Company: IMG
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001493152-25-020586
Chunk: 61

Company: CIMG Inc.
Filing Date: 2025-11-03
Form: 10-Q
Item: Item 8
Chunk 61
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     - 
  
    Outstanding on June 30, 2025 
     -  
     -  
     -  
    $- 

    Exercisable on June 30, 2025 
     -  
    $-  
     -  
    $- 

The
Company is expensing these stock option awards on a straight-line basis over the requisite service period. The Company recognized stock
option expense of $0 and $10,823 for nine months ended June 30 2025, and 2024, respectively. Unamortized option expense as of June 30,
2025, for all outstanding options amounted to $0. These costs are expected to be recognized over a weighted-average period of 0 year.

Warrants

On
October 18, 2024, the holders of warrants issued by the Company exercised its cashless option to purchase an aggregate of 55,973 shares
of the Company’s common stock pursuant to warrants issued by the Company. Such warrants were previously issued pursuant to the
convertible note and warrant purchase agreement dated April 27, 2024, as disclosed in the current report of the Company on Form 8-K filed
with the SEC on May 2, 2024. In connection with such cashless exercise, the Company will not receive any cash proceeds. The shares of
common stock issuable upon exercise of such warrants were registered under the Form S-1 effective on July 1, 2024.

On
January 16, 2025, the Company issued the 13,679,486 warrants to purchase common stock at an exercise price of $0.39 a share. These warrants
are expired on January 16, 2027.

    20

On
January 17, 2025, the Company issued the 11,961,537 warrants to purchase common stock at an exercise price of $0.39 a share. These warrants
are expired on January 17, 2027.

The
following table summarizes warrant activity for nine months ended June 30, 2025:

 SCHEDULE OF WARRANT ACTIVITY

    Number
                                            of Shares Issuable Upon Exercise
                                            of Warrants  
    Weighted
                                            Average Exercise Price  
    Weighted Average Remaining
                                            Contractual Life (years)  
    Aggregate Intrinsic Value 
  
    Outstanding on September 30, 2024 
     214