Company: IMG
Filing Date: 2025-07-21
Form Type: 10-K
Source: 0001641172-25-020300
Chunk: 388

Company: CIMG Inc.
Filing Date: 2025-07-21
Form: 10-K
Item: Item 2
Chunk 388
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 LLC on June 27, 2025 (“Nasdaq Delist Determination Letter”). According
to the Nasdaq Delist Determination Letter, unless the Company requests an appeal of this determination by July 7, 2025, trading of the
Company’s common stock will be suspended from The Nasdaq Capital Market at the opening of business on July 9, 2025, and NSADAQ will
file a Form 25-NSE with the SEC to remove the Company’s securities from listing and registration on The Nasdaq Stock Market.

The Company intends to file
its Form 10-K for the fiscal year ended September 30, 2024 as soon as possible, and in any event before July 7, 2025. In addition, the
Company intends to appeal Nasdaq’s delist determination and plans to request a hearing before a Nasdaq Hearings Panel to present
its plan for regaining compliance with the applicable Nasdaq Listing Rules by 4:00 Eastern Time on July 7, 2025.

Results
of Operations

Revenue

    Year ended September 30,  
    Change 

    2024  
    2023  
    Dollars  
    % 
  
    Revenue 
    $1,930,291  
    $1,757,968  
    $(172,323) 
     (9.80)%

In
fiscal year ended September 30, 2024, we are fully focused on our first health line in Asia, the Maca line, which includes Maca Peptide
Coffee, Maca-Noni, Maca Purified Powder and Maca Wine. All of the products from the Maca Series contain maca green purification factors,
which are green purification of maca plants and pure natural products. After that, the contract packaging service of coffee and the sales
of pure coffee beans gradually decreased, and the Maca Series products became the core products.

In
the fourth quarter of the fiscal year ended September 30, 2024, we focused on the introduction of our first health series in Asia, the
Maca Series, which includes Maca Peptide Coffee, Maca-Noni, Maca Purified Powder and Maca Wine. All of the products from the Maca Series
contains maca green purification factors, which are green purification of maca plants and pure natural products.

Cost of sales and gross margin

    Year ended September 30,