Company: SCAG
Filing Date: 2025-01-06
Form Type: 424B3
Source: 0001213900-25-001215
Chunk: 436

Company: Scage Future
Filing Date: 2025-01-06
Form: 424B3
Chunk 436
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 recognition as derivatives. The amendments are effective for smaller reporting companies for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years. Early adoption is permitted, but no earlier than fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. We adopted ASU 2020 -06on January1, 2024. There was no material impact on our financial position, results of operations or cash flows. In June 2022, the FASB issued ASU 2022 -03. ASU 2022 -03amends ASC 820 to clarify that a contractual sales restriction is not considered in measuring an equity security at fair value and to introduce new disclosure requirements for equity securities subject to contractual sale restrictions that are measured at fair value. ASU 2022 -03applies to both holders and issuers of equity and equity -linkedsecurities measured at fair value. The amendments in ASU 2022 -03are effective for us in fiscal years beginning after December 15, 2023 and interim 215 periods within those fiscal years. Early adoption is permitted for both interim and annual financial statements that have not yet been issued or made available for issuance. We are currently assessing what impact, if any, that ASU 2022 -03would have on our financial position, results of operations or cash flows. In December 2023, the FASB issued ASU No 2023 -09, “Income Taxes (Topic 740)—Improvements to Income Tax Disclosures” (“ASU 2023 -09”) in order to enhance the transparency and usefulness of income tax disclosures. The guidance is applicable to all entities subject to income tax, and it will require disclosure of certain categories within the rate reconciliation to improve consistency as well as disclosure of reconciling items which meet a certain quantitative threshold which will improve transparency. Additionally, entities must disclose the amount of taxes paid to federal, state and foreign municipalities. For public business entities ASU 2023 -09is effective for annual periods beginning after December15, 2024. We are currently evaluating the impact of its pending adoption of ASU 2023 -09on our financial position, results of operations or financial statement disclosure. We do not believe that any other recently issued, but not effective, accounting standards, if currently adopted, would have a material effect on our unaudited condensed financial statements. JOBS Act The JOBS Act contains provisions that, among other things