Company: IMG
Filing Date: 2025-09-24
Form Type: 10-Q
Source: 0001493152-25-014748
Chunk: 4

Company: CIMG Inc.
Filing Date: 2025-09-24
Form: 10-Q
Item: Item 1
Chunk 4
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,921,805) 
    $(3,471,452)
  
    Losses caused by the termination
    of business 
     -  
     (331,090)
  
    Adjustments to reconcile
    net loss to net cash used in operating activities: 

    Depreciation and amortization 
     15,444  
     102,256 
  
    Noncash lease expense 
     83,300  
     131,607 
  
    Stock option expense 
     -  
     65,948 
  
    Common stock compensation 
     523,680  
     - 
  
    Loss from equity method
    investment 
     -  
     2,123 
  
    Loss on acquisition 
     20,164  
     - 
  
    Change in operating assets
    and liabilities: 

    Accounts receivable 
     (71,034) 
     151,088 
  
    Inventories 
     (8,147,696) 
     (243,298)
  
    Prepaid expenses and other
    current assets 
     206,027  
     68,288 
  
    Other assets 
     -  
     4,707 
  
    Accounts payable 
     (783,038) 
     822,047 
  
    Deferred income 
     -  
     (74,363)
  
    Lease liability –
    operating lease 
     (86,388) 
     (187,575)
  
    Accrued expenses and other
    current liabilities 
     (132,988) 
     (55,342)
  
    Other
    non-current liabilities 
     -  
     73,997 
  
    Net
    cash used in operating activities 
     (10,294,334) 
     (2,609,969)

    Discontinued Operations: 

    Interest income(expense),
    net 
     -  
     170 
  
    Depreciation from discontinued
    operations 
     -  
     5,933 
  
    Changes in operating assets
    and liabilities 
     -  
     327,972 
  
    Cash flows generated from
    discontinued business operations 
     -  
     2,985 

    Investing activities: 

    Purchase of equipment