Company: IMG
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001493152-25-020586
Chunk: 62

Company: CIMG Inc.
Filing Date: 2025-11-03
Form: 10-Q
Item: Item 8
Chunk 62
---
,850  
    $112.67  
     2.42  
    $          - 
  
    Issued 
     25,641,023  
     0.39  
     -  
     - 
  
    Exercised 
     55,973  
     1.32  
     -  
     - 
  
    Expired 
     1,150  
     -  
     -  
     - 
  
    Outstanding on June 30, 2025 
     25,798,750  
    $1.31  
     1.55  
     - 
  
    Exercisable on June 30, 2025 
     25,798,750  
    $1.31  
     1.55  
    $- 

10.
CONTINGENCIES

Curtin
Litigation

As
previously disclosed, on January 6, 2023, a former employee of the Company, Rosalina Curtin filed a complaint against the Company and
another former employee of the Company, Jose Ramirez, in the Superior Court of California, County of San Diego (Case No. 37-2023-00000841-CU-WT-NC)
(the “Complaint”). The Complaint alleged that Ms. Curtin was subject to harassment by Mr. Ramirez, gender discrimination
throughout her employment, that she reported this discrimination and harassment to the Company, and that the Company retaliated against
her and wrongfully terminated her for whistleblowing and failed to prevent discrimination, harassment, and retaliation. Ms. Curtin sought
compensatory damages, including loss of past, present and future earnings, and benefits, as well as punitive damages, penalties, attorney’s
fees and costs and interest. Pursuant to the terms of Ms. Curtin’s Employment Agreement with the Company, on December 22, 2023,
the Court compelled the case to arbitration with the American Arbitration Association (Case Number 01-24-0002-3225).

On
November 8, 2024, without a finding or admission of wrongdoing, the Company entered into a settlement agreement with Ms. Curtin. In exchange
for mutual general releases and a dismissal of the lawsuit with prejudice, the Company paid Ms. Curtin $125,000. On January 22, 2025,