secwatch.observer — SEC 8-K summary
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Issuer:     My City Builders, Inc. (MYCB)
CIK:        0001556801
Form:       8-K
Filed at:   2025-08-19T23:59:59+00:00
Accession:  0001640334-25-001563
Event type: other_material
Sentiment:  negative
Materiality: 0.85
Item codes: 1.01, 2.01, 3.02, 5.06, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

My City Builders sells only operating subsidiary to insiders for $2.37M, becomes shell
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- Sale of RAC Real Estate Acquisition Corp. (100% of operating business) to affiliate-owned RAC Merger, LLC for $2,374,896.
- Consideration: $35,623 cash to non-affiliate shareholders; $2,339,272 satisfied by share assignment to buyer.
- My City Builders becomes a shell company with no operations after sale.
- Transaction structured as tax-free reorganization under IRC Section 368(a)(2)(E); cash is taxable boot.
- Affiliates own 98.5% of My City Builders: Yolanda Goodell, Francis Pettilloni, Frank Gillen, Jose Gonzalez.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1556801/000164033425001563/0001640334-25-001563-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1556801/000164033425001563/jrvs_8k.htm
  HTML page:      https://secwatch.observer/filing/0001640334-25-001563

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