Company: IMG
Filing Date: 2025-11-18
Form Type: 10-Q/A
Source: 0001493152-25-024067
Chunk: 11

Company: CIMG Inc.
Filing Date: 2025-11-18
Form: 10-Q/A
Chunk 11
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 has a monthly base rent of $ 2,514through March 31, 2025.

The Company leased a new larger office and manufacturing space in Seoul, Korea beginning November 15, 2021, through November 15, 2023. The lease has a monthly expense of $ 7,040. Accordingly, we have added ROU Assets and Lease Liabilities related to those leases as of September 30, 2023.

Effective September 1, 2024, we have leased a principal office space located at 16097 Poppyseed Cir, Unit 1904, Delray Beach, Florida, 33484, which we lease for $ 3,500per month until August 31, 2025.

The lease in San On Street, Tuen Mun, Hong Kong has a term of 12 months from December 18, 2024 to December 17, 2025 at a rate of RMB 4,167($ 594) per month. The lease is a short-term lease which has a lease term of 12 months and does not include an option to purchase the underlying asset. The Company did not recognize ROU assets or lease liabilities for short term leases.

| 9 |

As of March 31, 2025, the Company’s operating leases had a weighted average remaining lease term of 1year and a weighted-average discount rate of 5% or 7.5%. Other information related to our operating leases is as follows:

SCHEDULE OF OTHER INFORMATION RELATED TO OPERATING LEASE

| ROU Asset – October 1, 2024             |     | $ |  99,746 |   |
| ROU Asset added during the period       |     |   |       - |   |
| Amortization during the                 
 period                                  |     |   | (83,300 | ) |
| ROU Asset – March 31, 2025              |     | $ |  16,446 |   |
| Lease Liability – October 1, 2024       |     | $ | 100,962 |   |
| Lease Liability added during the period |     |   |       - |   |
| Amortization during the                 
 period                                  |     |   | (86,388 | ) |
| Lease Liability – March 31, 2025        |     | $ |  14,574 |   |
| Lease Liability – Short-Term            |     | $ |