Company: MYCB
Filing Date: 2025-09-25
Form Type: 10-Q
Source: 0001640334-25-001709
Chunk: 75

Company: My City Builders, Inc.
Filing Date: 2025-09-25
Form: 10-Q
Item: Part II, Item 8
Chunk 75
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 Square Foot. Those valuations were not more than sales comparison price. On October 18,2024, the Company acquired one home located at 1320 ½ 5th Avenue , Laurel MS 39440 for amount of $8,021and paid restoration and repairs expenses of $10,943 for selling. On November 26, 2024, The Company entered into an interest purchase agreement with Frank Campanaro in connection with settlement agreement dated June 2024 for 50% ownership of a property located at 1320 N 5th Avenue, Laurel, MS in amount of $41,565 in cash. Pursuant to acquisition agreement, the Company’s ownership of property was increased to 100%. No allowance for obsolescence or impairment from lower of cost and net realizable value has been made as of and for the period ended April 30, 2025. On April 1, 2025, the Company reallocated the home from inventory for sale to fixed assets and the home was leased for monthly $2,150 starting April 1, 2025.  As of April 30, 2025, and July 31, 2024, homes inventory for sales consist of as follows: Nonmonetary gain recognized of 29 properties $1,530,117 Title cost paid in July 2024  82,888 Balance of 29 properties as of July 31,2024   1,613,005      Cost of restoration and repairs   363,014 Purchased 50% interest and right of one property   41,565 Purchased one home for sales   18,976 Allocation one home to property for lease   (102,765)Balance of 29 properties as of April 30,2025 $1,933,795 

NOTE 5 –REAL ESTATE PROPERTY AND EQUIPMENT, NET As of April 30, 2025, and July 31, 2024, property and equipment consist of as follows;   April 30,  July 31,   2025  2024 Homes $1,926,127  $1,318,062 Lands  214,681   132,708 Construction in progress  260,538   414,407 RV Travel Trailer   13,000   -