Company: IMG
Filing Date: 2025-11-18
Form Type: 10-Q/A
Source: 0001493152-25-024067
Chunk: 27

Company: CIMG Inc.
Filing Date: 2025-11-18
Form: 10-Q/A
Chunk 27
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 and $65,948 for six months
ended March 31 2025, and 2024, respectively.

Warrants

On October 18, 2024, the holders of warrants issued by the Company exercised its cashless option to purchase an aggregate of 55,973shares of the Company’s common stock pursuant to warrants issued by the Company. Such warrants were previously issued pursuant to the convertible note and warrant purchase agreement dated April 27, 2024, as disclosed in the current report of the Company on Form 8-K filed with the SEC on May 2, 2024. In connection with such cashless exercise, the Company will not receive any cash proceeds. The shares of common stock issuable upon exercise of such warrants were registered under the Form S-1 effective on July 1, 2024.

On January 16, 2025, the Company issued the 13,679,486warrants to purchase common stock at an exercise price of $ 0.39a share. These warrants will expire on January 16, 2027.

On January 17, 2025, the Company issued the 11,961,537warrants to purchase common stock at an exercise price of $ 0.39a share. These warrants will expire on January 17, 2027.

The following table summarizes warrant activity for six months ended March 31, 2025:

SCHEDULE OF WARRANT ACTIVITY

|                                   |     | Number                           
 of Shares Issuable Upon Exercise 
 of Warrants                      |            |     | Weighted       
 Average        
 Exercise Price |        |     | Weighted Average Remaining 
 Contractual                
 Life (years)               |      |     | Aggregate 
 Intrinsic 
 Value     |   |
|:----------------------------------|:----|:---------------------------------|-----------:|:----|:---------------|-------:|:----|:---------------------------|-----:|:----|:----------|:--|
| Outstanding on September 30, 2024 |     |                                  |    214,850 |     | $              | 112.67 |     |                            | 2.42 |     | $         | - |
| Issued                            |     |                                  | 25,641,023 |     |                |   0.39 |     |                            |    - |     |           | - |
| Exercised                         |     |                                  |     55,973 |     |                |   1