Company: IMG
Filing Date: 2025-07-21
Form Type: 10-K
Source: 0001641172-25-020300
Chunk: 352

Company: CIMG Inc.
Filing Date: 2025-07-21
Form: 10-K
Item: Item 1B
Chunk 352
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 Exchange Policy

All products are thoroughly inspected and securely
packaged before they are shipped to ensure buyers receive the best possible product. If for any reason buyers are unsatisfied with the
products, they can return them, and the Company will exchange or refund the purchase minus any shipping charges. For wholesale customers,
return policies vary based on their specific agreements with customers. Under chargebacks agreements with the customers, the Company agrees
to reimburse the seller for a portion of the costs incurred by the seller to advertise and promote certain of the Company’s products.
The Company estimates, accrues and recognizes such chargebacks. These amounts are included in the determination of net sales. As of September
30, 2024, CIMG’s Maca collection has never had a return record.

Accounts payable and accrued expenses 

During the year ended September 30, 2024 and September
30, 2023,the accounts payable are $1,294,007 and $1,588,342 respectively, it mainly includes the accounts payable and $325,000 litigation
settlement costs of Nuzee single-serving coffee and DRIPKIT products. For details on litigation and post-litigation payments, please refer
to Note 11.

During the year ended September 30, 2024 and September
30, 2023,the accrued expenses are $695,330 and $225,693 respectively, it mainly includes the accounts payable settlement costs of Nuzee
single-serving coffee and DRIPKIT products.

Accounts payable and accrued expenses for the
years ended September 30, 2024 and 2023 are as follows:

 SCHEDULE OF ACCOUNTS PAYABLE
AND ACCRUED EXPENSES

    September 30.  2024  
    September 30,  2023 
  
    Accounts payable 
     1,294,007  
     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