Company: MYCB
Filing Date: 2025-09-25
Form Type: 10-Q
Source: 0001640334-25-001709
Chunk: 47

Company: My City Builders, Inc.
Filing Date: 2025-09-25
Form: 10-Q
Item: Part I, Item 2
Chunk 47
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We had a net loss of $215,051 for the nine months ended April 30, 2025, and $1,174,411 for the nine months ended April 30, 2024. The decrease in net loss of $959,360 was due to a decrease in operating expenses of $5,515, other expenses of $900,386 and an increase in income tax of $1,128, offset by an increase in revenue of $54,587.

Operating expenses for the nine months ended April 30, 2025, and 2024 were $224,669 and $230,184, respectively. For the nine months ended April 30, 2025, and 2024, the operating expenses were primarily attributed to professional fees of $112,360 and $165,750, general and administrative expenses of $37,043 and $36,979, depreciation expenses of $50,317 and $20,890, and cost of rental homes of $24,949 and $6,565 respectively. The cost of rental homes was for rented homes such as lawncare, maintenance and repairs, management fees, utilities, insurance and property taxes.

Other expenses for the nine months ended April 30, 2025, and 2024, represent interest expenses -related party of $0 and $23,062 for granted loans, interest expenses of $79,486 and $9,310 for banks borrowings and loan payable to third party and impairment loss on investment of $0 and $947,500, respectively.

Income tax for nine months ended April 30, 2025, is related to payment income tax of $1,128 for year ended July 31, 2024.

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Balance Sheet Data

  April 30,  July 31,      2025  2024  Change Cash  $15,813  $20,245  $(4,432)Working capital  $1,523,883  $64,205  $1,459,678 Total current assets $1,975,564  $1,635,857  $339,707 Total current liabilities $451,681  $1,571,652  $(1,119,971)Stockholders’ Equity  $2,662,629  $1,161,680  $1,500,