---
schema_version: "secwatch.filing_event.v1"
accession: "0001640334-22-001437"
form_type: "8-K"
ticker: "MYCB"
cik: "0001556801"
company_name: "My City Builders, Inc."
filed_at: "2022-07-07T23:59:59+00:00"
generated_at: "2026-06-24T19:36:13.881861+00:00"
event_type: "m_and_a"
sentiment: "negative"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# iMine Corporation acquires RAC Real Estate Acquisition Corp, issues Series A Preferred with voting control

## Summary
- iMine issued 100,000 Series A Preferred shares to acquire 100% of RAC Real Estate Acquisition Corp, which held $500,000 in cash.
- The Series A Preferred shares carry 10 votes each, giving holders approximately 63% voting control of iMine.
- Frank Gillen, a RAC shareholder receiving 33,334 Preferred shares, had prior NASD censure and fine in 2002 and a 2006 Utah Securities Division resolution.
- RAC had no operations since incorporation in May 2022, its sole asset being $500,000 cash from stock sales to founders.
- The acquisition resulted in a change of control as the three shareholders collectively control a majority of voting power.

## SEC filing metadata
- accession: 0001640334-22-001437
- form_type: 8-K
- ticker: MYCB
- cik: 0001556801
- company_name: My City Builders, Inc.
- filed_at: 2022-07-07T23:59:59+00:00
- event_type: m_and_a
- sentiment: negative
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 1.01, 2.01, 3.02, 3.03, 5.01, 5.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1556801/000164033422001437/0001640334-22-001437-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1556801/000164033422001437/jrvs_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001640334-22-001437
- JSON: https://secwatch.observer/filing/0001640334-22-001437.json
- Plain text: https://secwatch.observer/filing/0001640334-22-001437.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.