Company: IMG
Filing Date: 2025-07-21
Form Type: 10-K
Source: 0001641172-25-020300
Chunk: 529

Company: CIMG Inc.
Filing Date: 2025-07-21
Form: 10-K
Item: Item 3
Chunk 529
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 ended September 30, 2023 
  
    Raw materials 
     798,510  
                  - 
  
    Finished goods 
     16,988  
     - 
  
    Total 
    $815,498  
    $- 

Property and Equipment, net

Property and equipment are stated at cost, net
of accumulated depreciation. Office equipment is depreciated over a 3-year
life, furniture over a 7-year
life, and other equipment over a 5-year
life. Depreciation expense for the years ended September 30, 2024 and 2023 was $160,548
and $184,488,
respectively. Property and equipment as of September 30, 2024 and 2023 consist of: 

SCHEDULE OF PROPERTY AND EQUIPMENT

    September 30. 2024  
    September 30, 2023 
  
    Machinery & Equipment 
    $1,465,566  
    $1,145,723 
  
    Vehicles 
     57,431  
     57,431 
  
    Leasehold Improvements 
     -  
     - 
  
    Less - Accumulated Depreciation 
     (1,127,820) 
     (1,018,391)
  
    Subtotal 
     395,177  
     184,763 
  
    Less-Non-Current Assets Held for Sale 
     (214,709) 
     - 

    Disposal of property and equipment 
     (178,200) 
     - 

    Property and Equipment, net 
    2,268  
    184,763 

Samples

The Company distributes samples of its products as
a component of its marketing program. Costs for samples are expensed at the time the samples are produced and recorded under operating
expenses in the consolidated statements of operations.

    F-11

Long-Lived Assets

The Company tests long-lived assets or asset groups
for recoverability when events or changes in circumstances indicated that their carrying amount may not be recoverable. Circumstances
which could trigger a review include, but are not limited to: significant decreases in the market price of the asset; significant adverse
changes in the business climate or legal factors; accumulation of costs significantly in excess of the amount originally expected for
the acquisition or construction of the asset; current period cash