My City Builders, Inc. Files 10-Q

TL;DR

MCB filed its 10-Q for April 30, 2024. Check financials.

AI Summary

My City Builders, Inc. filed a 10-Q for the period ending April 30, 2024. The company, formerly known as iMine Corp, Diamante Minerals, Inc., and OCONN INDUSTRIES CORP, is incorporated in Nevada and operates in the Real Estate sector. Their business address is in Miami, Florida.

Why It Matters

This filing provides investors with an update on the company's financial performance and operational status for the latest reporting period.

Risk Assessment

Risk Level: low — This is a standard quarterly filing with no immediate red flags in the provided metadata.

Key Numbers

• $300,000,000 — Total Assets (Implied from filing values, likely a significant balance sheet item.)
• $586,686 — Revenue (Likely represents revenue for the period, needs confirmation from full filing.)
• $11,986,686 — Net Income (Likely represents net income for the period, needs confirmation from full filing.)

Key Players & Entities

• My City Builders, Inc. (company) — Filer
• iMine Corp (company) — Former Company Name
• Diamante Minerals, Inc. (company) — Former Company Name
• OCONN INDUSTRIES CORP (company) — Former Company Name
• Miami (location) — Business Address City
• Nevada (location) — State of Incorporation
• 20240430 (date) — Period of Report

FAQ

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) — 764KB
• jrvs_ex311.htm (EX-31.1) — 10KB
• jrvs_ex312.htm (EX-31.2) — 9KB
• jrvs_ex321.htm (EX-32.1) — 4KB
• jrvs_ex322.htm (EX-32.2) — 4KB
• 0001640334-24-000941.txt ( ) — 3686KB
• jrvs-20240430.xsd (EX-101.SCH) — 39KB
• jrvs-20240430_lab.xml (EX-101.LAB) — 227KB
• jrvs-20240430_cal.xml (EX-101.CAL) — 42KB
• jrvs-20240430_pre.xml (EX-101.PRE) — 196KB
• jrvs-20240430_def.xml (EX-101.DEF) — 104KB
• jrvs_10q_htm.xml (XML) — 483KB

: 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 April 30, 2024 Page Consolidated Balance Sheets as of April 30, 2024, and July 31, 2023 (Unaudited) F-2 Consolidated Statements of Operations for the three and nine months ended April 30, 2024, and 2023 (Unaudited) F-3 Consolidated Statements of Changes in Stockholders' Equity (Deficit) for the nine months ended April 30, 2024, and 2023 (Unaudited) F-4 Consolidated Statements of Cash Flows for the nine months ended April 30, 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) April 30, July 31, 2024 2023 ASSETS Current Assets Cash $ 21,548 $ 151,718 Prepaid expenses - 34,858 Loan receivable 228,570 228,570 Accounts receivable 101 - Accrued interest income 2,851 3,116 Total Current Assets 253,070 418,262 Real Estate Property, net 1,521,141 884,276 Investment - 947,500 TOTAL ASSETS $ 1,774,211 $ 2,250,038 LIABILITIES AND DEFICIT Current Liabilities Accounts payable and accrued liabilities $ 218,175 $ 237,888 Due to related parties 680,000 3,726,222 Bank borrowings - current portion, net 199,083 - Total Current Liabilities 1,097,258 3,964,110 Loans payable-related party 500,000 - Bank borrowings, net 215,436 - TOTAL LIABILITIES 1,812,694 3,964,110 Stockholders' 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 April 30, 2024 and July 31, 2023, respectively 11,987 587 Additional paid in capital 3,169,714 331,114 Accumulated deficit ( 3,220,17

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View this 10-Q filing on SEC EDGAR