Company: IMG
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001493152-25-020586
Chunk: 8

Company: CIMG Inc.
Filing Date: 2025-11-03
Form: 10-Q
Item: Item 1
Chunk 8
---
 
    $35,958  
    $374,458 

    Supplemental disclosure of cash flow information: 

    Cash paid for interest 
    $-  
    $1,416 
  
    Cash paid for taxes 
     -  
     3,048 
  
    Subscription receivable 
     616,474  
     - 

The
accompanying notes are an integral part of these unaudited consolidated financial statements.

6

CIMG
Inc.

NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

June
30, 2025

1.
ORGANIZATION

CIMG
Inc. is a company incorporated in Nevada and listed on Nasdaq since June 2020. We were formerly known as “Nuzee, Inc.” with
a previous ticker symbol “NUZE”, and we changed our corporate name and ticker symbol to “CIMG Inc.” and “IMG”
in October 2024. We previously focused on specialty coffee and related technologies but are now expanding our sales and distribution
channels in Asia to encompass a broader range of consumer food and beverage products. This expansion is fueled by our online sales platform,
which leverages a natural language search function.

CIMG,
our holding company, or DZR Tech, its subsidiary incorporated in Hong Kong, or Wewin, our subsidiary incorporated in Florida, may transfer
cash to our PRC subsidiaries, Beijing Zhongyan, through capital injections and intra-group loans.

On
March 10, 2025, Zhongyan Shangyue Technology Co., Ltd. (“Zhongyan”), CIMG Inc.’s wholly-owned subsidiary, entered into a Business Cooperation
Intent Agreement (the “Agreement”) with Shanghai Huomao Cultural Development Co., Ltd. (“Huomao”). Pursuant
to the Agreement, the three shareholders of Huomao intend to transfer an aggregate of 51%
of their equity interest in Huomao to Zhongyan in exchange for 200,000
shares of Common Stock. The Common Stock shall be subject to a six-month lock-up period.

On
March 21, 2025, Zhongyan established a wholly-owned subsidiary, Henan Zhongyan Shangyue Technology Co.
Ltd(“Henan Zhongyan”).

On
March 27, 2025, Zhongyan entered into a Business Cooperation Intent Agreement (the “Agreement”)
with Xilin Online (