secwatch.observer — SEC 8-K summary
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Issuer:     My City Builders, Inc. (MYCB)
CIK:        0001556801
Form:       8-K
Filed at:   2022-10-11T23:59:59+00:00
Accession:  0001640334-22-002196
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

iMine subsidiary forms JV with Fix Pads to develop 60 properties; commits up to $5.214M
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- RAC Real Estate Acquisition Corp., iMine's unit, and Fix Pads Holdings formed RAC FIXPADS II, LLC on Oct 4, 2022.
- Each member contributes $1,000 initial capital for 50% membership interest; Fix Pads to contribute 60 residential properties.
- RAC commits additional cash contributions up to $5,214,000 for property improvement and rehab.
- On sale of each property, RAC gets $13,000 plus average additional capital per property; balance to Fix Pads.
- Manager is Fix Pads; RAC has option to buy leased properties.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1556801/000164033422002196/0001640334-22-002196-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1556801/000164033422002196/jrvs_8k.htm
  HTML page:      https://secwatch.observer/filing/0001640334-22-002196

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