Company: IMG
Filing Date: 2025-07-30
Form Type: 10-K/A
Source: 0001641172-25-021542
Chunk: 113

Company: CIMG Inc.
Filing Date: 2025-07-30
Form: 10-K/A
Chunk 113
---
57,307 |     |   |     5,909 |
| Total          |     | $ | 4,548,035 |     | $ |   772,825 |

As
of September 30, 2024, the provision for inventory obsolescence was $815,498, mainly because we have cleared raw materials and finished products from Vista, California. Impairment loss on inventory as of
September 30, 2024 consists of :

SCHEDULE OF IMPAIRMENT LOSS ON INVENTORY

|                |     | September 
 30,       
 2024      |         |     | September 
 30,       
 2023      |   |
|:---------------|:----|:----------|--------:|:----|:----------|:--|
| Raw materials  |     |           | 798,510 |     |           | - |
| Finished goods |     |           |  16,988 |     |           | - |
| Total          |     | $         | 815,498 |     | $         | - |

Property and equipment, net

Property and equipment are stated at cost, net
of accumulated depreciation. Office equipment is depreciated over a 3-year
life, furniture over a 7-year
life, and other equipment over a 5-year
life. Depreciation expense for the years ended September 30, 2024 and 2023 were $160,548
and $184,488,
respectively. Property and equipment as of September 30, 2024 and 2023 consist of:

SCHEDULE OF PROPERTY AND EQUIPMENT

|                                       |     |   |  September 
        30. 
       2024 |   |     |   |  September 
        30, 
       2023 |   |
|:--------------------------------------|:----|:--|-----------:|:--|:----|:--|-----------:|:--|
| Machinery & Equipment                 |     | $ |  1,465,566 |   |     | $ |  1,145,723 |   |
| Vehicles                              |     |   |     57,431 |   |     |   |     57,431 |   |
| Leasehold Improvements                |     |   |          - |   |     |   |          - |   |
| Less - Accumulated Depreciation       |     |   | (1,