Company: IMG
Filing Date: 2025-08-26
Form Type: 10-Q
Source: 0001641172-25-025514
Chunk: 57

Company: CIMG Inc.
Filing Date: 2025-08-26
Form: 10-Q
Item: Item 8
Chunk 57
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ao intend to transfer an aggregate of 51% of their equity interest in Huomao
to Zhongyan in exchange for 200,000 shares of Common Stock. The Common Stock shall be subject to a six-month lock-up period.

On
March 21, 2025, Zhongyan Shangyue Technology Co., Ltd. established a wholly-owned subsidiary, Henan Zhongyan Shangyue Technology Co.
Ltd.

On
March 27, 2025, Zhongyan Shangyue Technology Co., Ltd. entered into a Business Cooperation Intent Agreement (the “Agreement”)
with Xilin Online (Beijing) E-commerce Co., Ltd (“Beijing Xilin”). Pursuant to the Agreement, certain shareholders of Beijing
Xilin intend to transfer an aggregate of 51% of their equity interest in Beijing Xilin to Zhongyan.

On
March 31, 2025, the Company completed its acquisition of Beijing Xilin, along with the necessary business registration updates in China.

On
April 22, 2025, the Company completed its acquisition of Shanghai Huomao, along with the necessary business registration updates in China.

22

PART
II. OTHER INFORMATION

Item
1. LEGAL PROCEEDINGS

Refer
to “Note 10. Contingencies” and “Note 11. Subsequent Events – Legal Proceedings” in our Condensed Consolidated
Financial Statements included in this Report.

Item
1A. RISK FACTORS

In
addition to the other information set forth in this Form 10-Q, you should carefully consider the risk factors discussed in Part I, Item
1A of our Form 10-K, which could affect our business, financial condition, or operating results. The risks we describe in our periodic
reports are not the only risks we face. Additional risks and uncertainties not currently known to us or that we currently deem to be
immaterial may also materially adversely affect our business, financial condition, or operating results. For the quarter ended December
31, 2024, the Company is not aware of any specific new and additional risk factors that were not previously disclosed.

Item
2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

None.

Item
3. DEFAULTS UPON SENIOR SECURITIES

None.

Item
4. MINE SAFETY DISCLOSURES

Not
applicable.

Item
5