Company: IMG
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001493152-25-020586
Chunk: 36

Company: CIMG Inc.
Filing Date: 2025-11-03
Form: 10-Q
Item: Item 1
Chunk 36
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500 (Nobuki
Kurita), and $50,250 (David Robson). Counsel represented that the total amount of the judgments, after calculation of daily interest,
should be $222,062.28. On October 17, 2025, the Court held a hearing on Plaintiffs’ motion for correction of judgment nunc pro tunc
pursuant to Code Civ. Proc. § 473(d) (ROA # 25). The court substantively granted the Motion, but with qualifying instructions. The
Court found that Plaintiffs met their burden to establish the sums due to each one of them, but held that the proposed amended judgment
was not in proper form. The Court directed Plaintiffs’ counsel to resubmit the form of judgment as specifying the sums due and owing
to each individual Plaintiff, and to do so via a single long form judgment (on pleading paper) that specifies the amounts due and owing
to each Plaintiff. It is expected that Plaintiffs’ counsel will submit the required amended form at any moment, and that judgment
on the amended amount is imminent.

22

PART
II. OTHER INFORMATION

Item
1. LEGAL PROCEEDINGS

Refer
to “Note 10. Contingencies” and “Note 11. Subsequent Events – Legal Proceedings” in our Condensed Consolidated
Financial Statements included in this Report.

Item
1A. RISK FACTORS

In
addition to the other information set forth in this Form 10-Q, you should carefully consider the risk factors discussed in Part I, Item
1A of our Form 10-K, which could affect our business, financial condition, or operating results. The risks we describe in our periodic
reports are not the only risks we face. Additional risks and uncertainties not currently known to us or that we currently deem to be
immaterial may also materially adversely affect our business, financial condition, or operating results. For the quarter ended June 30,
2025, the Company is not aware of any specific new and additional risk factors that were not previously disclosed.

Item
2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

(a)
Subsequent to the quarter ended June 30, 2025, the Company completed the following unregistered issuances of its equity
securities:

    ●
    On
    August 21, 2025, the Company entered into a Convertible Note Purchase Agreement with certain non