MYCB 10-K & 10-Q changes, risk factors and insider trading
My City Builders, Inc. · OTC · Real Estate · CIK 1556801 · All filings on SEC.gov
At a glance
What changed in the latest 10-K
Risk Factors
Removed heading “Subsequent to our completion of an acquisition, we may be required to take write-downs or write-offs, restructuring and impairment or other charges that could have a significant negative effect on our financial condition, results of operations and our stock price, which could cause you to lose some or all of your investment.”
Largest changes
“Subsequent to our completion of an acquisition, we may be required to take write-downs or write-offs, restructuring and impairment or other charges that could have a significant negative effect on our financial condition, results of operations and our stock price, which could cause you to lose some or all of your investment.”see in full comparison
“We did not have the financial resources to conduct extensive due diligence in our acquisition of RAC, material issues may be present inside RAC that we did not uncover or factors outside of RAC’s business and outside of our control may arise. As a result of these factors, we may be forced to write-down or write-off assets, restructure our operations, or incur impairment or other charges that could result in our reporting losses or losses significantly in excess of those we may anticipate based on the financial statement of RAC. …”see in full comparison
Our financial statements include a going-concern paragraph. The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates the realization of assets and the liquidation of liabilities in the normal course of business. During the year ended July 31,see in full comparison2024,2025, the Company incurred a netincomeloss of$25,752.$498,315. As of July 31,2024,2025, the Company had an accumulated deficit of$2,019,954 and$4,893,332and has nominal revenues since inception and only recently engaged in an active business. In order to continue as a going concern, the Company will need, among other things, additional capital resources. Management’s plans to raise necessary funding through equity financing arrangements, which may be insufficient to fund its capital expenditures, working capital and other cash requirements for the year ended July 31,2024.2025. However, until the Company engages in an active business or makes an acquisition the Company is likely to not be able to raise any significant debt or equity financing.
At July 31,see in full comparison2024,2025, we have cash of$20,245$2,189 and a working capital deficiency of$64,205,$4,469, and, because our only current source of revenue is interest income from two promissory notes the Company acquired in connection with our business plan. If we are unable to obtain funding for these activities we may be unable to complete an acquisition or file ourdelinquentSEC quarterly reports. If we are unable to implement our business plan because we do not have sufficient funds available to us, we will be forced to cease operations. Any financing which we may be able to obtain is likely to be on very unfavorable terms and, if equity is issued, may result in significant dilution to our stockholders.
Full comparison: every changed paragraph (4)
At July 31, 2024,2025, we have cash of $20,245$2,189 and a working capital deficiency of $64,205,$4,469, and, because our only current source of revenue is interest income from two promissory notes the Company acquired in connection with our business plan. If we are unable to obtain funding for these activities we may be unable to complete an acquisition or file our delinquent SEC quarterly reports. If we are unable to implement our business plan because we do not have sufficient funds available to us, we will be forced to cease operations. Any financing which we may be able to obtain is likely to be on very unfavorable terms and, if equity is issued, may result in significant dilution to our stockholders.
Subsequent to our completion of an acquisition, we may be required to take write-downs or write-offs, restructuring and impairment or other charges that could have a significant negative effect on our financial condition, results of operations and our stock price, which could cause you to lose some or all of your investment.
We did not have the financial resources to conduct extensive due diligence in our acquisition of RAC, material issues may be present inside RAC that we did not uncover or factors outside of RAC’s business and outside of our control may arise. As a result of these factors, we may be forced to write-down or write-off assets, restructure our operations, or incur impairment or other charges that could result in our reporting losses or losses significantly in excess of those we may anticipate based on the financial statement of RAC. Even if our due diligence successfully identified certain risks, unexpected risks may arise and previously known risks may materialize in a manner not consistent with our preliminary risk analysis. Even though these charges may be non-cash items, the fact that we report charges of this nature could contribute to negative market perceptions about us or our securities. In addition, charges of this nature may cause us to violate net worth or other covenants to which we may be subject under pre-existing of RAC or by virtue of our obtaining post-acquisition debt financing.
Our financial statements include a going-concern paragraph. The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates the realization of assets and the liquidation of liabilities in the normal course of business. During the year ended July 31, 2024,2025, the Company incurred a net incomeloss of $25,752.$498,315. As of July 31, 2024,2025, the Company had an accumulated deficit of $2,019,954 and$4,893,332and has nominal revenues since inception and only recently engaged in an active business. In order to continue as a going concern, the Company will need, among other things, additional capital resources. Management’s plans to raise necessary funding through equity financing arrangements, which may be insufficient to fund its capital expenditures, working capital and other cash requirements for the year ended July 31, 2024.2025. However, until the Company engages in an active business or makes an acquisition the Company is likely to not be able to raise any significant debt or equity financing.
Management's Discussion & Analysis (MD&A)
New heading “Continued Operations”
New heading “Discontinued Operations”
New heading “Consolidated Cash Flow”
New heading “Cash Flow from Continued Operations”
New heading “Cash Flow from Discontinued Operations”
Removed heading “Revenue Recognition”
Removed heading “Revenue -rental income”
Largest changes
“On October 4, 2022, the Company, through RAC, entered into a Limited Liability Company Agreement with Fix Pads Holdings, LLC ("Fix Pads"). As a result of the agreement, RAC and Fix Pads formed a limited liability company called RAC FIXPADS II, LLC (“LLC”), incorporated in the state of Delaware. The LLC has two members, RAC and Fix Pads, both providing an initial contribution to the LLC of $1,000 in exchange for a 50% membership interest represented by an issuance of 1,000 Units of the LLC to each party. Each member is entitled to one vote per member. The LLC is managed by a manager, Fix Pads. …”see in full comparison
Full comparison: every changed paragraph (38)
In July 2022, we acquired RAC, a Wyoming-based corporation, which is nowwas 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:
On April 25th,25, 2024, RAC finalized the purchase of two additional lots in Gadsden, Alabama bringing the total properties owned in East Gadsden to twenty-two. This decision stemmed from the ongoing construction of three homes by RAC on the same street, slated for completion and rental availability by July 31st, 2024. With the aim of bolstering rental demand, RAC intends to commence construction on these newly acquired lots this calendar year by December 31st, 2024. The homes are 3-bedroom 2-bathroom single family homes with under roof of 1270 square feet. The plan for Gadsden Alabama is to build new low-income single-family homes for rent.
On October 18, 2024, RAC finalized the purchase of one home in Laurel Mississippi in amount of $8,021. The Company plans to renovate the home and to sell it.
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 the acquisition agreement, the Company’s ownership of property was increased to 100%.
On February 27, 2025, the Company acquired a second piece of land in Gadsden, Alabama for construction of new residential homes for cost of $77,115. This land acquisition is next to the land purchased by the Company on July 31, 2024, and the plan is to build up to thirty single family Garden Homes as a “Phase Two” construction project once the seven to eight duplex apartments has been completed on the initial parcel of land purchased in July of 2024.
During the year ended July 31,2025, the Company sold one home On July 8, 2025, the Company and RAC Merger LLC (“RAC Merger”) entered into a share purchase agreement in order to 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, which equals 1.5% of the total purchase amount.
As of July 31st,8, 2024,2025, RAC hashad thirteen (13) completed eighthomes ofwith theone elevenadditional homeshome under construction in East GadsdenGadsden. and has eightOut of the eleventhirteen (13) completed properties one (1) home has been sold and five (5) are currently on the market for sell with seven (7) homes leased with monthly lease payments ofranging $1,250,from $1,100 to $2,150, each for a period of one year for each home leased.
Pursuant to the share purchase agreement dated July 8, 2025, the Company recognized discontinued operations regarding disposal of two entities of RAC Real Estate Acquisition Corp. and RAC Gadsden LLC. As result of discontinued operations, the Company recognized loss from discontinued operations of $162,513 and loss on disposal of two entities of $230,730.
Continued Operations
For the years ended July 31, 2024, and 2023,2025, we generateddid not generate revenue from interestoperations income of $0 and $49,187 and revenue from rent income of $59,300 and $0, respectively.activities.
We had a net loss of $105,072 and $ 159,404 for the years ended July 31, 2025, and 2024, respectively. The decrease in net loss of $54,332 was primarily attributed to a reduction in operating expenses of $55,460, offset by an increase in income tax of $1.128.
Operating expenses for the years ended July 31, 2025, and 2024 were $103,944 and $159,404, respectively. For the years ended July 31, 2025, and 2024, the operating expenses were primarily attributed to professional fees of $100,084 and $159,028, general and administrative expenses of $3,860 and $376, respectively.
Discontinued Operations
For the years ended July 31, 2025, and 2024, we generated revenue from rent income of $ 121,624 and $59,300 and sales of inventory homes of $269,930 and $0, respectively.
We had a net loss of $393,243 for the year ended July 31, 2025, and net income of $185,156 for the year ended July 31, 2024. The increase in net loss of $578,401 was primarily attributed to an increase in operating expenses of $290,861, other expenses of $389,064, loss on sales of subsidiaries of $230,730, offset by an increase in revenue of $332,254.
We had a net income of $25,752 for the year ended July 31, 2024, and net loss of $2,022,635 for the year ended July 31, 2023. The decrease in net loss of $2,048,387 were primarily attributed to a reduction in other expenses of $2,173,482, offset by an increase in operating expenses of $135,208 and revenue of $10,113 Operating expenses for the years ended July 32,31, 2024,2025, and 20232024 were $337,670$469,125 and $202,462,$178,266, respectively. For the years ended July 31, 2024,2025, and 2023,2024, the operating expenses were primarily attributed to cost of selling inventory homes of $ 294,136 and $0, professional fees of $235,940$26,051 and $177,931,$76,912, general and administrative expenses of $55,774$53,626 and $24,531,$55,398, depreciation expenses of $31,985$64,181 and $0,$31,985, cost of rental homes of $13,971$31,131 and $0,$13,971, respectively. The cost of rental homes was for rented homes such as lawncare, maintenance and repairs, management fees, utilities, insurance and property taxes.
Other income and expenses for the years ended July 31, 2024,2025, and 2023,2024, represent impairment loss on investment of $947,500$0 and $1,732,000,$947,500, interest expenses – related party of $27,795$ 2,351 and $137,360$27,795 for granted loans andloans, interest expenses of $19,279$ 100,891 and $0$19,279 for bank borrowing and third-party loan, bad debts expenses related to rental tenant of $4,195 and $0 and nonmonetary gain of $1,298,696$0 and $0$1,298,696 respectively.
On October 4, 2022, the Company, through RAC, entered into a Limited Liability Company Agreement with Fix Pads Holdings, LLC ("Fix Pads"). As a result of the agreement, RAC and Fix Pads formed a limited liability company called RAC FIXPADS II, LLC (“LLC”), incorporated in the state of Delaware. The LLC has two members, RAC and Fix Pads, both providing an initial contribution to the LLC of $1,000 in exchange for a 50% membership interest represented by an issuance of 1,000 Units of the LLC to each party. Each member is entitled to one vote per member. The LLC is managed by a manager, Fix Pads. The agreement provides that additional capital contributions of the members will be made to the LLC as follows: (i) Fix Pads will transfer and assign all rights to and incidents of ownership for up to 60 residential properties it has title, or will have title, to the LLC, as set forth in the agreement; and (ii) RAC will make additional cash contributions to the capital of the LLC, up to a maximum of $5,214,000, on such dates and in such amounts as requested by the LLC, in the manner set forth in the agreement. From the sale of each property by LLC, the Company shall receive $13,000 and the average additional cash capital contribution per property. During the year ended July 31,2024, the Company recognized impairment loss of $947,500.
As of July 31, 2024,2025, our current assets were $1,635,857$42,812 and our current liabilities were $1,571,652$38,343 which resulted in working capital of $64,205.$4,469. As of July 31, 2024,2025, current assets were comprised of $20,245$2,189 in cash, $2,607$ in accounts receivable, $1,613,005 in homes inventory for sales, compared to $151,718 in cash, $34,8585,000 in prepaid expenses, $228,750$35,623 in loandue receivablefrom related party compared to $2,550 in cash and $3,116$1,633,307 in accruedcurrent interestassets incomeassociated with discontinued operations (see below table) as of July 31,2023.31,2024.
As of July 31, 2024,2025, current liabilities were comprised of $79,563$2,720 in accounts payablepayable, and accrued liabilities, $1,106,000$35,623 in duedividends to related parties, $25,000 loan payable-current portion,$28,500 loans payable -related party and $332,589 bank borrowing-current portionpayable, compared to $237,888$17,126 in accounts payablepayable, and accrued liabilities and $3,726,222$46,522 in due to related parties and $1,508,004 in current liabilities associated with discontinued operations (see blow table) as of July 31, 2023.31,2024.
Consolidated Cash Flow
Cash Flow from Continued Operations
Cash Flow from Discontinued Operations
We have not generated positive cash flows from operating activities. For the year ended July 31, 2025, net cash flows used in operating activities was $504,584, consisting of a net loss of $498,315, reduced by depreciation expenses of $61,181, amortization of debt discount of $9,541,bad debts-rental tenant of $4,195,loss on disposition of subsidiaries of $230,730, rent deposit payable of $1,000 , dividends payable of $35,623 and increased by gain on sales of property of $17,793, prepaid expenses of $10,743, accounts receivable of $12,221, accounts payable and accrued liabilities of $43,232, homes inventory cost for sales of $233,357 and due from related party of $35,623.
For the year ended July 31, 2023, net cash flows used in operating activities was $257,338, consisting of a net loss of $2,022,635, reduced by impairment loss on investment of $1,732,000, accounts payable and accrued liabilities of $39,309, due to related parties of $38,710 and increased by prepaid expenses of $34,858, deferred interest income of $6,748, accrued interest income of $3,116.
For the year ended July 31, 2025, the Company used $461,680 for construction payments, $89,867 for purchase of one RV travel trailer and one land in Gadsden and received $169,871 from sales of one home.
For the year ended July 31, 2023, the Company received cash from collection of loan receivable of $287,220, collection of loan receivable for third party investor of $185,504 and used investment of $2,679,500, advance on loan receivable of $179,310 and payment for construction of $884,276.
For the year ended July 31, 2024,2025, the Company received bankadvances borrowingfrom a related party of $569,603,$1,302,700, advancesbank fromborrowings of $696,344 and repaid loans payable -related party of $28,500, bank borrowings of $517,500 and repaid due to related parties of $1,108,700 and repaid $395,811 to related parties.$575,200.
For the year ended July 31, 2023,2024, the Company received bank borrowing of $569,603, advances from related parties of $5,052,300$1,108,700 and repaid $1,373,600due to related parties.parties of $395,811.
The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates the realization of assets and the liquidation of liabilities in the normal course of business. During the year ended July 31, 2024,2025, the Company incurred a net gainloss of $25,752.$498,315. As of July 31, 2024,2025, the Company had an accumulated deficit of $2,019,954.$4,893,332. In order to continue as a going concern, the Company will need, among other things, additional capital resources. Management’s plans to raise necessary funding through equity financing arrangements, which may be insufficient to fund its capital expenditures, working capital and other cash requirements for the year ended July 31, 2024.2025. However, until the Company engages in an active business or makes an acquisition the Company is likely not to be able to raise any significant debt or equity financing.
Revenue Recognition
The Company recognizes revenue in accordance with Topic 606, which requires the Company to recognize revenues when control of the promised goods or services is transferred to customers at an amount that reflects the consideration to which the Company expects to be entitled to in exchange for those goods or services. The Company recognizes revenue based on the five criteria for revenue recognition established under Topic 606:
Rental income
The Company generated rental income from operating leases, which is accounted for under ASC 842. Operating lease revenue is generally recognized on straight-line basis over the terms of the lease agreements.
Concentration
As pf July 31, 2024, and 2023 and for the years ended July 31, 2024, and 2023, customer concentrations (more than 10%) were as follows:
Revenue -rental income
The rental properties are managed by a management company during the year ended July 31, 2024, therefore 100% of accounts receivable is related to one customer at July 31, 2024.
What changed in the latest 10-Q
Risk Factors
As a “smaller reporting company,” we are not required to provide the information required by this Item. There have been no material changes from the risk factors previously disclosed in the Company’s Annual Report on Form 10-K for the fiscal year ended July 31, 2025.
No wording changes found in this section.
Full comparison: every changed paragraph (0)
Management's Discussion & Analysis (MD&A)
Largest changes
see in full comparisonSixNine Months EndedJanuaryApril31,01, 2026, compared to theSixNine Months endedJanuaryApril31,202530,2025
We have not generated positive cash flows from operating activities. For thesee in full comparisonsixnine months endedJanuaryApril31,30, 2026, net cash used in operating activities was$39,767.$56,111,This consisted primarilyconsisting of a net loss of$94,244$117,509,partially offsetreduced bychangesprepaidinexpensesworkingofcapital, including increases in$3,290, accounts payable and accrued liabilities of$15,187$23,818, due from related party receivable of $1,160 and due to relatedpartiesparty payable of$34,290.$33,130.
For thesee in full comparisonsixnine months endedJanuaryApril31,30, 2025, net cash flows used in operating activities was$415,348,$644,036, consisting of a net loss of$152,784,$215,051, reduced by depreciation expenses of$32,366,$50,317, amortization of debt discount of$1,489,$9,257,accountsrentreceivabledeposit payable of$1.483$1,000 and increased by accounts payable and accrued liabilities of$12,821,$42,655, prepaid expenses of$22,719$21,593, accounts receivable of $1,756 and homes inventory cost for sales of$262,362.$423,555.
We had a net loss from discontinued operations ofsee in full comparison$74,397$117,130 for thesixnine months endedJanuaryApril31,30, 2025. Discontinued operating expenses for thesixnine months endedJanuaryApril31,30, 2025, were$79,973.$127,876. For thesixnine months endedJanuaryApril31,30, 2025, the discontinued operating expenses were primarily attributed to cost of rental homes of$12,849,$24,949, depreciation expenses of$32,366,$50,317, professional fees of$13,520$17,836 and general and administrative expenses of$21,238.$34,774.
We had a net loss from continuing operations ofsee in full comparison$62,107$23,265 for the three months endedJanuaryApril31,30, 2026, and$40,570$19,534 for the three months endedJanuaryApril31,30, 2025. The increase in net loss of$21,537$3,731 was due to an increase inoperating expenses of $14,168,other expenses of$8,497$8,220, offset by a decrease inincomeoperatingtaxexpenses of$1,128.$4,489.
We had a net loss from discontinued operations ofsee in full comparison$37,729$42,733 for the three months endedJanuaryApril31,30, 2025. Discontinued operating expenses for the three months endedJanuaryApril31,30, 2025, were$37,698.$47,903. For the three months endedJanuaryApril31,30, 2025, the discontinued operating expenses were primarily attributed to cost of rental homes of$6,256,$12,100, depreciation expenses of$17,415$17,951, professional fees of $4,316 and general and administrative expenses of$14,027.$13,536.
Full comparison: every changed paragraph (34)
During the sixnine months ended JanuaryApril 31,30, 2026, the Company continued to pursue its operating strategy of acquiring, developing, and preparing real estate for future construction of multifamily housing. As disclosed above (Asset Acquisition), the Company acquired four acres of land in Glencoe, Alabama, valued at $350,000, for the purpose of developing up to 25 multifamily housing units across multiple phases, beginning with an 8-unit duplex development in Phase I. This property represents the Company’s primary operating asset and is integral to its long-term revenue strategy.
These operating activities generated $94,244$100,792 of operating expenses during the sixnine months ended JanuaryApril 31,2026,30,2026, a level of activity that reflects the Company’s current stage of development operations rather than dormant or nominal activity.
The Company continues to have limited cash resources and a working capital deficit, and it does not currently generate revenues from operations. Management estimates that the Company will require approximately $125,000 over the next twelve months for legal, accounting, audit, and general corporate expenses. As of JanuaryApril 31,30, 2026, the Company had a working capital deficit of approximately $7,275.$30,540. The Company’s ability to meet its obligations as they become due is dependent upon raising additional capital or obtaining financing.
92,
During the prior fiscal year, the Company completed the sale of its former operating subsidiary, which had historically generated substantially all revenues and held the majority of the Company’s operating assets. As a result, the Company has no revenues from continuing operations for the sixnine months ended JanuaryApril 31,30, 2026, and its operating results differ materially from prior-period presentations.
The following summary of our results of operations should be read in conjunction with our unaudited condensed financial statements for the period ended JanuaryApril 31,30, 2026, which are included herein.
Our operating results for the sixnine months ended JanuaryApril 31,30, 2026, and 2025, and the changes between those periods for the respective items are summarized as follows:
Three Months Ended JanuaryApril 31,30, 2026, compared to the Three Months ended JanuaryApril 31,202530,2025
During the three months ended JanuaryApril 31,30, 2026, and 2025, we did not generate revenue from continuing operations activities.
We had a net loss from continuing operations of $62,107$23,265 for the three months ended JanuaryApril 31,30, 2026, and $40,570$19,534 for the three months ended JanuaryApril 31,30, 2025. The increase in net loss of $21,537$3,731 was due to an increase in operating expenses of $14,168, other expenses of $8,497$8,220, offset by a decrease in incomeoperating taxexpenses of $1,128.$4,489.
Continuing operating expenses for the three months ended JanuaryApril 31,30, 2026, and 2025 were $53,610$15,045 and $39,442,$19,534, respectively. For the three months ended JanuaryApril 31,30, 2026, and 2025, the operating expenses were primarily attributed to professional fees of $52,149$14,892 and $38,854$17,943 and general and administrative expenses of $1,461$153 and $588,$1,591, respectively.
Continuing other expenses for the three months ended JanuaryApril 31,30, 2026, and 2025 were $8,497$8,220 and $0, respectively. The other expenses were primarily attributed to interest related to related party promissory note payable of $350,000 with three years term and carries an interest rate of 9.5% per annum.
For the three months ended JanuaryApril 31,30, 2025, we generated discontinued revenue from rent income of $ 29,743.34,961.
We had a net loss from discontinued operations of $37,729$42,733 for the three months ended JanuaryApril 31,30, 2025. Discontinued operating expenses for the three months ended JanuaryApril 31,30, 2025, were $37,698.$47,903. For the three months ended JanuaryApril 31,30, 2025, the discontinued operating expenses were primarily attributed to cost of rental homes of $6,256,$12,100, depreciation expenses of $17,415$17,951, professional fees of $4,316 and general and administrative expenses of $14,027.$13,536.
Discontinued other expenses for the three months ended JanuaryApril 31,30, 2025, represent interest expenses of $29,774$29,791 for banks borrowing and third-party loan,
SixNine Months Ended JanuaryApril 31,01, 2026, compared to the SixNine Months ended JanuaryApril 31,202530,2025
During the sixnine months ended JanuaryApril 31,30, 2026, and 2025, we did not generate revenue from continuing operations activities.
We had a net loss from continuing operations of $94,244$117,509 for the sixnine months ended JanuaryApril 31,30, 2026, and $78,387$97,921 for the sixnine months ended JanuaryApril 31,30, 2025. The increase in net loss of $15,857$19,588 was due to an increase in operating expenses of $8,488,$3,999, other expenses of $8,497$16,717 offset by a decrease in income tax of $1,128.
Continuing operating expenses for the sixnine months ended JanuaryApril 31,30, 2026, and 2025 were $85,747$100,792 and $77,259,$96,793, respectively. For the sixnine months ended JanuaryApril 31,30, 2026, and 2025, the operating expenses were primarily attributed to professional fees of $82,696$97,588 and $76,581$94,524 and general and administrative expenses of $3,051$3,204 and $678,$2,269, respectively.
Continuing other expenses for the sixnine months ended JanuaryApril 31,30, 2026, and 2025 were $8,497$16,717 and $0, respectively. The other expenses were primarily attributed to interest related to related party promissory note payable of $350,000 with three years term and carries an interest rate of 9.5% per annum.
Income tax for nine months ended April 30, 2025, is related to payment income tax of $1,128 for year ended July 31, 2024.
For the sixnine months ended JanuaryApril 31,30, 2025, we generated discontinued revenue from rent income of $ 55,271.90,232.
We had a net loss from discontinued operations of $74,397$117,130 for the sixnine months ended JanuaryApril 31,30, 2025. Discontinued operating expenses for the sixnine months ended JanuaryApril 31,30, 2025, were $79,973.$127,876. For the sixnine months ended JanuaryApril 31,30, 2025, the discontinued operating expenses were primarily attributed to cost of rental homes of $12,849,$24,949, depreciation expenses of $32,366,$50,317, professional fees of $13,520$17,836 and general and administrative expenses of $21,238.$34,774.
Discontinued other expenses for the sixnine months ended JanuaryApril 31,30, 2025, represent interest expenses of $49,695$79,486 for banks borrowing and third-party loan,
As of JanuaryApril 31,30, 2026, our current assets were $49,286$39,094 and our current liabilities were $56,561$69,634 which resulted in working capital deficiency of $7,275.$30,540. As of JanuaryApril 31,30, 2026, current assets were comprised of $14,823$2,921 in cashcash, $1,710 in prepaid expenses and $34,463 in due from related party, compared to $2,189 in cash, $5,000 in prepaid expenses and $35,623 in due from related party as of July 31, 2025.
As of JanuaryApril 31,30, 2026, current liabilities were comprised of $17,907$26,538 in accounts payable and accrued liabilities, $25,764$22,890 in dividends payable and $12,890$20,206 in due to related party, compared to $2,720 in accounts payable,payable and $35,623 in dividends payable, as of July 31, 2025.
We have not generated positive cash flows from operating activities. For the sixnine months ended JanuaryApril 31,30, 2026, net cash used in operating activities was $39,767.$56,111, This consisted primarilyconsisting of a net loss of $94,244$117,509, partially offsetreduced by changesprepaid inexpenses workingof capital, including increases in$3,290, accounts payable and accrued liabilities of $15,187$23,818, due from related party receivable of $1,160 and due to related partiesparty payable of $34,290.$33,130.
For the sixnine months ended JanuaryApril 31,30, 2025, net cash flows used in operating activities was $415,348,$644,036, consisting of a net loss of $152,784,$215,051, reduced by depreciation expenses of $32,366,$50,317, amortization of debt discount of $1,489,$9,257, accountsrent receivabledeposit payable of $1.483$1,000 and increased by accounts payable and accrued liabilities of $12,821,$42,655, prepaid expenses of $22,719$21,593, accounts receivable of $1,756 and homes inventory cost for sales of $262,362.$423,555.
During the sixnine months ended JanuaryApril 31,30, 2026, and 2025, the Company used $0 and $267,015$446,403 forin paymentsinvesting of construction expenses,activities, respectively.
During nine months ended April 30,2025, the Company used $356,535 for payment of construction expenses and $89,868 for acquisition of one TV travel trailer and one land in Gadsden.
During the sixnine months ended JanuaryApril 31,202630, 2026, and 2025, the Company provided $52,401$56,843 and $679,467$1,086,007 by financing activities, respectively.
During the sixnine months ended JanuaryApril 31,30, 2026, the Company received $82,500 from issuance of common stock, $10,000$20,000 advance from a related party and repaid due to related party of $30,240 and dividend of $9.859.$15,417.
During the sixnine months ended JanuaryApril 31,30, 2025, the Company received advance from a related party of $835,000,$1,249,200, bank borrowings of $102,534$575,690 and repaid loan payable -related party of $28,500, due to related parties of $225,000$340,700 and bank borrowings of $4,567.$369.683.
Our condensed financial statements have been prepared assuming that we will continue as a going concern, which contemplates the realization of assets and the liquidation of liabilities in the normal course of business. These conditions are also described in Note 3 to the condensed financial statements. During the sixnine months ended JanuaryApril 31,30, 2026, we incurred net loss of $94,244$117,130 and net cash used in operating activities of $39,767.$56,111. As of JanuaryApril 31,30, 2026, we had an accumulated deficit of $4,987,576 and$5,010,841and working capital deficiency of $7,275.$30,540. In order to continue as a going concern, the Company will need, among other things, additional capital resources. Management plans to raise necessary funding through equity and debt financing arrangements, which may be insufficient to fund its capital expenditure, working capital and other cash requirements. The ability of the Company is dependent upon, among other things, obtaining financing to continue operations and continue developing the business plan. The Company cannot give any assurance as to the ability to develop or operate profitably. These factors, among others, raise substantial doubt about the Company’s ability to continue as a going concern. The accompanying consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.
MYCB insider buying and selling (Form 4)
Since 2026-04-11, insiders reported open-market purchases in 0 Form 4 filings and open-market sales in 0 filings. Totals add up every open-market (code P and S) line in those filings, using the prices reported in the filings. Awards, option exercises, tax withholding and gifts are listed below but not counted.
No Form 4 stock transactions in this period.
Well-known investors holding MYCB (13F)
None of the 59 investors we track reported a position in their latest 13F.