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SUBSEQUENT EVENTS
9 Months Ended
Apr. 30, 2025
SUBSEQUENT EVENTS  
SUBSEQUENT EVENTS

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

 

The Company sold the following homes:

 

Category 

 

 Property 

 

 Date 

 

 Sales 

 

 

 Payoff loan 

 

Fixed assets

 

 604 Blythe 

 

6/5/2025

 

$191,000

 

 

$128,758

 

Inventory for sale

 

 526 Spring Garden -Toledo 

 

5/9/2025

 

$106,000

 

 

$-

 

Inventory for sale

 

 340 Cooledge -Wadley 

 

8/5/2025

 

$138,000

 

 

$-

 

Inventory for sale

 

 653 Fair Rd -Sidney 

 

6/2/2025

 

$169,000

 

 

$-

 

 

On July 8, 2025, the Company and RAC Merger LLC (“RAC Merger”) entered into a share purchase agreement in order to sell 100% issued and outstanding shares of RAC Real Estate Acquisition Corp., to RAC Merger for a total purchase amount of $2,374,896. At the time of the transaction, RAC Merger owned 98.5% of the total issued and outstanding shares of the Company. Therefore, in lieu of any cash distribution to RAC Merger as a shareholder of the Company, RAC Merger agreed that its 98.5% interest in the total purchase amount as a shareholder of the Company was satisfied by the assignment of the 100% issued and outstanding shares of RAC Real Estate Acquisition Corp. The remaining shareholders of the Company, which comprised 1.5% of the Company’s issued and outstanding shares as of the date of the transaction, received a cash distribution in the total amount of $35,623.44, which equals 1.5% of the total purchase amount.