secwatch.observer — SEC 8-K summary
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Issuer:     My City Builders, Inc. (MYCB)
CIK:        0001556801
Form:       8-K
Filed at:   2022-07-28T23:59:59+00:00
Accession:  0001640334-22-001600
Event type: other_material
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

iMine subsidiary lends $672,960 at 12% secured by real estate, assigns half to third party
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- RAC Real Estate Acquisition Corp. issued $672,960 promissory note to Fix Pads Holdings, 12% interest, due July 1, 2023.
- Note secured by 7 properties valued at $1,121,600 (60% LTV) in VA, MS, FL, and AR.
- iMine funded $328,625.72; assigned 50% principal ($336,480) and half interest to investor Frank Campanaro.
- Net result: iMine acquired $336,480 secured note asset for $328,625.72 cash outflow.
- Partial assignment effective July 26, 2022; Maker acknowledged direct payment to assignee.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1556801/000164033422001600/0001640334-22-001600-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1556801/000164033422001600/jrvs_8k.htm
  HTML page:      https://secwatch.observer/filing/0001640334-22-001600

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