8-K
filed June 7, 2024, 7:59 PM ET
ticker CIMG
CIK 0001527613
other material
confidence high
sentiment negative
materiality 0.85
NuZee sells Korean and Japanese subs for $10K; founder-CEO resigns, new board and co-CEOs
CIMG Inc.
- Sold all shares of NuZee KOREA Ltd and NuZee Investment Co., Ltd to Masateru Higashida for $10,000.
- Masateru Higashida resigned as Chairman, CEO, Secretary, Treasurer; Kevin Conner resigned from board.
- Jianshuang Wang appointed Chairman and Co-CEO; Yanli Hou appointed as director.
- Randell Weaver appointed Co-CEO, Secretary, Treasurer; new employment with $325K salary, $162.5K bonus, $243.75K RSUs.
- Higashida termination agreement: $175.5K cash and $175.5K RSUs, vesting April 30, 2025.
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.95
Masateru Higashida resigned as Chairman, Chief Executive Officer, Secretary, Treasurer at CIMG Inc..
- Action
- resigned
- Role
- Chairman, Chief Executive Officer, Secretary, Treasurer
Exact text from the filing
On June 6, 2024, Masateru Higashida and Kevin J. Conner resigned from the board of directors of the Company (the “Board”) and any committee of the Board of which they were a member . Mr. Higashida also resigned from his positions of Chairman of the Board, Chief Executive Officer, Secretary, and Treasurer.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Yanli Hou was appointed as Director at CIMG Inc..
- Action
- appointed
- Role
- Director
Exact text from the filing
Also on June 6, 2024, Jianshuang Wang and Yanli Hou were appointed to the Board as directors to fill the vacancies created by Mr. Higashida’s and Mr. Conner’s resignations.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Randell Weaver was appointed as Co-Chief Executive Officer, Secretary, Treasurer at CIMG Inc..
- Action
- appointed
- Role
- Co-Chief Executive Officer, Secretary, Treasurer
Exact text from the filing
Further, effective on June 6, 2024, Ms. Wang and Randell Weaver, the existing Chief Financial Officer, Chief Operating Officer, and President of the Company, were both appointed to the Company as Co-Chief Executive Officers to fill the vacancy created by Mr. Higashida’s resignation. Mr. Weaver will also serve as Secretary and Treasurer to fill the vacancies created by Mr. Higashida’s resignation.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Jianshuang Wang was appointed as Director, Chairman of the Board, Co-Chief Executive Officer at CIMG Inc..
- Action
- appointed
- Role
- Director, Chairman of the Board, Co-Chief Executive Officer
Exact text from the filing
Also on June 6, 2024, Jianshuang Wang and Yanli Hou were appointed to the Board as directors to fill the vacancies created by Mr. Higashida’s and Mr. Conner’s resignations. It has not yet been determined on which committees of the Board Ms. Wang or Ms. Hou will serve, however, Ms. Wang will serve as the Chairman of the Board.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Kevin J. Conner resigned as Director at CIMG Inc..
- Action
- resigned
- Role
- Director
Exact text from the filing
On June 6, 2024, Masateru Higashida and Kevin J. Conner resigned from the board of directors of the Company (the “Board”) and any committee of the Board of which they were a member .
View on SEC.gov
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