Company: IMG
Filing Date: 2025-07-21
Form Type: 10-K
Source: 0001641172-25-020300
Chunk: 1015

Company: CIMG Inc.
Filing Date: 2025-07-21
Form: 10-K
Item: Item 9A
Chunk 1015
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$320,000 with an annual interest rate of 7%.The outstanding balance on the loan at September 30, 2024 amounted to $330,126.

On July 2024, the Company secured unsecured
financing in the aggregate amount of $1,400,021 (the “Loan”) from various individual and institutional lenders to support its
ongoing business operations. The Loan was structured with a one-year maturity term and carried no interest obligation. Subsequently, on
October 22, 2024, the lenders exercised their right to convert the full outstanding principal amount of the Loan into equity through a
stock subscription agreement.

    F-13

4. GEOGRAPHIC
CONCENTRATIONS

The Company operates primarily within a single business segment, despite distributing its products globally. Its operations are organized
into two geographic regions: North America and China. The Company jointly manufactures and markets its products in these regions. The
tables below present net revenue and property and equipment, net, by geographic area for the years ended September 30, 2024 and 2023:

SCHEDULE OF GEOGRAPHICAL OPERATIONS

    September 30, 2024  
    September 30, 2023 
  
    Net Revenue: 

    North America 
    $1,924,293  
    $1,757,968 
  
    China 
     5,998  
     - 
  
    Revenues, net 
    $1,930,291  
    $1,757,968 

    September 30, 2024  
    September 30, 2023 
  
    Property and equipment, net: 

    North America 
    $2,268  
    $184,763 
  
    Property and equipment, net 
    $2,268  
    $184,763 

5. RELATED PARTY TRANSACTIONS

On August 20, 2024, the Company entered into a convertible note purchase agreement (the “Purchase
Agreement”) with certain investors (the “August Notes Investors”) to issue and sell convertible notes in the aggregate
principal amount of $1,300,000 (the “August Notes”).  Among the investors, the owner of METAVERSE INTELLIGENCE TECH LTD is a director of Wewin Technology LLC, a subsidiary
of CIMG INC.

As of September 30, 2024, the directors of Wewin Technology LLC paid