In a small saucepan, whisk together 1/4 cup water, the soy sauce and sugar over high heat. Bring to a boil and cook until reduced to a syrup, about 5 minutes (you should have about 3 tablespoons).
In a large nonstick skillet, heat the olive oil over medium-high heat. Add the mushrooms and asparagus and cook until the vegetables are tender, about 5 minutes. Stir in the shrimp, scallions and bean sprouts and cook for 2 to 3 minutes.
Season the eggs with salt and pepper and pour over the mixture. Cook, pulling back the edges and tipping the pan to let the uncooked eggs flow underneath, until the eggs are set, about 5 minutes. Cover and let stand for 3 minutes. Drizzle the soy mixture on top and sprinkle with more bean sprouts.