Company: IMG
Filing Date: 2025-09-24
Form Type: 10-Q
Source: 0001493152-25-014748
Chunk: 44

Company: CIMG Inc.
Filing Date: 2025-09-24
Form: 10-Q
Item: Item 8
Chunk 44
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 a modified retrospective basis. The adoption of Topic 606 did not have a material
impact on our consolidated financial statements, including the presentation of revenues in our Consolidated Statements of Operations.

Per
ASC 606-10-32-2, an entity shall consider the terms of the contract and its customary business practices to determine the transaction
price. The transaction price is the amount of consideration to which an entity expects to be entitled in exchange for transferring promised
goods or services to a customer, excluding amounts collected on behalf of third parties (for example, some sales taxes). The consideration
promised in a contract with a customer may include fixed amounts, variable amounts, or both.

    10

Per
ASC 606-10-25-23 An entity shall recognize revenue when (or as) the entity satisfies a performance obligation by transferring a promised
good or service (that is, an asset) to a customer.

Per
ASC 606-10-55-37 An entity is a principal if it controls the specified good or service before that good or service is transferred to
a customer. However, an entity does not necessarily control a specified good if the entity obtains legal title to that good only momentarily
before legal title is transferred to a customer. An entity that is a principal may satisfy its performance obligation to provide the
specified good or service itself or it may engage another party (for example, a subcontractor) to satisfy some or all of the performance
obligation on its behalf.

ASC
606-10-55-38 An entity is an agent if the entity’s performance obligation is to arrange for the provision of the specified good
or service by another party. An entity that is an agent does not control the specified good or service provided by another party before
that good or service is transferred to the customer. When (or as) an entity that is an agent satisfies a performance obligation, the
entity recognizes revenue in the amount of any fee or commission to which it expects to be entitled in exchange for arranging for the
specified goods or services to be provided by the other party. An entity’s fee or commission might be the net amount of consideration
that the entity retains after paying the other party the consideration received in exchange for the goods or services to be provided
by that party.

Return
and Exchange Policy

All
products are thoroughly inspected and securely packaged before they are shipped to ensure buyers receive the best possible product. If
for any reason buyers are unsatisfied with the products, they can return