Business Context and Reporting Period
This Form 6-K filing by Scage Future, a Cayman Islands-incorporated company, covers the month of August 2025. The report discloses a material change in the company's independent auditor effective August 28, 2025.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on the change of the certifying accountant and related disclosures regarding internal controls.
Material Changes
- Auditor Change: The Board approved the termination of Marcum Asia CPAs LLP and the engagement of HTL International, LLC as the new independent auditor, effective August 28, 2025.
- Prior Audit Opinion: Marcum Asia's reports for fiscal years ended June 30, 2024, and 2023 included an explanatory paragraph regarding the Company's ability to continue as a going concern, though they were not adverse, qualified, or disclaimed.
- Disagreements: There were no disagreements with Marcum Asia on accounting principles, practices, or audit scope during the two most recent fiscal years or through August 28, 2025.
Outlook, Risks, and Contingencies
The filing identifies specific material weaknesses in internal control over financial reporting that were present during the two most recent fiscal years and through the date of the filing:
- Insufficient financial reporting and accounting personnel with appropriate knowledge and experience in U.S. GAAP and SEC rules.
- Lack of sufficient controls in the IT environment, specifically regarding logical access security, IT service organization, and cybersecurity for financial systems.
The Company did not consult with the new auditor, HTL, regarding any accounting principles or matters that were subjects of disagreement or reportable events prior to engagement.
Investor Verification Checklist
- Verify the status of the "going concern" explanatory paragraph noted in prior audits and whether it has been resolved.
- Confirm the timeline and progress of remediation efforts for the identified material weaknesses in internal controls and IT security.
- Review the letter from Marcum Asia (Exhibit 16.1) to ensure no undisclosed disagreements exist.
- Assess the qualifications and experience of the new auditor, HTL International, LLC, relative to the Company's specific reporting needs.