Company: IMG
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001493152-25-020586
Chunk: 37

Company: CIMG Inc.
Filing Date: 2025-11-03
Form: 10-Q
Item: Item 1
Chunk 37
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-U.S. investors, providing for the
    sale of convertible promissory notes with an aggregate principal amount of $4 million. The notes bear interest at 7% per annum, mature
    on August 31, 2026, and are convertible into shares of our Common Stock at $0.24 per share. Holders of the convertible notes each
    converted their notes into 8,333,333 shares of Common Stock, issued on September 9 and October 30, 2025, respectively, for a total
    of 16,666,666 shares of Common Stock. 

    ●
    On
    September 2, 2025, the Company also closed a private offering of 220,000,000 shares of Common Stock to non-U.S. investors under a
    Securities Purchase Agreement dated August 25, 2025, for aggregate cash consideration of $55 million (at $0.25 per share). The first
    148,100,000 shares were issued upon closing, and the remaining 71,900,000 shares were issued on October 29, 2025, following shareholder
    approval.

    ●
    On
    October 22, 2025, holders of warrants previously issued on January 16, 2025 exercised their warrants in full at $0.39 per share,
    and the Company issued 25,641,023 shares of Common Stock on October 30, 2025, generating gross proceeds of approximately $10 million.

All
of the foregoing issuances were not registered under the Securities Act of 1933 and were made in reliance on Regulation S as offshore
transactions to non-U.S. persons.

(b)
None.

(c)
None.

Item
3. DEFAULTS UPON SENIOR SECURITIES

None.

Item
4. MINE SAFETY DISCLOSURES

Not
applicable.

Item
5. OTHER INFORMATION

During
the fiscal quarter ended June 30, 2025, none of the Company’s directors or officers, as defined in Section 16 of the Securities
Exchange Act of 1934, adopted or terminated any contract, instruction or written plan for the purchase or sale of Company securities
that was intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) or any “non-Rule 10b5-1 trading arrangement”
as defined under Item 408(a) of Regulation S-K.

Item
6. EXH