Company: FWFW
Filing Date: 2025-02-13
Form Type: 10-Q
Source: 0001493152-25-006388
Chunk: 12

Company: FLYWHEEL ADVANCED TECHNOLOGY, INC.
Filing Date: 2025-02-13
Form: 10-Q
Item: Part I, Item 1
Chunk 12
---
13

Summarized
cash flow information for the three reportable segments discontinued operations are as follows:

 SCHEDULE
OF CASH FLOW INFORMATION

    For the three 
months ended December 31, 
2023 
  
    CASH FLOWS FROM OPERATING ACTIVITIES 

    Amortization 
    $17,218 
  
    Depreciation 
     1,968 
  
    Lease amortization 
     12,201 
  
    Allowance of expected credit losses 
     59,250 
  
    Reversal of allowance of expected credit losses 
     (85,373)
  
    Deferred income taxes 
     879 

    Increase in accounts receivable 
     (270,420)
  
    Cash used in assets held for sale 
     (270,420)

    Decrease in accounts payable 
     (47,758)
  
    Decrease in operating lease liabilities 
     (13,359)
  
    Increase in accrued expenses and other current liabilities 
     25,851 
  
    Increase in income tax payable 
     7,725 
  
    Cash used in liabilities held for sale 
    $(27,541)

    CASH FLOWS FROM INVESTING ACTIVITIES 

    Purchase of property, plant and equipment 
    $(5,176)

    CASH FLOWS FROM FINANCING ACTIVITIES 

    Proceeds from bank overdraft 
    $127,914 
  
    Repayment of borrowings 
     (26,986)
  
    Repayment to related party 
    $(191,963)

NOTE
4 - INVESTMENTS

 SCHEDULE
OF INVESTMENTS

    December 31,  
    September 30, 

    2024  
    2024 
  
    Cost Method Investment 

    Elison Virtus Company Limited 
    $5,422,500$ 
     5,422,500 

On
July 5, 2024, the Company entered into a Share Purchase Agreement. As consideration for entering into this agreement, the Company received
938 shares, 9.38% of total equity, of Elison at estimated fair value of $5,422,500 which were determined using generally accepted valuation
techniques based on estimates and assumptions made by management.

NOTE
5 - RELATED PARTY TRANSACTIONS

The
Company owed a related company, Flywheel Financial Strategy