Company: IMG
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001493152-25-020586
Chunk: 33

Company: CIMG Inc.
Filing Date: 2025-11-03
Form: 10-Q
Item: Item 1
Chunk 33
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 the amended amount is imminent.

    21

11.
SUBSEQUENT EVENTS

Amendment
to Articles of Organization

At
the Company’s annual meeting of stockholders held on October 28, 2025, the Company’s stockholders approved an amendment to the Company’s Articles of Incorporation, as amended (the
“Articles of Incorporation”) to increase the number of authorized shares of common stock to 600,000,000 shares, par value $0.00001 per share. The certificate of Amendment was filed with the Nevada Secretary of State on
October 28, 2025, and became effective 11:00 am eastern standard time on October 28, 2025.

Private Placement

SCHEDULE
OF PRIVATE PLACEMENT

    Date
     
    Transaction Description
     
    Amount/Shares
     
    Status
  
    August 21, 2025

    Purchase Agreement
     
    (Form 8-K filed on August 26, 2025)
     
    $4,000,000 for 16,666,666 shares of common stocks, at a conversion price of $0.24 per shares
     
    On August 21, 2025, CIMG Inc., a Nevada corporation (the “Company”),
    entered into a convertible note purchase agreement (the “Purchase
    Agreement”) with certain non U.S. investors (the “Investors”),
    providing for the private placement of convertible promissory notes in the aggregate principal amount of $4,000,000
    (the “Notes”).
    The Notes bear interest at an annual rate of 7%
    and have a maturity date of August
    31, 2026. The Notes are convertible into shares of common stock of the Company, at a conversion price of $0.24
    per shares, subject to adjustment in accordance with the Notes.
  
    August 25, 2025

    Purchase Agreement
     
    (Form 8-K filed on August 27, 2025)

    An aggregate consideration of $55,000,000 worth of bitcoin for 220,000,000
    shares, at a purchase price of $0.25 per share.

    On August 25, 2025, CIMG Inc., a Nevada corporation (the “Company”),
    entered into a securities purchase agreement (the “Purchase Agreement”)
    with certain non U.S. investors (the “Investors