Company: IMG
Filing Date: 2025-07-21
Form Type: 10-K
Source: 0001641172-25-020300
Chunk: 923

Company: CIMG Inc.
Filing Date: 2025-07-21
Form: 10-K
Item: Item 7A
Chunk 923
---
,944 
  
    Cash paid for taxes 
    $-  
    800 

    Noncash investing and financing activities: 

    Stock issuance costs accrued 
    $-  
    - 
  
    Forgiveness of stock issuance costs 
    $-  
    40,000 
  
    Deferred Stock Offering cost accrued ROU assets
    and liabilities added during the period 
    $105,825  
    57,080 

The accompanying notes are an integral part of these
consolidated financial statements.

F-6

CIMG Inc. (f.k.a. NUZEE, INC.)

Notes to Consolidated Financial Statements

(In U.S. dollars, except for share and per share data, or otherwise noted)

1. ORGANIZATION

CIMG Inc. is a company incorporated in Nevada and
listed on Nasdaq since June 2020. We were formerly known as “Nuzee, Inc.” with a previous ticker symbol “NUZE”,
and we changed our corporate name and ticker symbol to “CIMG Inc.” and “IMG” in October 2024. We previously focused
on specialty coffee and related technologies but are now expanding our sales and distribution channels in Asia to encompass a broader
range of consumer food and beverage products. This expansion is fueled by our online sales platform, which leverages a natural language
search function.

CIMG, our holding company, or DZR Tech, its subsidiary
incorporated in Hong Kong, or Weiwin, our subsidiary incorporated in Florida, may transfer cash to our PRC subsidiaries, Beijing Zhongyan,
through capital injections and intra-group loans.

2. BASIS OF PRESENTATION AND SUMMARY OF
SIGNIFICANT ACCOUNTING POLICIES

The summary of significant accounting policies presented
below is designed to assist in understanding the Company’s financial statements. Such financial statements and accompanying notes
are the representations of the Company’s management, who are responsible for their integrity and objectivity. These accounting policies
conform to accounting principles generally accepted in the United States of America (“GAAP”) in all material respects and
have been consistently applied in preparing the accompanying financial statements.

Principles of Consolidation

The Company prepares its financial statements on the
basis of accounting. The accompanying consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries.
All significant intercompany accounts, balances and transactions have been eliminated upon consolidation.

The Company consolidates DZR Tech, Wewin and Beijing
Zh