Company: IMG
Filing Date: 2025-08-26
Form Type: 10-Q
Source: 0001641172-25-025514
Chunk: 49

Company: CIMG Inc.
Filing Date: 2025-08-26
Form: 10-Q
Item: Item 8
Chunk 49
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31, 2024, the outstanding balance of this loan was $103,889.

On
April 18, 2024, SOONCHA KIM lent the company $320,000 with an annual interest rate of 7%. The outstanding balance on the loan at December
31, 2024 amounted to $320,926.

For
three months ended December 31, 2024, ZHANG XIANG provided a loan of $8,697 to the Company, bearing no interest. As of December
31, 2024, the outstanding loan balance remained at $8,697.

4.
GEOGRAPHIC CONCENTRATIONS

The
Company is organized based on fundamentally one business segment although it does sell its products on a world-wide basis. The Company
is organized in two geographical segments. The company jointly produces and sells its products in North America and China. Information
about the Company’s geographic operations for three months ended December 31, 2024 and 2023 are as follows:

SCHEDULE OF GEOGRAPHICAL OPERATIONS

    Three
                                            Months Ended December
                                            31,
                                                                                                                                                                                                                                                         2024  
    Three
                                            Months Ended December
                                            31,
                                                                                                                                                                                                                                                         2023 
  
    Net
    Revenue: 

    North
    America 
    $-   
    $965,932 
  
    P.R.C 
     22,853  
     -  
  
    Revenues, net 
    $22,853  
    $965,932 

    December
                                            31,
                                                                                                                                                                                                                                                       2024  
    September 30,
                                                                                2024 
  
    Property
    and equipment, net: 

    North
    America 
    $-   
     -  
  
    P.R.C 
     1,997  
    $2,268 
  
    Property and equipment, net 
    $1,997  
    $2,268 

    17

5.
RELATED PARTY TRANSACTIONS

As
of December 31, 2024, the directors of Wewin Technology LLC paid an administrative fee of $18,000 on
behalf of CIMG INC. The company expects to clear and repay this related-party transaction before
September 30, 2025.

6.
DISCONTINUED OPERATIONS

On
June 7, 2024, the company’s board of directors passed a