Company: IMG
Filing Date: 2025-08-26
Form Type: 10-Q
Source: 0001641172-25-025514
Chunk: 0

Company: CIMG Inc.
Filing Date: 2025-08-26
Form: 10-Q
Item: Item 1
Chunk 0
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CIMG
Inc.

CONSOLIDATED
BALANCE SHEETS

(UNAUDITED)

    December
    31, 2024  
    September
    30, 2024 
  
    ASSETS 

    Current
    assets: 

    Cash
    & cash equivalent 
    $124,715  
    $464,222 
  
    Inventories,
    net 
     4,608,307  
     4,548,035 
  
    Assets
    Held for Sale-Current 
     10,736  
     10,736 
  
    Prepaid
    expenses and other current assets 
     291,162  
     382,648 
  
    Total
    current assets 
     5,034,920  
     5,405,641 

    Non-current
    assets: 

    Property
    and equipment, net 
     1,997  
     2,268 
  
    Right-of-use
    asset - operating lease 
     58,397  
     99,746 
  
    Intangible
    assets, net 
     72,500  
     80,000 
  
    Total
    non current liabilities 
     132,894  
     182,014 

    Total
    assets 
    $5,167,814  
    $5,587,655 

    LIABILITIES
    AND STOCKHOLDERS’ EQUITY 

    Current
    liabilities: 

    Accounts
    payable and accrued expenses 
    $1,820,200  
    $2,240,337 
  
    Short
    term loan 
     433,512  
     1,920,507 
  
    Current
    portion of lease liability - operating lease 
     58,303  
     100,962 
  
    Convertible
    Notes 
     678,308  
     1,063,624 
  
    Convertible
    Note-related party 
     -   
     319,220 
  
    Convertible
    Note 
     -   
     319,220 
  
    Other
    payables-related party 
     18,000  
     7,500 
  
    Other
    current liabilities 
     631,921  
     586,173