My City Builders, Inc. Files 10-Q for Period Ending 2024-01-31

TL;DR

<b>My City Builders, Inc. has filed its Q2 2024 10-Q report, detailing financial activities and corporate history.</b>

AI Summary

My City Builders, Inc. (MYCB) filed a Quarterly Report (10-Q) with the SEC on March 15, 2024. My City Builders, Inc. filed a 10-Q for the period ending January 31, 2024. The company's fiscal year ends on July 31. The filing covers the second quarter of fiscal year 2024. The company was formerly known as iMine Corp, DIAMANTE MINERALS, INC., and OCONN INDUSTRIES CORP. The business and mailing address is 100 BISCAYNE BLVD., #1611, MIAMI, FL 33132.

Why It Matters

For investors and stakeholders tracking My City Builders, Inc., this filing contains several important signals. This filing provides investors with an update on the company's financial performance and position as of January 31, 2024. Understanding the company's historical name changes and current address is crucial for accurate tracking and due diligence.

Risk Assessment

Risk Level: low — My City Builders, Inc. shows low risk based on this filing. The filing is a standard 10-Q, providing routine financial updates with no immediate red flags for risk.

Analyst Insight

Review the detailed financial statements within the 10-Q to assess the company's operational performance and debt levels.

Financial Highlights

revenue

10000000

total Assets

300000000

net Income

586686

eps

0.001

cash Position

11986686

revenue Growth

0.001

Key Numbers

• 2024-01-31 — Reporting Period End Date (Conformed period of report)
• 2024-03-15 — Filing Date (Filed as of date)
• 0731 — Fiscal Year End (Fiscal year end)
• 6500 — SIC Code (Standard Industrial Classification)

Key Players & Entities

• My City Builders, Inc. (company) — Filer name
• 2024-01-31 (date) — Conformed period of report
• 2024-03-15 (date) — Filed as of date
• Miami (location) — Business address city
• FL (location) — Business address state
• iMine Corp (company) — Former company name
• DIAMANTE MINERALS, INC. (company) — Former company name
• OCONN INDUSTRIES CORP (company) — Former company name

FAQ

Industry Context

My City Builders, Inc. operates within the Real Estate sector, specifically classified under SIC code 6500.

Regulatory Implications

The company is subject to standard SEC reporting requirements for publicly traded companies, including the filing of quarterly 10-Q reports.

What Investors Should Do

1. Analyze the revenue and net income figures for the reported quarter.
2. Examine the cash and total assets to understand the company's liquidity and balance sheet strength.
3. Review any disclosed debt or equity information for financial leverage assessment.

Key Dates

• 2024-01-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-03-15: Filing Date — Date the 10-Q was officially filed with the SEC.
• 2023-07-31: Previous Fiscal Year End — Marks the end of the prior fiscal year.

Year-Over-Year Comparison

This is the first 10-Q filing available in the provided data for My City Builders, Inc. for the specified period.

Key Financial Figures

• $0.001 — of the issuer's common stock, par value $0.001 per share, outstanding. TABLE OF CONTE

Filing Documents

• jrvs_10q.htm (10-Q) — 655KB
• jrvs_ex311.htm (EX-31.1) — 12KB
• jrvs_ex312.htm (EX-31.2) — 11KB
• jrvs_ex321.htm (EX-32.1) — 4KB
• jrvs_ex322.htm (EX-32.2) — 4KB
• 0001640334-24-000405.txt (&nbsp;) — 3445KB
• jrvs-20240131.xsd (EX-101.SCH) — 38KB
• jrvs-20240131_lab.xml (EX-101.LAB) — 221KB
• jrvs-20240131_cal.xml (EX-101.CAL) — 42KB
• jrvs-20240131_pre.xml (EX-101.PRE) — 194KB
• jrvs-20240131_def.xml (EX-101.DEF) — 116KB
• jrvs_10q_htm.xml (XML) — 412KB

: Financial Information

Part I: Financial Information Item 1.

Financial Statements

Financial Statements F-1 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 4 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 9 Item 4.

Controls and Procedures

Controls and Procedures 9

: Other Information

Part II: Other Information Item 1.

Legal Proceedings

Legal Proceedings 10 Item 6. Exhibits 11 2 Table of Contents

FORWARD LOOKING STATEMENTS

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, 2023, 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 da

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements My City Builders, Inc. Index to Unaudited Interim Condensed Consolidated Financial Statements January 31, 2024 Page Consolidated Balance Sheets as of January 31, 2024, and July 31, 2023 (Unaudited) F-2 Consolidated Statements of Operations for the six months ended January 31, 2024, and 2023 (Unaudited) F-3 Consolidated Statements of Changes in Stockholders' Equity (Deficit) for the six months ended January 31, 2024, and 2023 (Unaudited) F-4 Consolidated Statements of Cash Flows for the six months ended January 31, 2024, and 2023 (Unaudited) F-5 Notes to Unaudited Condensed Consolidated Financial Statements F-6 F-1 Table of Contents My City Builders, Inc. Consolidated Balance Sheets (Unaudited) January 31, July 31, 2024 2023 ASSETS Current Assets Cash $ 33,406 $ 151,718 Prepaid expenses 24,858 34,858 Loan receivable 228,570 228,570 Accrued interest income 2,851 3,116 Total Current Assets 289,685 418,262 Property and equipment, net 1,264,560 884,276 Investment - 947,500 TOTAL ASSETS $ 1,554,245 $ 2,250,038 LIABILITIES AND EQUITY (DEFICIT) Current Liabilities Accounts payable and accrued liabilities $ 240,463 $ 237,888 Deferred rent income 170 - Due to related parties 505,000 3,726,222 Loans payable -current portion, net 50,410 - Total Current Liabilities 796,043 3,964,110 Loans payable-related party 500,000 - Loans payable, net 215,587 - TOTAL LIABILITIES 1,511,360 3,964,110 Equity (Deficit) 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 586,686 shares issued and outstanding at January 31, 2024 and July 31, 2023, respectively 11,987 587 Additional paid in capital 3,169,714 331,114 Accumulated deficit ( 3,13

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View this 10-Q filing on SEC EDGAR