Company: IMG
Filing Date: 2025-11-18
Form Type: 10-Q/A
Source: 0001493152-25-024063
Chunk: 21

Company: CIMG Inc.
Filing Date: 2025-11-18
Form: 10-Q/A
Chunk 21
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 -            |     |   |            - |   |
| Loss                                           
 from discontinued operation after tax          |     |   | -            |     |   |     (122,404 | ) |
| Losses                                         
 from asset disposal of discontinued operations |     | $ | -            |     | $ |     (122,404 | ) |

7. INTANGIBLE ASSETS

Identifiable life intangible assets

As of December 31,2024, the net intangible assets of the company is $ 72,500which is being amortized over five years from the date of acquisition at a rate of $ 30,000per year.

Amortization expense was $ 7,500and $ 7,500for three months ended December 31, 2024 and 2023.

Amortization expense for the next four fiscal years is as follows:

SCHEDULE OF AMORTIZATION EXPENSE

|       |     | Tradename    
 Amortization |        |
| 2025  |     |              | 22,500 |
| 2026  |     |              | 30,000 |
| 2027  |     |              | 20,000 |
| 2028  |     |              |      - |
| Grand 
 Total |     | $            | 72,500 |

| 18 |

8. ISSUANCE OF EQUITY SECURITIES

On August 20, 2024, the Company entered into a convertible
note purchase agreement (the “Purchase Agreement”) with certain investors (the “August Notes Investors”) to issue
and sell convertible notes in the aggregate principal amount of $1,300,000 (the “August Notes”). The Notes bear interest at
an annual rate of 7% and have a maturity date of one year from the issuance date. The Notes shall not be converted until the Company obtains
shareholder approval for the issuance of shares underlying the Notes. Upon obtaining such approval, the holder may convert the Notes into
a number of shares of Common Stock equal to (i) the outstanding principal amount of the Notes, plus any accrued but unpaid interest, divided
by (ii) $0.94, the conversion price. Any conversion of the Notes resulting in a fractional share shall be rounded down to the nearest
whole share.

On October 31, 2024, all the August 2024 Notes Investors converted their August Notes to shares of Common Stock. As a result of such