Company: IMG
Filing Date: 2025-07-21
Form Type: 10-K
Source: 0001641172-25-020300
Chunk: 1213

Company: CIMG Inc.
Filing Date: 2025-07-21
Form: 10-K
Item: Item 1C
Chunk 1213
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 a new entry into the functional beverage market, blending health-forward branding with innovative design.

Our
customer base includes wholesale distributors such as grocery stores, convenience stores, and vending machine providers.

Nasdaq
Listing Deficiency

The
Company received a notification letter from NASDAQ on January 23, 2024 (the “NASDAQ Notification Letter”), indicating that
the Company was not in compliance with NASDAQ Listing Rule 5550(b)(1) (the “Stockholders’ Equity Requirement”). The
NASDAQ Notification Letter stated that the Company failed to maintain a minimum of $2,500,000 in stockholders’ equity for continued
listing, as required by the Stockholders’ Equity Requirement.

Subsequently,
the Company completed a convertible note financing of $320,000 on April 27, 2024, an equity financing of $1,500,000 on June 4, 2024,
and an equity financing of $3,000,000 on July 11, 2024. On July 23, 2024, the Company received a letter from NASDAQ stating that based
on the Company’s Form 8-K, filed with the Commission on July 19, 2024, NASDAQ has determined that the Company has complied with
Listing Rule 5550(b)(1).

On
January 14, 2025, the Company received a notification letter (the “Minimum Bid Price Notice”) from the Listing Qualifications
Department of The Nasdaq Stock Market LLC indicating that the Company is not in compliance with the minimum bid price requirement for
continued listing set forth in Nasdaq Listing Rule 5550(a)(2). Nasdaq Listing Rule 5550(a)(2) requires listed securities to maintain
a minimum bid price of $1.00 per share, and Nasdaq Listing Rule 5810(c)(3)(A) provides that a failure to meet the minimum bid price requirement
exists if the deficiency continues for a period of 30 consecutive business days. The Minimum Bid Price Notice has no immediate effect
on the listing of the Company’s Common Stock, which continues to trade on The Nasdaq Capital Market under the symbol “IMG.”
In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has 180 calendar days from the date of the Minimum Bid Price Notice,
or until July 14, 2025, to regain compliance. If at any time before July 14, 2025 the closing bid price of the Common Stock closes at