Company: IMG
Filing Date: 2025-09-24
Form Type: 10-Q
Source: 0001493152-25-014748
Chunk: 26

Company: CIMG Inc.
Filing Date: 2025-09-24
Form: 10-Q
Item: Item 1
Chunk 26
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 Months
    
    Ended  
    Three Months
    
    Ended 

    March
    31, 2025  
    March
    31, 2024 
  
    Revenue 
    $-  
    $282,355 
  
    Cost of revenue 
     -  
     (272,079)
  
    Gross profit 
     -  
     10,276 

    Operating
    expenses 
     -  
     (197,459)
  
    Operations Loss 
     -  
     (187,183)

    Other revenue 
     -  
     3,764 
  
    Other expense 
     -  
     (25,267)
  
    Loss
    from discontinued operations before income tax 
     -  
     (208,686)

    Loss from discontinued operation
    after tax 
     -  
     (208,686)

    Losses
    from asset disposal of discontinued operations 
    $-  
    $(208,686)

7.
INTANGIBLE ASSETS

Identifiable
life intangible assets

As
of March 31, 2025, the Company’s intangible assets consisted of unamortized tradename asset of $65,000 which is being amortized
over five years from the date of acquisition at a rate of $30,000 per year.

Amortization
expense was $15,000 and $15,000 for six months ended March 31, 2025 and 2024.

Amortization
expense for the next four fiscal years is as follows:

SCHEDULE
OF AMORTIZATION
EXPENSE 

    Tradename
    Amortization

    March 31, 2025 
     
    15,000

    2025 
     
    30,000

    2026 
     
    20,000

    2027 
     
    -

    Grand Total 
     
    65,000

8.
ISSUANCE OF EQUITY SECURITIES

On
December 12, 2024, CIMG Inc., entered into a convertible note and warrant purchase agreement with certain non U.S. investors (“Notes
Investors”), providing for the private placement of convertible promissory notes in the aggregate principal amount of $10,000,000
(the “Notes”) and warrants (the “Warrants”) to