10-Q Filing

CIMG INC. CIK: 1527613 Q2 2018

Filing Information

Form Type	10-Q
Accession Number	`0001127855-18-000082`
Period End Date	20180331
Filing Date	20180516
Fiscal Year	2018
Fiscal Period	Q2
XBRL Instance	nuze-20180331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 82 Income Statement 56 Cash Flow Statement 82

Balance Sheet 82 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`	$515.29K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$347.33K	USD	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$152.04K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$40.61K	USD	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred Stock, Shares Outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$177.21K	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$143.89K	USD	Point-in-time
Preferred Stock, Shares Outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Accounts receivable - Related party	`AccountsReceivableRelatedPartiesCurrent`	$503.00	USD	Point-in-time
Common Stock, Par Value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Accounts receivable - Related party	`AccountsReceivableRelatedPartiesCurrent`	$12.38K	USD	Point-in-time
Common Stock, Par Value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Inventories, net	`InventoryNet`	$301.98K	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Inventories, net	`InventoryNet`	$266.62K	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common Stock, Shares Issued	`CommonStockSharesIssued`	34.72M	shares	Point-in-time
Common Stock, Shares Issued	`CommonStockSharesIssued`	37.12M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$102.93K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$172.73K	USD	Point-in-time
Other current assets - Related party	`OtherAssetsMiscellaneousCurrent`	$35.80K	USD	Point-in-time
Common Stock, Shares Outstanding	`CommonStockSharesOutstanding`	37.12M	shares	Point-in-time
Other current assets - Related party	`OtherAssetsMiscellaneousCurrent`	$29.38K	USD	Point-in-time
Common Stock, Shares Outstanding	`CommonStockSharesOutstanding`	34.72M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$1.20M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$902.52K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$556.76K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$277.99K	USD	Point-in-time
Goodwill	`Goodwill`	$17.11K	USD	Point-in-time
Goodwill	`Goodwill`	$17.11K	USD	Point-in-time
Customer List, net	`FiniteLivedCustomerListsGross`	$40.16K	USD	Point-in-time
Customer List, net	`FiniteLivedCustomerListsGross`	$45.90K	USD	Point-in-time
Investment in unconsolidated affiliate	`InvestmentsInAndAdvancesToAffiliatesAtFairValue`	-	USD	Point-in-time
Investment in unconsolidated affiliate	`InvestmentsInAndAdvancesToAffiliatesAtFairValue`	$10.73K	USD	Point-in-time
Total other assets	`OtherAssets`	$57.27K	USD	Point-in-time
Total other assets	`OtherAssets`	$73.74K	USD	Point-in-time
Total assets	`Assets`	$1.82M	USD	Point-in-time
Total assets	`Assets`	$1.25M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$134.78K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$104.97K	USD	Point-in-time
Loan payable - short term - Related party	`LoansPayableCurrent`	-	USD	Point-in-time
Loan payable - short term - Related party	`LoansPayableCurrent`	$200.00	USD	Point-in-time
Current portion of long-term loan payable	`LongTermDebtCurrent`	$44.68K	USD	Point-in-time
Current portion of long-term loan payable	`LongTermDebtCurrent`	$47.34K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$126.69K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$113.39K	USD	Point-in-time
Other current liabilities - Related party	`OtherSundryLiabilitiesCurrent`	$6.45K	USD	Point-in-time
Other current liabilities - Related party	`OtherSundryLiabilitiesCurrent`	$1.09K	USD	Point-in-time
Deferred revenue	`DeferredRevenue`	$72.75K	USD	Point-in-time
Deferred revenue	`DeferredRevenue`	-	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$301.96K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$350.38K	USD	Point-in-time
Loan payable - long term, net of current portion	`LongTermDebtNoncurrent`	$133.64K	USD	Point-in-time
Loan payable - long term, net of current portion	`LongTermDebtNoncurrent`	$117.92K	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$10.18K	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$9.61K	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$143.25K	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$128.10K	USD	Point-in-time
Total liabilities	`Liabilities`	$493.63K	USD	Point-in-time
Total liabilities	`Liabilities`	$430.06K	USD	Point-in-time
Common stock	`CommonStockValue`	$347.00	USD	Point-in-time
Common stock	`CommonStockValue`	$371.00	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$9.72M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$11.71M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-9.03M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-10.42M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-10.97K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-20.68K	USD	Point-in-time
Total shareholders' equity	`ShareholdersEquityFairValueDisclosure`	$1.28M	USD	Point-in-time
Total shareholders' equity	`ShareholdersEquityFairValueDisclosure`	$667.76K	USD	Point-in-time
Noncontrolling interest	`RedeemableNoncontrollingInterestEquityFairValue`	$92.86K	USD	Point-in-time
Noncontrolling interest	`RedeemableNoncontrollingInterestEquityFairValue`	$108.17K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$1.39M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$760.62K	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.25M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.82M	USD	Point-in-time

Income Statement 56 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$390.65K	USD	1 Quarter
Revenues	`Revenues`	$747.53K	USD	2 Qtrs
Revenues	`Revenues`	$953.83K	USD	2 Qtrs
Revenues	`Revenues`	$376.33K	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$742.46K	USD	2 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$287.40K	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$325.59K	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$526.41K	USD	2 Qtrs
Gross Profit	`GrossProfit`	$211.37K	USD	2 Qtrs
Gross Profit	`GrossProfit`	$50.73K	USD	1 Quarter
Gross Profit	`GrossProfit`	$103.25K	USD	1 Quarter
Gross Profit	`GrossProfit`	$221.12K	USD	2 Qtrs
Operating expenses	`OperatingExpenses`	$838.12K	USD	1 Quarter
Operating expenses	`OperatingExpenses`	$922.21K	USD	2 Qtrs
Operating expenses	`OperatingExpenses`	$413.87K	USD	1 Quarter
Operating expenses	`OperatingExpenses`	$1.60M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-734.87K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-1.38M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-363.14K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-710.83K	USD	2 Qtrs
Other income	`OtherIncome`	$9.05K	USD	2 Qtrs
Other income	`OtherIncome`	$30.96K	USD	2 Qtrs
Other income	`OtherIncome`	$13.11K	USD	1 Quarter
Other income	`OtherIncome`	$8.54K	USD	1 Quarter
Equity in loss of unconsolidated affiliate	`AffiliateCosts`	$-10.17K	USD	1 Quarter
Equity in loss of unconsolidated affiliate	`AffiliateCosts`	$-32.72K	USD	1 Quarter
Equity in loss of unconsolidated affiliate	`AffiliateCosts`	$-47.89K	USD	2 Qtrs
Equity in loss of unconsolidated affiliate	`AffiliateCosts`	$-10.73K	USD	2 Qtrs
Other expense	`OtherExpenses`	$-3.90K	USD	2 Qtrs
Other expense	`OtherExpenses`	$-3.00	USD	2 Qtrs
Other expense	`OtherExpenses`	$-2.54K	USD	1 Quarter
Other expense	`OtherExpenses`	$-3.00	USD	1 Quarter
Interest expense	`InterestExpense`	$-766.00	USD	1 Quarter
Interest expense	`InterestExpense`	$-1.48K	USD	2 Qtrs
Interest expense	`InterestExpense`	-	USD	1 Quarter
Interest expense	`InterestExpense`	-	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.38M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-731.67K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-737.26K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-385.29K	USD	1 Quarter
Net income (loss) attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$11.15K	USD	2 Qtrs
Net income (loss) attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$17.21K	USD	1 Quarter
Net income (loss) attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-14.85K	USD	2 Qtrs
Net income (loss) attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-8.43K	USD	1 Quarter
Net loss attributable to shareholders	`NetIncomeLossAttributableToParentDiluted`	$-1.39M	USD	2 Qtrs
Net loss attributable to shareholders	`NetIncomeLossAttributableToParentDiluted`	$-376.87K	USD	1 Quarter
Net loss attributable to shareholders	`NetIncomeLossAttributableToParentDiluted`	$-716.82K	USD	2 Qtrs
Net loss attributable to shareholders	`NetIncomeLossAttributableToParentDiluted`	$-754.47K	USD	1 Quarter
Basic and diluted loss per common share	`EarningsPerShareBasicAndDiluted`	$-0.04	USD	2 Qtrs
Basic and diluted loss per common share	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	1 Quarter
Basic and diluted loss per common share	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	1 Quarter
Basic and diluted loss per common share	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	2 Qtrs
Basic and diluted weighted average number of common stock outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	36.27M	shares	1 Quarter
Basic and diluted weighted average number of common stock outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	35.58M	shares	2 Qtrs
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`	32.93M	shares	1 Quarter

Cash Flow Statement 82 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-1.38M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-731.67K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-737.26K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-385.29K	USD	1 Quarter
Depreciation and Amortization	`DepreciationAndAmortization`	$35.47K	USD	2 Qtrs
Depreciation and Amortization	`DepreciationAndAmortization`	$59.49K	USD	2 Qtrs
Option expense	`StockOptionPlanExpense`	$249.51K	USD	2 Qtrs
Option expense	`StockOptionPlanExpense`	$12.20K	USD	2 Qtrs
Interest expenses	`InterestExpenseDebt`	-	USD	2 Qtrs
Interest expenses	`InterestExpenseDebt`	$3.63K	USD	2 Qtrs
Inventory impairment	`TangibleAssetImpairmentCharges`	$4.11K	USD	2 Qtrs
Inventory impairment	`TangibleAssetImpairmentCharges`	-	USD	2 Qtrs
Equity in loss of unconsolidated affiliate	`AffiliateCosts`	$-10.17K	USD	1 Quarter
Equity in loss of unconsolidated affiliate	`AffiliateCosts`	$-32.72K	USD	1 Quarter
Equity in loss of unconsolidated affiliate	`AffiliateCosts`	$-47.89K	USD	2 Qtrs
Equity in loss of unconsolidated affiliate	`AffiliateCosts`	$-10.73K	USD	2 Qtrs
Accounts receivable (increase/decrease)	`IncreaseDecreaseInAccountsReceivable`	$-25.85K	USD	2 Qtrs
Accounts receivable (increase/decrease)	`IncreaseDecreaseInAccountsReceivable`	$-95.68K	USD	2 Qtrs
Accounts receivable - Related party (increase/decrease)	`IncreaseDecreaseInAccountsReceivableRelatedParties`	$12.61K	USD	2 Qtrs
Accounts receivable - Related party (increase/decrease)	`IncreaseDecreaseInAccountsReceivableRelatedParties`	-	USD	2 Qtrs
Inventories (increase/decrease)	`IncreaseDecreaseInInventories`	$-28.69K	USD	2 Qtrs
Inventories (increase/decrease)	`IncreaseDecreaseInInventories`	$79.50K	USD	2 Qtrs
Other current assets (increase/decrease)	`IncreaseDecreaseInOtherCurrentAssets`	$-67.40K	USD	2 Qtrs
Other current assets (increase/decrease)	`IncreaseDecreaseInOtherCurrentAssets`	$-31.21K	USD	2 Qtrs
Other current assets - Related party (increase/decrease)	`IncreaseDecreaseInOtherOperatingAssets`	-	USD	2 Qtrs
Other current assets - Related party (increase/decrease)	`IncreaseDecreaseInOtherOperatingAssets`	$-4.68K	USD	2 Qtrs
Accounts payable (increase/decrease)	`IncreaseDecreaseInAccountsPayable`	$28.54K	USD	2 Qtrs
Accounts payable (increase/decrease)	`IncreaseDecreaseInAccountsPayable`	$21.20K	USD	2 Qtrs
Other current liabilities (increase/decrease)	`IncreaseDecreaseInOtherCurrentLiabilities`	$-25.78K	USD	2 Qtrs
Other current liabilities (increase/decrease)	`IncreaseDecreaseInOtherCurrentLiabilities`	$-15.03K	USD	2 Qtrs
Other current liabilities - Related party (increase/decrease)	`IncreaseDecreaseInOtherOperatingLiabilities`	-	USD	2 Qtrs
Other current liabilities - Related party (increase/decrease)	`IncreaseDecreaseInOtherOperatingLiabilities`	$5.30K	USD	2 Qtrs
Deferred revenue (increase/decrease)	`DeferredRevenueAdditions`	-	USD	2 Qtrs
Deferred revenue (increase/decrease)	`DeferredRevenueAdditions`	$-72.75K	USD	2 Qtrs
Net cash used by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-680.34K	USD	2 Qtrs
Net cash used by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.23M	USD	2 Qtrs
Purchase of equipment	`PaymentsToAcquireMachineryAndEquipment`	$-331.92K	USD	2 Qtrs
Purchase of equipment	`PaymentsToAcquireMachineryAndEquipment`	$-135.73K	USD	2 Qtrs
Acquisition of investment in unconsolidated affiliate	`BusinessCombinationAcquisitionRelatedCosts`	-	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 acquired from business acquisition	`CashAcquiredFromAcquisition`	-	USD	2 Qtrs
Net cash provided (used) by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-331.92K	USD	2 Qtrs
Net cash provided (used) by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$15.95K	USD	2 Qtrs
Proceeds from issuance of Loan - short term - Related party	`ProceedsFromIssuanceOfDebt`	$180.82K	USD	2 Qtrs
Proceeds from issuance of Loan - short term - Related party	`ProceedsFromIssuanceOfDebt`	$341.00K	USD	2 Qtrs
Repayment of loans - short term - Related party	`RepaymentsOfRelatedPartyDebt`	$-119.00K	USD	2 Qtrs
Repayment of loans - short term - Related party	`RepaymentsOfRelatedPartyDebt`	$-341.20K	USD	2 Qtrs
Proceeds from issuance of Loan - short term	`ProceedsFromLoans`	$16.71K	USD	2 Qtrs
Proceeds from issuance of Loan - short term	`ProceedsFromLoans`	-	USD	2 Qtrs
Repayment of loans - short term	`RepaymentsOfShortTermDebt`	$-15.00K	USD	2 Qtrs
Repayment of loans - short term	`RepaymentsOfShortTermDebt`	$-23.20K	USD	2 Qtrs
Payments on capital lease	`RepaymentsOfLongTermCapitalLeaseObligations`	-	USD	2 Qtrs
Payments on capital lease	`RepaymentsOfLongTermCapitalLeaseObligations`	$-1.80K	USD	2 Qtrs
Proceeds from issuance of Loan - long term	`ProceedsFromIssuanceOfLongTermDebt`	$73.17K	USD	2 Qtrs
Proceeds from issuance of Loan - long term	`ProceedsFromIssuanceOfLongTermDebt`	-	USD	2 Qtrs
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$1.74M	USD	2 Qtrs
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$680.51K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.72M	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`	$9.80K	USD	2 Qtrs
Effect of foreign exchange on cash and cash equivalents	`ForeignCurrencyTransactionGainLossBeforeTax`	$-41.39K	USD	2 Qtrs
Net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$111.43K	USD	2 Qtrs
Net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$167.96K	USD	2 Qtrs
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$515.29K	USD	Point-in-time
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$347.33K	USD	Point-in-time
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$152.04K	USD	Point-in-time
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$40.61K	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$515.29K	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$347.33K	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$152.04K	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$40.61K	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$1.13K	USD	2 Qtrs
Cash paid for interest	`InterestPaid`	$1.08K	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	`AcquisitionCosts`	$258.46K	USD	2 Qtrs
Acquisition through issuance of common shares	`AcquisitionCosts`	-	USD	2 Qtrs
Software purchased with installment agreement	`PaymentsToAcquireSoftware`	$14.81K	USD	2 Qtrs
Software purchased with installment agreement	`PaymentsToAcquireSoftware`	-	USD	2 Qtrs
Conversion of note payable to common stock - Related party	`DebtConversionOriginalDebtAmount1`	-	USD	2 Qtrs
Conversion of note payable to common stock - Related party	`DebtConversionOriginalDebtAmount1`	$606.00K	USD	2 Qtrs

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