Company: IMG
Filing Date: 2025-07-30
Form Type: 10-K/A
Source: 0001641172-25-021542
Chunk: 77

Company: CIMG Inc.
Filing Date: 2025-07-30
Form: 10-K/A
Chunk 77
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 ended September 30, 2023, it was (10.71)%. The marginal improvement is mainly
due to the reduction in sales costs.

Operating Expenses

|           |     | Year            
 ended September 
 30,             |      2024 |     |   |      2023 |     | Change | Dollars    |   |     |     | %      |    |
|:----------|:----|:----------------|----------:|:----|:--|----------:|:----|:-------|:-----------|:--|:----|:----|:-------|:---|
| Operating 
 Expenses  |     | $               | 6,425,571 |     | $ | 8,174,200 |     | $      | (1,748,629 | ) |     |     | (21.39 | )% |

| 54 |

For the fiscal year ended September 30, 2024, our operating
expenses totaled $6,425,571 compared to $8,174,200 for the fiscal year ended September 30, 2023, a decrease of $(1,748,629), or (21.39)%.This
reduction is mainly due to the decrease in labor costs and travel expenses.

Net Loss

|          |     | Year ended September 30, |      2024 |     |   |      2023 |     | Change | Dollars  |   |     |     | %     |    |
|:---------|:----|:-------------------------|----------:|:----|:--|----------:|:----|:-------|:---------|:--|:----|:----|:------|:---|
| Net Loss |     | $                        | 8,972,735 |     | $ | 8,749,467 |     | $      | (223,268 | ) |     |     | (2.55 | )% |

For the fiscal year ended September 30, 2024, the Company reported a net loss of $8,972,735 compared to a net loss of $8,749,467 for the fiscal year ended September 30, 2023. The main reason for the reduction in net loss is the decrease in packaging services for the coffee business and the main launch of a new maca series of products.

Liquidity and Capital Resources

To date, we have funded our operations primarily with proceeds from