Company: IMG
Filing Date: 2025-07-21
Form Type: 10-K
Source: 0001641172-25-020300
Chunk: 367

Company: CIMG Inc.
Filing Date: 2025-07-21
Form: 10-K
Item: Item 1B
Chunk 367
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 of the termination of employment or performance goals not achieved.

Common Stock issued for services

During the year ended September 30, 2024, the company
did not have Common Stock issued for services.

Exercise of options

During the year ended September 30, 2024, the company
did not exercise any options. 

9. STOCK OPTIONS AND WARRANTS

Options

During the fiscal year ended September 30, 2024, the
Company granted 0 new stock options, issued 0 shares upon the exercise of outstanding stock options.

During
the fiscal year ended September 30, 2023, the Company granted 6,000 new stock options at an exercise price of $8.15 to an employee. These
options shall be vested and become exercisable 1/3 on each anniversary of the grant date. The options will expire ten years from the grant
date, unless terminated earlier as provided by the option agreements. 

    F-16

The fair value
of each option award was estimated on the date of grant using the Black-Scholes option valuation model using the assumptions noted as
follows: expected volatility was based on the volatility of a peer group of companies. The expected term of options granted was determined
using the simplified method under SAB 107 which represents the mid-point between the vesting term and the contractual term. The risk-free
rate is calculated using the U.S. Treasury yield curve and is based on the expected term of the option.

The Black-Scholes option pricing model was used with
the following weighted-average assumptions for options granted during the year ended September 30, 2024 and 2023, respectively:

SCHEDULE OF WEIGHTED AVERAGE ASSUMPTIONS FOR FAIR VALUE MEASUREMENT OF OPTIONS GRANTED 

    For employees 
    September 30, 2024  
    September 30, 2023 
  
    Risk-free interest rate 
     0% 
     4.39%
  
    Expected option life 
     0.00  
     6 years 
  
    Expected volatility 
     0% 
     68.60%
  
    Expected dividend yield 
     0.00% 
     0.00%
  
    Exercise price 
    $-  
    $8.15 

The Company is expensing these stock option awards
on a straight-line basis over the requisite service period.

Due to forfeitures exceeded previously recognized expense, and the