10-Q Filing

CIMG INC. CIK: 1527613 Q2 2017

Filing Information

Form Type	10-Q
Accession Number	`0001127855-17-000154`
Period End Date	20170331
Filing Date	20170519
Fiscal Year	2017
Fiscal Period	Q2
XBRL Instance	nuze-20170331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 65 Income Statement 48 Cash Flow Statement 58

Balance Sheet 65 line items

Line Item	Tag	Value	Unit	Period
Preferred Stock, Par Value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Preferred Stock, Par Value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	100.00M	shares	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	100.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$107.68K	USD	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$40.61K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$152.04K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$57.05K	USD	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$57.71K	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$214.16K	USD	Point-in-time
Preferred Stock, Shares Outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred Stock, Shares Outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Inventories	`InventoryNet`	$206.36K	USD	Point-in-time
Inventories	`InventoryNet`	$360.70K	USD	Point-in-time
Common Stock, Par Value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Common Stock, Par Value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Prepaid expenses and deposits	`PrepaidExpenseAndOtherAssetsCurrent`	$65.73K	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Prepaid expenses and deposits	`PrepaidExpenseAndOtherAssetsCurrent`	$172.68K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$370.41K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$899.59K	USD	Point-in-time
Common Stock, Shares Issued	`CommonStockSharesIssued`	34.17M	shares	Point-in-time
Common Stock, Shares Issued	`CommonStockSharesIssued`	31.15M	shares	Point-in-time
Equipment, net	`PropertyPlantAndEquipmentNet`	$151.95K	USD	Point-in-time
Equipment, net	`PropertyPlantAndEquipmentNet`	$280.08K	USD	Point-in-time
Common Stock, Shares Outstanding	`CommonStockSharesOutstanding`	34.17M	shares	Point-in-time
Common Stock, Shares Outstanding	`CommonStockSharesOutstanding`	31.15M	shares	Point-in-time
Investment in unconsolidated affiliate	`InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures`	$2.11K	USD	Point-in-time
Goodwill	`Goodwill`	$52.42K	USD	Point-in-time
Total other assets	`OtherAssets`	$54.53K	USD	Point-in-time
Total assets	`Assets`	$522.35K	USD	Point-in-time
Total assets	`Assets`	$1.23M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$189.32K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$294.56K	USD	Point-in-time
Loan payable - short term - Related party	`LoansPayableCurrent`	$207.81K	USD	Point-in-time
Loan payable - short term - Related party	`LoansPayableCurrent`	$145.38K	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$35.41K	USD	Point-in-time
Convertible Notes payable - Related party	`NotesPayableRelatedPartiesClassifiedCurrent`	$603.01K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$7.34K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$65.77K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$945.04K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$603.54K	USD	Point-in-time
Loan payable, net of current portion	`LongTermLoansPayable`	$167.54K	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$167.54K	USD	Point-in-time
Total Liabilities	`Liabilities`	$771.09K	USD	Point-in-time
Total Liabilities	`Liabilities`	$945.04K	USD	Point-in-time
Common stock	`CommonStockValue`	$311.00	USD	Point-in-time
Common stock	`CommonStockValue`	$342.00	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$6.91M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$8.47M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-7.26M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-7.98M	USD	Point-in-time
Less: treasury stock, at cost	`TreasuryStockValue`	$-69.11K	USD	Point-in-time
Less: treasury stock, at cost	`TreasuryStockValue`	$-69.11K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-19.61K	USD	Point-in-time
Total shareholders' equity (deficit)	`ShareholdersEquityFairValueDisclosure`	$-422.69K	USD	Point-in-time
Total shareholders' equity (deficit)	`ShareholdersEquityFairValueDisclosure`	$398.06K	USD	Point-in-time
Noncontrolling interest	`RedeemableNoncontrollingInterestEquityFairValue`	$65.05K	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$463.11K	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-422.69K	USD	Point-in-time
Total liabilities and stockholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$1.23M	USD	Point-in-time
Total liabilities and stockholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$522.35K	USD	Point-in-time

Income Statement 48 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$376.33K	USD	1 Quarter
Revenues	`Revenues`	$95.41K	USD	2 Qtrs
Revenues	`Revenues`	$50.95K	USD	1 Quarter
Revenues	`Revenues`	$953.83K	USD	2 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$59.34K	USD	2 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$742.46K	USD	2 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$325.59K	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$30.28K	USD	1 Quarter
Gross Profit	`GrossProfit`	$211.37K	USD	2 Qtrs
Gross Profit	`GrossProfit`	$20.68K	USD	1 Quarter
Gross Profit	`GrossProfit`	$36.07K	USD	2 Qtrs
Gross Profit	`GrossProfit`	$50.73K	USD	1 Quarter
Operating expenses	`OperatingExpenses`	$922.21K	USD	2 Qtrs
Operating expenses	`OperatingExpenses`	$413.87K	USD	1 Quarter
Operating expenses	`OperatingExpenses`	$359.46K	USD	1 Quarter
Operating expenses	`OperatingExpenses`	$681.04K	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-338.79K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-710.83K	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-644.96K	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-363.14K	USD	1 Quarter
Other income	`OtherIncome`	$13.11K	USD	1 Quarter
Other income	`OtherIncome`	$276.00	USD	2 Qtrs
Other income	`OtherIncome`	$48.00	USD	1 Quarter
Other income	`OtherIncome`	$30.96K	USD	2 Qtrs
Equity in loss of unconsolidated affiliate	`AffiliateCosts`	$-32.72K	USD	1 Quarter
Equity in loss of unconsolidated affiliate	`AffiliateCosts`	$-47.89K	USD	2 Qtrs
Other expense	`OtherExpenses`	$-2.85K	USD	2 Qtrs
Other expense	`OtherExpenses`	$-3.90K	USD	2 Qtrs
Other expense	`OtherExpenses`	$-2.54K	USD	1 Quarter
Other expense	`OtherExpenses`	$800.00	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-731.67K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-337.94K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-647.54K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-385.29K	USD	1 Quarter
Net loss attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-8.43K	USD	1 Quarter
Net loss attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-14.85K	USD	2 Qtrs
Net loss attributable to controlling interest	`NetIncomeLossAttributableToParentDiluted`	$-716.82K	USD	2 Qtrs
Net loss attributable to controlling interest	`NetIncomeLossAttributableToParentDiluted`	$-647.54K	USD	2 Qtrs
Net loss attributable to controlling interest	`NetIncomeLossAttributableToParentDiluted`	$-376.87K	USD	1 Quarter
Net loss attributable to controlling interest	`NetIncomeLossAttributableToParentDiluted`	$-337.94K	USD	1 Quarter
Basic and diluted loss per common share	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	1 Quarter
Basic and diluted loss per common share	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	1 Quarter
Basic and diluted loss per common share	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	2 Qtrs
Basic and diluted loss per common share	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	2 Qtrs
Basic and diluted weighted average number of common stock outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	30.40M	shares	2 Qtrs
Basic and diluted weighted average number of common stock outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	32.93M	shares	1 Quarter
Basic and diluted weighted average number of common stock outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	32.74M	shares	2 Qtrs
Basic and diluted weighted average number of common stock outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	30.39M	shares	1 Quarter

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-731.67K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-337.94K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-647.54K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-385.29K	USD	1 Quarter
Depreciation and Amortization	`DepreciationAndAmortization`	$20.99K	USD	2 Qtrs
Depreciation and Amortization	`DepreciationAndAmortization`	$35.47K	USD	2 Qtrs
Option expense	`StockOptionPlanExpense`	$25.81K	USD	2 Qtrs
Option expense	`StockOptionPlanExpense`	$12.20K	USD	2 Qtrs
Interest expense	`InterestExpense`	$3.63K	USD	2 Qtrs
Inventory impairment	`TangibleAssetImpairmentCharges`	$4.11K	USD	2 Qtrs
Equity in loss of unconsolidated affiliate	`AffiliateCosts`	$-32.72K	USD	1 Quarter
Equity in loss of unconsolidated affiliate	`AffiliateCosts`	$-47.89K	USD	2 Qtrs
Accounts receivable (increase/decrease)	`IncreaseDecreaseInAccountsReceivable`	$-95.68K	USD	2 Qtrs
Accounts receivable (increase/decrease)	`IncreaseDecreaseInAccountsReceivable`	$6.44K	USD	2 Qtrs
Inventories (increase/decrease)	`IncreaseDecreaseInInventories`	$79.50K	USD	2 Qtrs
Inventories (increase/decrease)	`IncreaseDecreaseInInventories`	$-35.16K	USD	2 Qtrs
Prepaid expenses and deposits (increase/decrease)	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$158.00	USD	2 Qtrs
Prepaid expenses and deposits (increase/decrease)	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-31.21K	USD	2 Qtrs
Accounts payable (increase/decrease)	`IncreaseDecreaseInAccountsPayable`	$21.20K	USD	2 Qtrs
Accounts payable (increase/decrease)	`IncreaseDecreaseInAccountsPayable`	$-15.85K	USD	2 Qtrs
Other current liabilities (increase/decrease)	`IncreaseDecreaseInOtherCurrentLiabilities`	$96.38K	USD	2 Qtrs
Other current liabilities (increase/decrease)	`IncreaseDecreaseInOtherCurrentLiabilities`	$-25.78K	USD	2 Qtrs
Net cash used by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-548.77K	USD	2 Qtrs
Net cash used by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-680.34K	USD	2 Qtrs
Purchase of equipment	`PaymentsToAcquireMachineryAndEquipment`	$-2.85K	USD	2 Qtrs
Purchase of equipment	`PaymentsToAcquireMachineryAndEquipment`	$-135.73K	USD	2 Qtrs
Acquisition of investment in unconsolidated affiliate	`BusinessCombinationAcquisitionRelatedCosts`	$-50.00K	USD	2 Qtrs
Net cash acquired from business acquisition	`CashAcquiredFromAcquisition`	$201.68K	USD	2 Qtrs
Net cash used by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$15.95K	USD	2 Qtrs
Net cash used by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.85K	USD	2 Qtrs
Proceeds from issuance of Loan - short term - Related party	`ProceedsFromIssuanceOfDebt`	$100.00K	USD	2 Qtrs
Proceeds from issuance of Loan - short term - Related party	`ProceedsFromIssuanceOfDebt`	$180.82K	USD	2 Qtrs
Repayment of loans - short term - Related party	`RepaymentsOfRelatedPartyDebt`	$-119.00K	USD	2 Qtrs
Repayment of loans - short term - Related party	`RepaymentsOfRelatedPartyDebt`	$-30.00K	USD	2 Qtrs
Proceeds from issuance of Loan	`ProceedsFromLoans`	$89.88K	USD	2 Qtrs
Repayment of loans - short term	`RepaymentsOfShortTermDebt`	$-15.00K	USD	2 Qtrs
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$431.00K	USD	2 Qtrs
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$680.51K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$501.00K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$817.21K	USD	2 Qtrs
Effect of foreign exchange on cash and cash equivalents	`ForeignCurrencyTransactionGainLossBeforeTax`	$-41.39K	USD	2 Qtrs
Net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-50.62K	USD	2 Qtrs
Net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$111.43K	USD	2 Qtrs
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$107.68K	USD	Point-in-time
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$40.61K	USD	Point-in-time
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$152.04K	USD	Point-in-time
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$57.05K	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$107.68K	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$40.61K	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$152.04K	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$57.05K	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$1.13K	USD	2 Qtrs
Cash paid for taxes	`IncomeTaxesPaid`	$800.00	USD	2 Qtrs
Cash paid for taxes	`IncomeTaxesPaid`	$800.00	USD	2 Qtrs
Acquisition through issuance of common shares	`StockIssuedDuringPeriodValueAcquisitions`	-	USD	2 Qtrs
Acquisition through issuance of common shares	`StockIssuedDuringPeriodValueAcquisitions`	$258.46K	USD	2 Qtrs
Software purchased with installment agreement	`PaymentsToAcquireSoftware`	$14.81K	USD	2 Qtrs
Conversion of note payable	`ProceedsFromNotesPayable`	$606.00K	USD	2 Qtrs

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.