CIMG Holds $67M in Bitcoin but Just $5,397 in Cash

The Aug. 13 quarterly filing reports CIMG held 1,145.4 BTC valued at $67.19 million on June 30 and had $5,397 in cash. The company listed $1.87 million in current assets and $9.25 million in current liabilities, producing a $7.38 million working-capital deficit.

CIMG recorded a loss attributable to the company of $10.49 million for the June quarter and $45.36 million for the nine-month period. Operations used $10.35 million of cash during those nine months. The filing states management must raise capital or otherwise secure liquidity to continue operations.

The filing notes CIMG “may monetize” its Bitcoin holdings but cautions the asset is volatile and any monetization is not committed or assured as a source of financing. Management intends to seek additional equity or debt financing; the filing includes a disclosure of substantial doubt about the company’s ability to continue as a going concern.

A June 12 registration statement describes the company’s Singapore subsidiary as self-custodial of the coins in segregated Safe Wallet addresses under a 3-of-3 multisignature arrangement. The CEO, CFO and a director each hold separate credentials and every signer must approve a transfer; the filing states a signer’s unavailability could delay or prevent moving coins. The documents disclose no third-party custodian, no cold-storage provider, no Bitcoin insurance and no independent third-party verification of the holdings.

The registration statement characterizes the Bitcoin as a long-term reserve and states the company did not intend routine operating use or near-term monetization. At that time the company reported no formal active-trading, monetization or hedging policy. The filings do not indicate whether each coin is unpledged or unencumbered.

The filing includes transaction details that explain the balance increase. CIMG reported holding 500 BTC as of Sept. 30, 2025, and purchasing 230 BTC in December for $24.46 million, bringing the total to 730 BTC. In June the company sold 900 million units for $13.5 million payable in Bitcoin at a $65,000 reference price; each unit included one share and one warrant, and the company later exercised all 900 million warrants. The 10-Q reports $51.46 million of Bitcoin additions during the nine months and no disposals. Subtracting the December purchase amount leaves roughly $27 million in additional additions; at the $65,000 reference price that equates to about 415.4 BTC and reconciles the increase from 730 BTC to 1,145.4 BTC after rounding. The filing does not separately disclose the payment medium for the warrant exercises or the exact resulting coin count, so that reconciliation is an inference from the reported figures.