My City Builders Reports $94,244 Net Loss Amid Strategic Shift to Multifamily Housing Development

My City Builders, Inc. reported a net loss of $94,244 for the six months ended January 31, 2026, compared to a loss of $152,784 for the same period in the previous year. The company did not generate any revenue during this period, reflecting a strategic shift following the sale of its subsidiary, RAC Real Estate Acquisition Corp., which previously contributed to its revenue stream. Operating expenses increased to $85,747 from $77,259 year-over-year, primarily due to higher professional fees. The company’s accumulated deficit now stands at $4,987,576, and it has a working capital deficiency of $7,275.

In terms of significant changes, My City Builders has undergone a strategic transformation since the acquisition of RAC in July 2022. The company is now focused on developing multifamily housing projects, particularly on a newly acquired 4-acre property in Glencoe, Alabama, which was purchased for $350,000 through a secured promissory note. The City of Glencoe approved the rezoning of this land on December 16, 2025, allowing the company to proceed with its development plans, which include constructing up to 25 multifamily units in phases.

Operationally, the company has made progress in its development activities, including submitting plans for construction financing and engaging with contractors for the initial phase of development. As of January 31, 2026, My City Builders had cash reserves of $14,823, a significant increase from $2,189 at the end of the previous fiscal year. The company’s total current assets rose to $49,286, while total current liabilities increased to $56,561, reflecting ongoing operational costs and obligations.

Looking ahead, My City Builders is actively seeking to secure construction financing to initiate development on the Glencoe property. Management estimates that approximately $1,250,000 in equity will be needed over the next twelve months to support the project. The company’s ability to continue as a going concern is contingent upon raising additional capital and successfully launching its development activities. The reliance on related-party financing further complicates its financial outlook, as these arrangements are not formalized and may be withdrawn at any time.

In summary, My City Builders is navigating a transitional phase as it pivots towards real estate development, with a focus on multifamily housing. While the company has made strides in acquiring property and planning for development, it faces significant financial challenges and uncertainties regarding future revenue generation and operational sustainability.