Company: IMG
Filing Date: 2025-11-07
Form Type: 10-Q/A
Source: 0001493152-25-021258
Chunk: 29

Company: CIMG Inc.
Filing Date: 2025-11-07
Form: 10-Q/A
Chunk 29
---
.32 |     |                            |    - |     |           | - |
| Expired                           |     |                                  |      1,150 |     |                |      - |     |                            |    - |     |           | - |
| Outstanding on June 30, 2025      |     |                                  | 25,798,750 |     | $              |   1.31 |     |                            | 1.55 |     |           | - |
| Exercisable on June 30, 2025      |     |                                  | 25,798,750 |     | $              |   1.31 |     |                            | 1.55 |     | $         | - |

10. CONTINGENCIES

Curtin Litigation

As previously disclosed, on January 6, 2023, a former employee of the Company, Rosalina Curtin filed a complaint against the Company and another former employee of the Company, Jose Ramirez, in the Superior Court of California, County of San Diego (Case No. 37-2023-00000841-CU-WT-NC) (the “Complaint”). The Complaint alleged that Ms. Curtin was subject to harassment by Mr. Ramirez, gender discrimination throughout her employment, that she reported this discrimination and harassment to the Company, and that the Company retaliated against her and wrongfully terminated her for whistleblowing and failed to prevent discrimination, harassment, and retaliation. Ms. Curtin sought compensatory damages, including loss of past, present and future earnings, and benefits, as well as punitive damages, penalties, attorney’s fees and costs and interest. Pursuant to the terms of Ms. Curtin’s Employment Agreement with the Company, on December 22, 2023, the Court compelled the case to arbitration with the American Arbitration Association (Case Number 01-24-0002-3225).

On November 8, 2024, without a finding or admission of wrongdoing, the Company entered into a settlement agreement with Ms. Curtin. In exchange for mutual general releases and a dismissal of the lawsuit with prejudice, the Company paid Ms. Curtin $ 125,000. On January 22, 2025, the case was dismissed in its entirety.

Kim Litigation

On October 3, 2024, Mr. Sooncha Kim filed a complaint against the Company in the Southern District of New York, (Case No. 1:24-cv