Company: IMG
Filing Date: 2025-09-24
Form Type: 10-Q
Source: 0001493152-25-014748
Chunk: 15

Company: CIMG Inc.
Filing Date: 2025-09-24
Form: 10-Q
Item: Item 1
Chunk 15
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 charges. For wholesale customers, return policies vary based on their specific agreements with customers. Under chargebacks
agreements with the customers, the Company agrees to reimburse the seller for a portion of the costs incurred by the seller to advertise
and promote certain of the Company’s products. The Company estimates, accrues and recognizes such chargebacks. These amounts are
included in the determination of net sales. For six months ended March 31, 2025 and 2024, the Company has no sales allowances for estimated
chargebacks and returns, respectively.

Accounts
payable and accrued expenses 

As
of March 31, 2025 and September 30, 2024, the accounts payable are $465,157 and $1,098,582 respectively.

As
of March 31, 2025 and September 30, 2024, the accrued expenses are $1,069,930 and $1,141,755 respectively, it mainly includes the accounts
payable settlement costs of Nuzee single-serving coffee and DRIPKIT products.

Accounts
payable and accrued expenses as of March 31, 2025 and September 30, 2024 are as follows:

 SCHEDULE OF ACCOUNTS PAYABLE
AND ACCRUED EXPENSES 

    March 31,
                                                                                2025  
    September 30,
                                                                                2024 
  
    Accounts payable 
     465,157  
     1,098,582 
  
    Accrued expenses 
     1,069,930  
     1,141,755 
  
    Total 
     1,535,087  
     2,240,337 

Other
current liabilities

As
of March 31, 2025 and September 30, 2024, the other current liabilities are $469,217
and $586,173
respectively. The mainly achieved through financing to purchase
equipment and pay for the goods.

Cost
Recognition

The
Maca Series products are pure plant products that we purchase maca raw materials and entrust to process. Therefore, the raw materials
- the procurement cost of maca, the packaging cost of goods, the freight cost of goods and so on.

    11

Operating
expenses

For
the six months ended Mach 31, 2025, the operating expenses were $2,270,435. This mainly includes personnel costs of $697,232, sales and
marketing