Company: IMG
Filing Date: 2025-11-18
Form Type: 10-Q/A
Source: 0001493152-25-024067
Chunk: 42

Company: CIMG Inc.
Filing Date: 2025-11-18
Form: 10-Q/A
Chunk 42
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| Effect of foreign exchange on cash                            |     | $                |    (254,555 | ) |     | $ |     50,566 |   |
| Net change in cash                                            |     | $                |    (461,818 | ) |     | $ |   (982,869 | ) |

Operating Activities

Net cash used in operating activities from continuing operations was $10,294,334 for the six months ended March 31, 2025, compared to $2,609,969 for the same period in 2024. The cash outflows were primarily related to purchases of raw materials and inventory, office rent, legal fees, and other professional expenses. Operating activities from discontinued operations provided no cash inflow and cash outflows for the six months ended March 31, 2025, compared to $2,985 of cash inflows during the corresponding period in 2024.

Investing Activities

Net cash provided by investing activities was $12,767 for the six months ended March 31, 2025, compared to net cash used of $306,241 for the same period in 2024. Cash provided during the current period was primarily related to the acquisition of subsidiaries and the disposal of equipment, while cash used in the prior-year period was mainly attributable to purchases of equipment.

Financing Activities

Historically, we have funded our operations through the issuance of our equity securities.

Net cash provided by financing activities was $10,074,304 for the six months ended March 31, 2025, primarily attributable to proceeds from private placement and issuance of common stock. For the six months ended March 31, 2024, net cash provided by financing activities totaled $1,879,790, was primarily related to the issuance of equity securities.

Off-Balance Sheet Arrangements

As of March 31, 2025, we had no off-balance sheet arrangements that may have a current or future material effect on our financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources.

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Critical Accounting Policies and Estimates

Our discussion and analysis of our financial condition and results of operations are based upon our financial statements that have been prepared in accordance with generally accepted accounting principles in the United States of America (“US GAAP”). The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, and the disclosure of contingent