Company: MYCB
Filing Date: 2025-09-25
Form Type: 10-Q
Source: 0001640334-25-001709
Chunk: 31

Company: My City Builders, Inc.
Filing Date: 2025-09-25
Form: 10-Q
Item: Part I, Item 1
Chunk 31
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 sell 100% issued and outstanding shares of RAC Real Estate Acquisition Corp., to RAC Merger for a total purchase amount of $2,374,896. At the time of the transaction, RAC Merger owned 98.5% of the total issued and outstanding shares of the Company. Therefore, in lieu of any cash distribution to RAC Merger as a shareholder of the Company, RAC Merger agreed that its 98.5% interest in the total purchase amount as a shareholder of the Company was satisfied by the assignment of the 100% issued and outstanding shares of RAC Real Estate Acquisition Corp. The remaining shareholders of the Company, which comprised 1.5% of the Company’s issued and outstanding shares as of the date of the transaction, received a cash distribution in the total amount of $35,623.44, which equals 1.5% of the total purchase amount.

As of April 30, 2025, and July 31, 2024, all property homes were collateralized with an outstanding balance of $1,290,272 and $1,067,981, respectively. 

 During the months May-August 2025, the Company sold three (3) homes from homes inventory for an aggregate amount of $413,000 and one (1) home from homes property for amount of $191.000.  

Results of Operations

The following summary of our results of operations should be read in conjunction with our unaudited consolidated financial statements for the nine months ended April 30, 2025, and 2024, which are included herein.

Our operating results for the nine months ended April 30, 2025, and 2024, and the changes between those periods for the respective items are summarized as follows:

Three Months Ended April 30, 2025, compared to the Three Months ended April 30,2024

  Three Months Ended      April 30,      2025  2024  Change Revenue $34,961  $15,877  $(19,084)Operating expenses  67,437   80,735   (13,298)Other expenses   29,791   16,510   13,281 Net loss  $62,267  $81,368  $(19,101)

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For the three months ended April 30,