Company: IMG
Filing Date: 2025-08-26
Form Type: 10-Q
Source: 0001641172-25-025514
Chunk: 50

Company: CIMG Inc.
Filing Date: 2025-08-26
Form: 10-Q
Item: Item 8
Chunk 50
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 resolution to sale (1) NuZee KOREA Ltd a company incorporated in Korea
and a wholly-owned subsidiary of the Company; and (2) NuZee Investment Co., Ltd, a company incorporated in Japan and a wholly-owned subsidiary
of the Company. The discontinuation of the business is primarily due to strategic considerations by the management regarding the company’s
overall development, as well as the need to ensure administrative consistency.

The
losses from discontinued operations for three months ended December 31, 2024 and 2023 are as follows:

 SCHEDULE OF LOSSES FROM ASSET DISPOSAL OF DISCONTINUED OPERATIONS

     Three
                                            Months Ended  
     Three
                                            Months Ended 

     December
                                            31, 2024  
     December
                                            31, 2023 
  
    Revenue 
    $-  
    $388,054 
  
    Cost
    of revenue 
     -  
     (337,309)
  
    Gross profit 
     -  
     50,745 

    Operating
    expenses 
     -  
     (172,593)
  
    Operations
    Loss 
     -  
     (121,848)

    Other
    revenue 
     -  
     179 
  
    Other
    expense 
     -  
     (905)
  
    Interest
    income, net 
     -  
     170 
  
    Loss
    from discontinued operations before income tax 
     -  
     (122,404)

    Income
    tax expense 
     -  
     - 
  
    Loss
    from discontinued operation after tax 
     -  
     (122,404)

    Losses
    from asset disposal of discontinued operations 
    $-  
    $(122,404)

7.
INTANGIBLE ASSETS

Identifiable
life intangible assets

As
of December 31,2024, the net intangible assets of the company is $72,500
which is being amortized over five years from the date of acquisition at a rate of $30,000
per year.

Amortization
expense was $7,500 and $7,500 for three months ended December 31, 2024 and 2023.

Amortization
expense for the next four fiscal years is as follows