Company: IMG
Filing Date: 2025-07-21
Form Type: 10-K
Source: 0001641172-25-020300
Chunk: 194

Company: CIMG Inc.
Filing Date: 2025-07-21
Form: 10-K
Item: Item 1
Chunk 194
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 the year ended September 30, 2024 and received a delist determination letter from the Listing
Qualifications Department of The Nasdaq Stock Market LLC on June 27, 2025 (“Nasdaq Delist Determination Letter”). According
to the Nasdaq Delist Determination Letter, unless the Company requests an appeal of this determination by July 7, 2025, trading of the
Company’s common stock will be suspended from The Nasdaq Capital Market at the opening of business on July 9, 2025, and NSADAQ will
file a Form 25-NSE with the SEC to remove the Company’s securities from listing and registration on The Nasdaq Stock Market.

The Company intends to file
its Form 10-K for the fiscal year ended September 30, 2024 as soon as possible, and in any event before July 7, 2025. In addition, the
Company intends to appeal Nasdaq’s delist determination and plans to request a hearing before a Nasdaq Hearings Panel to present
its plan for regaining compliance with the applicable Nasdaq Listing Rules by 4:00 Eastern Time on July 7, 2025.

If
the Company does not regain compliance within the allotted compliance period or periods, including any extensions that NASDAQ may determine
to grant, NASDAQ will provide notice that the Common Stock will be subject to delisting. The Company would then be entitled to appeal
that determination to a NASDAQ hearings panel. There can be no assurance that the Company will regain compliance with the minimum bid
price requirement during the 180-day compliance period, secure a second period of 180 days to regain compliance or maintain compliance
with the other NASDAQ listing requirements.

If
we fail to meet one of those standards or any other Nasdaq Capital Market continued listing requirement, our Common Stock may be subject
to delisting, as applied by Nasdaq in its discretion. We intend to take all commercially reasonable actions to maintain our Nasdaq Capital
Market listing. If our Common Stock is delisted in the future, it is not likely that we will be able to list our Common Stock on another
national securities exchange on a timely basis or at all and, as a result, we expect our securities would be quoted on an over-the-counter
market; however, if this were to occur, our stockholders could face significant material adverse consequences, including limited availability
of market quotations for our Common Stock and reduced liquidity for the trading of our securities.