CIMG Inc.

09/04/2025 | Press release | Distributed by Public on 09/04/2025 09:46

Material Event (Form 8-K)

Item 8.01 Other Events

On September 2, 2025, CIMG Inc., a Nevada corporation (the "Company") received written notification (the "Letter") from the Nasdaq Hearings Panel (the "Panel") notifying the Company of its decision to grant the Company's request to continue its listing on The Nasdaq Stock Market ("Nasdaq") subject to the Company's meeting certain conditions outlined in the letter.

As the Company has previously reported, the Company had participated in its Hearing with the Nasdaq Panel on August 14, 2025, in relation to its of Listing Rules 5550(a)(2), 5250(c)(1) and 5550(b)(1) (the "Bid Price Rule," the "Periodic Filing Rule," and the "Equity Rule," respectively, and collectively the "Rules").

In the letter, the Hearings Advisor noted that in making its decision, the Panel considered the entire record, which was incorporated by reference into the Panel's decision. Background information about the Company, including its business description, financial information, market data and compliance history, had been presented to the Panel.

In the Letter, the Hearings Advisor reviewed the information presented to the Panel by the Company, detailing the compliance plan proposed by the Company. The Letter discussed the Company's compliance plan, which entailed current and future capital raises and new revenue raising contracts.

Panel Conclusions

The Letter stated that based on the information presented, the Panel had decided to grant the Company's request for an continued listing, subject to the following: to regain compliance with the Periodic Filing Rule by September 30, 2025 and to demonstrate compliance with the Equity Rule by September 30, 2025. It is a requirement during the exception period that the Company provide prompt notification of any significant events that occur during this time that may affect the Company's compliance with Nasdaq requirements.

The Letter noted that the Nasdaq Listing and Hearing Review Council may, on its own motion, determine to review any Panel decision within 45 calendar days after issuance of the written decision. The Letter continued that if the Listing Council determines to review the decision set forth in the Letter, the Listing Council may affirm, modify, reverse, dismiss or remand the decision to the Panel, and that the Company would be notified immediately in the event the Listing Council determines that this matter will be called for review.

Forward-Looking Statements

Certain information contained in this report consists of forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks, uncertainties and assumptions that are difficult to predict. Words such as "will," "would," "may," "intends," "potential," and similar expressions, or the use of future tense, identify forward-looking statements, but their absence does not mean that a statement is not forward-looking. Such forward-looking statements are not guarantees of performance and actual actions or events could differ materially from those contained in such statements. For example, there can be no assurance that Nasdaq will accept the Company's plan to regain compliance, that the Company will regain compliance with the Listing Rule during any compliance period or in the future, or otherwise meet Nasdaq continued listing standards, or that Nasdaq will grant the Company any relief from delisting as necessary or that the Company can ultimately meet applicable Nasdaq requirements for any such relief. For additional information about factors that could cause actual results to differ materially from those described in the forward-looking statements, please refer to the Company's filings with the SEC. The forward-looking statements contained in this report speak only as of the date of this report and the Company undertakes no obligation to publicly update any forward-looking statements to reflect changes in information, events or circumstances after the date of this report, unless required by law.

(d) Exhibits.

Exhibit No. Description
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
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