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

Company: CIMG Inc.
Filing Date: 2025-11-18
Form: 10-Q/A
Chunk 10
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Six months ended March 31, 2025:

SCHEDULE OF REVENUE BY MAJOR CUSTOMERS

| Customer     
 Name         |     | Sales  
 Amount |        |     | %                
 of Total Revenue |    |   |     | Accounts          
 Receivable Amount |   |     | %                            
 of Total Accounts Receivable |   |
| Customer LXM |     |        | 13,524 |     |                  | 59 | % |     |                   | - |     |                              | - |

Six months ended March 31, 2024:

| Customer    
 Name        |     | Sales  
 Amount |         |     | %                
 of Total Revenue |    |   |     | Accounts          
 Receivable Amount |        |     | %                            
 of Total Accounts Receivable |    |   |
|:------------|:----|:-------|--------:|:----|:-----------------|---:|:--|:----|:------------------|-------:|:----|:-----------------------------|---:|:--|
| Customer CL |     | $      | 809,086 |     |                  | 63 | % |     | $                 | 39,723 |     |                              | 10 | % |

Lease

In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842), to provide guidance on recognizing lease assets and lease liabilities on the consolidated balance sheet and disclosing key information about leasing arrangements, specifically differentiating between different types of leases. The Company implemented ASU No. 2016-02 on October 1, 2019.

The Company conducts a quarterly analysis of leases to determine if there are any operating leases that require recognition under ASC 842. The Company has a long-term operating lease for office and manufacturing space in Plano, Texas. The leased property in Plano, Texas, has a remaining lease term through June 2024 and Tenancy terminated. The Company did not apply the recognition requirements of ASC 842 to operating leases with a remaining lease term of 12 months or less.

In May 2022, the Company renewed the office and manufacturing space in Vista, California through March 31, 2025, which was scheduled to expire on January 31, 2023. The lease has a monthly base rent of $ 8,451, plus common area expenses. Along with the extension, we leased an additional 1,796square feet that