Company: MYCB
Filing Date: 2025-11-13
Form Type: 10-K
Source: 0001640334-25-002067
Chunk: 381

Company: My City Builders, Inc.
Filing Date: 2025-11-13
Form: 10-K
Item: Item 2
Chunk 381
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,623.  

Securities Authorized for Issuance under Equity Compensation Agreements

None.

Recent Sales of Unregistered Securities

During the past two years, we effected the following transactions in reliance upon exemptions from registration under the Securities Act:

On January 17, 2024, the Company issued 11,400,000 shares of common stock for the settlement of due to a related party of $2,850,000.

On January 22, 2025, the Company issued 4,290,000 shares of common stock for the settlement of due to a related party of $1,716,000.

Issuer Purchases of Equity Securities

None.

ITEM 6. [RESERVED]

ITEM 7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The following discussion and analysis of financial condition and results of operations should be read in conjunction with our consolidated financial statements and related notes included elsewhere in this report. This discussion contains forward-looking statements that involve risks, uncertainties and assumptions. See “Note Regarding Forward-Looking Statements.” Our actual results could differ materially from those anticipated in the forward-looking statements as a result of certain factors discussed in “Risk Factors” and elsewhere in this report.

 13Table of Contents

Overview

In July 2022, we acquired RAC, a Wyoming-based corporation, which was a wholly owned subsidiary of the Company. Through RAC, the Company focuses on real estate transactions, particularly the acquisition, development, and sale or rental of low-income housing. Our investment approach is segmented into three primary areas:

 ·Acquiring, refurbishing, and selling traditional foreclosures; ·Purchasing, developing, and renting properties in "Land Banks," which typically comprise over 100 homes or lots in a single location; ·Acquiring, refurbishing, or developing homes available through HECM (Home Equity Conversion Mortgage) pools.

On March 27, 2023, RAC, a wholly owned subsidiary of the Company entered into a Limited Liability Company Agreement dated effective March 27, 2023, (the “Agreement”) with, Frank Gillen, an individual (“Mr. Gillen”) and Michael Colvard, an individual (“Mr. Colvard”). The purpose of the LLC is to build 3-bedroom 2-bathroom single-family low-income homes in Gadsden Alabama. On May 05, 2023, Mr. Colvard’s construction agreement with the LLC was