Company: IMG
Filing Date: 2025-11-07
Form Type: 10-Q/A
Source: 0001493152-25-021258
Chunk: 9

Company: CIMG Inc.
Filing Date: 2025-11-07
Form: 10-Q/A
Chunk 9
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 to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amount of revenues and expenses during the reporting periods. Actual results could differ from those estimates.

Cash and Cash Equivalents

The Company considers all highly liquid investments with original maturities of three months or less when purchased to be cash equivalents.

Concentration of Credit Risk

Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents. The Company places its cash with high quality banking institutions. From time to time, the Company may or may not maintain cash balances at certain institutions in excess of the Federal Deposit Insurance Corporation limit.

Accounts Receivable, net

Trade accounts receivable is periodically evaluated for collectability based on past credit history with customers and their current financial condition. Bad debts expense or write offs of receivables are determined on the basis of loss experience, known and inherent risks in the receivable portfolio and current economic conditions. The Company recorded an allowance for credit loss of $ Niland $ 3,450,141as of both June 30, 2025, and September 30, 2024 respectively.

SCHEDULE OF ACCOUNTS RECEIVABLES

|                                 |     |   | June 30, 
     2025 |     |   | September 30, 
          2024 |   |
|:--------------------------------|:----|:--|---------:|:----|:--|--------------:|:--|
| Accounts receivable             |     | $ |   75,630 |     | $ |     3,450,141 |   |
| Less: allowance for credit loss |     |   |        - |     |   |    (3,450,141 | ) |
| Total accounts receivable       |     | $ |   75,630 |     | $ |             - |   |

| 8 |

Assets Held for Sale-Current

As of June 30, 2025 and September 30, 2024, assets held for Sale-Current were $ Niland $ 10,736. This is mainly the equipment planned for sale.

SCHEDULE OF ASSETS HELD FOR SALE

|                                         |     | June 30, 
 2025     |   |     | September 30, 
 2024          |          |   |
|:----------------------------------------|:----|:---------|:--|: