Company: IMG
Filing Date: 2025-07-21
Form Type: 10-K
Source: 0001641172-25-020300
Chunk: 765

Company: CIMG Inc.
Filing Date: 2025-07-21
Form: 10-K
Item: Item 6
Chunk 765
---
  
     41,108 
  
    Stock option expense 
     83,744  
     288,030 
  
    Restricted stock award compensation 
     -  
     180,526 
  
    Issuance of common stock for services 
     -  
     135,870 
  
    Bad debt expense 
     3,441,782  
     117,015 
  
    Loss from equity method investment 
     -  
     7,375 
  
    Property and equipment asset impairment 
     203,973  
     - 
  
    Impairment loss on inventory 
     815,498  
     - 

    Gain on disposal of subsidiary 
     (2,705,944) 
     - 

    Loss of disposal of unconsolidated affiliate 
     158,469  
     - 
  
    Interest income(expense), net 
     7,582  
     - 

    Sub-Lease Commissions 
     -  
     - 

    Forgiveness of Loan Payable and Other payables 
     (1,847) 
     - 

    Change in operating assets and liabilities: 

    Accounts receivable 
     499,582 
     (329,219)
  
    Inventories 
     (3,775,210) 
     16,882
  
    Prepaid expenses and other current assets 
     (280,999) 
     143,165 
  
    Other assets 
     7,060  
     9,414 
  
    Accounts payable, Accrued Expenses & Other
    Current Liabilities 
     175,302  
     1,053,675 
  
    Other payables-related party 
     7,500  
     - 
  
    Deferred income 
     (379,795) 
     60,088 
  
    Lease liability - operating lease 
     (277,467) 
     (277,682)
  
    Other current liabilities 
     (583,234) 
     - 
  
    Net cash used in operating activities 
     (9,970,680) 
     (6,381,560)

    Discontinued
                                            Operations:

    Losses caused by the termination
    of business 
     (433,566)