Scage Future

SCAGdata completeness 100%3 fiscal years on file

Data notes: no data for concept 'interestExpense'; no data for concept 'incomeTaxExpense'

i. The business — what you’d actually own

Figure	FY 2023	FY 2024	FY 2025
Revenue	$437,970¹	$6.11M¹	$11.1M¹
Net income	−$6.44M²	−$5.81M²	−$12.9M²
Operating cash flow	−$4.89M³	−$6.22M³	−$5.89M³
Capital expenditure	$166,170⁴	$51,292⁴	$13,490⁴
Free cash flow (derived)	−$5.06M³	−$6.28M³	−$5.91M³
Total debt	—	$8.42M⁵	$9.63M⁵
Cash & equivalents	$172,703⁶	$1.98M⁶	$90,758⁶
Diluted shares	50.7M	50.7M	72.2M

Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom).

ii. Your slice — ownership made literal

If you owned

Net assets behind them

−$0.73

your share of equity

Profit it earned you last year

−$1.79

Free cash flow it threw off

−$0.82

Debt you’d be carrying

$1.33

10 shares is a claim on −$0.73 of net worth that earned you −$1.79 and generated −$0.82 of cash last year, against $1.33 of debt.

iii. Is this a good business?

Moat signal · return on equity

— avg · 3y

Not enough data in the filings for a return-on-capital reading.

Management signal · capital allocation

+42% shares · 3y

Share count is up 42% over 3 years — owners have been diluted. Worth asking what they got for it. Total debt has risen 14% over the same window.

Signals, not verdicts — read from the filings above. Numbers don’t prove a moat; they show its footprint. You decide.

iv. What it’s worth — engine v0.1.0

DCF · Growth Exit 10Y

not applicable

3y-median FCF non-positive — growth-exit DCF not applicable (see EPV)

DCF · Growth Exit 5Y

not applicable

3y-median FCF non-positive — growth-exit DCF not applicable (see EPV)

Earnings Power Value

not applicable

normalized (5y-median) earnings non-positive — EPV undefined

Graham Number

not applicable

diluted EPS missing or non-positive — Graham Number undefined

Different models answer different questions — which to trust when →

Sources — the receipts