CIMG lnc(IMG)

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CIMG Inc. Appoints Mr. Wenlong Tong as its President
Prnewswire· 2025-10-09 12:30
, /PRNewswire/ -- CIMG Inc. ("CIMG" or the "Company") (Nasdaq: IMG), a business group specializing in digital health and sales development, which utilizes technology and marketing to enhance its partners' sales growth and commercial value, today announced the board of directors has appointed Mr. Wenlong Tong as President of CIMG. The appointment of Mr. Wenlong Tong aims to improve the company's diversified industrial layout and enhance its competitiveness in digital assets. With years of entrepreneurial ex ...
CIMG Inc. Establishes Hong Kong Subsidiary Braincoin Limited to Expand Global Computing Power Ecosystem
Prnewswire· 2025-09-30 13:00
Core Viewpoint - CIMG Inc. has established a subsidiary, Braincoin Limited, in Hong Kong to enhance its strategic expansion into the global computing power industry and advance its AI initiatives [1][2][4] Group 1: Company Expansion - The new subsidiary will act as a hub connecting mainland China with international markets, facilitating collaboration with global partners [2] - This move emphasizes the company's commitment to building a global computing power ecosystem and delivering cutting-edge AI solutions [4] Group 2: Business Models - Braincoin will operate under several business models starting in October, including the development and operation of AI computing centers for enterprises with high computing power demands [3][8] - The company will provide customized multi-modal enterprise AI assistants by integrating large AI models with clients' internal and industry-specific datasets [8] - Managed services will be offered to existing AI computing center clients, focusing on maintenance and operational support to enhance efficiency and reduce costs [8]
CIMG Inc. Entered Into an MOU With iZUMi to Launch a $20 Million Upstarts Fund
Prnewswire· 2025-09-17 15:58
Core Insights - CIMG Inc. has announced a memorandum of understanding (MOU) to collaborate with iZUMi Group Ltd. [1] Company Overview - CIMG Inc. specializes in digital health and sales development, leveraging technology and marketing to enhance sales growth and commercial value for its partners [1]
CIMG Inc. Completes the Previously Announced Sale of $55 Million of its Common Stock for 500 Bitcoin
Prnewswire· 2025-09-02 18:23
Core Viewpoint - CIMG Inc. has successfully closed the sale of 220 million shares of its common stock for gross proceeds of $55 million, receiving payment in Bitcoin as part of its financial management strategy [1][2]. Group 1: Company Overview - CIMG Inc. specializes in digital health and sales development, leveraging technology and marketing to enhance partners' sales growth and commercial value [3]. - The company operates several brands, including Kangduoyuan, Maca-Noni, Qianmao, Huomao, and Coco-mango [3]. Group 2: Financial Strategy - The receipt of Bitcoin for shares is part of CIMG's long-term financial strategy, aiming to build a robust Bitcoin reserve to establish a solid value foundation for investors [2]. - The company plans to continue increasing its digital asset reserves and pursue collaborations within AI and crypto ecosystems, such as Merlin Chain [2]. Group 3: Leadership Insights - Wang Jianshuang, Chairwoman and CEO, emphasized the integration of traditional enterprises with the blockchain ecosystem, aiming to pioneer Bitcoin financial applications [2].
CIMG lnc(IMG) - 2025 Q3 - Quarterly Report
2025-09-24 16:35
PART I. FINANCIAL INFORMATION [Cautionary Note Regarding Forward-Looking Statements](index=4&type=section&id=Cautionary%20Note%20Regarding%20Forward-Looking%20Statements) This section cautions that forward-looking statements are not guarantees of future performance and are subject to various risks and uncertainties, with no obligation for updates - Forward-looking statements are based on information available at the time they are made and management's good faith belief, subject to risks and uncertainties that could cause actual results to differ materially[10](index=10&type=chunk) - The company does not undertake any obligation to update or revise forward-looking statements, cautioning against undue reliance on them[11](index=11&type=chunk) - Key factors that could cause differences include funding plans, capital resources, estimates accuracy, Nasdaq listing compliance, economic conditions, market preferences, competition, strategic transaction results, reliance on third-party partners, regulatory developments, retention of key personnel, intellectual property protection, corporate infrastructure, litigation outcomes, financial performance, and use of offering proceeds[12](index=12&type=chunk) [Item 1. FINANCIAL STATEMENTS](index=5&type=section&id=Item%201.%20FINANCIAL%20STATEMENTS) This section presents CIMG Inc.'s unaudited consolidated financial statements, including Balance Sheets, Statements of Operations, Comprehensive Loss, Changes in Stockholders' Equity, and Cash Flows, with detailed notes for the quarter ended December 31, 2024 [Consolidated Balance Sheets (unaudited)](index=5&type=section&id=Consolidated%20Balance%20Sheets%20%28unaudited%29) - Cash & cash equivalents decreased significantly from **$464,222 to $124,715** - Total stockholders' equity turned positive, increasing from an accumulated deficit of **$(650,668) to $1,527,570** | ASSETS (Unaudited) | December 31, 2024 ($) | September 30, 2024 ($) | | :------------------- | :-------------------- | :--------------------- | | Cash & cash equivalent | 124,715 | 464,222 | | Inventories, net | 4,608,307 | 4,548,035 | | Total current assets | 5,034,920 | 5,405,641 | | Total assets | 5,167,814 | 5,587,655 | | **LIABILITIES AND STOCKHOLDERS' EQUITY** | | | | Accounts payable and accrued expenses | 1,820,200 | 2,240,337 | | Short term loan | 433,512 | 1,920,507 | | Convertible Notes | 678,308 | 1,063,624 | | Total current liabilities | 3,640,244 | 6,238,323 | | Total liabilities | 3,640,244 | 6,238,323 | | Total stockholders' equity | 1,527,570 | (650,668) | [Consolidated Statements of Operations (unaudited)](index=6&type=section&id=Consolidated%20Statements%20of%20Operations%20%28unaudited%29) - Net revenues decreased significantly from **$965,932 in Q4 2023 to $22,853 in Q4 2024** - Net loss improved from **$(2,148,611) in Q4 2023 to $(1,536,249) in Q4 2024**, and basic/diluted loss per share improved from **$(1.84) to $(0.17)** | (Unaudited) | Three Months Ended Dec 31, 2024 ($) | Three Months Ended Dec 31, 2023 ($) | | :------------ | :---------------------------------- | :---------------------------------- | | Revenues, net | 22,853 | 965,932 | | Cost of sales | (7,374) | (841,398) | | Gross profit | 15,479 | 124,534 | | Operating expenses | (1,517,758) | (2,145,642) | | Loss from operations | (1,502,279) | (2,021,108) | | Net loss | (1,536,249) | (2,148,611) | | Basic and diluted loss per common share | (0.17) | (1.84) | [Consolidated Statements of Comprehensive Loss (unaudited)](index=7&type=section&id=Consolidated%20Statements%20of%20Comprehensive%20Loss%20%28unaudited%29) - The foreign currency translation adjustment resulted in a **loss of $(192,038) in Q4 2024**, compared to a **gain of $42,408 in Q4 2023** | (Unaudited) | Three Months Ended Dec 31, 2024 ($) | Three Months Ended Dec 31, 2023 ($) | | :------------ | :---------------------------------- | :---------------------------------- | | Net loss | (1,536,249) | (2,148,611) | | Foreign currency translation | (192,038) | 42,408 | | Total other comprehensive income (loss), net of tax | (192,038) | 42,408 | | Comprehensive loss | (1,728,287) | (2,106,203) | [Consolidated Statements of Changes in Stockholders' Equity (unaudited)](index=8&type=section&id=Consolidated%20Statements%20of%20Changes%20in%20Stockholders%27%20Equity%20%28unaudited%29) - Total common stock shares outstanding increased from **4,978,245 to 10,739,800** during the quarter[23](index=23&type=chunk) - Additional paid-in capital increased by **$3,906,468**, primarily from common stock issued for cash, compensation, and private placement[23](index=23&type=chunk) - Total stockholders' equity improved from a deficit of **$(650,668) to a positive balance of $1,527,570**[23](index=23&type=chunk) | (Unaudited) | Balance Sep 30, 2024 ($) | Common Stock issued for cash ($) | Common stock compensation ($) | Issued private placement ($) | Issued warrants ($) | Other comprehensive income ($) | Net loss ($) | Balance Dec 31, 2024 ($) | | :------------ | :----------------------- | :------------------------------- | :---------------------------- | :--------------------------- | :------------------ | :----------------------------- | :----------- | :----------------------- | | Common Stock Shares | 4,978,245 | 1,396,813 | 800,000 | 3,508,769 | 55,973 | - | - | 10,739,800 | | Amount | 50 | 13 | 8 | 35 | 1 | - | - | 107 | | Additional paid-in capital | 81,260,605 | 1,382,831 | 523,672 | 1,999,965 | - | - | - | 85,167,073 | | Accumulated deficit | (82,344,722) | - | - | - | - | - | (1,536,249) | (83,880,971) | | Accumulated Comprehensive income | 433,399 | - | - | - | - | (192,038) | - | 241,361 | | Total | (650,668) | 1,382,844 | 523,680 | 2,000,000 | 1 | (192,038) | (1,536,249) | 1,527,570 | [Consolidated Statements of Cash Flows (unaudited)](index=9&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows%20%28unaudited%29) - Net cash used in operating activities decreased from **$(2,193,439) in Q4 2023 to $(1,338,781) in Q4 2024**[26](index=26&type=chunk) - Investing activities showed no cash usage in Q4 2024, a significant change from **$(307,044) used in Q4 2023**[26](index=26&type=chunk) - Cash at the end of the period was **$124,715**, a decrease from the beginning of the period but an increase compared to **$116,067 in Q4 2023**[26](index=26&type=chunk) | (Unaudited) | Three Months Ended Dec 31, 2024 ($) | Three Months Ended Dec 31, 2023 ($) | | :------------ | :---------------------------------- | :---------------------------------- | | Net cash used in operating activities | (1,338,781) | (2,193,439) | | Net cash used in investing activities | 0 | (307,044) | | Net cash provided by financing activities | 1,191,312 | 1,65
CIMG Inc. Enters MoU with FLock for Privacy Preserving AI Solutions and FLOCK Treasury Strategy
Prnewswire· 2025-08-26 12:30
BEIJING, Aug. 26, 2025 /PRNewswire/ -- CIMG Inc. ("CIMG" or the "Company") (NASDAQ: IMG), a company with a heritage in specialty coffee and an emerging business in broader consumer food and beverage products, today announced that it has signed a non-binding Memorandum of Understanding (MoU) with FLock Technology Holdings ("FLock"), for the Company to engage Flock as its privacy-preserving AI total solution provider. The Company intents to collaborate with Flock to jointly develop LifeNode, an artificial int ...
CIMG lnc(IMG) - 2024 Q4 - Annual Report
2025-07-18 22:10
Preliminary Information & China-Related Context [Cover Page & Filing Details](index=1&type=section&id=Cover%20Page%20%26%20Filing%20Details) CIMG Inc. files its annual report as a non-accelerated, smaller reporting company for FY2024, with common stock listed on Nasdaq - CIMG Inc. is filing its annual report on Form 10-K for the fiscal year ended September 30, 2024[2](index=2&type=chunk) - The company's common stock (IMG) is registered on The Nasdaq Stock Market LLC[4](index=4&type=chunk) Registrant Status | Status | Indicator | | :-------------------- | :-------- | | Well-known seasoned issuer | No | | Not required to file reports | No | | Filed all required reports | No | | Submitted Interactive Data File | No | | Large accelerated filer | No | | Accelerated filer | No | | Non-accelerated filer | Yes | | Smaller reporting company | Yes | | Emerging growth company | No | - As of March 31, 2024, the aggregate market value of common stock held by non-affiliates was approximately **$5.81 million**[8](index=8&type=chunk) - As of July 2, 2025, there were **36,397,418 shares** of common stock outstanding[9](index=9&type=chunk) [China-Related Operational & Regulatory Risks](index=4&type=section&id=China-Related%20Operational%20%26%20Regulatory%20Risks) CIMG Inc. faces significant operational and regulatory risks in China, including cybersecurity, overseas listing, and cash transfer restrictions - The company's PRC Subsidiaries are subject to legal and operational risks due to being based in China, including potential cybersecurity reviews and anti-monopoly supervision[12](index=12&type=chunk)[14](index=14&type=chunk)[15](index=15&type=chunk) - The company's PRC counsel advises that it is not currently subject to CAC cybersecurity review as it does not possess personal information of over one million users nor does its business affect national security[12](index=12&type=chunk)[16](index=16&type=chunk) - Uncertainties in the interpretation of PRC laws, particularly the CSRC's Trial Administrative Measures of Overseas Securities Offering and Listing by Domestic Companies, could require future filings and materially impact the company's ability to offer securities[13](index=13&type=chunk)[16](index=16&type=chunk) - Cash transfers from PRC subsidiaries to the holding company are subject to PRC regulations, including dividend restrictions (e.g., funding statutory reserves) and foreign exchange controls, limiting the ability to distribute earnings[17](index=17&type=chunk)[19](index=19&type=chunk) - The company's auditor, Assentsure PAC, is headquartered in Singapore and is subject to PCAOB inspections, mitigating immediate delisting risks under the HFCA Act, but future obstructions to PCAOB access could still lead to delisting[29](index=29&type=chunk)[30](index=30&type=chunk) Cash Transfers Between Company and Subsidiaries | Fiscal Year Ended September 30 | Amount (USD) | | :----------------------------- | :------------- | | 2024 | $220,000 | | 2023 | $0 | [Cautionary Note Regarding Forward-Looking Statements](index=8&type=section&id=Cautionary%20Note%20Regarding%20Forward-Looking%20Statements) This section disclaims forward-looking statements in the report, noting they are subject to risks and uncertainties, with no obligation to update - The report contains forward-looking statements, which are not guarantees of future results and are subject to risks and uncertainties[32](index=32&type=chunk)[33](index=33&type=chunk)[36](index=36&type=chunk) - Key areas of forward-looking statements include funding plans, capital sufficiency, expense estimates, Nasdaq listing compliance, economic impact, market size, competition, product innovation, reliance on third parties, regulatory developments, personnel retention, intellectual property, internal controls, litigation, and financial performance[34](index=34&type=chunk) - Readers are cautioned not to place undue reliance on forward-looking statements, and the company disclaims any obligation to update them except as required by law[36](index=36&type=chunk) [References](index=10&type=section&id=References) This section defines key terms and abbreviations used throughout the report, including company entities, currencies, and regulatory bodies - The section provides definitions for key terms such as 'non-PRC Subsidiaries' (Wewin, DZR Tech, Singapore CIMG), 'PRC Subsidiaries' (Beijing Zhongyan, Henan Zhongyan, Beijing Xilin, Shanghai Huomao), and currency symbols[38](index=38&type=chunk) - It clarifies that 'we', 'us', 'our', 'CIMG', and 'the Company' refer to CIMG Inc. and its subsidiaries collectively[38](index=38&type=chunk) PART I [ITEM 1. BUSINESS.](index=8&type=section&id=ITEM%201.%20BUSINESS.) CIMG Inc. transformed its business from specialty coffee to distributing maca-enhanced food and beverages in Asia, securing exclusive rights and leveraging digital marketing - CIMG Inc. changed its name from 'Nuzee, Inc.' and ticker symbol from 'NUZE' to 'IMG' in October 2024, shifting its focus from specialty coffee to a broader range of consumer food and beverage products in Asia, particularly maca-enhanced items[39](index=39&type=chunk)[41](index=41&type=chunk) - The company sold its wholly-owned subsidiaries, NuZee KOREA Ltd. and NuZee Investment Co., Ltd., in June 2024[40](index=40&type=chunk) - CIMG secured exclusive distribution and sales rights for all maca products from Jiangsu Kangduoyuan Beverage Co., Ltd., including Maca Peptide Coffee, Maca-Noni, Maca Wine, and Maca Purified Powder[43](index=43&type=chunk)[50](index=50&type=chunk) - The company's strategy involves leveraging local relationships for long-term partnerships across Hong Kong, PRC, and other Asian markets, aiming to become a leading distributor of premium maca products[44](index=44&type=chunk)[55](index=55&type=chunk) - CIMG plans to expand its distribution network to include both online platforms (TikTok, Alibaba.com, Tencent, JD.com +AI) and offline channels (grocery stores, convenience stores, gas stations, vending machines)[52](index=52&type=chunk)[69](index=69&type=chunk) - The global maca market is projected to exceed **$106 million** by 2037, with a compound annual growth rate (CAGR) exceeding **4.2%** from 2025 to 2037[66](index=66&type=chunk) - CIMG's PRC subsidiary, Beijing Zhongyan, signed contracts with multiple PRC-based distribution companies to place Maca-Noni drinks in **25,000 uSmile PetroChina convenience stores**, **400 Guangdong Petroleum Co., Ltd stores**, **129 Chengdu Energy Gas Stations**, and over **300 self-service vending machines** within the next three years[76](index=76&type=chunk) - The company reported net losses of **$8.56 million** and **$8.75 million** for the years ended September 30, 2024 and 2023, respectively, with an accumulated deficit of approximately **$81.93 million** as of September 30, 2024[73](index=73&type=chunk) - CIMG holds **6 registered trademarks** and **4 registered domain names**, primarily in China, including '中烟商悦' and 'cocomango.cc'[78](index=78&type=chunk)[79](index=79&type=chunk)[80](index=80&type=chunk) - As of September 30, 2024, the company had **17 full-time employees**: **1 in the United States**, **4 in Hong Kong**, and **12 in mainland China**[81](index=81&type=chunk) - The company obtained a Food Business License from the Chaoyang District Market Supervision Administration of Beijing on August 23, 2024, allowing it to operate all Maca series products in China[85](index=85&type=chunk) - CIMG Inc. was incorporated in 2011 in Nevada, formerly known as NuZee, Inc., and changed its name and ticker symbol to 'CIMG Inc.' and 'IMG' effective October 31, 2024[86](index=86&type=chunk) - The company received multiple Nasdaq non-compliance notices in early 2025 for minimum bid price and untimely filing of 10-K and 10-Q reports, leading to a delist determination letter on June 27, 2025. CIMG intends to appeal and file its 10-K before July 7, 2025[89](index=89&type=chunk)[90](index=90&type=chunk)[91](index=91&type=chunk)[95](index=95&type=chunk)[96](index=96&type=chunk) - CIMG has **7 subsidiaries**, including wholly-owned entities in Florida, Hong Kong, and Singapore, and PRC subsidiaries (Beijing Zhongyan, Henan Zhongyan, Beijing Xilin, Shanghai Huomao) with varying ownership structures[97](index=97&type=chunk)[98](index=98&type=chunk) [ITEM 1A. RISK FACTORS](index=22&type=section&id=ITEM%201A.%20RISK%20FACTORS) This section details a comprehensive range of risks that could materially harm CIMG Inc.'s business, financial condition, and stock price - The company has a history of net losses and expects to continue incurring them, with an accumulated deficit of approximately **$81.93 million** as of September 30, 2024, raising substantial doubt about its ability to continue as a going concern without additional financing[101](index=101&type=chunk)[109](index=109&type=chunk)[112](index=112&type=chunk)[113](index=113&type=chunk) - Future success depends on continued innovation and timely launch of new maca-based products, with failure to do so potentially harming sales and profitability[102](index=102&type=chunk)[124](index=124&type=chunk) - The maca products industry is intensely competitive, with both international and local brands, and changes in consumer preferences and retail landscape could negatively impact financial results[102](index=102&type=chunk)[
CIMG Inc.全资子公司收购西邻在线51%股权
Zheng Quan Ri Bao· 2025-03-28 11:43
Core Insights - CIMG Inc. has signed a cooperation agreement with Xilin Online, acquiring a 51% stake in the company, aiming to leverage AI and big data technologies to expand their business and market reach [3] - Xilin Online focuses on providing one-stop digital transformation solutions for enterprises, integrating commercial models, technology platforms, and operational management [1] - CIMG Inc. is a global digital health and sales development group that utilizes technology and marketing to maximize user growth and brand management [1] Company Overview - Xilin Online specializes in e-commerce solutions, utilizing the strengths of major platforms like JD.com and Alibaba to enhance operational efficiency and reduce costs through AI-driven systems [1] - CIMG Inc. was established in 2011 and went public on NASDAQ in 2020, with a portfolio of brands including Kangduoyuan and Maca-Noni [1] Strategic Developments - The partnership between CIMG Inc. and Xilin Online is expected to enhance their capabilities in AI and big data, facilitating business expansion [3] - Following the agreement, Lyu Tianyong has been appointed as the CEO of Xilin Online, indicating a strategic leadership change to drive the new collaboration [3]
CIMG Inc. Announces that its Maca Beverages Have Been Awarded the 2024 China Annual Most Innovative New Consumer Brand Award
Prnewswire· 2025-01-15 12:50
Company Overview - CIMG Inc is a company with a heritage in specialty coffee and an emerging business in broader consumer food and beverage products [1] - The company is a digital marketing, sales, and distribution company for various consumer products with a focus on food and beverages [4] - CIMG has a professional branding and marketing management system that helps partnering enterprises achieve global marketing channel connections, management, and operations [4] Product and Innovation - Maca Noni, a plant-based energy drink, is the first of its kind launched by CIMG [2] - The product contains plant extracts such as maca and Noni, which help relieve physical fatigue and enhance immunity [2] - Maca Noni is ideal for consumers pursuing safe, healthy, and natural food options [2] - The product has been awarded the 2024 China Annual Most Innovative New Consumer Brand Award by iiMedia Research [1] Market and Distribution - Maca beverages are sold through multiple channels, including Lawson convenience stores in Beijing, Tianjin, and Hebei Province, as well as certain USmile PetroChina stores and vending machines [3] - The sales area for Maca beverages covers multiple regions in North China and South China [3] Leadership and Strategy - Ms Jianshang Wang, Chairwoman of the Board of Directors and CEO of CIMG, emphasized the company's commitment to integrating resources, optimizing business development, and enhancing performance [4] - The company aims to create greater value for shareholders through new strategies and technological applications in digital marketing and distribution [4]