Company: IMG
Filing Date: 2025-11-18
Form Type: 10-Q/A
Source: 0001493152-25-024067
Chunk: 19

Company: CIMG Inc.
Filing Date: 2025-11-18
Form: 10-Q/A
Chunk 19
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 for the periods presented; therefore, no provision for income taxes is required.

SCHEDULE OF INCOME TAX EXPENSE BENEFIT

|                                                  |     | Six            
 Months         
 Ended          
 March 31, 2025 |            |   |     | Six           
 Months        
 Ended         
 March 31,2024 |            |   |
| Current income tax expense                       |     |                |          - |   |     |               |          - |   |
| Deferred                                         
 income tax expense                               |     |                |          - |   |     |               |          - |   |
| Total                                            
 income tax expense                               |     |                |          - |   |     |               |          - |   |
| Loss before income                               
 tax                                              |     | $              | (1,921,805 | ) |     |               | (3,802,542 | ) |
| Tax benefit at statutory U.S. federal rate (21%) |     |                |   (403,579 | ) |     |               |   (798,534 | ) |
| Non-deductible expenses                          |     |                |      4,234 |   |     |               |          - |   |
| Foreign rate differential                        |     |                |    (66,084 | ) |     |               |     27,786 |   |
| Change in valuation allowance                    |     |                |    465,429 |   |     |               |    770,748 |   |
| Income                                           
 tax expense                                      |     | $              |          - |   |     |               |          - |   |

For the six months ended March 31, 2025 and 2024,
the Company incurred losses and generated net operating loss (“NOL”) carryforwards. However, due to uncertainty surrounding
the Company’s ability to realize these deferred tax assets, a full valuation allowance was recorded, resulting in no income tax
benefit being recognized in the periods presented.

| 13 |

Related parties

A party is considered to be related to the Company if the party directly or indirectly or through one or more intermediaries, controls, is controlled by, or is under common control with the Company. Related parties also include principal owners of the Company, its management, members of the immediate families of principal owners of the Company and its management and other parties with which the Company may deal if one party controls or can significantly influence the management or operating policies of the other to an extent