---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-24-023001"
form_type: "8-K"
ticker: "CIMG"
cik: "0001527613"
company_name: "CIMG Inc."
filed_at: "2024-06-07T23:59:59+00:00"
generated_at: "2026-06-01T05:33:03.633487+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# NuZee sells Korean and Japanese subs for $10K; founder-CEO resigns, new board and co-CEOs

## Summary
- 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.

## SEC filing metadata
- accession: 0001493152-24-023001
- form_type: 8-K
- ticker: CIMG
- cik: 0001527613
- company_name: CIMG Inc.
- filed_at: 2024-06-07T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1527613/000149315224023001/0001493152-24-023001-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1527613/000149315224023001/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-24-023001
- JSON: https://secwatch.observer/filing/0001493152-24-023001.json
- Plain text: https://secwatch.observer/filing/0001493152-24-023001.txt

## Key facts
- Executive change
  Masateru Higashida resigned as Chairman, Chief Executive Officer, Secretary, Treasurer at CIMG Inc..
  - Action: resigned
  - Role: Chairman, Chief Executive Officer, Secretary, Treasurer
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1527613/000149315224023001/0001493152-24-023001-index.htm
- Executive change
  Yanli Hou was appointed as Director at CIMG Inc..
  - Action: appointed
  - Role: Director
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1527613/000149315224023001/0001493152-24-023001-index.htm
- Executive change
  Randell Weaver was appointed as Co-Chief Executive Officer, Secretary, Treasurer at CIMG Inc..
  - Action: appointed
  - Role: Co-Chief Executive Officer, Secretary, Treasurer
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1527613/000149315224023001/0001493152-24-023001-index.htm
- Executive change
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1527613/000149315224023001/0001493152-24-023001-index.htm
- Executive change
  Kevin J. Conner resigned as Director at CIMG Inc..
  - Action: resigned
  - Role: Director
  source text: 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 .
  evidence_url: https://www.sec.gov/Archives/edgar/data/1527613/000149315224023001/0001493152-24-023001-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.