Company: MYCB
Filing Date: 2025-03-17
Form Type: 10-Q
Source: 0001640334-25-000414
Chunk: 23

Company: My City Builders, Inc.
Filing Date: 2025-03-17
Form: 10-Q
Item: Part II, Item 8
Chunk 23
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 year ended July 31, 2024. 

Six Months Ended January 31, 2025, compared to the Six Months ended January 31,2024

  Six Months Ended      January 31,      2025  2024  Change Revenue $55,271  $19,768  $(35,503)Operating expenses  157,232   149,449   7,783 Other expenses   49,695   963,362   (913,667)Income tax   1,128   -   1,128 Net loss  $152,784  $1,093,043  $(940,259)

For the six months ended January 31, 2025, and 2024, we generated revenue from rent income of $55,271 and $19,768, respectively.

We had a net loss of $152,784 for the six months ended January 31, 2025, and $1,093,043 for the six months ended January 31, 2024. The decrease in net loss of $940,259 was due to an increase in operating expenses of $7,783 and a decrease in other expenses of $913,667 offset by an increase in revenue of $35,503.

Operating expenses for the six months ended January 31, 2025, and 2024 were $157,232 and $149,449, respectively. For the six months ended January 31, 2025, and 2024, the operating expenses were primarily attributed to professional fees of $90,101 and $117,754, general and administrative expenses of $21,916 and $14,355, depreciation expenses of $32,366 and $12,270, and cost of rental homes of $12,849 and $5,070 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 six months ended January 31, 2025, and 2024, represent interest expenses -related party of $0 and $12,073 for granted loans, interest expenses of $49,695 and $3,789 for banks borrowings and loan payable to third party and impairment loss on investment of $0 and $947,500, respectively.

Income tax for six months ended January 31,