CIMG Inc.

What they do

CIMG sources, markets and distributes health and wellness products in Asia, including Maca-based dietary supplements and functional foods, and sells AI computing power products such as GPUs with embedded AI data-processing modules to business customers. It sells through online channels and retail partners including grocery stores, convenience stores and vending machines. The company also describes itself as holding digital assets, including Bitcoin, as part of its strategy.

Revenue drivers

• Maca Series — Maca-enhanced food and beverages sold under a three-year exclusive Asia distribution agreement for 'Kangduoyuan' brand products including Maca Peptide Coffee, Maca-Noni, Maca Wine and Maca Purified Powder; the 10-K risk factors describe the business as highly concentrated in Maca Series products.
• Homology of Medicine and Food Series — Huomao-branded products, exosome eye drops and other wellness products launched since July 2024; management says the launch contributed to sales growth, though no separate segment revenue is disclosed.
• Computing Power Products — GPUs integrated with AI data-processing modules sold to business customers who embed them in servers and processors; launched September 2025 and described in the May 2026 earnings release as serving multiple commercial bank clients.
• Digital assets / Bitcoin holdings — The company reported holding 730 bitcoins with an aggregate carrying value of $49.85 million as of March 31, 2026, which it cites as part of its asset operations rather than as a product line.

Recent performance

Total revenue for the quarter ended March 31, 2026 was $3.2 million, versus $61,578 in the quarter ended June 30, 2025 and $2.2 million in the quarter ended June 30, 2026. The company reported six-month revenue of $18.9 million for the period ended March 31, 2026, which it described as 82,969% year-over-year growth, and full fiscal 2025 revenue of $10.3 million. Fiscal 2025 net loss was $4.9 million with operating cash flow of negative $17.6 million. At June 30, 2026, total assets were $69.1 million, total liabilities $9.3 million, shareholder equity $59.0 million and cash and equivalents were $5,397.

Strategy

Management describes an ongoing transformation since July 2024 toward Asian digital marketing, distribution and sales of health and wellness products. Since September 2025 it has added AI computing power products, and the May 2026 earnings release says the company has completed multiple mergers, acquisitions and business integrations to build an omnichannel sales network. The company states a dual-track focus on comprehensive health and AI computing power, alongside a cryptocurrency-focused strategy including Bitcoin and stablecoins. Management says it is advancing financing initiatives to optimize cash flow and is confident in a near-term profitability breakthrough.

Risks

• Going concern — The auditor's report for fiscal year ended September 30, 2025 includes an explanatory paragraph about substantial doubt about the company's ability to continue as a going concern absent additional financing.
• Product concentration — The 10-K risk factors state the business is highly concentrated in Maca Series products and relies on a limited number of suppliers and customers.
• Minimal cash relative to assets — Cash and equivalents were only $5,397 at June 30, 2026 against $69.1 million of total assets, most of which reflects the Bitcoin carrying value rather than liquid operating cash.
• China regulatory uncertainty — The company's PRC operations are subject to uncertain interpretation and enforcement of PRC laws on cybersecurity review, CSRC overseas listing filings, and anti-monopoly regulation.

Outlook

Management states it is actively advancing financing initiatives to optimize cash flow and is confident in achieving a near-term profitability breakthrough through business growth and asset operations. It cites strong Asian market demand, an established product portfolio and digital asset holdings as supports for long-term strategic initiatives. The company also flags risks from Bitcoin price fluctuations, the need to raise capital, and maintaining Nasdaq listing compliance.