Company: IMG
Filing Date: 2025-11-18
Form Type: 10-Q/A
Source: 0001493152-25-024067
Chunk: 9

Company: CIMG Inc.
Filing Date: 2025-11-18
Form: 10-Q/A
Chunk 9
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Accounts Receivable, net

Trade accounts receivable is periodically evaluated for collectability based on past credit history with customers and their current financial condition. Bad debts expense or write offs of receivables are determined on the basis of loss experience, known and inherent risks in the receivable portfolio and current economic conditions. The Company recorded an allowance for credit loss of $ Niland $ 3,450,141as of both March 31, 2025, and September 30, 2024 respectively.

SCHEDULE OF ACCOUNTS RECEIVABLES

|                            |     |   | March 31, 
      2025 |     |   | September 30, 
          2024 |   |
|:---------------------------|:----|:--|----------:|:----|:--|--------------:|:--|
| Accounts receivable        |     | $ |    79,941 |     | $ |     3,450,141 |   |
| Less: allowance for credit 
 loss                       |     |   |         - |     |   |    (3,450,141 | ) |
| Total                      
 accounts receivable        |     | $ |    79,941 |     | $ |             - |   |

Assets Held for Sale-Current

As of March 31, 2025 and September 30, 2024, assets held for Sale-Current were $ Niland $ 10,736. This is mainly the equipment planned for sale.

SCHEDULE OF ASSETS HELD FOR SALE

|                        |     | March 31, 
 2025      |   |     | September 30, 
 2024          |          |   |
|:-----------------------|:----|:----------|:--|:----|:--------------|---------:|:--|
| Assets Held for Sale   |     |           | - |     |               |  214,709 |   |
| Current                
 Assets Held for Sale   |     |           | - |     |               |  214,709 |   |
| Property and equipment 
 asset impairment       |     |           | - |     |               | (203,973 | ) |
| Total                  |     |           | - |     |               |   10,736 |   |

| 8 |

Major Customers

In the six months ended March 31, 2025 and 2024, revenue was primarily derived from major customers disclosed below.