Company: SCAG
Filing Date: 2025-11-12
Form Type: 20-F
Source: 0001213900-25-109190
Chunk: 115

Company: Scage Future
Filing Date: 2025-11-12
Form: 20-F
Item: Item 4A
Chunk 115
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 of our cash flows for the periods presented.

                                                           For the Years Ended June 30,                                                                       
                                                           2025                                               2024                      2023                  
  Net cash used in operating activities                    $                                  (5,894,330      $         (6,223,797      $         (4,892,650  
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Net cash used in investing activities                                                      (20,687,386                (1,596,653                  (166,170  
  Net cash provided by financing activities                                                   24,656,659                 8,736,514                 6,179,016  
  Effect of exchange rate changes                                                                 38,421                    (7,679                  (128,847  
  Net (decrease)/increase in cash and restricted cash                                         (1,886,636                   908,385                   991,349  
  Cash and restricted cash, at beginning of year                                               1,984,374                 1,075,989                    84,640  
  Cash and restricted cash, at end of year                 $                                      97,738      $          1,984,374      $          1,075,989  

Operating activities

Our net cash used in operating activities was US$5.9 million for the
year ended June 30, 2025, which was primarily attributable to a net loss of US$13.1 million, as adjusted for (1) certain non-cash and
non-operating items, primarily including issuance of convertible debt to settle accrued service fees of US$2.5 million, share-based compensation
expense of US$1.8 million, depreciation of property and equipment of US$0.3 million, reserve for warranty costs of US$0.3 million and
income recognized in fair value change in derivative liability of US$0.3 million; and (2) changes in working capital that negatively affected
the cash flow from operating activities, primarily including an increase in prepaid expenses and other current assets of US$1.8 million
and an increase in account receivables and contract assets of US$1.1 million due to the decrease of advances received from customers;
partially offset by (3) changes in working capital that positively affected the cash flow from operating activities, primarily including
an increase of accrued expenses and other payables of US$2.6 million mainly due