Company: IMG
Filing Date: 2025-07-21
Form Type: 10-K
Source: 0001641172-25-020300
Chunk: 610

Company: CIMG Inc.
Filing Date: 2025-07-21
Form: 10-K
Item: Item 4
Chunk 610
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     1,588,342 
  
    Accrued expenses 
     695,330  
     225,693 
  
    Total 
     1,989,337  
     1814,035 

Deferred income

During the year ended September 30, 2024 and September
30, 2023,the deferred income are $Nil and $379,795 respectively, the reason for the reduction is the uncertainty of the income time and income
results. The reduction in this period is based on the rigor of the report.

Other current liabilities

During the year ended September 30, 2024 and September
30, 2023,the other current liabilities are $586,174 and $Nil respectively. The mainly achieved through financing to purchase equipment
and pay for the goods.

Loss from investment

Due to Discontinued Operations, the investment
income for 2024 is in the red. As of September 30, 2024 and September 30, 2023, the investment income losses were $1,092,169 and $7,375
respectively.

Cost Recognition

The Maca Series products are pure plant products that
we purchase maca raw materials and entrust to process. Therefore, the raw materials - the procurement cost of maca, the packaging cost
of goods, the freight cost of goods and so on. 

Selling, General and Administrative Expense

Selling, general and administrative expenses (SG&A)
are primarily comprised of personnel costs, selling and marketing expenses, depreciation and amortization, insurance expenses, professional
services, travel and office expenses, etc. In some cases, the company bears shipping costs for shipping customer orders, and shipping
and handling costs are recorded under operating expenses in the consolidated statement of operations. 

As of September 30, 2024 and September 30, 2023,
the operating expenses were $5,980,521 and $8,174,200 respectively.

Asset impairment loss

During
the year ended September 30, 2024 and September 30, 2023,the Asset impairment loss are $1,019,471
and $Nil. The mainly due to the impairment
of inventories and fixed assets.

SCHEDULE OF ASSET IMPAIRMENT LOSS

    September 30. 
2024

    September 30, 
2023

    Property and equipment asset impairment

    203,973

            -

    Impairment loss