,478 Bank borrowings - current portion,