secwatch.observer — SEC 8-K summary
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Issuer:     My City Builders, Inc. (MYCB)
CIK:        0001556801
Form:       8-K
Filed at:   2021-11-18T23:59:59+00:00
Accession:  0001640334-21-002903
Event type: other_material
Sentiment:  neutral
Materiality: 0.80
Item codes: 1.01, 3.02, 5.01, 5.02
LLM model:  deepseek-v4-flash:cloud@v2

iMine CEO settles $643,782 debt with shares, gains 47.2% control
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- CEO Romero converted $643,782 debt (incl. $143,782 interest) into 32,189,100 shares at $0.02/sh.
- Board also authorized 3,000,000 compensation shares to Romero under 2019 employment agreement.
- Romero now owns 35,189,100 shares (47.2% of outstanding), giving him voting control.
- Prior control held by former CEO Ulansky with ~11.9% ownership; no arrangements between them.
- Shares issued under Section 4(a)(2) and Rule 506(b) exemption; no underwriting discounts paid.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1556801/000164033421002903/0001640334-21-002903-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1556801/000164033421002903/jrvs_8k.htm
  HTML page:      https://secwatch.observer/filing/0001640334-21-002903

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer