Company: IMG
Filing Date: 2025-07-21
Form Type: 10-K
Source: 0001641172-25-020300
Chunk: 280

Company: CIMG Inc.
Filing Date: 2025-07-21
Form: 10-K
Item: Item 1
Chunk 280
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 will expire ten years from the grant
date, unless terminated earlier as provided by the option agreements. 

    F-16

The fair value
of each option award was estimated on the date of grant using the Black-Scholes option valuation model using the assumptions noted as
follows: expected volatility was based on the volatility of a peer group of companies. The expected term of options granted was determined
using the simplified method under SAB 107 which represents the mid-point between the vesting term and the contractual term. The risk-free
rate is calculated using the U.S. Treasury yield curve and is based on the expected term of the option.

The Black-Scholes option pricing model was used with
the following weighted-average assumptions for options granted during the year ended September 30, 2024 and 2023, respectively:

SCHEDULE OF WEIGHTED AVERAGE ASSUMPTIONS FOR FAIR VALUE MEASUREMENT OF OPTIONS GRANTED 

    For employees 
    September 30, 2024  
    September 30, 2023 
  
    Risk-free interest rate 
     0% 
     4.39%
  
    Expected option life 
     0.00  
     6 years 
  
    Expected volatility 
     0% 
     68.60%
  
    Expected dividend yield 
     0.00% 
     0.00%
  
    Exercise price 
    $-  
    $8.15 

The Company is expensing these stock option awards
on a straight-line basis over the requisite service period.

Due to forfeitures exceeded previously recognized expense, and the company reversed prior costs. So
the Company recognized stock option expense of $(62,308) for the years ended September 30, 2024 

The Company recognized stock option expense of
$288,030
for the years ended September 30, 2023.

Unamortized option expense as of September 30, 2024, for all outstanding
options amounted to $nil.
These costs are expected to be recognized over a weighted-average period of 0
year.

During the year ended September 30, 2024, 76,028 stock
options were forfeited or expired because of termination of employment, expiration of options and performance conditions not met.

The following table summarizes stock option activity
for the year ended September 30, 2024.

SCHEDULE OF STOCK OPTION ACTIVITY 

    Number of Shares