Company: IMG
Filing Date: 2025-11-18
Form Type: 10-Q/A
Source: 0001493152-25-024063
Chunk: 38

Company: CIMG Inc.
Filing Date: 2025-11-18
Form: 10-Q/A
Chunk 38
---
 ) |
| Cash provided by financing activities                     |     | $                  |  1,191,312 |   |     | $ |  1,659,855 |   |
| Cash used in operating activities-discontinued operations |     | $                  |          - |   |     |   |    (68,582 | ) |
| Effect of foreign exchange on cash                        |     | $                  |   (192,038 | ) |     | $ |     42,408 |   |
| Net change in cash                                        |     | $                  |   (339,507 | ) |     | $ |   (866,802 | ) |

| 28 |

Operating Activities

Net cash used in operating activities from continuing operations was $1,338,781 for the three months ended December 31, 2024, compared to $2,193,439 for the same period in 2023. The cash outflows were primarily related to purchases of raw materials and inventory, office rent, legal fees, and other professional expenses. Operating activities from discontinued operations provided no cash inflow and cash outflows for the three months ended December 31, 2024, compared to $68,582 of cash outflows during the corresponding period in 2023.

Investing Activities

Net cash provided by investing activities was $Nil for the three months ended December 31, 2024, compared to net cash used of $307,044 for the same period in 2023. Cash used in the prior-year period was mainly attributable to purchases of equipment.

Financing Activities

Historically, we have funded our operations through the issuance of our equity securities.

Net cash provided by financing activities was $1,191,312 for the three months ended December 31, 2024, primarily attributable to proceeds from a private placement. For the three months ended December 31, 2023, net cash provided by financing activities totaled $1,659,855, was primarily related to the issuance of equity securities.

Off-Balance Sheet Arrangements

As of December 31, 2024, we had no off-balance sheet arrangements that may have a current or future material effect on our financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources.

Critical Accounting Policies and Estimates

Our discussion and analysis of our financial condition and results of operations are based upon our financial statements that have been prepared in accordance with generally accepted accounting principles in the United States of America (“