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

Company: CIMG Inc.
Filing Date: 2025-09-24
Form: 10-Q
Item: Item 1
Chunk 24
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 a straight-line basis over their respective estimated useful lives. The goodwill recognized results from such factors
as an assembled workforce and management’s industry know-how.

3.
LOANS

On February 15, 2024, Social E-commerce Co., Ltd. provided a short-term, interest-free loan to the Company. The loan,
approved by the lender and serviced by Bill.com Capital 3, LLC through their online platform, was intended to support the Company’s
operations. As of March 31, 2025, the outstanding balance of this loan was $103,889.

On
April 18, 2024, SOONCHA KIM lent the company $320,000 with an annual interest rate of 7%. The outstanding balance on the loan at March
31, 2025 amounted to $320,926.

For
six months ended March 31, 2025, ZHANG XIANG lent the company $8,696 with an annual interest rate of 0%. The outstanding balance on the
loan at March 31, 2025 amounted to $8,696.

    15

4.
GEOGRAPHIC CONCENTRATIONS

The
Company is organized based on fundamentally one business segment although it does sell its products on a world-wide basis. The Company
is organized in two geographical segments. The company jointly produces and sells its products in North America and China. Information
about the Company’s geographic operations for the six months ended March 31, 2025, and 2024 are as follows:

SCHEDULE OF GEOGRAPHICAL OPERATIONS 

Geographic
Concentration

    Six
    Months Ended March 31, 2025  
    Six
    Months Ended March 31, 2024 
  
    Net Revenue: 

    North America 
    $-  
    $1,289,338 
  
    P.R.C 
     22,853  
     - 
  
    Revenues, net  
    $22,853  
    $1,289,338 

    Property and
    equipment, net: 
    March 31,
                                                                                2025  
    September
    30,
 2024 
  
    P.R.C 
     2,468  
     2,268 
  
    Property and equipment, net  
    $2,468  
    $2,268 

5.
RELATED PARTY TRANSACTIONS

As
of March