Company: SCAG
Filing Date: 2025-11-12
Form Type: 20-F
Source: 0001213900-25-109190
Chunk: 216

Company: Scage Future
Filing Date: 2025-11-12
Form: 20-F
Item: Item 19
Chunk 216
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42,050  
  Deposits                                                                          42,824          30,944  
  Loans to Finnovate Sponsor L. P. before Business Combination                           -         169,844  
  Loans to Finnovate Acquisition Corp. before Business Combination (2)                   -         200,000  
  Others                                                                           224,026          81,498  
  Gross amount                                                                   1,255,377       3,063,199  
  Less: Provision for credit losses                                              ( 179,540       ( 206,168  
  Total prepaid expenses and other current assets, net                          $1,075,837      $2,857,031  

  (1)      Loans to third parties represents interest free loans provided to third parties. All of the loans shall be repaid within 1 year since the payment date of each loan, and were due between July 20...  
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  (2)      On January 26, 2024, Scage International accepted an unsecured promissory note (the “ January 2024 Promissory Note”) in the aggregate principal amount of up to US$ 1,500,000 from Finnovate, for...  
 ─────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────

F-25

SCAGE
FUTURE

NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS

(In
U. S. dollars, except for share and per share data, or otherwise noted)

  PREPAID                                         

The
Group recognized reversal of provision for credit losses of US$ 29,401 207,378 29,573 Movement of provision for credit losses was as
follows:

                                               For the years ended June 30,                                                               
                                               2025                                            2024                   2023                
  Balance at beginning of the year             $                                  206,168      $         -            $         -         
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Changes in credit losses                                                       ( 29,401                207,378                29,573    
  Write-offs                                                                            -                -                      ( 29,573  
  Foreign currency translation adjustment                                           2,773                ( 1,210