Form 10-Q - Quarterly report [Sections 13 or 15(d)]

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)
☒	QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

	For the quarterly period ended October 31, 2024

Or

☐	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

	For the transition period from ____________ to ________________

Commission file number: 000-55233

My City Builders, Inc.

(Exact name of registrant as specified in its charter)

Nevada

27-3816969

(State or other jurisdiction of

incorporation or organization)

(I.R.S. Employer

Identification No.)

100 Biscayne Blvd., #1611, Miami FL 33132

(Address of principal executive offices)

786-553-4006

(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act: None

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer	☐	Accelerated filer	☐
Non-accelerated Filer	☒	Smaller reporting company	☒
		Emerging growth company	☐

If an emerging growth company, indicate by a check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

As of December 9, 2024, there were 11,986,686 shares of the issuer’s common stock, par value $0.001 per share, outstanding.

TABLE OF CONTENTS

		Page No.
	Part I: Financial Information

Item 1.	Financial Statements	F-1
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	4
Item 3.	Quantitative and Qualitative Disclosures about Market Risk	9
Item 4.	Controls and Procedures	9

	Part II: Other Information

Item 1.	Legal Proceedings	10
Item 1A.	Risk Factors	10
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	10
Item 3.	Defaults Upon Senior Securities	10
Item 4.	Mine Safety Disclosures	10
Item 5.	Other Information	10
Item 6.	Exhibits	11

Table of Contents

FORWARD LOOKING STATEMENTS

This report contains forward-looking statements regarding our business, financial condition, results of operations and prospects. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements but are not deemed to represent an all-inclusive means of identifying forward-looking statements as denoted in this report. Additionally, statements concerning future matters are forward-looking statements.

Although forward-looking statements in this report reflect the good faith judgment of our management, such statements can only be based on facts and factors currently known by us. Consequently, forward-looking statements are inherently subject to risks and uncertainties and actual results and outcomes may differ materially from the results and outcomes discussed in or anticipated by the forward-looking statements. Factors that could cause or contribute to such differences in results and outcomes include, without limitation, those specifically addressed under the headings “Risks Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our annual report on Form 10-K for the year ended July 31, 2024, in “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in this Form 10-Q, and information contained in other reports that we file with the SEC. You are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this report.

We file reports with the SEC. The SEC maintains a website (www.sec.gov) that contains reports, proxy and information statements, and other information regarding issuers that file electronically with the SEC, including us.

We undertake no obligation to revise or update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this report, except as required by law. Readers are urged to carefully review and consider the various disclosures made throughout the entirety of this quarterly report, which are designed to advise interested parties of the risks and factors that may affect our business, financial condition, results of operations and prospects.

All references in this Form 10-Q to the “Company,” “My City Builders,” “we,” “us,” “our” and words of like import relate to My City Builders, Inc. and its wholly-owned subsidiary, RAC Real Estate Acquisition Corp., a Wyoming corporation, unless the context indicates otherwise.

Table of Contents

PART I – FINANCIAL INFORMATION

Item 1. Financial Statements

My City Builders, Inc.

Index to Unaudited Interim Condensed Consolidated Financial Statements

October 31, 2024

		Page

Condensed Consolidated Balance Sheets as of October 31, 2024 and July 31, 2024 (Unaudited)		F-2

Condensed Consolidated Statements of Operations for the three months ended October 31, 2024 and 2023 (Unaudited)		F-3

Condensed Consolidated Statements of Changes in Stockholders’ Equity (Deficit) for the three months ended October 31, 2024 and 2023 (Unaudited)		F-4

Condensed Consolidated Statements of Cash Flows for the three months ended October 31, 2024 and 2023 (Unaudited)		F-5

Notes to Unaudited Condensed Consolidated Financial Statements		F-6

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My City Builders, Inc.

Condensed Consolidated Balance Sheets

(Unaudited)

	October 31,			July 31,
	2024			2024
ASSETS
Current Assets
Cash	$	15,169		$	20,245
Accounts receivable		188			2,607
Homes inventory for sales		1,684,279			1,613,005
Total Current Assets		1,699,636			1,635,857

Property and equipment, net		1,971,676			1,833,192
TOTAL ASSETS	$	3,671,312		$	3,469,049

LIABILITIES AND STOCKHOLDES' EQUITY (DEFICIT)
Current Liabilities
Accounts payable and accrued liabilities	$	47,607		$	79,563
Loan Payable - current portion		25,000			25,000
Loans payable, related party		-			28,500
Due to related parties		1,345,000			1,106,000
Bank borrowings - current portion, net		431,072			332,589
Total Current Liabilities		1,848,679			1,571,652

Bank borrowings, net		710,438			710,717
Loan Payable		25,000			25,000
TOTAL LIABILITIES		2,584,117			2,307,369

Stockholders’' Equity
Preferred stock: 10,000,000 authorized; $0.001 par value		-			-
Series A preferred stock 100,000 designated; $0.001 par value
100,000 shares issued and outstanding		100			100
Common stock: 300,000,000 authorized; $0.001 par value
11,986,686 and 11,986,686 shares issued and outstanding at October 31, 2024 and July 31, 2024, respectively		11,987			11,987
Additional paid in capital		3,169,714			3,169,714
Accumulated deficit		(2,094,394	)		(2,019,954	)
Equity attributable to stockholders of My City Builders, Inc.		1,087,407			1,161,847
Deficit attributable to noncontrolling interests		(212	)		(167	)
Total Stockholders’' Equity		1,087,195			1,161,680
TOTAL LIABILITIES AND STOCKHOLDES' EQUITY	$	3,671,312		$	3,469,049

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

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My City Builders, Inc.

Condensed Consolidated Statements of Operations

(Unaudited)

	Three Months Ended
	October 31,
	2024			2023

Revenue
Rental income		25,528			6,169
Total revenue		25,528			6,169

Operating expenses
Cost of rental homes		6,593			2,219
Depreciation		14,951			5,928
General and administrative		7,301			9,805
Professional fees		51,247			57,536
Total operating expenses		80,092			75,488

Loss from operations		(54,564	)		(69,319	)

Other income and expense
Interest expense- related party		-			(9,258	)
Interest expense		(19,921	)		-
Total other expense		(19,921	)		(9,258	)

Loss before income taxes		(74,485	)		(78,577	)
Provision for income taxes		-			-
Net Loss	$	(74,485	)	$	(78,577	)
Less: Net loss attributable to noncontrolling interests		(45	)		(80	)
Net loss attributable to stockholders of My City Builders, Inc.		(74,440	)		(78,497	)

Basic and diluted loss per share of common stock	$	(0.01	)	$	(0.13	)
Basic weighted average number of common shares outstanding		11,986,686			586,686

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

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My City Builders, Inc.

Condensed Consolidated Statements of Changes in Stockholders’ Equity (Deficit)

(Unaudited)

For the Three Months ended October 31, 2024

	Series A Preferred Stock				Common Stock				Additional Paid in		Accumulated			Total Stockholders			Non - controlling			Total
	Shares		Amount		Shares		Amount		Capital		Deficit			Equity			interest			Equity

Balance - July 31, 2024		100,000	$	100		11,986,686	$	11,987	$	3,169,714	$	(2,019,954	)	$	1,161,847		$	(167	)	$	1,161,680

Net loss		-		-		-		-		-		(74,440	)		(74,440	)		(45	)		(74,485	)
Balance - October 31, 2024		100,000	$	100		11,986,686	$	11,987	$	3,169,714	$	(2,094,394	)	$	1,087,407		$	(212	)	$	1,087,195

For the Three Months ended October 31,2023

	Series A								Additional					Total			Non-
	Preferred Stock				Common Stock				Paid in		Accumulated			Stockholders’			controlling			Total
	Shares		Amount		Shares		Amount		Capital		Deficit			Deficit			interest			Deficit

Balance - July 31, 2023		100,000	$	100		586,686	$	587	$	331,114	$	(2,045,818	)	$	(1,714,017	)	$	(55	)	$	(1,714,072	)

Net loss		-		-		-		-		-		(78,497	)		(78,497	)		(80	)		(78,577	)
Balance - October 31, 2023		100,000	$	100		586,686	$	587	$	331,114	$	(2,124,315	)	$	(1,792,514	)	$	(135	)	$	(1,792,649	)

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

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My City Builders, Inc.

Condensed Consolidated Statements of Cash Flows

(Unaudited)

	Three Months Ended
	October 31,
	2024			2023

CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$	(74,485	)	$	(78,577	)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation		14,951			5,928
Amortization of debt discount		744			-
Changes in operating assets and liabilities:
Prepaid expenses		-			5,954
Accounts receivable		2,419			-
Accrued interest income		-			265
Accounts payable and accrued liabilities		(31,956	)		28,382
Homes inventory cost for sales		(71,274	)		-
Net cash used in operating activities		(159,601	)		(38,048	)

CASH FLOWS FROM INVESTING ACTIVITIES:
Payment for construction		(153,435	)		(94,960	)
Net cash used in investing activities		(153,435	)		(94,960	)

CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from bank borrowing		99,258			215,110
Repayment bank borrowing		(1,798	)		-
Repayment loans payable -related party		(28,500	)		-
Advances from related parties		239,000			90,000
Repayments to related parties		-			(103,400	)
Net cash provided by financing activities		307,960			201,710

Net change in cash		(5,076	)		68,702
Cash, beginning of period		20,245			151,718
Cash, end of period	$	15,169		$	220,420

Supplemental cash flow information
Cash paid for interest	$	25,290		$	9,258
Cash paid for taxes	$	-		$	-

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

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My City Builders, Inc.

Notes to Unaudited Condensed Consolidated Financial Statements

NOTE 1 - ORGANIZATION AND BUSINESS OPERATIONS

My City Builders, Inc. (the “Company” or “My City Builders”) is a Nevada corporation incorporated on October 26, 2010 under the name Oconn Industries Corp. The Company’s name was changed on March 11, 2014 from Oconn Industries Corp. to Diamante Minerals, Inc., and to iMine Corporation on March 20, 2018 and to My City Builders, Inc on January 31, 2023.

In July 2022, the Company acquired RAC Real Estate Acquisition Corp, a Wyoming Corporation ("RAC"). RAC is now a wholly owned subsidiary of the Company. The Company, through RAC, plans to focus on real estate transactions, in which the Company will buy and develop real estate for sale or rent of low-income housing. The Company plans to invest in three sectors of this market by (i) buying, refurbishing and selling traditional foreclosures, (ii) buying, developing and renting “Land Banks” that have an average pool of homes or lots in excess of 100 in one location and (iii) buying, refurbishing or developing and selling homes made available by the government through HECM 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 terminated and Mr. Colvard transferred his 1% and withdrew as a member and manager of the LLC.

As a result of the Agreement, RAC, formed a limited liability company called RAC Gadsden, LLC (“Gadsden”) incorporated in the state of Alabama. Gadsden will continue until terminated pursuant to the Agreement or as provided for under the laws of Alabama. RAC owns 98% of Gadsden and the purpose of Gadsden is to purchase, finance, collateralize, improve, rehabilitate, market, sell or lease property.

Share Exchange and Reorganization

On July 1, 2022, the Company entered into an Agreement and Plan of Reorganization dated June 30, 2022 with RAC, and the shareholders of RAC, namely Frank Gillen, Francis Pittilloni, and Yolanda Goodell (the “Shareholders”), whereby the Company issued to the Shareholders a combined 100,000 shares of Series A Preferred Stock, par value of $0.001 per share in consideration for a combined 1,000 shares of RAC common stock, par value $0.001, held by the Shareholders, which represents 100% of the issued and outstanding capital stock of RAC. As a result, RAC becomes a wholly owned subsidiary of the Company. Shareholders of RAC paid a combined capital contribution of $500,000 in cash as consideration for their combined 1,000 shares of RAC common stock.

Recapitalization

For financial accounting purposes, this transaction was treated as a reverse acquisition by RAC and resulted in a recapitalization with RAC being the accounting acquirer and the Company as the acquired company. The consummation of this reverse acquisition resulted in a change of control. Accordingly, the historical financial statements prior to the acquisition are those of the accounting acquirer, RAC, and have been prepared to give retroactive effect to the reverse acquisition completed on June 30, 2022 and represent the operations of RAC. The consolidated financial statements after the acquisition date, June 30, 2022, include the balance sheets of both companies at fair value, the historical results of RAC and the results of the Company from the acquisition date. All share and per share information in the accompanying consolidated financial statements and footnotes has been retroactively restated to reflect the recapitalization.

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NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Presentation of Interim Information

The accompanying unaudited interim consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“US GAAP”) for interim financial information and with Rule 8-03 of Regulation S-X promulgated by the Securities and Exchange Commission. Accordingly, the consolidated financial statements do not include all of the information and footnotes required by US GAAP for complete financial statements. Notes to the unaudited interim condensed consolidated financial statements that would substantially duplicate the disclosures contained in the audited consolidated financial statements for the year ended July 31, 2024, have been omitted. These consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the footnotes thereto for the fiscal year ended July 31, 2024, included within the Company’s Annual Report on Form 10-K.

In the opinion of management, all adjustments consisting of normal recurring entries necessary for a fair statement of the periods presented for: (a) the financial position; (b) the result of operations; and (c) cash flows, have been made in order to make the consolidated financial statements presented not misleading. The results of operations for such interim periods are not necessarily indicative of operations for a full year.

Principles of Consolidation

The consolidated financial statements include the accounts of My City Builders and its subsidiaries. Intercompany transactions and balances have been eliminated.

Use of Estimates

The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates. The Company’s periodic filings with the SEC include, where applicable, disclosures of estimates, assumptions, uncertainties and markets that could affect the financial statements and future operations of the Company.

Cash and Cash Equivalents

Cash and cash equivalents consist of cash and highly liquid investments with remaining maturities of less than ninety days at the date of purchase. We maintain cash and cash equivalent balances with financial institutions that exceed federally insured limits. We have not experienced any losses related to these balances, and we believe the credit risk to be minimal. The Company does not have any cash equivalents.

Fair Value Measurements

The Company measures the fair value of financial assets and liabilities based on US GAAP guidance which defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements.

FASB ASC 820, “Fair Value Measurements” defines fair value for certain financial and nonfinancial assets and liabilities that are recorded at fair value, establishes a framework for measuring fair value and expands disclosures about fair value measurements. It requires that an entity measure its financial instruments to base fair value on exit price, maximize the use of observable units and minimize the use of unobservable inputs to determine the exit price. It establishes a hierarchy which prioritizes the inputs to valuation techniques used to measure fair value. This hierarchy increases the consistency and comparability of fair value measurements and related disclosures by maximizing the use of observable inputs and minimizing the use of unobservable inputs by requiring that observable inputs be used when available. Observable inputs are inputs that reflect the assumptions market participants would use in pricing the assets or liabilities based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company’s own assumptions about the assumptions market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. The hierarchy prioritizes the inputs into three broad levels based on the reliability of the inputs as follows:

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	·	Level 1 - Inputs are quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. Valuation of these instruments does not require a high degree of judgment as the valuations are based on quoted prices in active markets that are readily and regularly available.

	·	Level 2 - Inputs other than quoted prices in active markets that are either directly or indirectly observable as of the measurement date, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

	·	Level 3 - Valuations based on inputs that are unobservable and not corroborated by market data. The fair value for such assets and liabilities is generally determined using pricing models, discounted cash flow methodologies, or similar techniques that incorporate the assumptions a market participant would use in pricing the asset or liability.

Financial instruments, including cash, accounts receivable, home inventory for sales, accounts payable and accrued liabilities, loan payable, bank borrowings and due to related parties, are carried at amortized cost. As of October 31, 2024, and July 31, 2024, the carrying amounts of financial instruments, approximated to their fair values due to the short-term maturity of these instruments.

Long term investment

The investments for which the Company has the ability to exercise significant influence are accounted for under the equity method. Under the equity method, the Company initially records its investment at cost. The difference between the cost of the equity investment and the amount of the underlying equity in the net assets of the equity investee is recognized as equity method goodwill or as an intangible asset as appropriate.

Real Estate Property

Real estate properties are stated at cost less accumulated depreciation. We capitalize all costs incurred to acquire, develop, construct, renovate and improve real estate property as part of major repair and maintenance programs, including interest and property taxes incurred during the construction period. We expense routine repair and maintenance costs as incurred. Depreciation is calculated using the straight-line over the estimated useful lives which are reviewed periodically and generally have the following ranges: Home for rent: 27 years. Construction in progress is not depreciated until ready for service. The amount of interest capitalized during the three months ended October 31, 2024, and 2023 are $4,890 and $0, respectively.

Impairment of Long-Lived Assets

Long-lived assets with finite lives, primarily investments, real estate inventories, property, and equipment, including real estate properties held for lease, and operating lease right-of-use assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If the estimated cash flows from the use of the asset and its eventual disposition are below the asset’s carrying value, then the asset is deemed to be impaired and written down to its fair value.

Lessor accounting – operating leases

We account for the revenue from our lease contracts by utilizing the single component accounting policy. This policy requires us to account for, by class of underlying asset, the lease component and non-lease component(s) associated with each lease as a single component if two criteria are met:

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	(i)	the timing and pattern of transfer of the lease component and the non-lease component(s) are the same; and
	(ii)	the lease component would be classified as an operating lease if it were accounted for separately.

Lease components consist primarily of fixed rental payments, which represent scheduled rental amounts due under our leases. Non-lease components consist primarily of tenant recoveries representing reimbursements of rental operating expenses, including recoveries for utilities, repairs and maintenance and common area expenses.

If the lease component is the predominant component, we account for all revenues under such lease as a single component in accordance with the lease accounting standard. Conversely, if the non-lease component is the predominant component, all revenues under such lease are accounted for in accordance with the revenue recognition accounting standard. Our operating leases qualify for the single component accounting, and the lease component in each of our leases is predominant. Therefore, we account for all revenues from our operating leases under the lease accounting standard and classify these revenues as rental income.

We commence recognition of rental income related to the operating leases at the date the property is ready for its intended use by the tenant and the tenant takes possession or controls the physical use of the leased asset. Income from rentals related to fixed rental payments under operating leases is recognized on a straight-line basis over the respective operating lease terms. Amounts received currently but recognized as revenue in future periods are classified in other liabilities in our consolidated balance sheets.

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:

	(i)	Identify the contract, or contracts, with a tenant;
	(ii)	Identify the performance obligations in the rental contract;
	(iii)	Determine the transaction price;
	(iv)	Allocate the transaction price to the performance obligations in the contract;
	(v)	Recognize revenue when the Company satisfies a performance obligation.

Interest income

The Company records interest income on an accrual basis and recognizes it as earned in accordance with the contractual terms of the loan agreement and underlying debt instrument, to the extent that such amounts are expected to be collected. Debt investments are placed on non-accrual status when it is probable that principal, interest or fees will not be collected according to contractual terms. When a debt investment is placed on non-accrual status, the Company ceases to recognize interest and fee income until the portfolio company has paid all principal and interest due or demonstrated the ability to repay its current and future contractual obligations to the Company. The Company may not apply the non-accrual status to a loan where the investment has sufficient collateral value to collect all of the contractual amount due and is in the process of collection. Interest collected on non-accrual investments are generally applied to the principal.

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.

Cost of rental homes

The cost of rental homes are expenses directly related to rental homes, such as lawncare, maintenance and repairs, management fees, utilities, insurance, and property taxes.

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General and administrative expenses

General and administrative expenses primarily consist of office expenses, travel, meals and entertainment and insurance.

Income Taxes

The Company provides income taxes under ASC 740, Accounting for Income Taxes. ASC 740 requires the use of an asset and liability approach in accounting for income taxes. Deferred tax assets and liabilities are recorded based on the differences between the financial statement and tax bases of assets and liabilities and the tax rates in effect when these differences are expected to reverse.

ASC 740 requires the reduction of deferred tax assets by a valuation allowance if, based on the weight of available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. Deferred tax assets have been fully provided for by the Company as of October 31, 2024, and July 31, 2024, respectively.

The provisions of ASC 740-10-25, “Accounting for Uncertainty in Income Taxes,” prescribe a more-likely-than-not threshold for consolidated financial statement recognition and measurement of a tax position taken (or expected to be taken) in a tax return. This interpretation also provides guidance on the recognition of income tax assets and liabilities, classification of current and deferred income tax assets and liabilities, accounting for interest and penalties associated with tax positions, and related disclosures. The Company believes there were no uncertain tax positions as of October 31, 2024 and July 31, 2024, respectively.

Concentrations of Credit Risk

The Company’s financial instruments that are exposed to concentrations of credit risk primarily consist of its cash and related party payables it will likely incur in the near future. The Company places its cash with financial institutions of high credit worthiness. At times, its cash balance with a particular financial institution may exceed any applicable government insurance limits. The Company’s management plans to assess the financial strength and credit worthiness of any parties to which it extends funds, and as such, it believes that any associated credit risk exposures are limited.

Net Loss per Share of Common Stock

The Company calculates net loss per share in accordance with ASC Topic 260, “Earnings per Share.” Basic loss per share is computed by dividing the net loss by the weighted average number of common shares outstanding during the period. Diluted earnings per share of common stock are computed by dividing net earnings by the weighted average number of shares and potential shares outstanding during the period. Potential shares of common stock consist of shares to be issued taken into account the effect of dilutive instruments. As of October 31, 2024, and July 31, 2024, there were 100,000 shares of series A preferred stock, that were not included in the calculation of dilutive earnings per share as their effect would be anti-dilutive.

Related Parties and Transactions

The Company identifies related parties, and accounts for, discloses related party transactions in accordance with ASC Topic 850, “Related Party Disclosures” and other relevant ASC standards.

Parties, which can be an entity or individual, are considered to be related if they have the ability, directly or indirectly, to control the Company or exercise significant influence over the Company in making financial and operational decisions. Entities are also considered to be related if they are subject to common control or common significant influence.

Transactions involving related parties cannot be presumed to be carried out on an arm’s-length basis, as the requisite conditions of competitive, free market dealings may not exist. Representations about transactions with related parties, if made, shall not imply that the related party transactions were consummated on terms equivalent to those that prevail in arm’s-length transactions unless such representations can be substantiated.

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Segments

Operating segments are defined as components of an enterprise engaging in business activities for which discrete financial information is available and regularly reviewed by the chief operating decision maker in deciding how to allocate resources and in assessing performance. The Company operates and manages its business as one operating segment and all of the Company’s revenues and operations are in United States.

Recent Accounting Pronouncements

The Company has implemented all new pronouncements that are in effect and that may impact its consolidated financial statements and does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its consolidated financial statements or results of operations.

Nonmonetary Transactions

The Company follows ASC 450, “Non-Monetary Transactions” and considers ASC 450-30 “Contingencies”, to report accounting for recognition homes inventory for sales and nonmonetary gain.

Reclassification

Certain accounts from prior periods have been reclassified to conform to the current period presentation.

NOTE 3 - GOING CONCERN AND LIQUIDITY CONSIDERATIONS

The accompanying condensed 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 three months ended October 31, 2024, the Company incurred a net loss of $74,485. As of October 31, 2024, the Company had an accumulated deficit of $2,094,394. 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 may be insufficient to fund its capital expenditures, working capital and other cash requirements for the year ended July 31, 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.

The ability of the Company to begin operations in its new business model is dependent upon, among other things, obtaining financing to commence operations and develop a business plan or making an acquisition. The Company cannot give any assurance as to its ability to develop or acquire a business or to 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.

NOTE 4 – HOMES INVENTORY FOR SALES

On October 4, 2022, the Company, through RAC Real Estate Acquisition Corp.(“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 the LLC, the Company shall receive $13,000 and the average additional cash capital contribution per property. During the years ended July 31, 2024, and 2023, the Company invested $0 and $2,679,500 and recognized impairment loss of $ 947,500 and $1,732,000, respectively.

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In June 2024, the Company entered into two settlement agreements, which LLC and the other parties to transfer the title of forty-four (44) properties to the Company for selling and distribute the net proceed from the sales between the parties. According to the terms and condition of the settlement agreements, the Company shall pay the title search cost, taxes, lien expenses, and $185,238 payable to one of the parties.

During the year ended July 31, 2024, the Company repaid $185,238 obligation and pursuant to title search and settlement of taxes and due related to properties, the Company proceeded for obtaining the Quitclaim Deed Certificate of twenty-nine (29) properties. The Company intends to sell these properties.

During the year ended July 31, 2024, the Company obtained Quitclaim Deed Certificate and the official fair value reports of properties from an independent firm based on sales comparison and secondary sales and recognized the value of twenty-nine (29) properties based on the valuation reports and physical condition of the homes. Some of the homes must be remodeled, therefore its valuation was based on land price or secondary sales and or value per Square Foot. Those valuations were not more than sales comparison price.

During the three months ended October 31, 2024, the Company acquired one home for the amount of $8,021 and paid restoration / repairs expenses of $3,074 for selling.

As of October 31, 2024, and July 31, 2024, homes inventory for sales consist of as follows:

Nonmonetary gain recognized of 29 properties	$	1,530,117
Title cost paid in July 2024		82,888
Balance of 29 properties as of July 31, 2024		1,613,005

Cost of restoration and repairs		60,179
Purchased one home for sales		11,095
Balance of 30 properties as of October 31, 2024	$	1,684,279

NOTE 5 – REAL ESTATE PROPERTY, NET

As of October 31, 2024, and July 31, 2024, property and equipment consist of as follows;

	October 31,			July 31,
	2024			2024
Homes	$	1,824,638		$	1,318,062
Lands		136,290			132,708
Construction in progress		57,684			414,407
		2,018,612			1,865,177
Accumulated depreciation		(46,936	)		(31,985	)
	$	1,971,676		$	1,833,192

During the three months ended October 31, 2024, and the year ended July 31, 2024, three (3) homes and five (5) homes were completed, respectively.

As of October 31, 2024, the construction in progress consists of the cost of titles and construction expenses for three (3) homes which have not been completed.

As of October 31, 2024, the Company had eleven (11) completed homes and entered into seven (7) separate lease agreements with monthly lease payments of $1,100 for one home, $1,250 for five homes and $1,200 for one home, each for a period of one year for each home leased. As of October 31, 2024, two homes which the occupancy permits were issued on August 28, 2024, and September 18, 2024, have not been leased, the lease agreements of two homes were expired and are on market for lease.

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During the three months ended October 31, 2024, and 2023, the Company recorded a depreciation expense of $14,951 and $5,928, respectively.

NOTE 6 - RELATED PARTY TRANSACTIONS

During the three months ended October 31, 2024, and 2023, the Company’s related party advanced $239,000 and $40,000 to the Company, and the Company repaid $0 and $85,000, respectively. The advances are unsecure, due on demand and non-bearing interest.

During the three months ended October 31, 2024, and 2023, the Company’s related parties advanced $0 and $50,000 and the Company repaid $0 and $18,400, respectively. The advances are unsecured, payable during the period of five to ten months with interest of a range from 12% to 24% annual. During the three months ended October 31, 2024, and 2023, the Company recognized and paid interest expenses of $0 and $9,258, respectively.

During the three months ended October 31, 2024, and 2023, the Company repaid related party’s loan of $28,500 and $0 and interest payable of $3,958 and $0, respectively.

As of October 31, 2024, and July 31, 2024, the Company had due to related parties of $1,345,000 and $1,106,000, respectively.

NOTE 7 – BANK BORROWINGS

As of October 31, 2024, bank borrowings consist, as follows;

	Principal		Maturity	Interest			October 31,			July 31,
	Amount		date	Rate			2024			2024
Loan dated October 27,2023	$	114,800	11/1/2053		9.50	%	$	114,800		$	114,800
Loan dated October 27,2023		114,800	11/1/2053		9.50	%		114,800			114,800
Loan dated November 3,2023		88,000	11/15/2028		8.50	%		87,302			87,712
Loan dated November 3,2023		88,000	11/15/2028		8.50	%		87,316			87,726
Loan dated November 3,2023		88,000	11/15/2028		8.50	%		87,853			80,089
Loan dated November 3,2023		88,000	11/15/2028		8.50	%		87,859			44,153
Loan dated November 3,2023		88,000	11/15/2028		8.50	%		87,862			40,501
Loan dated July 26,2024		109,500	8/1/2054		8.63	%		109,371			109,500
Loan dated July 26,2024		126,300	8/1/2054		8.75	%		126,157			126,300
Loan dated July 26,2024		131,200	8/1/2054		9.13	%		131,060			131,200
Loan dated July 26,2024		131,200	8/1/2054		9.13	%		131,060			131,200
Total loans payable								1,165,440			1,067,981

Less: unamortized debt discount								(23,930	)		(24,675	)
Total								1,141,510			1,043,306
Less: current portion of loans payable								(431,072	)		(332,589	)
Long -term loans portion							$	710,438		$	710,717

Loans dated October 27, 2023

The monthly payment of $909 for the first 120 months to be applied to interest, and thereafter, will be in the amount of $1,070 for principal and interest.

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During the three months ended October 31, 2024, and 2023, the Company borrowed $0 and $215,110, recognized interest of $5,498 and $0, amortization of debt discount of $121 and $0 and paid interest of $5,453 and $0, respectively.

Loans dated November 3, 2023

These are construction loans (pre-mortgages) that are expected to convert to mortgage loans once the homes are completed.

During the three months ended October 31, 2024, the Company borrowed $99,258, recognized interest of $6,795, amortization of debt issuance cost of $623 and paid principal of $1,246 and interest of $8,448.

Loans dated July 26, 2024

On July 26, 2024, the Company’s Interim Chief Executive Officer (ICEO) obtained four loans (totally $498,200) for settlement of loans payable -related party for amounts of $471,500. On July 31, 2024, the Company and ICEO entered into an assignment agreement, and the Company accepted the terms and condition of four loans agreements.

During the three months ended October 31, 2024, the Company paid principal of $552 and recognized interest of $11,143 and paid interest of $7,431.

During the three months ended October 31, 2024, the Company allocated interest of $4,762 from total interest of $23,436 related to the above loans to construction in progress.

The following table outlines maturities of our long-term loans payable, as of October 31, 2024:

	October 31,
	2024
Year ending July 31,
Remaining of 2025	$	664,967
2026		69,711
2027		69,711
2028		69,711
2029		69,711
Thereafter		1,805,630
		2,749,441
Imputed interest		(1,584,001	)
	$	1,165,440

NOTE 8 – LOANS PAYABLE- RELATED PARTY

As of October 31, 2024, loans payable – related party consist of as follows;

	Principal		Maturity	Interest			October 31,		July 31,
	Amount		date	Rate			2024		2024
Loan dated December 1,2023	$	125,000	12/1/2053		9.50	%	$	-	$	22,500
Loan dated December 1,2023	$	125,000	12/1/2053		9.50	%		-		6,000
Total loans payable								-		28,500
Less: current portion								-		(28,500	)
Long -term loans portion							$	-	$	-

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The monthly payment of $3,958 for the 360 months to be applied to interest, and thereafter, the principal and any unpaid interest due on December 1, 2053.

On August 1, 2024, the Company paid and settled the outstanding principal balance of $28,500 and interest payable of $3,958.

NOTE 9 – LOAN PAYABLE

On July 31, 2024, the Company purchased land for the purpose of future construction of 7-8 duplex apartments in amount of $120,000. The Company signed a mortgage and warranty deed agreement with the seller for unpaid purchase price of $50,000, with 5% interest per annum, principal and interest being due and payable in 2 annual installments of $25,000 plus interest, beginning July 31, 2025, and the final instalment being July 31, 2026. During the three months ended October 31, 2024, the Company recognized interest of $630.

During the three months ended October 31, 2024, the Company allocated interest of $128 from total interest of $630 related to the above loan to construction in progress.

As of October 31, 2024, the Company had principal due of $50,000.

NOTE 10 - EQUITY

Authorized Preferred Stock

The Company has authorized 10,000,000 shares of preferred stock at par value of $0.001 per share.

Series A Preferred stock

The Company has designated 100,000 shares of preferred stock at par value of $0.001 per share.

	·	The Series A Preferred Shares share in any dividends pari passu with the holders of common stock;

	·	The Series A Preferred Shares have a liquidation preference equal to $10.00 per share;

	·	Each share of Series A Preferred Stock entitles the holder to 10 votes on any matter presented to the holders of the Common Stock:

	·	The Series A Preferred Shares have the right to convert into shares of Common Stock at a 25% discount to the next financing of $1,000,000 or more, subject to adjustment for stock splits or combinations, dividends and distributions of Common Shares, reorganizations, mergers or consolidations, or for issuance of shares of common stock below the conversion price:

	·	The Company has no right to redeem the shares; and

As of October 31, 2024, and July 31, 2024, the Company had 100,000 shares of preferred stock issued and outstanding.

Authorized Common Stock

The Company has authorized 300,000,000 shares of common stock at par value of $0.001 per share. Each share of common stock entitles the holder to one vote on any matter on which action of the stockholders of the corporation is sought.

As of October 31, 2024, and July 31, 2024, the Company had no options and warrants outstanding.

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As of October 31, 2024, and July 31, 2024, the Company had 11,986,686 shares of common stock issued and outstanding.

NOTE 11 – CONCENTRATION

As of October 31, 2024, and July 31, 2024, and for three months ended October 31, 2024, and 2023, customer concentrations (more than 10%) were as follows:

Revenue -rental income

	Percentage of Revenue
	For Three Months ended
	October 31,
	2024			2023
Tenant A		12.93	%		-
Tenant B		-			40.52	%
Tenant C		-			59.48	%
Tenant D		14.69	%		-
Tenant E		15.44	%		-
Tenant F		15.06	%		-
Tenant G		14.70	%		-
Tenant H		14.10	%		-
Total (as a group)		86.92	%		100.00	%

Accounts receivable

The rental properties are managed by a management company during the three months ended October 31, 2024, and the year ended July 31, 2024, therefore 100% of accounts receivable is related to one customer at October 31, 2024 and July 31, 2024.

NOTE 12 - SUBSEQUENT EVENTS

Management has evaluated subsequent events through the date these financial statements were available to be issued. Based on our evaluation no material events have occurred that require disclosure, except as follows:

On November 15, 2024, one completed /vacant home on September 18, 2024, was leased for term on one year with monthly lease of $1,250.

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 5^th Avenue, Laurel, MS in amount of $41,565.49 in cash.

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Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.

Overview

We were formerly classified as a shell company and have since transitioned into active operations following the acquisition of RAC Real Estate Acquisition Corp. ("RAC"). We no longer maintain the status of a shell company due to these developments.

In July 2022, we acquired RAC, a Wyoming-based corporation, which is now 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 January 31, 2023, the Company changed its corporate name to My City Builders, Inc., through the merger of the Company with its wholly owned subsidiary, My City Builders, Inc., a Nevada corporation (the “Subsidiary”). Pursuant to an agreement and plan of merger between the Company and the Subsidiary, the Subsidiary was merged with and into the Company and the Company’s name was changed to My City Builders, Inc. The only change to the Company’s articles of incorporation was the change of the Company’s corporate name. Pursuant to the Nevada Revised Statutes (NRS) 92A.180, the merger did not require stockholder approval. On April 26, 2023, FINRA notified the Company that their review of our corporate name change, disclosed in our 8-K filed on February 1, 2023, with the SEC, was complete and that the announcement of the merger, name and symbol change for the Company had been announced on their Daily List on April 26, 2023. The corporate action took effect at the open of business on April 27, 2023, in the open market. The Company’s new trading symbol is MYCB.

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 RAC was terminated and Mr. Colvard transferred his 1% and withdrew as a member and manager of the LLC.

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 the LLC, the Company shall receive $13,000 and the average additional cash capital contribution per property. During the years ended July 31, 2024, and 2023, the Company invested $0 and $2,679,500 and recognized impairment loss of $ 947,500and $1,732,000, respectively.

Since the acquisition of RAC, the Company, through our third-party vendor, has financed the clearance of 55 titles in the name of Fix Pads Holdings.

On July 22, 2022, the Company received a promissory note, in the principal amount of $672,960 from, and entered into a Loan Agreement dated July 18, 2022, with, Fix Pads Holdings, LLC. The note had a 12% interest rate per annum payable of $672,960. Consideration for the note was paid in part by the Company in the amount of $328,626, net of prepayment interest and in part by a third-party investor in the amount of $328,626. On August 18, 2022, the Company issued a promissory note of $358,620. The note had a 12% interest rate per annum payable of $358,620 and was due on August 1, 2023. Consideration for the note was paid in part by the Company in the amount of $175,007, net of prepayment interest and in part by a third-party investor in the amount of $175,007.

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During the year ended July 31, 2023, the Company collected principal of $444,325 and interest of $67,457, of which principal of $157,105 and interest of $28,133 (totaling $185,238) were collected on behalf of a third-party investor and recorded as accrued liabilities as of July 31, 2023. On July 23, 2024, the Company repaid outstanding due of $185,238.

On July 7, 2023, RAC filed an ongoing lawsuit with Fix Pad Holdings, therefore, no further interest income was recognized. During the years ended July 31, 2024, and 2023, the Company recorded interest income of $0 and $49,187, respectively.

On May 19, 2023, RAC filed a complaint for breach of two promissory notes entered into with Fix Pads Holdings, LLC and for injunctive relief in the 11^th Judicial Circuit Court in Miami-Dade County Florida, as well as an emergency motion for temporary injunction enjoining Fix Pads Holdings, LLC from selling, transferring, conveying or otherwise disposing of any real property assets pledged as collateral in relation to the two promissory notes entered into between RAC and Fix Pads. In addition to the injunctive relief sought above, RAC is also seeking damages for breach of the promissory notes. After RAC filed and served the lawsuit, Fix Pads removed the lawsuit to the United States District Court for the Southern District of Florida on May 24, 2023. As such, the case is now proceeding in the Southern District of Florida. RAC has obtained temporary injunctive relief against Fix Pads.

On July 7, 2023, RAC filed a complaint for appointment of receiver, breach of Limited Liability Company Agreement, and breach of fiduciary duty in the 11^th Judicial Circuit Court of Miami-Dade County, Florida against Fix Pads Holdings LLC, FixPads Management, LLC and RAC FixPads II, LLC. RAC seeks a receiver to be appointed to wind up the real property assets of RAC FixPads II, LLC and for damages for breach of the joint venture agreement.

In June 2024, the parties entered into two settlement agreements, which FixPads Holdings LLC and the other Defendants agreed to transfer the title of 44 properties to the Company.

Pursuant to title search and settlement of taxes and due related to properties, the Company proceeded to obtain the Quitclaim Deed Certificates on 29 properties. As of the date of this report, 29 Quitclaim Deed Certificates were issued. RAC has started the renovation and completion of the properties since July 2024. All twenty-nine homes will be immediately placed for sale once fully renovated.

The Company obtained the official fair value reports of properties from an independent firm based on sales comparison and secondary sales and recognized the value of 29 properties based on the valuation reports and physical condition of the homes. Some of the homes must be remodeled, therefore its valuation was based on land price or secondary sales and or value per Square Foot. Those valuations were not more than sales comparison price and have been disclosed as nonmonetary gain in the Company’s Financial Statements.

On October 18, 2024, RAC finalized the purchase of one home in Laurel Missippi in amount of $8,021. The Company plans to renovate the home and to sell it.

On April 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. With the aim of bolstering rental demand, RAC has started construction on these newly acquired lots. 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 July 31, 2024, RAC Gadsden LLC entered into a land purchase agreement in Glencoe Alabama. Glencoe is the neighboring town to Gadsden, and the Company plans to build seven to eight duplex apartments on the parcel of land during the calendar year of 2025.

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As of October 31^, 2024, RAC has completed eleven homes and three homes under construction in East Gadsden and has seven of the eleven completed properties leased with monthly lease payments of $1,100 to $1,250, each for a period of one year for each home leased.

On January 17, 2024, the Company’s Board of Directors approved the settlement of $2,850,000 due to one related party in exchange for an issuance of 11,400,000 shares of common stock. The Company valued the issuance of 11,400,000 shares of common stock at market price of $0.20 per share on settlement date and recognized gain of $570,000. The gain on settlement of debts to related party was added in additional paid in capital.

Results of Operations

The following summary of our results of operations should be read in conjunction with our unaudited consolidated financial statements for the three months ended October 31, 2024, and 2023, which are included herein.

Our operating results for the three months ended October 31, 2024, and 2023, and the changes between those periods for the respective items are summarized as follows:

Three Months Ended October 31, 2024, compared to the Three Months ended October 31,2023

	Three Months Ended
	October 31,
	2024		2023		Change
Revenue	$	25,528	$	6,169	$	(19,359	)
Operating expenses		80,092		75,488		4,604
Other expenses		19,921		9,258		10,663
Net loss	$	74,485	$	78,577	$	(4,092	)

For the three months ended October 31, 2024, and 2023, we generated revenue from rent income of $25,528 and $6,169, respectively.

We had a net loss of $74,485 for the three months ended October 31, 2024, and $78,577 for the three months ended October 31, 2023. The decrease in net loss of $4,092 was due to an increase in operating expenses of $4,604 and other expenses of $10,663 offset by an increase in revenue of $19,359.

Operating expenses for the three months ended October 31, 2024, and 2023 were $80,092 and $75,488, respectively. For the three months ended October 31, 2024, and 2023, the operating expenses were primarily attributed to professional fees of $51,247 and $57,536, general and administrative expenses of $7,301 and $9,805, depreciation expenses of $14,951 and $5,928 and cost of rental homes of $6,593 and $2,219 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 three months ended October 31, 2024, and 2023, represent interest expenses -related party of $0 and $9,258 for granted loans and interest expenses of $19,921 and $0 for banks borrowings and loan payable to third party, respectively.

Balance Sheet Data

	October 31,			July 31,
	2024			2024		Change
Cash	$	15,169		$	20,245	$	(5,076	)
Working capital (deficiency)	$	(149,043	)	$	64,205	$	(213,248	)
Total current assets	$	1,699,636		$	1,635,857	$	63,779
Total current liabilities	$	1,848,679		$	1,571,652	$	277,027
Stockholders' Equity	$	1,087,195		$	1,161,680	$	(74,485	)

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As of October 31, 2024, our current assets were $1,699,636 and our current liabilities were $1,848,679 which resulted in working capital deficiency of $149,043. As of October 31, 2024, current assets were comprised of $15,169 in cash, $188 in accounts receivable, $1,684,279 in homes inventory for sales, compared to $20,245 in cash, $2,607 in accounts receivable, $1,613,005 in homes inventory for sales.

As of October 31, 2024, current liabilities were comprised of $47,607 in accounts payable and accrued liabilities, $1,345,000 in due to related parties, $25,000 loan payable-current portion and $431,072 in bank borrowings, compared to $79,563 in accounts payable and accrued liabilities, $1,106,000 in due to related parties, $25,000 loan payable-current portion, $28,500 in loans payable -related party and $332,589 in bank borrowings as of July 31, 2024.

Cash Flow Data

	Three Months Ended
	October 31,
	2024			2023			Change
Cash used in operating activities	$	(159,601	)	$	(38,048	)	$	(121,553	)
Cash used in investing activities	$	(153,435	)	$	(94,960	)	$	(58,475	)
Cash provided by financing activities	$	307,960		$	201,710		$	106,250
Net change in cash during period	$	(5,076	)	$	68,702		$	(73,778	)

Cash Flows from Operating Activities

We have not generated positive cash flows from operating activities. For the three months ended October 31, 2024, net cash flows used in operating activities was $159,601, consisting of a net loss of $74,485, reduced by depreciation expenses of $14,951, amortization of debt discount of $744, accounts receivable of $2,419, and increased by accounts payable and accrued liabilities of $31,956 and homes inventory cost for sales of $71,274.

For the three months ended October 31, 2023, net cash flows used in operating activities was $38,048, consisting of a net loss of $78,577, reduced by depreciation expenses of $5,928, prepaid expenses of $5,954, accrued interest income of $265 and accounts payable and accrued liabilities of $28,382.

Cash Flows from Investing Activities

During the three months ended October 31, 2024, and 2023, the Company used $153,435 and $94,960 for payments of construction expenses.

Cash Flows from Financing Activities

During the three months ended October 31, 2024, the Company received advance from a related party of $239,000, bank borrowings of $99,258 and repaid loans payable -related party of $28,500 and bank borrowings of $1,798.

During the three months ended October 31, 2023, the Company received advance from related parties of $90,000, bank borrowings of $215,110, and repaid $103,400 to related parties.

Going Concern

Our consolidated 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. During the three months ended October 31, 2024, we incurred net loss of $74,485 and net cash used in operating activities of $159,601. As of October 31, 2024, we had an accumulated deficit of $2,094,394 and working capital deficit of $149,043. 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 expenditures, working capital and other cash requirements. The ability of the Company to continue operations in its new business model 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.

Table of Contents

Off-Balance Sheet Arrangements

We do not have any off-balance sheet arrangements.

Critical Accounting Policies

Use of Estimates: The preparation of the accompanying consolidated financial statements in conformity with GAAP requires management to make certain estimates and assumptions that directly affect the results of reported assets, liabilities, revenue, and expenses, including the valuation of non-cash transactions. Actual results may differ from these estimates.

Revenue Recognition

	(i)	Identify the contract, or contracts, with a tenant;
	(ii)	Identify the performance obligations in the rental contract;
	(iii)	Determine the transaction price;
	(iv)	Allocate the transaction price to the performance obligations in the contract;
	(v)	Recognize revenue when the Company satisfies a performance obligation.

Rental income

Cost of rental homes

The cost of rental homes are expenses directly related to rental homes, such as lawncare, maintenance and repairs, management fees, utilities, insurance and property taxes.

Commitments and Contingencies

The Company follows ASC 450-20, “Loss Contingencies”, to report accounting for contingencies. Liabilities for loss contingencies arising from claims, assessments, litigation, fines and penalties and other sources are recorded when it is probable that a liability has been incurred and the amount of the assessment can be reasonably estimated.

Recent Accounting Pronouncements

Nonmonetary Transactions

The Company follows ASC 450, “Non-Monetary Transactions” and considers ASC 450-30 “Contingencies”, to report accounting for recognition homes inventory for sales and nonmonetary gain on settlement of lawsuit.

Table of Contents

Concentration

As of October 31, 2024, and July 31, 2024, and for three months ended October 31, 2024, and 2023, customer concentrations (more than 10%) were as follows:

Revenue -rental income

	Percentage of Revenue
	For Three Months ended
	October 31,
	2024			2023
Tenant A		12.93	%		-
Tenant B		-			40.52	%
Tenant C		-			59.48	%
Tenant D		14.69	%		-
Tenant E		15.44	%		-
Tenant F		15.06	%		-
Tenant G		14.70	%		-
Tenant H		14.10	%		-
Total (as a group)		86.92	%		100.00	%

Accounts receivable

Item 3. Quantitative and Qualitative Disclosures About Market Risk.

As a smaller reporting company, we have elected not to provide the disclosure required by this item.

Item 4. Controls and Procedures.

Evaluation of Disclosure Controls and Procedures

We conducted an evaluation of the effectiveness of our “disclosure controls and procedures” (“Disclosure Controls”), as defined by Rules 13a-15(e) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), as of October 31, 2024, the end of the period covered by this quarterly report on Form 10-Q. The Disclosure Controls evaluation was done under supervision and with the participation of management, including our chief executive officer and chief financial officer. There are inherent limitations to the effectiveness of any system of disclosure controls and procedures. Accordingly, even effective disclosure controls and procedures can only provide reasonable assurance of achieving their control objectives. Based upon this evaluation, our chief executive officer and chief financial officer, concluded that, due to the inadequacy of our internal controls over financial reporting and our limited internal audit function, our disclosure controls were not effective as of October 31, 2024, such that the information required to be disclosed by us in reports filed under the Exchange Act is (i) recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms and (ii) accumulated and communicated to the president and treasurer, as appropriate, to allow timely decisions regarding disclosure.

Changes in Internal Control over Financial Reporting

As reported in our annual report on Form 10-K for the year ended July 31, 2024, management has determined that our internal controls contain material weaknesses due to the absence of segregation of duties, as well as lack of qualified accounting personnel and excessive reliance on third party consultants for accounting, financial reporting and related activities. Currently we have two principal executive officers, that serve as chief executive officer and chief financial officer, and also directors of the company. Both executive officers do not have an accounting background which makes it unlikely that we will be able to implement effective internal controls over financial reporting in the near future.

During the period ended October 31, 2024, there was no change in our internal control over financial reporting (as such term is defined in Rule 13a-15(f) under the Exchange Act) that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

Table of Contents

PART II – OTHER INFORMATION

Item 1. Legal Proceedings.

On March 23, 2023, RAC was awarded a judgement from the District Court in Clark County Nevada enabling the company to cancel common shares held in the name of HUI PING LIU. These shares were originally issued to HUI PING LIU for no consideration by our former CEO Daniel Tsai.

On July 7, 2023, RAC filed a complaint for appointment of receiver, breach of LLC agreement, and breach of fiduciary duty in the 11^th Judicial Circuit Court of Miami-Dade County, Florida against Fix Pads Holdings LLC, FixPads Management, LLC and RAC FixPads II, LLC. RAC seeks a receiver to be appointed to wind up the real property assets of RAC FixPads II, LLC and for damages for breach of the joint venture agreement.

In June 2024, the parties entered into two settlement agreements, which FixPads Holdings LLC and the other defendants agreed to transfer the title of 44 properties to the Company.

Pursuant to title search and settlement of taxes and due related to properties, the Company proceeded to obtain the quitclaim deed certificate of 29 properties.

RAC has started the renovation and completion of the properties since July 2024. All twenty-nine homes will be immediately placed for sale once fully renovated.

On July 23, 2024, as part of the settlement agreements RAC paid $185,238.37 as part of the proceeds owed to Frank Campanero on the secured loans dated July 22, 2022, and August 18, 2022.

Item 1A. Risk Factors

As a “smaller reporting company,” we are not required to provide the information required by this Item.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

None.

Item 3. Defaults Upon Senior Securities

None.

Item 4. Mine Safety Disclosures

Not Applicable.

Item 5. Other Information

None.

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Item 6. Exhibits.

The following exhibits are included as part of this report:

Exhibit Number		Description
(31)		Rule 13a-14(a)/15d-14(a) Certification
31.1		Section 302 Certification under the Sarbanes-Oxley Act of 2002 of the Principal Executive Officer,
31.2		Section 302 Certification under the Sarbanes-Oxley Act of 2002 of the Principal Financial Officer and Principal Accounting Officer
(32)		Section 1350 Certification
32.1		Section 906 Certification under the Sarbanes-Oxley Act of 2002 of the Principal Executive Officer
32.2		Section 906 Certification under the Sarbanes-Oxley Act of 2002 of the Principal Financial Officer and Principal Accounting Officer
101*		Inline XBRL Document Set for the consolidated financial statements and accompanying notes in Part I, Item 1, “Financial Statements” of this Quarterly Report on Form 10-Q.
104*		Inline XBRL for the cover page of this Quarterly Report on Form 10-Q, included in the Exhibit 101 Inline XBRL Document Set.

Table of Contents

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	MY CITY BUILDERS, INC.

Dated: December 13, 2024		/s/ Yolanda Goodell
		Yolanda Goodell
		Interim Chief Executive Officer (Principal Executive Officer)

nullnullnullnull

Cover - shares	3 Months Ended
Cover - shares	Oct. 31, 2024	Dec. 09, 2024
Cover [Abstract]
Entity Registrant Name	My City Builders, Inc.
Entity Central Index Key	0001556801
Document Type	10-Q
Amendment Flag	false
Current Fiscal Year End Date	--07-31
Entity Small Business	true
Entity Shell Company	false
Entity Emerging Growth Company	false
Entity Current Reporting Status	Yes
Document Period End Date	Oct. 31, 2024
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2025
Entity Common Stock Shares Outstanding		11,986,686
Entity File Number	000-55233
Entity Incorporation State Country Code	NV
Entity Tax Identification Number	27-3816969
Entity Address Address Line 1	100 Biscayne Blvd.
Entity Address Address Line 2	#1611
Entity Address Address Line 3	1611
Entity Address City Or Town	Miami
Entity Address State Or Province	FL
Entity Address Postal Zip Code	33132
City Area Code	786
Local Phone Number	553-4006
Document Quarterly Report	true
Document Transition Report	false
Entity Interactive Data Current	Yes

Condensed Consolidated Balance Sheets - USD ($)	Oct. 31, 2024	Jul. 31, 2024
Current Assets
Cash	$ 15,169	$ 20,245
Accounts receivable	188	2,607
Homes inventory for sales	1,684,279	1,613,005
Total Current Assets	1,699,636	1,635,857
Property and equipment, net	1,971,676	1,833,192
TOTAL ASSETS	3,671,312	3,469,049
Current Liabilities
Accounts payable and accrued liabilities	47,607	79,563
Loan Payable - current portion	25,000	25,000
Loans payable, related party	0	28,500
Due to related parties	1,345,000	1,106,000
Bank borrowings - current portion, net	431,072	332,589
Total Current Liabilities	1,848,679	1,571,652
Bank borrowings, net	710,438	710,717
Loan Payable	25,000	25,000
TOTAL LIABILITIES	2,584,117	2,307,369
Stockholders'' Equity
Preferred stock, value	0	0
Common stock: 300,000,000 authorized; $0.001 par value 11,986,686 and 11,986,686 shares issued and outstanding at October 31, 2024 and July 31,2024, respectively	11,987	11,987
Additional paid in capital	3,169,714	3,169,714
Accumulated deficit	(2,094,394)	(2,019,954)
Equity attributable to stockholders of My City Builders, Inc.	1,087,407	1,161,847
Deficit attributable to noncontrolling interests	(212)	(167)
Total Stockholders'' Equity	1,087,195	1,161,680
TOTAL LIABILITIES AND STOCKHOLDES' EQUITY	3,671,312	3,469,049
Series A Preferred Stock [Member]
Stockholders'' Equity
Preferred stock, value	$ 100	$ 100

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Oct. 31, 2024	Jul. 31, 2024
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	300,000,000	300,000,000
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares issued	11,986,686	11,986,686
Common stock, shares outstanding	11,986,686	11,986,686
Series A Preferred Stock [Member]
Preferred stock, designated	100,000	100,000
Preferred stock, shares issued	100,000	100,000
Preferred stock, shares outstanding	100,000	100,000
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, designated	100,000	100,000

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended
	Oct. 31, 2024	Oct. 31, 2023
Revenue
Rental income	$ 25,528	$ 6,169
Total revenue	25,528	6,169
Operating expenses
Cost of rental homes	6,593	2,219
Depreciation	14,951	5,928
General and administrative	7,301	9,805
Professional fees	51,247	57,536
Total operating expenses	80,092	75,488
Loss from operations	(54,564)	(69,319)
Other income and expense
Interest expense- related party	0	(9,258)
Interest expense	(19,921)	0
Total other expense	(19,921)	(9,258)
Loss before income taxes	(74,485)	(78,577)
Provision for income taxes	0	0
Net Loss	(74,485)	(78,577)
Less: Net loss attributable to noncontrolling interests	(45)	(80)
Net loss attributable to stockholders of My City Builders, Inc.	$ (74,440)	$ (78,497)
Basic and diluted loss per share of common stock	$ (0.01)	$ (0.13)
Basic weighted average number of common shares outstanding	11,986,686	586,686

Condensed Consolidated Statements of Changes in Stockholders Equity (Deficit) (Unaudited) - USD ($)	Total	Series A Preferred Stock	Common Stock	Additional Paid-In Capital	Retained Earnings (Accumulated Deficit)	Total StockHolders Equity	Noncontrolling Interest
Balance, shares at Jul. 31, 2023		100,000	586,686
Balance, amount at Jul. 31, 2023	$ (1,714,072)	$ 100	$ 587	$ 331,114	$ (2,045,818)	$ (1,714,017)	$ (55)
Net loss	(78,577)	$ 0	$ 0	0	(78,497)	(78,497)	(80)
Balance, shares at Oct. 31, 2023		100,000	586,686
Balance, amount at Oct. 31, 2023	(1,792,649)	$ 100	$ 587	331,114	(2,124,315)	(1,792,514)	(135)
Balance, shares at Jul. 31, 2024		100,000	11,986,686
Balance, amount at Jul. 31, 2024	1,161,680	$ 100	$ 11,987	3,169,714	(2,019,954)	1,161,847	(167)
Net loss	(74,485)	$ 0	$ 0	0	(74,440)	(74,440)	(45)
Balance, shares at Oct. 31, 2024		100,000	11,986,686
Balance, amount at Oct. 31, 2024	$ 1,087,195	$ 100	$ 11,987	$ 3,169,714	$ (2,094,394)	$ 1,087,407	$ (212)

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Oct. 31, 2024	Oct. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (74,485)	$ (78,577)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	14,951	5,928
Amortization of debt discount	744	0
Changes in operating assets and liabilities:
Prepaid expenses	0	5,954
Accounts receivable	2,419	0
Accrued interest income	0	(265)
Accounts payable and accrued liabilities	(31,956)	28,382
Homes inventory cost for sales	(71,274)	0
Net cash used in operating activities	(159,601)	(38,048)
CASH FLOWS FROM INVESTING ACTIVITIES:
Payment for construction	(153,435)	(94,960)
Net cash used in investing activities	(153,435)	(94,960)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from bank borrowing	99,258	215,110
Repayment bank borrowing	(1,798)	0
Repayment loans payable -related party	(28,500)	0
Advances from related parties	239,000	90,000
Repayments to related parties	0	(103,400)
Net cash provided by financing activities	307,960	201,710
Net change in cash	(5,076)	68,702
Cash, beginning of period	20,245	151,718
Cash, end of period	15,169	220,420
Supplemental cash flow information
Cash paid for interest	25,290	9,258
Cash paid for taxes	$ 0	$ 0

ORGANIZATION AND BUSINESS OPERATIONS

3 Months Ended

Oct. 31, 2024

ORGANIZATION AND BUSINESS OPERATIONS

ORGANIZATION AND BUSINESS OPERATIONS

NOTE 1 - ORGANIZATION AND BUSINESS OPERATIONS

Share Exchange and Reorganization

Recapitalization

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

3 Months Ended

Oct. 31, 2024

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Presentation of Interim Information

Principles of Consolidation

The consolidated financial statements include the accounts of My City Builders and its subsidiaries. Intercompany transactions and balances have been eliminated.

Use of Estimates

Cash and Cash Equivalents

Fair Value Measurements

	·	Level 1 - Inputs are quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. Valuation of these instruments does not require a high degree of judgment as the valuations are based on quoted prices in active markets that are readily and regularly available.

	·	Level 2 - Inputs other than quoted prices in active markets that are either directly or indirectly observable as of the measurement date, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

	·	Level 3 - Valuations based on inputs that are unobservable and not corroborated by market data. The fair value for such assets and liabilities is generally determined using pricing models, discounted cash flow methodologies, or similar techniques that incorporate the assumptions a market participant would use in pricing the asset or liability.

Long term investment

Real Estate Property

Impairment of Long-Lived Assets

Lessor accounting – operating leases

	(i)	the timing and pattern of transfer of the lease component and the non-lease component(s) are the same; and
	(ii)	the lease component would be classified as an operating lease if it were accounted for separately.

Revenue Recognition

	(i)	Identify the contract, or contracts, with a tenant;
	(ii)	Identify the performance obligations in the rental contract;
	(iii)	Determine the transaction price;
	(iv)	Allocate the transaction price to the performance obligations in the contract;
	(v)	Recognize revenue when the Company satisfies a performance obligation.

Interest income

Rental income

Cost of rental homes

The cost of rental homes are expenses directly related to rental homes, such as lawncare, maintenance and repairs, management fees, utilities, insurance, and property taxes.

General and administrative expenses

General and administrative expenses primarily consist of office expenses, travel, meals and entertainment and insurance.

Income Taxes

Concentrations of Credit Risk

Net Loss per Share of Common Stock

Related Parties and Transactions

The Company identifies related parties, and accounts for, discloses related party transactions in accordance with ASC Topic 850, “Related Party Disclosures” and other relevant ASC standards.

Segments

Recent Accounting Pronouncements

Nonmonetary Transactions

The Company follows ASC 450, “Non-Monetary Transactions” and considers ASC 450-30 “Contingencies”, to report accounting for recognition homes inventory for sales and nonmonetary gain.

Reclassification

Certain accounts from prior periods have been reclassified to conform to the current period presentation.

GOING CONCERN AND LIQUIDITY CONSIDERATIONS

3 Months Ended

Oct. 31, 2024

GOING CONCERN AND LIQUIDITY CONSIDERATIONS

GOING CONCERN AND LIQUIDITY CONSIDERATIONS

NOTE 3 - GOING CONCERN AND LIQUIDITY CONSIDERATIONS

HOMES INVENTORY FOR SALES

3 Months Ended

Oct. 31, 2024

HOMES INVENTORY FOR SALES

HOMES INVENTORY FOR SALES

NOTE 4 – HOMES INVENTORY FOR SALES

During the three months ended October 31, 2024, the Company acquired one home for the amount of $8,021 and paid restoration / repairs expenses of $3,074 for selling.

As of October 31, 2024, and July 31, 2024, homes inventory for sales consist of as follows:

Nonmonetary gain recognized of 29 properties	$	1,530,117
Title cost paid in July 2024		82,888
Balance of 29 properties as of July 31, 2024		1,613,005

Cost of restoration and repairs		60,179
Purchased one home for sales		11,095
Balance of 30 properties as of October 31, 2024	$	1,684,279

REAL ESTATE PROPERTY, NET

3 Months Ended

Oct. 31, 2024

REAL ESTATE PROPERTY, NET

REAL ESTATE PROPERTY, NET

NOTE 5 – REAL ESTATE PROPERTY, NET

As of October 31, 2024, and July 31, 2024, property and equipment consist of as follows;

	October 31,			July 31,
	2024			2024
Homes	$	1,824,638		$	1,318,062
Lands		136,290			132,708
Construction in progress		57,684			414,407
		2,018,612			1,865,177
Accumulated depreciation		(46,936	)		(31,985	)
	$	1,971,676		$	1,833,192

During the three months ended October 31, 2024, and the year ended July 31, 2024, three (3) homes and five (5) homes were completed, respectively.

As of October 31, 2024, the construction in progress consists of the cost of titles and construction expenses for three (3) homes which have not been completed.

During the three months ended October 31, 2024, and 2023, the Company recorded a depreciation expense of $14,951 and $5,928, respectively.

RELATED PARTY TRANSACTIONS

3 Months Ended

Oct. 31, 2024

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS

NOTE 6 - RELATED PARTY TRANSACTIONS

During the three months ended October 31, 2024, and 2023, the Company repaid related party’s loan of $28,500 and $0 and interest payable of $3,958 and $0, respectively.

As of October 31, 2024, and July 31, 2024, the Company had due to related parties of $1,345,000 and $1,106,000, respectively.

BANK BORROWINGS

3 Months Ended

Oct. 31, 2024

BANK BORROWINGS

BANK BORROWINGS

NOTE 7 – BANK BORROWINGS

As of October 31, 2024, bank borrowings consist, as follows;

	Principal		Maturity	Interest			October 31,			July 31,
	Amount		date	Rate			2024			2024
Loan dated October 27,2023	$	114,800	11/1/2053		9.50	%	$	114,800		$	114,800
Loan dated October 27,2023		114,800	11/1/2053		9.50	%		114,800			114,800
Loan dated November 3,2023		88,000	11/15/2028		8.50	%		87,302			87,712
Loan dated November 3,2023		88,000	11/15/2028		8.50	%		87,316			87,726
Loan dated November 3,2023		88,000	11/15/2028		8.50	%		87,853			80,089
Loan dated November 3,2023		88,000	11/15/2028		8.50	%		87,859			44,153
Loan dated November 3,2023		88,000	11/15/2028		8.50	%		87,862			40,501
Loan dated July 26,2024		109,500	8/1/2054		8.63	%		109,371			109,500
Loan dated July 26,2024		126,300	8/1/2054		8.75	%		126,157			126,300
Loan dated July 26,2024		131,200	8/1/2054		9.13	%		131,060			131,200
Loan dated July 26,2024		131,200	8/1/2054		9.13	%		131,060			131,200
Total loans payable								1,165,440			1,067,981

Less: unamortized debt discount								(23,930	)		(24,675	)
Total								1,141,510			1,043,306
Less: current portion of loans payable								(431,072	)		(332,589	)
Long -term loans portion							$	710,438		$	710,717

Loans dated October 27, 2023

The monthly payment of $909 for the first 120 months to be applied to interest, and thereafter, will be in the amount of $1,070 for principal and interest.

Loans dated November 3, 2023

These are construction loans (pre-mortgages) that are expected to convert to mortgage loans once the homes are completed.

Loans dated July 26, 2024

During the three months ended October 31, 2024, the Company paid principal of $552 and recognized interest of $11,143 and paid interest of $7,431.

During the three months ended October 31, 2024, the Company allocated interest of $4,762 from total interest of $23,436 related to the above loans to construction in progress.

The following table outlines maturities of our long-term loans payable, as of October 31, 2024:

	October 31,
	2024
Year ending July 31,
Remaining of 2025	$	664,967
2026		69,711
2027		69,711
2028		69,711
2029		69,711
Thereafter		1,805,630
		2,749,441
Imputed interest		(1,584,001	)
	$	1,165,440

LOANS PAYABLE- RELATED PARTY

3 Months Ended

Oct. 31, 2024

LOANS PAYABLE- RELATED PARTY

LOANS PAYABLE- RELATED PARTY

NOTE 8 – LOANS PAYABLE- RELATED PARTY

As of October 31, 2024, loans payable – related party consist of as follows;

	Principal		Maturity	Interest			October 31,		July 31,
	Amount		date	Rate			2024		2024
Loan dated December 1,2023	$	125,000	12/1/2053		9.50	%	$	-	$	22,500
Loan dated December 1,2023	$	125,000	12/1/2053		9.50	%		-		6,000
Total loans payable								-		28,500
Less: current portion								-		(28,500	)
Long -term loans portion							$	-	$	-

The monthly payment of $3,958 for the 360 months to be applied to interest, and thereafter, the principal and any unpaid interest due on December 1, 2053.

On August 1, 2024, the Company paid and settled the outstanding principal balance of $28,500 and interest payable of $3,958.

LOAN PAYABLE

3 Months Ended

Oct. 31, 2024

LOAN PAYABLE

LOAN PAYABLE

NOTE 9 – LOAN PAYABLE

During the three months ended October 31, 2024, the Company allocated interest of $128 from total interest of $630 related to the above loan to construction in progress.

As of October 31, 2024, the Company had principal due of $50,000.

EQUITY

3 Months Ended

Oct. 31, 2024

EQUITY

EQUITY

NOTE 10 - EQUITY

Authorized Preferred Stock

The Company has authorized 10,000,000 shares of preferred stock at par value of $0.001 per share.

Series A Preferred stock

The Company has designated 100,000 shares of preferred stock at par value of $0.001 per share.

	·	The Series A Preferred Shares share in any dividends pari passu with the holders of common stock;

	·	The Series A Preferred Shares have a liquidation preference equal to $10.00 per share;

	·	Each share of Series A Preferred Stock entitles the holder to 10 votes on any matter presented to the holders of the Common Stock:

	·	The Series A Preferred Shares have the right to convert into shares of Common Stock at a 25% discount to the next financing of $1,000,000 or more, subject to adjustment for stock splits or combinations, dividends and distributions of Common Shares, reorganizations, mergers or consolidations, or for issuance of shares of common stock below the conversion price:

	·	The Company has no right to redeem the shares; and

As of October 31, 2024, and July 31, 2024, the Company had 100,000 shares of preferred stock issued and outstanding.

Authorized Common Stock

As of October 31, 2024, and July 31, 2024, the Company had no options and warrants outstanding.

As of October 31, 2024, and July 31, 2024, the Company had 11,986,686 shares of common stock issued and outstanding.

CONCENTRATION

3 Months Ended

Oct. 31, 2024

CONCENTRATION

CONCENTRATION

NOTE 11 – CONCENTRATION

As of October 31, 2024, and July 31, 2024, and for three months ended October 31, 2024, and 2023, customer concentrations (more than 10%) were as follows:

Revenue -rental income

	Percentage of Revenue
	For Three Months ended
	October 31,
	2024			2023
Tenant A		12.93	%		-
Tenant B		-			40.52	%
Tenant C		-			59.48	%
Tenant D		14.69	%		-
Tenant E		15.44	%		-
Tenant F		15.06	%		-
Tenant G		14.70	%		-
Tenant H		14.10	%		-
Total (as a group)		86.92	%		100.00	%

Accounts receivable

SUBSEQUENT EVENTS

3 Months Ended

Oct. 31, 2024

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS

NOTE 12 - SUBSEQUENT EVENTS

On November 15, 2024, one completed /vacant home on September 18, 2024, was leased for term on one year with monthly lease of $1,250.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

3 Months Ended

Oct. 31, 2024

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Presentation of Interim Information

Principles of Consolidation

The consolidated financial statements include the accounts of My City Builders and its subsidiaries. Intercompany transactions and balances have been eliminated.

Use of Estimates

Cash and Cash Equivalents

Fair Value Measurements

	·	Level 1 - Inputs are quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. Valuation of these instruments does not require a high degree of judgment as the valuations are based on quoted prices in active markets that are readily and regularly available.

	·	Level 2 - Inputs other than quoted prices in active markets that are either directly or indirectly observable as of the measurement date, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

	·	Level 3 - Valuations based on inputs that are unobservable and not corroborated by market data. The fair value for such assets and liabilities is generally determined using pricing models, discounted cash flow methodologies, or similar techniques that incorporate the assumptions a market participant would use in pricing the asset or liability.

Long term investment

Real Estate Property

Impairment of Long-Lived Assets

Lessor accounting - operating leases

	(i)	the timing and pattern of transfer of the lease component and the non-lease component(s) are the same; and
	(ii)	the lease component would be classified as an operating lease if it were accounted for separately.

Revenue Recognition

	(i)	Identify the contract, or contracts, with a tenant;
	(ii)	Identify the performance obligations in the rental contract;
	(iii)	Determine the transaction price;
	(iv)	Allocate the transaction price to the performance obligations in the contract;
	(v)	Recognize revenue when the Company satisfies a performance obligation.

Interest income

Rental income

Cost of rental homes

The cost of rental homes are expenses directly related to rental homes, such as lawncare, maintenance and repairs, management fees, utilities, insurance, and property taxes.

General and administrative expenses

General and administrative expenses primarily consist of office expenses, travel, meals and entertainment and insurance.

Income Taxes

Concentrations of Credit Risk

Net Loss per Share of Common Stock

Related Parties and Transactions

The Company identifies related parties, and accounts for, discloses related party transactions in accordance with ASC Topic 850, “Related Party Disclosures” and other relevant ASC standards.

Segments

Recent Accounting Pronouncements

Nonmonetary Transactions

The Company follows ASC 450, “Non-Monetary Transactions” and considers ASC 450-30 “Contingencies”, to report accounting for recognition homes inventory for sales and nonmonetary gain.

Reclassification

Certain accounts from prior periods have been reclassified to conform to the current period presentation.

HOMES INVENTORY FOR SALES (Tables)

3 Months Ended

Oct. 31, 2024

HOMES INVENTORY FOR SALES

Summary of Recognition of non monetary properties

Nonmonetary gain recognized of 29 properties	$	1,530,117
Title cost paid in July 2024		82,888
Balance of 29 properties as of July 31, 2024		1,613,005

Cost of restoration and repairs		60,179
Purchased one home for sales		11,095
Balance of 30 properties as of October 31, 2024	$	1,684,279

REAL ESTATE PROPERTY, NET (Tables)

3 Months Ended

Oct. 31, 2024

REAL ESTATE PROPERTY, NET

PROPERTY AND EQUIPMENT

	October 31,			July 31,
	2024			2024
Homes	$	1,824,638		$	1,318,062
Lands		136,290			132,708
Construction in progress		57,684			414,407
		2,018,612			1,865,177
Accumulated depreciation		(46,936	)		(31,985	)
	$	1,971,676		$	1,833,192

BANK BORROWINGS (Tables)

3 Months Ended

Oct. 31, 2024

BANK BORROWINGS

Schedule of bank borrowings

	Principal		Maturity	Interest			October 31,			July 31,
	Amount		date	Rate			2024			2024
Loan dated October 27,2023	$	114,800	11/1/2053		9.50	%	$	114,800		$	114,800
Loan dated October 27,2023		114,800	11/1/2053		9.50	%		114,800			114,800
Loan dated November 3,2023		88,000	11/15/2028		8.50	%		87,302			87,712
Loan dated November 3,2023		88,000	11/15/2028		8.50	%		87,316			87,726
Loan dated November 3,2023		88,000	11/15/2028		8.50	%		87,853			80,089
Loan dated November 3,2023		88,000	11/15/2028		8.50	%		87,859			44,153
Loan dated November 3,2023		88,000	11/15/2028		8.50	%		87,862			40,501
Loan dated July 26,2024		109,500	8/1/2054		8.63	%		109,371			109,500
Loan dated July 26,2024		126,300	8/1/2054		8.75	%		126,157			126,300
Loan dated July 26,2024		131,200	8/1/2054		9.13	%		131,060			131,200
Loan dated July 26,2024		131,200	8/1/2054		9.13	%		131,060			131,200
Total loans payable								1,165,440			1,067,981

Less: unamortized debt discount								(23,930	)		(24,675	)
Total								1,141,510			1,043,306
Less: current portion of loans payable								(431,072	)		(332,589	)
Long -term loans portion							$	710,438		$	710,717

Schedule of maturities of long term loans payable

	October 31,
	2024
Year ending July 31,
Remaining of 2025	$	664,967
2026		69,711
2027		69,711
2028		69,711
2029		69,711
Thereafter		1,805,630
		2,749,441
Imputed interest		(1,584,001	)
	$	1,165,440

LOANS PAYABLE- RELATED PARTY (Tables)

3 Months Ended

Oct. 31, 2024

LOANS PAYABLE- RELATED PARTY

Schedule of loans payable - related party

	Principal		Maturity	Interest			October 31,		July 31,
	Amount		date	Rate			2024		2024
Loan dated December 1,2023	$	125,000	12/1/2053		9.50	%	$	-	$	22,500
Loan dated December 1,2023	$	125,000	12/1/2053		9.50	%		-		6,000
Total loans payable								-		28,500
Less: current portion								-		(28,500	)
Long -term loans portion							$	-	$	-

CONCENTRATION (Tables)

3 Months Ended

Oct. 31, 2024

CONCENTRATION

Schedule of revenue (rental income) and accounts receivable

	Percentage of Revenue
	For Three Months ended
	October 31,
	2024			2023
Tenant A		12.93	%		-
Tenant B		-			40.52	%
Tenant C		-			59.48	%
Tenant D		14.69	%		-
Tenant E		15.44	%		-
Tenant F		15.06	%		-
Tenant G		14.70	%		-
Tenant H		14.10	%		-
Total (as a group)		86.92	%		100.00	%

ORGANIZATION AND BUSINESS OPERATIONS (Details Narrative) - USD ($)	1 Months Ended	3 Months Ended
	Jun. 30, 2022	Oct. 31, 2024	Jul. 31, 2024
Common stock issued		11,986,686	11,986,686
common stock, par value		$ 0.001	$ 0.001
Preferred Stock, par value		$ 0.001	$ 0.001
RAC [Member] \| Reorganization [Member]
Capital contribution	$ 500,000
Common stock issued	1,000
common stock, par value	$ 0.001
Preferred stock, shares issued	100,000
Preferred Stock, par value	$ 0.001
Ownership Percentage	100.00%
Membership Interest		98.00%
Mr. Colvard [Member]
Membership Interest		1.00%

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)	3 Months Ended		12 Months Ended
	Oct. 31, 2024	Oct. 31, 2023	Jul. 31, 2024
Interest capitalized amount	$ 4,890	$ 0
Homes [Member]
Property and equipment, useful life	27 years
Series A Preferred Stock [Member]
Antidilutive securities excluded from computation of earnings share	100,000		100,000

GOING CONCERN AND LIQUIDITY CONSIDERATIONS (Details Narrative) - USD ($)	3 Months Ended
	Oct. 31, 2024	Oct. 31, 2023	Jul. 31, 2024
GOING CONCERN AND LIQUIDITY CONSIDERATIONS
Net loss	$ (74,485)	$ (78,577)
Accumulated deficit	$ (2,094,394)		$ (2,019,954)

HOMES INVENTORY FOR SALES (Details) - USD ($)	3 Months Ended	12 Months Ended
HOMES INVENTORY FOR SALES (Details) - USD ($)	Oct. 31, 2024	Jul. 31, 2024
HOMES INVENTORY FOR SALES
Title cost paid in July 2024		$ 82,888
Nonmonetary gain recognized of 29 properties		1,530,117
Cost of restoration and repairs	$ 60,179
Purchased one home for sales	11,095
Homes inventory for sale	$ 1,684,279	$ 1,613,005

HOMES INVENTORY FOR SALES (Details Narrative) - USD ($)		3 Months Ended	12 Months Ended
HOMES INVENTORY FOR SALES (Details Narrative) - USD ($)	Oct. 04, 2022	Oct. 31, 2024	Jul. 31, 2024	Jul. 31, 2023
Payable to related parties			$ 185,238
Home acquired		$ 8,021
Restoration and repairs expenses		$ 3,074
Initial contribution	$ 1,000
Membership interest	50.00%
Invested amount			0	$ 2,679,500
Impairment loss			947,500	$ 1,732,000
RAC [Member]
Additional cash contributions	$ 5,214,000
Proceeds from sale	$ 13,000
June 2024 [Member]
Payable to related parties			$ 185,238

REAL ESTATE PROPERTY, NET (Details) - USD ($)	Oct. 31, 2024	Jul. 31, 2024
Property plant and equipment, gross	$ 2,018,612	$ 1,865,177
Accumulated depreciation	(46,936)	(31,985)
Total	1,971,676	1,833,192
Homes [Member]
Property plant and equipment, gross	1,824,638	1,318,062
Construction in Progress [Member]
Property plant and equipment, gross	57,684	414,407
Lands [Member]
Property plant and equipment, gross	$ 136,290	$ 132,708

REAL ESTATE PROPERTY, NET (Details Narrative) - USD ($)	3 Months Ended
REAL ESTATE PROPERTY, NET (Details Narrative) - USD ($)	Oct. 31, 2024	Oct. 31, 2023
Monthly lease payments	$ 1,100
Depreciation expense	14,951	$ 5,928
One Home [Member]
Monthly lease of completed homes	1,250
Five Home [Member]
Monthly lease of completed homes	$ 1,200

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	3 Months Ended
	Oct. 31, 2024	Oct. 31, 2023	Jul. 31, 2024
Due to related parties	$ 1,345,000		$ 1,106,000
Interest expenses paid	19,921	$ 0
Interest payable	3,958
Related Parties [Member]
Advances to the company	239,000	40,000
Expense repayments	0	85,000
Related Parties One [Member]
Interest expenses paid	0	9,258
Advances to the company	0	50,000
Expense repayments	$ 0	18,400
Description of advances unsecured, payable	The advances are unsecured, payable during the period of five to ten months with interest of a range from 12% to 24% annual
Related party's loan [Member]
Interest payable	$ 3,958	0
Expense repayments	$ 28,500	$ 0

BANK BORROWINGS (Details) - USD ($)	3 Months Ended
BANK BORROWINGS (Details) - USD ($)	Oct. 31, 2024	Jul. 31, 2024
Total loans payable	$ 1,165,440	$ 1,067,981
Less: Unamortized debt discount	(23,930)	(24,675)
Total loan	1,141,510	1,043,306
Less: current portion of loans payable	(431,072)	(332,589)
Long term loans portion	710,438	710,717
Loan Payable Five [Member]
Total loans payable	$ 87,859	$ 44,153
Interest rate		8.50%
Maturity date	Nov. 15, 2028
Loan borrowings principal amount		$ 88,000
Loan Payable [Member]
Total loans payable	$ 114,800	$ 114,800
Interest rate		9.50%
Maturity date	Nov. 01, 2053
Loan borrowings principal amount		$ 114,800
Loan Payable One [Member]
Total loans payable	$ 114,800	$ 114,800
Interest rate		9.50%
Maturity date	Nov. 01, 2053
Loan borrowings principal amount		$ 114,800
Loan Payable Two [Member]
Total loans payable	$ 87,302	$ 87,712
Interest rate		8.50%
Maturity date	Nov. 15, 2028
Loan borrowings principal amount		$ 88,000
Loan Payable Three [Member]
Total loans payable	$ 87,316	$ 87,726
Interest rate		8.50%
Maturity date	Nov. 15, 2028
Loan borrowings principal amount		$ 88,000
Loan Payable Four [Member]
Total loans payable	$ 87,853	$ 80,089
Interest rate		8.50%
Maturity date	Nov. 15, 2028
Loan borrowings principal amount		$ 88,000
Loan Payable Six [Member]
Total loans payable	$ 87,862	$ 40,501
Interest rate		8.50%
Maturity date	Nov. 15, 2028
Loan borrowings principal amount		$ 88,000
Loan Payable Seven [Member]
Total loans payable	$ 109,371	$ 109,500
Interest rate		8.63%
Maturity date	Aug. 01, 2054
Loan borrowings principal amount		$ 109,500
Loan Payable Eight [Member]
Total loans payable	$ 126,157	$ 126,300
Interest rate		8.75%
Maturity date	Aug. 01, 2054
Loan borrowings principal amount		$ 126,300
Loan Payable Nine [Member]
Total loans payable	$ 131,060	$ 131,200
Interest rate		9.13%
Maturity date	Aug. 01, 2054
Loan borrowings principal amount		$ 131,200
Loan Payable Ten [Member]
Total loans payable	$ 131,060	$ 131,200
Interest rate		9.13%
Maturity date	Aug. 01, 2054
Loan borrowings principal amount		$ 131,200

BANK BORROWINGS (Details 1)	Oct. 31, 2024 USD ($)
BANK BORROWINGS
2025	$ 664,967
2026	69,711
2027	69,711
2029	69,711
2028	69,711
Thereafter	1,805,630
Total	2,749,441
Imputed interest	(1,584,001)
Loan	$ 1,165,440

BANK BORROWINGS (Details Narrative) - USD ($)	3 Months Ended
BANK BORROWINGS (Details Narrative) - USD ($)	Oct. 31, 2024	Oct. 31, 2023	Jul. 31, 2024
Recognized interest amount	$ 630
Amortization of debt discount	744	$ 0
Allocated interest amount	128
Construction in progress amount	630
Loans payable related party	710,438		$ 710,717
October 27, 2023 [Member]
Loan	0	215,110
Interest paid	5,453	0
Recognized interest amount	5,498	0
Amortization of debt discount	121	$ 0
Payment of loan amount monthly for first 120 months	909
Payment of loan amount monthly after 120 months	1,070
November 3, 2023 [Member] \| Construction Loans [Member]
Loan	99,258
Interest paid	8,448
Recognized interest amount	6,795
Amortization of debt issuance cost	623
Principal amount paid	1,246
July 26, 2024 [Member]
Loan			498,200
Interest paid	7,431
Recognized interest amount	11,143
Principal amount paid	552
Allocated interest amount	4,762
Construction in progress amount	$ 23,436
Loans payable related party			$ 471,500

LOANS PAYABLE- RELATED PARTY (Details) - USD ($)	3 Months Ended
LOANS PAYABLE- RELATED PARTY (Details) - USD ($)	Oct. 31, 2024	Jul. 31, 2024
Long-term loans payable	$ 25,000	$ 25,000
Loans Payable Related Party [Member]
Total loans payable	$ 0	22,500
Interest rate	9.50%
Principal amount	$ 125,000
Maturity date	Dec. 01, 2053
Loans Payable Related Party One [Member]
Total loans payable	$ 0	6,000
Interest rate	9.50%
Principal amount	$ 125,000
Maturity date	Dec. 01, 2053
Total Loan Payable Related Party [Member]
Total loans payable	$ 0	28,500
Less: current portion	0	(28,500)
Long-term loans payable	$ 0	$ 0

LOANS PAYABLE- RELATED PARTY (Details Narrative) - USD ($)	3 Months Ended	12 Months Ended
	Oct. 31, 2024	Jul. 31, 2024
LOANS PAYABLE- RELATED PARTY
Loan Repayment	monthly payment of $3,958 for the 360 months to be applied to interest, and thereafter, the principal and any unpaid interest due on December 1, 2053
Principal of loans payment amount		$ 28,500
Interest paid	$ 3,958

LOANS PAYABLE (Details Narrative)	1 Months Ended	3 Months Ended
LOANS PAYABLE (Details Narrative)	Jul. 31, 2024 USD ($) integer	Oct. 31, 2024 USD ($)
LOANS PAYABLE (Details Narrative)
Construction in progress amount		$ 630
Allocated interest amount		128
Recognized interest amount		$ 630
Interest rate		5.00%
Purchase of assets	$ 120,000
Unpaid purchase price	$ 50,000
Number of installments \| integer	2
Installment payment amount	$ 25,000
Loan payable description	principal and interest being due and payable in 2 annual installments of $25,000 plus interest, beginning July 31, 2025, and the final instalment being July 31, 2026
Principal due to related party		$ 50,000

EQUITY (Details Narrative) - $ / shares	3 Months Ended
EQUITY (Details Narrative) - $ / shares	Oct. 31, 2024	Jul. 31, 2024	Jul. 31, 2023
Common stock, shares authorized	300,000,000	300,000,000
Common stock shares issued	11,986,686	11,986,686
Common stock shares outstanding	11,986,686	11,986,686
Common stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock at par value	$ 0.001	$ 0.001
Series A Preferred Stock [Member]
Preferred stock description	The Series A Preferred Shares have the right to convert into shares of Common Stock at a 25% discount to the next financing of $1,000,000 or more
Preferred stock at par value	$ 0.001	$ 0.001	$ 0.001
Preferred stock, designated	100,000	100,000	100,000
Liquidation preference per share	$ 10.00	$ 10.00
Preferred stock, issued	100,000	100,000	100,000
Preferred stock, outstanding	100,000	100,000	100,000

CONCENTRATION (Details) - Customer Concentration Risk [Member] - Revenue Benchmark [Member]	3 Months Ended
	Oct. 31, 2024	Oct. 31, 2023
Tenant A [Member]
Customer concentrations risk percentage	12.93%	0.00%
Tenant B [Member]
Customer concentrations risk percentage	0.00%	40.52%
Tenant C [Member]
Customer concentrations risk percentage	0.00%	59.48%
Tenant D [Member]
Customer concentrations risk percentage	14.69%	0.00%
Customer Total [Member]
Customer concentrations risk percentage	86.92%	100.00%
Tenant E [Member]
Customer concentrations risk percentage	15.44%	0.00%
Tenant F [Member]
Customer concentrations risk percentage	15.06%	0.00%
Tenant G [Member]
Customer concentrations risk percentage	14.70%	0.00%
Tenant H [Member]
Customer concentrations risk percentage	14.10%	0.00%

CONCENTRATION (Details Narrative)	3 Months Ended	12 Months Ended
CONCENTRATION (Details Narrative)	Oct. 31, 2024	Jul. 31, 2024
One customer [Member] \| Customer Concentration Risk [Member] \| Accounts Receivable [Member]
Customer concentrations risk percentage	100.00%	100.00%

SUBSEQUENT EVENTS (Details Narrative) - Subsequent Event [Member] - USD ($)	1 Months Ended
	Nov. 26, 2024	Nov. 15, 2024
Property acquired	$ 41,565
Ownership interest	50.00%
Monthly lease		$ 1,250

My City Builders (PK) (USOTC:MYCB)
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My City Builders (PK) (USOTC:MYCB)
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