Company: IMG
Filing Date: 2025-07-21
Form Type: 10-K
Source: 0001641172-25-020300
Chunk: 107

Company: CIMG Inc.
Filing Date: 2025-07-21
Form: 10-K
Item: Item 1A
Chunk 107
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,040. Accordingly,
we have added ROU Assets and Lease Liabilities related to those leases as of September 30, 2023.

Effective September 1, 2024, we have leased a principal
office space located at 16097 Poppyseed Cir, Unit 1904, Delray Beach, Florida, 33484, which we lease for $3,500 per month until August
31, 2025.

As
of September 30, 2024, the Company’s operating leases had a weighted average remaining lease term of 1 years and a weighted-average
discount rate of 5%. Other information related to our operating leases is as follows:

SCHEDULE OF OTHER INFORMATION RELATED TO OPERATING LEASE 

    ROU Asset – October 1, 2023 
    $403,258 
  
    Disposal of ROU 
     (85,660)
  
    ROU Asset added during the period 
     37,890 
  
    Amortization during the period 
     (255,742)
  
    ROU Asset – September 30, 2024 
    $99,746 

    Lease Liability – October 1, 2023 
    $378,429 
  
    Lease Liability added during the period 
     37,890 
  
    Amortization during the period 
     (226,011)
  
    disposal of lease liability 
     (89,347)
  
    Lease Liability – September 30, 2024 
    $100,962 

    Lease Liability – Short-Term 
    $100,962 
  
    Lease Liability – Long-Term 
     - 
  
    Lease Liability – Total 
    $100,962 

The
table below reconciles the fixed component of the undiscounted cash flows for each of the first five years and the total remaining years
to the lease liabilities recorded on the Consolidated Balance Sheet as of September 30, 2024.

Amounts
due within 12 months of September 30,

SCHEDULE OF FUTURE MINIMUM RENTAL PAYMENTS FOR OPERATING LEASES 

    2025 
     Sep 30, 2024 
  
    2025 
     102,738 

    2026 
     428 
  
    Total Minimum Lease Payments 
     103,166 
  
    Less Effect of Discounting 
     2,204