Company: IMG
Filing Date: 2025-09-24
Form Type: 10-Q
Source: 0001493152-25-014748
Chunk: 66

Company: CIMG Inc.
Filing Date: 2025-09-24
Form: 10-Q
Item: Item 1A
Chunk 66
---
In
addition to the other information set forth in this Form 10-Q, you should carefully consider the risk factors discussed in Part I, Item
1A of our Form 10-K, which could affect our business, financial condition, or operating results. The risks we describe in our periodic
reports are not the only risks we face. Additional risks and uncertainties not currently known to us or that we currently deem to be
immaterial may also materially adversely affect our business, financial condition, or operating results. For the quarter ended March
31, 2025, the Company is not aware of any specific new and additional risk factors that were not previously disclosed.

Item
2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

As
previously disclosed in the Current Report on Form 8-K filed by the Company with the SEC on August 27, 2025, on August 25, 2025, the
Company, entered into a Securities Purchase Agreement with certain non U.S. investors providing for the private placement of
220,000,000 shares of Common Stock in reliance on the registration exemptions of Regulation S for an aggregate consideration of
$55,000,000 worth of bitcoin, at a purchase price of $0.25 per share. The closing of the sale of the Shares occurred on September 2,
2025. Pursuant to the Purchase Agreement, the Company issued 148,100,000 shares of common stock to the non-U.S. investors, following
receipt of the respective purchase amounts, and will issue the remaining 71,900,000 upon shareholder approval.

As previously disclosed in a Current Report filed with the SEC on August 26, 2025, on
August 21, 2025, the Company, entered into a convertible note purchase agreement (the
“Purchase Agreement”) with certain non U.S. investors (the “Investors”), providing for the private placement
of convertible promissory notes in the aggregate principal amount of $4,000,000 (the “Notes”) in reliance on the registration
exemptions of Regulation S.

Item
3. DEFAULTS UPON SENIOR SECURITIES

None.

Item
4. MINE SAFETY DISCLOSURES

Not
applicable.

Item
5. OTHER INFORMATION

During
the fiscal quarter ended March 31, 2025, none of the Company’s directors or officers, as defined in Section 16 of the Securities