Company: IMG
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001493152-25-020586
Chunk: 23

Company: CIMG Inc.
Filing Date: 2025-11-03
Form: 10-Q
Item: Item 1
Chunk 23
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07 on October 1, 2019 and the impact of the implementation was not material to the financial statements.

For
nine months ended June 30, 2025, the Company issued 1,000,000 shares of its common stock under the 2024 Equity Incentive Plan.

Comprehensive
income/loss

Comprehensive
income/loss is defined to include all changes in equity except those resulting from investments by owners and distributions to owners.
Among other disclosures, all items that are required to be recognized under current accounting standards as components of comprehensive
income/loss are required to be reported in a financial statement that is presented with the same prominence as other financial statements.
The Company’s current component of other comprehensive income/loss pertains to foreign currency translation adjustments.

Segment
Information

As
of and for the nine months ended June 30, 2025, management has changed its internal reporting structure and identified a new chief operating
decision maker. As a result, the Company now operates in a single reportable segment for all periods presented, which is the commercialization
and development of functional beverages.

The
comparative segment information for the nine months ended June 30, 2024 has been recast to conform to the current period presentation.

SCHEDULE
OF SEGMENT INFORMATION 

    Nine Months Ended
                                                                               June 30, 2025  
    Nine Months Ended
                                                                               June 30, 2024 
  
    Revenues, net 
    $84,431  
    $1,641,955 
  
    Cost of sales 
     (63,819) 
     (1,820,140)
  
    Gross profit(loss) 
     20,612  
     (178,185)

    Operating expenses 
     (3,387,725) 
     (4,748,076)
  
    Loss from operations 
     (3,367,113) 
     (4,926,261)

    Other income 
     452,142  
     412,580 
  
    Loss from equity method investment 
     -  
     (3,789)
  
    Other expense 
     (54,866) 
     (145,140)
  
    Interest expense, net 
     -  
     (1,277)
  
    Loss on acquisition 
     (20,210) 
     - 
  
    Net loss from continuing operations