Company: IMG
Filing Date: 2025-11-18
Form Type: 10-Q/A
Source: 0001493152-25-024063
Chunk: 36

Company: CIMG Inc.
Filing Date: 2025-11-18
Form: 10-Q/A
Chunk 36
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 may change as a result of many factors currently unknown to us.

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On October 31, 2024, all the August 2024 Notes Investors converted their August Notes to shares of Common Stock. As a result of such conversions of the August Notes, the Company issued an aggregate of 1,396,813 shares of Common Stock to the August Notes Investors.

On October 22, 2024, the holders of warrants exercised its cashless option to purchase an aggregate of 55,973 shares of the Company’s common stock. In connection with such cashless exercise, the Company did not receive any cash proceeds.

On September 24, 2024, the Company entered into a securities purchase agreement with certain investors (the “Investors”), providing for the sale and issuance of 3,508,769 shares of the Company’s common stock, par value $0.00001 per share, for an aggregate purchase price of $2,000,000.

On December 24, 2024, the Company issued 800,000 shares of its common stock for a total value of $523,680 under the 2024 Equity Incentive Plan.

In the future, we may receive additional funds upon the exercise for cash of outstanding warrants, if and when exercised for cash at the election of the warrant holders, including the Series A warrants (the “Series A Warrants”) and Series B warrants (the “Series B Warrants” and, collectively with the Series A Warrants, the “2021 Warrants”) that were sold by us in March 2021 in an underwritten registered public offering and the 2022 Warrants. The 2021 Warrant holders are obligated to pay the exercise price in cash upon exercise of the 2021 Warrants unless we fail to maintain a current prospectus relating to the common stock issuable upon the exercise of the 2021 Warrants (in which case, the 2021 Warrants may only be exercised via a “cashless” exercise provision). For additional information regarding the 2021 Warrants, see “Note 5—Stock Options and Warrants”to the Consolidated Financial Statements.

We intend to seek to raise additional capital, including through public or private equity offerings, to support our operating activities for the next twelve months and beyond, and such funding may not be available to us on acceptable terms, or at all. The timing and amount of funds that we will need to raise will depend on a number of factors, including