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DISCOUNTINUED OPERATIONS (Tables)
 12 Months Ended
Jul. 31, 2025
DISCOUNTINUED OPERATIONS  
Schedule of share purchase agreement and the amounts of the assets acquired and liabilities assumed at the share purchase agreement

Consideration:

 

 

 

Aggregate sales price

 

$2,374,896

 

 

 

 

 

 

Assets sold and liabilities assumed:

 

 

 

 

Cash at bank

 

$9,639

 

Homes inventory for sales

 

 

1,743,597

 

Properties and equipment

 

 

2,271,245

 

Other receivable

 

 

16,376

 

Total assets

 

$4,040,857

 

 

 

 

 

 

Bank borrowings

 

$1,231,712

 

Loan payable

 

 

50,000

 

Due to related parties

 

 

118,910

 

Accounts payable and accrued liabilities

 

 

34,609

 

Total liabilities

 

$1,435,231

 

 

 

 

 

 

Net assets

 

$2,605,626

 

 

 

 

 

 

Loss on sale of subsidiaries

 

$(230,730)
Schedule of discontinued operations

 

 

July 8,

 

 

July 31,

 

 

 

2025

 

 

2024

 

Cash

 

$9,639

 

 

$17,695

 

Prepaid expenses

 

 

5,743

 

 

 

-

 

Accounts receivable

 

 

10,633

 

 

 

2,607

 

Homes inventory for sales

 

 

1,743,597

 

 

 

1,613,004

 

Total current assets from discontinued operations

 

 

1,769,612

 

 

 

1,633,306

 

 

 

 

 

 

 

 

 

 

Property and equipment

 

 

2,271,245

 

 

 

1,833,192

 

Total assets from discontinued operations

 

$4,040,857

 

 

$3,466,498

 

 

 

 

 

 

 

 

 

 

Accounts payable and accrued liabilities

 

 

33,609

 

 

 

62,437

 

Rent deposit payable

 

 

1,000

 

 

 

-

 

Loan payable - current portion

 

 

25,000

 

 

 

25,000

 

Due to My City Builders, Inc.

 

 

3,927,391

 

 

 

2,382,029

 

Loans payable, related party

 

 

-

 

 

 

28,500

 

Due to related parties

 

 

118,910

 

 

 

1,059,478

 

Bank borrowings - current portion, net

 

 

90,830

 

 

 

332,589

 

Total current liabilities from discontinued operations

 

 

4,196,740

 

 

 

3,890,033

 

 

 

 

 

 

 

 

 

 

Bank borrowings, net

 

 

1,140,882

 

 

 

710,717

 

Loan payable

 

 

25,000

 

 

 

25,000

 

Total liabilities from discontinued operations

 

$5,362,622

 

 

$4,625,750

 

 

 

July 8,

 

 

July 31,

 

 

 

2025

 

 

2024

 

Revenues

 

 

 

 

 

 

Sales inventory homes

 

$269,930

 

 

$-

 

Rental income

 

 

121,624

 

 

 

59,300

 

Total revenues from discontinued operations

 

 

391,554

 

 

 

59,300

 

Operating expenses:

 

 

 

 

 

 

 

 

Cost of sold -inventory home

 

 

294,136

 

 

 

-

 

Cost of rental homes

 

 

31,131

 

 

 

13,971

 

Depreciation

 

 

64,181

 

 

 

31,985

 

General and administrative

 

 

53,626

 

 

 

55,398

 

Professional fees

 

 

26,051

 

 

 

76,912

 

Total operating expenses from discontinued operations

 

$469,125

 

 

$178,266

 

 

 

 

 

 

 

 

 

 

Loss from discontinued operations

 

 

(77,571)

 

 

(118,966)

 

 

 

 

 

 

 

 

 

Other income and expense:

 

 

 

 

 

 

 

 

Impairment loss on investment

 

 

-

 

 

 

(947,500)

Interest expense - related party

 

 

2,351

 

 

 

(27,795)

Interest expense

 

 

(100,891)

 

 

(19,279)

Gain on sales of property

 

 

17,793

 

 

 

-

 

Bad debt-rental tenant

 

 

(4,195)

 

 

-

 

Nonmonetary gain

 

 

-

 

 

 

1,298,696

 

Total other (loss) income from discontinued operations

 

$(84,942)

 

$304,122

 

 

 

 

 

 

 

 

 

 

(Loss) Income before income taxes

 

 

(162,513)

 

 

185,156

 

 

 

 

 

 

 

 

 

 

Income taxes

 

 

-

 

 

 

-

 

(Loss) Income from discontinued operation

 

$(162,513)

 

$185,156

 

 

 

 

 

 

 

 

 

 

Loss on sale of subsidiaries

 

 

(230,730)

 

 

-

 

(Loss) Income from discontinued operation, net of tax

 

$(393,243)

 

$185,156

 
Schedule of discontinued cash flows

 

 

July 8,

 

 

July 31,

 

 

 

2025

 

 

2024

 

 

 

 

 

 

 

 

CASH FLOWS FROM OPERATING ACTIVITIES FOR DISCONTINUED OPERATIONS:

 

 

 

 

 

 

Net (loss) income

 

$(162,513)

 

$185,156

 

Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:

 

 

 

 

 

 

 

 

Depreciation

 

 

64,181

 

 

 

31,985

 

Amortization of debt discount

 

 

9,561

 

 

 

2,203

 

Impairment loss on investment

 

 

-

 

 

 

947,500

 

Nonmonetary gain on lawsuit settlement

 

 

-

 

 

 

(1,298,696)

Bad debts -rental tenant

 

 

4,195

 

 

 

-

 

Gain on sales of property

 

 

(17,793)

 

 

-

 

Changes in operating assets and liabilities:

 

 

 

 

 

 

 

 

Prepaid expenses

 

 

(5,743)

 

 

10,000

 

Accounts receivable

 

 

(12,221)

 

 

(2,607)

Accrued interest income

 

 

-

 

 

 

265

 

Accounts payable and accrued liabilities

 

 

(28,828)

 

 

(127,022)

Rent deposit payable

 

 

1,000

 

 

 

-

 

Homes inventory cost for sales

 

 

(233,357)

 

 

(82,888)

Accrued interest - related party

 

 

-

 

 

 

3,958

 

Due to related parties

 

 

(169,228)

 

 

(153,541)

Net cash used in operating activities for discontinued operations

 

 

(550,746)

 

 

(483,687)

 

 

 

 

 

 

 

 

 

CASH FLOWS FROM INVESTING ACTIVITIES FOR DISCONTINUED OPERATIONS:

 

 

 

 

 

 

 

 

Payments for construction

 

 

(461,680)

 

 

(930,901)

Purchases of property and equipment

 

 

(89,867)

 

 

-

 

Proceeds from sales of property

 

 

169,871

 

 

 

-

 

Net cash used in investing activities for discontinued operations

 

 

(381,676)

 

 

(930,901)

 

 

 

 

 

 

 

 

 

CASH FLOWS FROM FINANCING ACTIVITIES FOR DISCONTINUED OPERATIONS:

 

 

 

 

 

 

 

 

Proceeds from bank borrowing

 

 

696,344

 

 

 

570,165

 

Repayment of bank borrowing

 

 

(517,500)

 

 

(562)

Repayment of loans payable - related party

 

 

(28,500)

 

 

-

 

Advances from related parties

 

 

1,302,700

 

 

 

1,108,700

 

Repayments to related parties

 

 

(528,678)

 

 

(395,811)

Net cash provided by financing activities for discontinued operations

 

 

924,366

 

 

 

1,282,492

 

 

 

 

 

 

 

 

 

 

Net change in cash

 

 

(8,056)

 

 

(132,096)

Cash, beginning of period

 

 

17,695

 

 

 

149,791

 

Cash, end of period

 

$9,639

 

 

$17,695

 

 

 

 

 

 

 

 

 

 

Supplemental cash flow information

 

 

 

 

 

 

 

 

Cash paid for interest

 

$101,009

 

 

$71,671

 

Cash paid for taxes

 

$-

 

 

$-

 

 

 

 

 

 

 

 

 

 

Supplemental non-cash investing and financing activity:

 

 

 

 

 

 

 

 

Recognition of loans payable as debt discount

 

$-

 

 

$26,877

 

Issuance of loan agreements in exchange with due to related party

 

$-

 

 

$471,500

 

Common stock issued for settlement of debt

 

$1,716,000

 

 

$2,850,000

 

Assignment of debts between two related parties

 

$-

 

 

$500,000

 

Reclassified home inventory cost to property and equipment

 

$102,765

 

 

$-

 

Issuance note payable for acquisition of land

 

$-

 

 

$50,000