Company: SCAG
Filing Date: 2025-01-06
Form Type: 424B3
Source: 0001213900-25-001215
Chunk: 277

Company: Scage Future
Filing Date: 2025-01-06
Form: 424B3
Chunk 277
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 In early 2024, due to developments observed since January 2024, Scage International’s management determined that the Initial Financial Projections no longer represented management’s reasonable view on Scage International’s future financial performance. Following a series of meeting described under “Background of the Business Combination—Description of Negotiations between Finnovate and Scage International,” as well as feedback from potential investors, Scage International management reassessed its business plan and reviewed its preliminary results for the fiscal year ended June 30, 2024. Based on that reassessment and review, Scage International management determined that it was appropriate to update its financial projections. Accordingly, Ms. Xiang updated the Initial Projections in May 2024 (the Updated Projections, together with the Initial Projections, the “financial projections”).

115 Finnovate provided copies of the financial projections, prepared by Scage International management, to ValueScope, who was authorized and directed to use such financial projections for purposes of its financial analyses and opinion. The financial projections should not be viewed as public guidance. The financial projections were not prepared with a view toward public disclosure, or complying with the published guidelines of the SEC regarding projections or the guidelines established by the American Institute of Certified Public Accountants for preparation and presentation of prospective financial information, but, in the view of Scage International’s management, were prepared on a reasonable basis, reflecting the best currently available estimates and judgments, and present, to the best knowledge and belief of Scage International’s management, the expected course of action and revenues that Scage International anticipates generating, assuming the assumptions incorporated in the financial projections are themselves realized. Scage International’s management believes the assumptions included in the financial projections to be reasonable, based on currently available information and professional judgement and experience, which are inherently uncertain and difficult to predict and many of which are beyond Scage International’s control. Scage International management determined four years to be a reasonable period to forecast estimated revenues because Scage International’s management believes that four years would be a reasonable period of time for Scage International’s product and service offerings to be well -developedand integrated into the market and for Scage International to have established brand recognition among customers, vendor and suppliers. The financial projections should not be viewed as public guidance and you are cautioned not to place undue reliance on the financial projections. The financial projections are not included in this proxy statement/prospectus in order to induce any Finnovate shareholders to vote in favor of any of the proposals at the Meeting. The assumptions