Company: IMG
Filing Date: 2025-11-18
Form Type: 10-Q/A
Source: 0001493152-25-024063
Chunk: 14

Company: CIMG Inc.
Filing Date: 2025-11-18
Form: 10-Q/A
Chunk 14
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----|:--|---------:|:----|:--|----------:|
| Prepaid        
 expenses       |     | $ |  150,702 |     | $ |   197,217 |
| Other          
 current assets |     |   |  140,460 |     |   |   185,431 |
| Total          |     | $ |  291,162 |     | $ |   382,648 |

The Prepaid expenses and other current assets balance of $ 291,162as of December 31, 2024 primarily consists of prepaid rent, a retainer for professional services.

Inventories, net

Inventories, net, consisting principally of raw materials, work in process and finished goods held for production and sale, is stated at the lower cost or net realizable value, cost being determined using the weighted average cost method. The Company reviews inventory levels at least quarterly and records a valuation allowance when appropriate. On December 31, 2024, the carrying value of inventory of $ 4,608,307.

SCHEDULE OF INVENTORY

|           |     |   | December 31, 
         2024 |     |   | September 
       30, 
      2024 |
|:----------|:----|:--|-------------:|:----|:--|----------:|
| Raw       
 materials |     | $ |    4,540,113 |     | $ | 4,490,728 |
| Finished  
 goods     |     | $ |       68,194 |     | $ |    57,307 |
| Total     |     | $ |    4,608,307 |     | $ | 4,548,035 |

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 three months ended December 31, 2024 and 2023 was $ 271and $ 32,480, respectively. Property and equipment as of December 31,2024 and September 30, 2024 consist of:

SCHEDULE OF PROPERTY AND EQUIPMENT

|                            |     |   | December 31, 
         2024 |   |     |   | September 30, 
          2024 |   |
|: