Company: IMG
Filing Date: 2025-07-30
Form Type: 10-K/A
Source: 0001641172-25-021542
Chunk: 75

Company: CIMG Inc.
Filing Date: 2025-07-30
Form: 10-K/A
Chunk 75
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-K for the year ended September 30, 2024 and received a delist determination letter from the Listing
Qualifications Department of The Nasdaq Stock Market 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, |      2024 |     |   |      2023 |     | Change | 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