Company: FWFW
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001641172-25-009382
Chunk: 14

Company: FLYWHEEL ADVANCED TECHNOLOGY, INC.
Filing Date: 2025-05-09
Form: 10-Q
Item: Part II, Item 8
Chunk 14
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the state level. Such obligations could divert considerable human and financial resources toward compliance efforts, potentially adversely
affecting our future operating results.

18

Results
of Operations:

Comparison
of the Three Months Ended March 31, 2025 and 2024

The
following table provides the consolidated results of our continuing operations:

    For
                                            the Three Months Ended
                                                                                March
                                            31, 

    2025  
    2024 

    Revenue, net 
    $-  
    $- 
  
    Operating
    expenses 
     (18,539) 
     (45,838)
  
    LOSS FROM OPERATIONS 
     (18,539) 
     (45,838)
  
    LOSS BEFORE INCOME TAXES 
     (18,539) 
     (45,838)
  
    Income taxes 
     -  
     - 
  
    NET LOSS FROM CONTINUING OPERATIONS 
     (18,539) 
     (45,838)
  
    Discontinued operations,
    net of tax 
     -  
     (22,495)
  
    NET LOSS 
     (18,539) 
     (68,333)
  
    Foreign currency translation
    loss 
     -  
     5,544 
  
    COMPREHENSIVE LOSS 
    $(18,539) 
    $(73,877)

Revenue

During
the three months ended March 31, 2025 and 2024, we did not have any revenues.

Operating
expenses

General
and administrative expenses

During
the three months ended March 31, 2025, our operating expenses consisted primarily of professional fees of $17,244 and filing and other
fees of $1,295. During the three months ended March 31, 2024, our operation expenses consisted primarily of professional fees of $44,600
and filing and other fees of $1,238.

All
operating expenses related to the QBS System segment were classified as held for sale or into discontinued operations due to the Mega
Fortune Disposition.

Income
tax expenses

There
is no income tax expenses for the three months ended March 31, 2025 and 2024.

Discontinued
Operations

Net
profit from discontinued operations of $0 during the three months ended March 31, 2025, compared to net loss