Company: IMG
Filing Date: 2025-07-21
Form Type: 10-K
Source: 0001641172-25-020300
Chunk: 729

Company: CIMG Inc.
Filing Date: 2025-07-21
Form: 10-K
Item: Item 6
Chunk 729
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 a result of many factors currently unknown to us.

We
intend to seek to raise additional capital, including through a public or private equity offering, to support our operating activities
over the next 12 months and beyond, which may not be available to us on acceptable terms or may not be available at all. The timing and
amount of capital we need to raise will depend on a number of factors, including our ability to generate sufficient revenue from the
sale of our products to fund our business operations, and the timing and amount of funds received by warrant holders when they exercise
their outstanding warrant cash. Until we are able to generate sufficient revenue, we may seek to raise additional capital through equity,
equity-linked or debt financing.

Summary
of Cash Flows

    Year Ended September 30, 

    2024  
    2023 
  
    Cash used in operating activities 
    $(9,970,680) 
    $(6,381,560)
  
    Cash used in investing activities 
    $(320,043) 
    $(31,813)
  
    Cash provided by used in financing activities 
    $9,586,272  
    $(36,031)
  
    Effect of foreign exchange on cash 
    $312,906  
    $36,599 
  
    Cash flows generated from discontinued business operations 
    $(127,102) 
    $(866,645)
  
    Net decrease in cash 
    $(518,647) 
    $(7,279,450)

Discontinued operations

On June 7, 2024, the company’s
board of directors passed a resolution to sale (1) NuZee KOREA Ltd a company incorporated in Korea and a wholly-owned subsidiary of the
Company; and (2) NuZee Investment Co., Ltd, a company incorporated in Japan and a wholly-owned subsidiary of the Company.

During the year ended September
30, 2024 and September 30, 2023, the cash outflows arising from the cessation of business operations were $127,102 and $866,645 respectively.

Operating
Activities

We
used $9,970,680 and $6,381,560 of cash in operating activities during the years ended September 30, 2024 and 2023, the cash outflow arising from the purchase
of raw materials, finished products and the disposal of subsidiaries.

Investing
Activities

We
used $320,043  and $31,813