Company: IMG
Filing Date: 2025-11-18
Form Type: 10-Q/A
Source: 0001493152-25-024063
Chunk: 37

Company: CIMG Inc.
Filing Date: 2025-11-18
Form: 10-Q/A
Chunk 37
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 our ability to generate a sufficient amount of revenues from the sale of our maca series products to fund our business operations and the timing and amount of funds received upon the exercise for cash of outstanding warrants by the warrant holders. Until we can generate a sufficient amount of revenue, we may seek to raise additional funds through equity, equity-linked or debt financings. If we raise additional funds through the incurrence of indebtedness, such indebtedness would have rights that are senior to holders of our equity securities and could contain covenants that restrict our operations. Any additional equity financing may be dilutive to our stockholders.

While we believe our plans to raise additional funds will alleviate the conditions that raise substantial doubt about our ability to continue as a going concern, these plans are not entirely within our control and cannot be assessed as being probable of occurring at this time. If we are unable to raise additional funds when needed, our operations and ability to execute our business strategy could be adversely affected.

If we are unsuccessful in our efforts to raise additional capital, based on our current and expected levels of operating expenses, our current capital is not expected to be sufficient to fund our operations for the next twelve months. These conditions raise substantial doubt about our ability to continue as a going concern.

Contractual Obligations

Our significant contractual cash requirements as of December 31, 2024, include payments for operating and finance lease liabilities. Additionally, we may incur purchase obligations in the ordinary course of business that are enforceable and legally binding and enter into enforceable agreements to purchase goods or services that specify all significant terms, including fixed or minimum quantities to be purchased and fixed or estimated prices to be paid at the time of settlement. As of December 31, 2024, we had payments for lease obligations of approximately $42,659. We had no purchase obligations as of December 31, 2024.

Summary of Cash Flows

|                                                           |     | Three Months Ended 
 December 31,       |       2024 |   |     |   |       2023 |   |
|:----------------------------------------------------------|:----|:-------------------|-----------:|:--|:----|:--|-----------:|:--|
| Cash used in operating activities                         |     | $                  | (1,338,781 | ) |     | $ | (2,193,439 | ) |
| Cash used in investing activities                         |     | $                  |          - |   |     | $ |   (307,044 |