Company: SCAG
Filing Date: 2025-01-06
Form Type: 424B3
Source: 0001213900-25-001215
Chunk: 386

Company: Scage Future
Filing Date: 2025-01-06
Form: 424B3
Chunk 386
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253 thousand for the fiscal year ended June 30, 2023 to US$264 thousand for the fiscal year ended June 30, 2024, primarily attributable to the increase of loss from disposal of property and equipment. Our interest expenses, net mainly consist of interest income and interest expense, bank charges and exchange gain or loss. Our interest expenses, net increased from US$0.2 million for the fiscal year ended June 30, 2023 to US$0.4 million for the fiscal year ended June 30, 2024, primarily due to the increase in interest expenses as a result of the addition of short -termloans during the fiscal year ended June 30, 2024. Net loss As a result of the foregoing, our net loss decreased by 9.6% from US$6.6 million for the fiscal year ended June 30, 2023 to US$6.0 million for the fiscal year ended June 30, 2024. 189

Liquidity and Capital Resources In assessing our liquidity, we monitor and analyze our cash on -hand. To date, we have financed our working capital requirements from cash flow from operations, equity financings and capital contributions from our existing shareholders. We incurred net loss of US$6.0million and US$6.6million in the fiscal years ended June30, 2024 and 2023, respectively. Net cash used in operating activities was approximately 6.2million and US$4.9million for the fiscal years ended June30, 2024 and 2023, respectively. Our working capital deficit was approximately US$4.1million and US$1.2 million as of June 30, 2024 and 2023, respectively. We had cash and restricted cash of US$2.0million and US$1.1million as of June 30, 2024 and 2023, respectively. The accumulated deficit amounted to US$27.3million and US$19.6million as of June 30, 2024 and 2023, respectively. We have incurred, and expect to continue to incur, significant costs and negative cash flows during our business expansion. These conditions raised substantial doubts about our ability to continue as a going concern. Our liquidity is based on our ability to generate cash from operating activities, obtain capital financing from equity interest investors and borrow funds from financial institutions. Our ability to continue as a going concern is dependent on management’s