Company: FTSP
Filing Date: 2025-02-14
Form Type: 8-K
Source: 0001199835-25-000044
Chunk: 6

Company: FinTrade Sherpa, Inc.
Filing Date: 2025-02-14
Form: 8-K
Item: Item 2.01
Chunk 6
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 is ready to begin “beta” stage development. In the context of software development, the alpha stage
of development represents an early phase in the product lifecycle. During this stage, the software incorporates a substantial portion
of its intended features, but remains incomplete and may contain significant defects. Alpha versions are typically subject to internal
testing by the company’s development and quality assurance personnel to identify and address major issues. This stage allows the company
to assess core functionality and overall design before progressing to more comprehensive testing phases. While alpha software is operational
to a degree, it generally lacks stability and refinement, and is not considered suitable for public distribution or commercial release.
Alpha-stage software may require substantial additional development and testing before it can be considered a viable commercial product.

The
beta stage of software development is a critical phase in software development that follows the alpha stage. During this period, the
software is considered feature-complete, with most intended functionalities implemented. Beta versions are typically released to a select
group of external users for more extensive testing in real-world conditions. This stage allows developers to identify and address remaining
bugs, compatibility issues, and performance problems while gathering valuable user feedback. Beta testing usually lasts several weeks
to a few months, depending on the software’s complexity. The primary objectives of this phase are to uncover any overlooked issues, evaluate
real-world performance, and ensure the product meets user expectations before its commercial release. Beta software is still considered
pre-release and may undergo further refinement based on testing results before reaching the final release stage.

After
the beta stage of development, software typically progresses to the release candidate phase. During this stage of development, the software
is considered feature-complete and has undergone extensive testing during the beta phase. Developers seek to resolve remaining minor
bugs or performance issues, and the software is usually nearly ready for public release, pending final validation to ensure stability,
usability, and quality. If no significant issues are identified during this phase, the software proceeds to the general release where
it becomes available to all users.

While
we believe that FinTradeSherpa is ready to begin beta stage development, there can be no assurances that FinTradeSherpa will complete
the beta stage or release candidate phase in a timely fashion, if at all.

As
of the date of this Current Report on Form 8-K, we believe that development costs to progress FinTradeSherpa through beta stage and release
candidate phase will be between approximately $245,000 and $425,000. We expect to fund these additional