Company: IMG
Filing Date: 2025-07-21
Form Type: 10-K
Source: 0001641172-25-020300
Chunk: 1001

Company: CIMG Inc.
Filing Date: 2025-07-21
Form: 10-K
Item: Item 9A
Chunk 1001
---
 Non-Current Assets Held for Sale 
     214,709  
            - 
  
    Property and equipment asset impairment 
     (203,973) 
     - 
  
    Total 
     10,736  
     - 

Major Customers

For the years ended September 30, 2024 and
2023, the Company’s largest single source of revenue was from one major customer  disclosed below.

For the year ended September 30, 2024:

 SCHEDULE OF REVENUE BY MAJOR CUSTOMERS

    Customer Name 
    Sales Amount  
    % of Total Revenue  
    Accounts Receivable Amount  
    % of Total Accounts Receivable 
  
    Customer CN 
    $1,149,585  
     59.55% 
     -  
     -
  
    Customer WP 
    $196,793  
     10.19% 
     -  
     - 

For
the year ended September 30, 2023:

    Customer Name 
    Sales Amount  
    % of Total Revenue  
    Accounts Receivable Amount  
    % of Total Accounts Receivable 
  
    Customer WP 
    $508,816  
     28.94% 
    $112,412  
     22.5%
  
    Customer CN 
    $567,108  
     32.26% 
    $114,313  
     22.88%
  
    Customer AD 
    $437,417  
     24.88% 
     -  
     - 

    F-8

Leases

In February 2016, the FASB issued ASU No. 2016-02,
Leases (Topic 842), to provide guidance on recognizing lease assets and lease liabilities on the consolidated balance sheet and disclosing
key information about leasing arrangements, specifically differentiating between different types of leases. The Company implemented ASU
No. 2016-02 on October 1, 2019.

The Company conducts a quarterly analysis of leases
to determine if there are any operating leases that require recognition under ASC 842. The Company has a long-term operating lease for
office and manufacturing space in Plano, Texas. The leased property in Plano, Texas, has a remaining lease term through June 2024 and
Tenancy terminated. The Company did not apply the recognition requirements