Company: SCAG
Filing Date: 2025-01-06
Form Type: 424B3
Source: 0001213900-25-001215
Chunk: 283

Company: Scage Future
Filing Date: 2025-01-06
Form: 424B3
Chunk 283
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 for the fiscal year 2024, versus 17.2% in the Initial Projections. The Updated Projections with respect to operating expenses are set forth below:

|                          |     |          (as a percentage of revenue) 
 For the Projected Fiscal Year Ending: |   |     |           |   |     |           |   |     |           |   |
|:-------------------------|:----|--------------------------------------:|:--|:----|----------:|:--|:----|----------:|:--|:----|----------:|:--|
| Operating Expenses       |     |                             30-Jun-24 |   |     | 30-Jun-25 |   |     | 30-Jun-26 |   |     | 30-Jun-27 |   |
| Operating expenses       |     |                                       |   |     |           |   |     |           |   |     |           |   |
| Taxes & fees             |     |                                   1.6 | % |     |       1.6 | % |     |       1.6 | % |     |       1.6 | % |
| Sales cost               |     |                                  12.0 | % |     |       3.1 | % |     |       3.1 | % |     |       3.1 | % |
| General & administrative |     |                                  36.3 | % |     |       6.5 | % |     |       2.6 | % |     |       1.6 | % |
| Research & development   |     |                                  21.0 | % |     |       9.5 | % |     |       8.4 | % |     |       8.4 | % |

Significantly lower projected revenue, which is based on more recent unaudited historical financials, results in higher operating expenses as a percentage of revenue for the fiscal year 2024. In the Updated Projections, operating expenses result in operating expense of 70.9% of revenue for the fiscal year 2024, versus 36.4% in the Initial Projections.

121 The financial projections are subjective in many respects. As a result, there can be no assurance that the financial projections will be realized or that actual results will not be significantly higher or lower than estimated. The Finnovate Board considered, and recognized as part of its review and evaluation, the possibility