CIMG Inc. says it needs to raise capital immediately after disclosing a $7.38 million working-capital deficit, despite holding 1,145.4 Bitcoin worth approximately $67.19 million at the end of June 2026.

According to its quarterly filing dated Aug. 13, the company held just $5,397 in cash, with $1.87 million in current assets set against $9.25 million in current liabilities.

The gap between those figures defines the company's predicament: the reported value of its Bitcoin reserve is roughly seven times its current liabilities, yet almost none of that value exists as spendable cash, so near-term obligations depend on selling cryptocurrency or raising fresh funds.

CIMG said it could monetize its Bitcoin holdings to raise funds, but cautioned that the asset is volatile and that its Bitcoin reserve does not represent assured financing. The company also stated that plans to raise additional equity or debt had not resolved doubts about its ability to continue as a going concern, the standard accounting disclosure made when substantial doubt exists about a company's capacity to meet its obligations in the year ahead. The filing identifies the two paths available — new equity or debt financing, or drawing down the Bitcoin reserve — and subsequent disclosures will show which of those options the company executes.

The filing shows CIMG used $10.35 million in cash for operations during the nine months ended June 2026. It reported a net loss attributable to the company of $10.49 million for the quarter and $45.36 million for the nine-month period.

The disclosure highlights a key risk in corporate Bitcoin treasury strategies: a large cryptocurrency reserve can strengthen a company's balance sheet while providing only limited immediate liquidity to meet operating expenses and other short-term obligations. The strategy was popularized by MicroStrategy, which began accumulating Bitcoin as a primary corporate reserve asset in 2020 and has since been renamed Strategy, and it was adopted by many listed companies in the years that followed. CIMG's filing illustrates the trade-off the model carries: value is stored in an asset that cannot by itself settle ordinary obligations such as salaries, supplier invoices, or interest payments.

The filing follows other recent signs of pressure among Bitcoin treasury companies. BitcoinKE previously reported that another Bitcoin treasury firm sold half of its holdings (REALITY CHECK | Another Bitcoin Treasury Company Capitulates, Sells Half its Bitcoin Holdings) and examined the funding model behind the sector's rapid growth (CASE STUDY | The Financing Model that Fueled Rapid Expansion of Bitcoin Treasury Companies is Showing Signs of Strain).