Company: IMG
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001493152-25-020586
Chunk: 49

Company: CIMG Inc.
Filing Date: 2025-11-03
Form: 10-Q
Item: Item 8
Chunk 49
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 as of June 30, 2025 and September 30, 2024 are as follows:

SCHEDULE OF ACCOUNTS PAYABLE
AND ACCRUED EXPENSES 

    June 30,
                                                                               2025  
    September 30,
                                                                               2024 
  
    Accounts payable 
     482,000  
     1,098,582 
  
    Accrued expenses 
     1,146,598  
     1,141,755 
  
    Total 
     1,628,598  
     2,240,337 

Other
current liabilities

As
of June 30, 2025 and September 30, 2024, the other current liabilities are $567,399 and $586,173 respectively. It mainly includes the finance leasing of equipment and the payment for the goods.

Cost
Recognition

The
Maca Series products are pure plant products that we purchase maca raw materials and entrust to process. Therefore, the raw materials
comprise the procurement cost of maca, the packaging cost of goods, the freight cost of goods and so on.

Operating
expenses

For
the nine months ended June 30, 2025, the operating expenses were $3,387,725. This mainly includes personnel costs of $908,134, sales
and marketing expenses of $202,847, depreciation and amortization of $23,197, professional services such as lawyers, auditors and consultants
of $1,941,625, travel expenses of $77,892, office expenses of $196,351 and other expenses of $37,679.

For
the nine months ended June 30, 2024, the operating expenses were $4,748,076. It primarily comprised of personnel costs, selling and marketing
expenses, depreciation and amortization, insurance expenses, professional services, travel and office expenses, etc. In some cases, the
Company bears shipping costs for shipping customer orders, and shipping and handling costs are recorded under operating expenses in the
consolidated statement of operations.

    12

Other
income

For
the nine months ended June 30, 2025, the other income was $452,142. It is mainly because of the settlement and forgiveness of account
payable.

For
the nine months ended June 30, 2024, the other income was $412,580. It is mainly because of the rental income.

Other