10-Q Filing

CIMG INC. CIK: 1527613 Q3 2018

Filing Information

Form Type	10-Q
Accession Number	`0001127855-18-000149`
Period End Date	20180630
Filing Date	20180816
Fiscal Year	2018
Fiscal Period	Q3
XBRL Instance	nuze-20180630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 56 Cash Flow Statement 86

Balance Sheet 66 line items

Line Item	Tag	Value	Unit	Period
Cash	`CashAndCashEquivalentsAtCarryingValue`	$40.61K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$615.57K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$347.33K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$151.61K	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$143.89K	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$140.55K	USD	Point-in-time
Accounts receivable - Related party	`AccountsReceivableRelatedPartiesCurrent`	$12.38K	USD	Point-in-time
Accounts receivable - Related party	`AccountsReceivableRelatedPartiesCurrent`	$603.00	USD	Point-in-time
Inventories, net	`InventoryNet`	$367.58K	USD	Point-in-time
Inventories, net	`InventoryNet`	$266.62K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$298.77K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$102.93K	USD	Point-in-time
Other current assets - Related party	`OtherAssetsMiscellaneousCurrent`	$29.38K	USD	Point-in-time
Other current assets - Related party	`OtherAssetsMiscellaneousCurrent`	-	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.42M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$902.52K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$277.99K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$575.07K	USD	Point-in-time
Goodwill	`Goodwill`	$17.11K	USD	Point-in-time
Goodwill	`Goodwill`	$17.11K	USD	Point-in-time
Customer List, net	`FiniteLivedCustomerListsGross`	$45.90K	USD	Point-in-time
Customer List, net	`FiniteLivedCustomerListsGross`	$37.29K	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`	$54.41K	USD	Point-in-time
Total other assets	`OtherAssets`	$73.74K	USD	Point-in-time
Total assets	`Assets`	$1.25M	USD	Point-in-time
Total assets	`Assets`	$2.05M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$140.81K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$104.97K	USD	Point-in-time
Loan payable - short term - Related party	`LoansPayableCurrent`	$200.00	USD	Point-in-time
Loan payable - short term - Related party	`LoansPayableCurrent`	-	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`	$45.43K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$126.69K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$118.81K	USD	Point-in-time
Other current liabilities - Related party	`OtherSundryLiabilitiesCurrent`	$2.88K	USD	Point-in-time
Other current liabilities - Related party	`OtherSundryLiabilitiesCurrent`	$1.09K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$72.75K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	-	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$350.38K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$307.93K	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`	$101.82K	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$9.61K	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$9.77K	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$111.59K	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$143.25K	USD	Point-in-time
Total liabilities	`Liabilities`	$419.52K	USD	Point-in-time
Total liabilities	`Liabilities`	$493.63K	USD	Point-in-time
Common stock	`CommonStockValue`	$347.00	USD	Point-in-time
Common stock	`CommonStockValue`	$378.00	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$9.72M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$12.61M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-9.03M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-11.06M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-20.68K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-23.76K	USD	Point-in-time
Total shareholders' equity	`ShareholdersEquityFairValueDisclosure`	$1.53M	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`	$98.68K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$1.63M	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`	$2.05M	USD	Point-in-time

Income Statement 56 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$1.22M	USD	3 Qtrs
Revenues	`Revenues`	$1.02M	USD	3 Qtrs
Revenues	`Revenues`	$271.32K	USD	1 Quarter
Revenues	`Revenues`	$268.26K	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$203.08K	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$173.09K	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$699.50K	USD	3 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$945.54K	USD	3 Qtrs
Gross Profit	`GrossProfit`	$65.19K	USD	1 Quarter
Gross Profit	`GrossProfit`	$98.23K	USD	1 Quarter
Gross Profit	`GrossProfit`	$276.56K	USD	3 Qtrs
Gross Profit	`GrossProfit`	$319.35K	USD	3 Qtrs
Operating expenses	`OperatingExpenses`	$1.36M	USD	3 Qtrs
Operating expenses	`OperatingExpenses`	$437.18K	USD	1 Quarter
Operating expenses	`OperatingExpenses`	$2.33M	USD	3 Qtrs
Operating expenses	`OperatingExpenses`	$731.83K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-633.60K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-371.99K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-2.01M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-1.08M	USD	3 Qtrs
Other income	`OtherIncome`	$7.00	USD	1 Quarter
Other income	`OtherIncome`	$9.06K	USD	3 Qtrs
Other income	`OtherIncome`	$39.39K	USD	3 Qtrs
Other income	`OtherIncome`	$8.43K	USD	1 Quarter
Equity in loss of unconsolidated affiliate	`AffiliateCosts`	$-10.73K	USD	3 Qtrs
Equity in loss of unconsolidated affiliate	`AffiliateCosts`	$-50.00K	USD	3 Qtrs
Equity in loss of unconsolidated affiliate	`AffiliateCosts`	-	USD	1 Quarter
Equity in loss of unconsolidated affiliate	`AffiliateCosts`	$-2.11K	USD	1 Quarter
Other expense	`OtherExpenses`	$-1.34K	USD	1 Quarter
Other expense	`OtherExpenses`	$-5.24K	USD	3 Qtrs
Other expense	`OtherExpenses`	$-5.75K	USD	1 Quarter
Other expense	`OtherExpenses`	$-5.75K	USD	3 Qtrs
Interest expense	`InterestExpense`	-	USD	3 Qtrs
Interest expense	`InterestExpense`	-	USD	1 Quarter
Interest expense	`InterestExpense`	$-2.00K	USD	3 Qtrs
Interest expense	`InterestExpense`	$-521.00	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-367.01K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.10M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-639.86K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.02M	USD	3 Qtrs
Net income (loss) attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-26.34K	USD	3 Qtrs
Net income (loss) attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-11.49K	USD	1 Quarter
Net income (loss) attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-6.12K	USD	1 Quarter
Net income (loss) attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$5.03K	USD	3 Qtrs
Net loss attributable to shareholders	`NetIncomeLossAttributableToParentDiluted`	$-355.52K	USD	1 Quarter
Net loss attributable to shareholders	`NetIncomeLossAttributableToParentDiluted`	$-1.07M	USD	3 Qtrs
Net loss attributable to shareholders	`NetIncomeLossAttributableToParentDiluted`	$-2.03M	USD	3 Qtrs
Net loss attributable to shareholders	`NetIncomeLossAttributableToParentDiluted`	$-633.74K	USD	1 Quarter
Basic and diluted loss per common share	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	1 Quarter
Basic and diluted loss per common share	`EarningsPerShareBasicAndDiluted`	$-0.06	USD	3 Qtrs
Basic and diluted loss per common share	`EarningsPerShareBasicAndDiluted`	$-0.03	USD	3 Qtrs
Basic and diluted loss per common share	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	1 Quarter
Basic and diluted weighted average number of common stock outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	32.74M	shares	1 Quarter
Basic and diluted weighted average number of common stock outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	36.31M	shares	3 Qtrs
Basic and diluted weighted average number of common stock outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	37.33M	shares	1 Quarter
Basic and diluted weighted average number of common stock outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	31.54M	shares	3 Qtrs

Cash Flow Statement 86 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-367.01K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.10M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-639.86K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.02M	USD	3 Qtrs
Depreciation and Amortization	`DepreciationAndAmortization`	$55.88K	USD	3 Qtrs
Depreciation and Amortization	`DepreciationAndAmortization`	$103.59K	USD	3 Qtrs
Option expense	`StockOptionPlanExpense`	$23.47K	USD	3 Qtrs
Option expense	`StockOptionPlanExpense`	$366.71K	USD	3 Qtrs
Interest Expense	`InterestExpenseDebt`	$2.89K	USD	3 Qtrs
Interest Expense	`InterestExpenseDebt`	-	USD	3 Qtrs
Inventory impairment	`TangibleAssetImpairmentCharges`	$20.05K	USD	3 Qtrs
Inventory impairment	`TangibleAssetImpairmentCharges`	$4.11K	USD	3 Qtrs
Allowance for sales return	`SalesReturnsAndAllowancesGoods`	-	USD	3 Qtrs
Allowance for sales return	`SalesReturnsAndAllowancesGoods`	$4.44K	USD	3 Qtrs
Equity in loss of unconsolidated affiliate	`AffiliateCosts`	$-10.73K	USD	3 Qtrs
Equity in loss of unconsolidated affiliate	`AffiliateCosts`	$-50.00K	USD	3 Qtrs
Equity in loss of unconsolidated affiliate	`AffiliateCosts`	-	USD	1 Quarter
Equity in loss of unconsolidated affiliate	`AffiliateCosts`	$-2.11K	USD	1 Quarter
Accounts receivable (increase/decrease)	`IncreaseDecreaseInAccountsReceivable`	$1.02K	USD	3 Qtrs
Accounts receivable (increase/decrease)	`IncreaseDecreaseInAccountsReceivable`	$16.04K	USD	3 Qtrs
Accounts receivable - Related party (increase/decrease)	`IncreaseDecreaseInAccountsReceivableRelatedParties`	-	USD	3 Qtrs
Accounts receivable - Related party (increase/decrease)	`IncreaseDecreaseInAccountsReceivableRelatedParties`	$11.98K	USD	3 Qtrs
Inventories (increase/decrease)	`IncreaseDecreaseInInventories`	$-119.12K	USD	3 Qtrs
Inventories (increase/decrease)	`IncreaseDecreaseInInventories`	$59.69K	USD	3 Qtrs
Other current assets (increase/decrease)	`IncreaseDecreaseInOtherCurrentAssets`	$-195.17K	USD	3 Qtrs
Other current assets (increase/decrease)	`IncreaseDecreaseInOtherCurrentAssets`	$-6.64K	USD	3 Qtrs
Other current assets - Related party (increase/decrease)	`IncreaseDecreaseInOtherOperatingAssets`	-	USD	3 Qtrs
Other current assets - Related party (increase/decrease)	`IncreaseDecreaseInOtherOperatingAssets`	$29.87K	USD	3 Qtrs
Accounts payable (increase/decrease)	`IncreaseDecreaseInAccountsPayable`	$35.47K	USD	3 Qtrs
Accounts payable (increase/decrease)	`IncreaseDecreaseInAccountsPayable`	$-160.00K	USD	3 Qtrs
Other current liabilities (increase/decrease)	`IncreaseDecreaseInOtherCurrentLiabilities`	$-21.70K	USD	3 Qtrs
Other current liabilities (increase/decrease)	`IncreaseDecreaseInOtherCurrentLiabilities`	$-6.24K	USD	3 Qtrs
Other current liabilities - Related party (increase/decrease)	`IncreaseDecreaseInOtherOperatingLiabilities`	$1.77K	USD	3 Qtrs
Other current liabilities - Related party (increase/decrease)	`IncreaseDecreaseInOtherOperatingLiabilities`	-	USD	3 Qtrs
Deferred revenue (increase/decrease)	`DeferredRevenueAdditions`	$-72.75K	USD	3 Qtrs
Deferred revenue (increase/decrease)	`DeferredRevenueAdditions`	-	USD	3 Qtrs
Net cash used by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.83M	USD	3 Qtrs
Net cash used by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.07M	USD	3 Qtrs
Purchase of equipment	`PaymentsToAcquireMachineryAndEquipment`	$-391.86K	USD	3 Qtrs
Purchase of equipment	`PaymentsToAcquireMachineryAndEquipment`	$-136.33K	USD	3 Qtrs
Acquisition of investment in unconsolidated affiliate	`BusinessCombinationAcquisitionRelatedCosts`	$-50.00K	USD	3 Qtrs
Acquisition of investment in unconsolidated affiliate	`BusinessCombinationAcquisitionRelatedCosts`	-	USD	3 Qtrs
Net cash acquired from business acquisition	`CashAcquiredFromAcquisition`	-	USD	3 Qtrs
Net cash acquired from business acquisition	`CashAcquiredFromAcquisition`	$201.68K	USD	3 Qtrs
Net cash provided (used) by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$15.34K	USD	3 Qtrs
Net cash provided (used) by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-391.86K	USD	3 Qtrs
Proceeds from issuance of Loan - short term - Related party	`ProceedsFromIssuanceOfDebt`	$479.38K	USD	3 Qtrs
Proceeds from issuance of Loan - short term - Related party	`ProceedsFromIssuanceOfDebt`	$341.00K	USD	3 Qtrs
Repayment of loans - short term - Related party	`RepaymentsOfRelatedPartyDebt`	$-341.20K	USD	3 Qtrs
Repayment of loans - short term - Related party	`RepaymentsOfRelatedPartyDebt`	$-322.82K	USD	3 Qtrs
Proceeds from issuance of Loan - short term	`ProceedsFromLoans`	$89.02K	USD	3 Qtrs
Proceeds from issuance of Loan - short term	`ProceedsFromLoans`	-	USD	3 Qtrs
Repayment of loans - short term	`RepaymentsOfShortTermDebt`	$-26.05K	USD	3 Qtrs
Repayment of loans - short term	`RepaymentsOfShortTermDebt`	$-34.57K	USD	3 Qtrs
Payments on capital lease	`RepaymentsOfLongTermCapitalLeaseObligations`	-	USD	3 Qtrs
Payments on capital lease	`RepaymentsOfLongTermCapitalLeaseObligations`	$-2.68K	USD	3 Qtrs
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$680.51K	USD	3 Qtrs
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$2.53M	USD	3 Qtrs
Proceeds from issuance of treasury stock	`ProceedsFromSaleOfTreasuryStock`	$315.32K	USD	3 Qtrs
Proceeds from issuance of treasury stock	`ProceedsFromSaleOfTreasuryStock`	-	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.22M	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.49M	USD	3 Qtrs
Effect of foreign exchange on cash and cash equivalents	`ForeignCurrencyTransactionGainLossBeforeTax`	$-2.79K	USD	3 Qtrs
Effect of foreign exchange on cash and cash equivalents	`ForeignCurrencyTransactionGainLossBeforeTax`	$-44.77K	USD	3 Qtrs
Net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$111.00K	USD	3 Qtrs
Net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$268.24K	USD	3 Qtrs
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$40.61K	USD	Point-in-time
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$615.57K	USD	Point-in-time
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$347.33K	USD	Point-in-time
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$151.61K	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$40.61K	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$615.57K	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$347.33K	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$151.61K	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$1.08K	USD	3 Qtrs
Cash paid for interest	`InterestPaid`	$2.06K	USD	3 Qtrs
Cash paid for taxes	`IncomeTaxesPaid`	$800.00	USD	3 Qtrs
Cash paid for taxes	`IncomeTaxesPaid`	$800.00	USD	3 Qtrs
Acquisition through issuance of common shares	`AcquisitionCosts`	$258.46K	USD	3 Qtrs
Acquisition through issuance of common shares	`AcquisitionCosts`	-	USD	3 Qtrs
Software purchased with installment agreement	`PaymentsToAcquireSoftware`	$14.81K	USD	3 Qtrs
Software purchased with installment agreement	`PaymentsToAcquireSoftware`	-	USD	3 Qtrs
Conversion of note payable	`DebtInstrumentConvertibleBeneficialConversionFeature`	$606.00K	USD	3 Qtrs
Conversion of note payable	`DebtInstrumentConvertibleBeneficialConversionFeature`	-	USD	3 Qtrs
Conversion of note payable to common stock - Related party	`DebtConversionOriginalDebtAmount1`	-	USD	3 Qtrs
Conversion of note payable to common stock - Related party	`DebtConversionOriginalDebtAmount1`	$100.00K	USD	3 Qtrs

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