Company: IMG
Filing Date: 2025-07-21
Form Type: 10-K
Source: 0001641172-25-020300
Chunk: 129

Company: CIMG Inc.
Filing Date: 2025-07-21
Form: 10-K
Item: Item 1A
Chunk 129
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 Price  
    Weighted Average Remaining Contractual Life (years)  
    Aggregate Intrinsic Value 
  
    Outstanding on September 30, 2022 
     152,398  
    $158.24  
     3.7  
    $         - 
  
    Issued 
     -  
     -  
     -  
     - 
  
    Exercised 
     -  
     -  
     -  
     - 
  
    Expired 
     -  
     -  
     -  

    Outstanding on September 30, 2023 
     152,398  
    $158.24  
     2.65  
     - 
  
    Exercisable on September 30, 2023 
     152,398  
    $158.24  
     2.65  
    $- 

On April 13, 2022, the Company sold 25,279 2022
Units, with each 2022 Unit consisting of (a) one share of our Common Stock and (b) one 2022 Warrant. Each 2022 Warrant entitles the holder
to purchase one share of our Common Stock at an exercise price of $70.00 per share. The 2022 Warrants have a term of 5 years. Holders
may exercise their 2022 Warrants on a “cashless” basis pursuant to a formula set forth in the form of 2022 Warrant.

    F-19

10. INCOME TAX

The company recorded $0 income tax expense for the years ended September
30, 2024 and 2023.

Deferred income taxes reflect the net tax effects
of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used
for income tax purposes.

The Company will have tax losses available to
be applied against future years’ income as result of the losses incurred. However, due to the losses incurred in the period
and expected future operating results, management determined that it is more likely than not that the deferred tax asset resulting
from the tax losses available for carry forward will not be realized through the reduction of future income tax payments.
Accordingly, a 100%
valuation allowance has been recorded for deferred income tax assets. Cumulative net operating loss carry forward is $51,