Business Context and Reporting Period
This Form 6-K filing by Scage Future covers the month of June 2026, with the report dated June 17, 2026. The company is a foreign private issuer headquartered in Nanjing, China, with American Depositary Shares (ADSs) listed on the Nasdaq Capital Market.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on regulatory compliance and corporate governance matters rather than financial performance.
Material Changes
- Nasdaq Deficiency Notice: On June 11, 2026, the company received notice that its ADSs failed to maintain the minimum bid price of $1.00 per share for 30 consecutive business days, violating Nasdaq Listing Rule 5550(a)(2).
- Director Resignation: On April 8, 2026, Mr. Calvin Kung resigned as an independent director due to unresolved disagreements regarding company operations. No successor has been appointed as of the filing date.
Outlook, Risks, and Management Commentary
Compliance Timeline: The company has 180 calendar days, until December 8, 2026, to regain compliance. To do so, the ADSs must close at or above $1.00 for 10 consecutive business days and must not trade at or below $0.10 for more than 10 consecutive days.
Delisting Risk: Failure to regain compliance by the deadline may result in delisting. While the company may appeal a delisting determination, there is no assurance of success.
Management Action: Management intends to monitor the stock price and may consider a reverse stock split to regain compliance, though success is not guaranteed.
Investor Verification Checklist
- Verify the current closing bid price of Scage Future ADSs to assess proximity to the $1.00 compliance threshold.
- Confirm whether the board has initiated a search for a replacement independent director following Mr. Kung's resignation.
- Monitor for any announcements regarding a potential reverse stock split or other capital structure changes.
- Review the company's next periodic financial report for actual revenue and liquidity data, as this filing contains none.