DISCONTINUED OPERATIONS (Tables)
|
6 Months Ended |
Jan. 31, 2026 |
|---|
| DISCONTINUED OPERATIONS |
|
| Schedule of share purchase agreement and the amounts of the assets acquired and liabilities assumed at the share purchase agreement |
| | January 31, | | | | 2025 | | Cash | | $ | 14,979 | | Prepaid expenses | | | 6,218 | | Accounts receivable | | | 1,124 | | Homes inventory for sales | | | 1,875,367 | | Total current assets from discontinued operations | | | 1,897,688 | | | | | | | Property and equipment, net | | | 2,067,841 | | Total assets from discontinued operations | | $ | 3,965,529 | | | | | | | Accounts payable and accrued liabilities | | | 50,212 | | Loan payable - current portion | | | 25,000 | | Due to My City Builders, Inc. | | | 3,956,204 | | Bank borrowings - current portion, net | | | 432,204 | | Total current liabilities from discontinued operations | | | 4,463,620 | | | | | | | Bank borrowings, net | | | 710,558 | | Loan payable | | | 25,000 | | Total liabilities from discontinued operations | | $ | 5,199,178 | |
|
| Schedule of discontinued operations |
| | Three Months Ended | | | Six Months Ended | | | | January 31, | | | January 31, | | | | 2025 | | | 2025 | | Revenues | | | | | | | Rental income | | $ | 29,743 | | | $ | 55,271 | | Total revenues from discontinued operations | | | 29,743 | | | | 55,271 | | Operating expenses: | | | | | | | | | Cost of rental homes | | | 6,256 | | | | 12,849 | | Depreciation | | | 17,415 | | | | 32,366 | | General and administrative | | | 14,027 | | | | 21,238 | | Professional fees | | | - | | | | 13,520 | | Total operating expenses from discontinued operations | | $ | 37,698 | | | $ | 79,973 | | | | | | | | | | | Loss from discontinued operations | | | (7,955 | ) | | | (24,702 | ) | | | | | | | | | | Other income and expense: | | | | | | | | | Interest expense | | | (29,774 | ) | | | (49,695 | ) | Total other expenses from discontinued operations | | $ | (29,774 | ) | | $ | (49,695 | ) | | | | | | | | | | Loss before income taxes | | | (37,729 | ) | | | (74,397 | ) | | | | | | | | | | Income taxes | | | - | | | | - | | Loss from discontinued operation, net of tax | | $ | (37,729 | ) | | $ | (74,397 | ) |
|
| Schedule of discontinued cash flows |
| | Six Months Ended | | | | January 31, | | | | 2025 | | Cash Flows from Discontinued Operating Activities: | | | | Net (loss) income | | $ | (74,397 | ) | Adjustments to reconcile net loss to net cash used in discontinued operating activities: | | | | | Depreciation | | | 32,366 | | Amortization of debt discount | | | 1,489 | | Prepaid expenses | | | (6,218 | ) | Accounts receivable | | | 1,483 | | Accounts payable and accrued liabilities | | | (12,226 | ) | Homes inventory cost for sales | | | (262,362 | ) | Due to related parties | | | (141,825 | ) | Net cash used in discontinued operating activities | | | (461,690 | ) | | | | | | Cash Flows from Discontinued Investing Activities: | | | | | Payments for construction | | | (254,015 | ) | Purchases of property and equipment | | | (13,000 | ) | Net cash used in discontinued investing activities | | | (267,015 | ) | | | | | | Cash Flows from Discontinued Financing Activities: | | | | | Proceeds from bank borrowing | | | 102,534 | | Repayment of bank borrowing | | | (4,567 | ) | Repayment of loans payable - related party | | | (28,500 | ) | Advances from related parties | | | 835,000 | | Repayments to related parties | | | (178,478 | ) | Net cash provided by discontinued financing activities | | | 725,989 | | | | | | | Net change in cash | | | (2,716 | ) | Cash, beginning of period | | | 17,695 | | Cash, end of period | | $ | 14,979 | | | | | | | Supplemental cash flow information | | | | | Cash paid for interest | | $ | 52,553 | | Cash paid for taxes | | $ | - | | | | | | | Supplemental disclosure of non-cash financing activity | | | | | Common stock issued for settlement of debt-related party | | $ | 1,716,000 | |
|