Company: IMG
Filing Date: 2025-08-26
Form Type: 10-Q
Source: 0001641172-25-025514
Chunk: 15

Company: CIMG Inc.
Filing Date: 2025-08-26
Form: 10-Q
Item: Item 1
Chunk 15
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     1,141,755 
  
    Total 
    $1,820,200  
    $2,240,337 

Other
current liabilities

As
of December 31, 2024 and September 30, 2024, the other current liabilities are $631,921 and $586,173 respectively. The mainly achieved
through financing to purchase equipment and pay for the goods.

Cost
Recognition

The
Maca Series products are pure plant products that we purchase maca raw materials and entrust to process. Therefore, the raw materials
- the procurement cost of maca, the packaging cost of goods, the freight cost of goods and so on.

Operating
expenses

For
the three months ended December 31, 2024, the operating expenses were $1,517,758. This mainly includes personnel
costs of $617,824, sales and marketing expenses of $104,403, depreciation and amortization of $7,771, professional services such as lawyers,
auditors and consultants of $642,125, travel expenses of $35,084, office expenses of $73,585 and other expenses of $36,966.

For the three months ended December
31, 2023, the operating expenses were $2,145,642 .It primarily comprised of personnel costs, selling and marketing expenses, depreciation
and amortization, insurance expenses, professional services, travel and office expenses, etc. In some cases, the company bears shipping
costs for shipping customer orders, and shipping and handling costs are recorded under operating expenses in the consolidated statement
of operations.

Other
income

For the three months ended December
31, 2024, the other income was $9,047. It is mainly because of the write-off other payables.

For the three months ended December 31, 2023, the other income was $46,832.
It is mainly because of the rental income.

Other
Expense

Other
expense of $43,017 and $49,195 for the three months ended December 31, 2024 and 2023, respectively, primarily includes write off of deferred
financing costs and sublease expense.

    13

Prepaid
expenses and other current assets

Prepaid
expenses and other current assets as of December 31, 2024 and September 30, 2024 are as follows:

 SCHEDULE OF PREPAID EXPENSES AND OTHER CURRENT ASSETS

    December