Company: FWFW
Filing Date: 2025-01-14
Form Type: 10-K
Source: 0001493152-25-002097
Chunk: 432

Company: FLYWHEEL ADVANCED TECHNOLOGY, INC.
Filing Date: 2025-01-14
Form: 10-K
Item: Item 7A
Chunk 432
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As
a “smaller reporting company” as defined by Item 10 of Regulation S-K, the Company is not required to provide information
required by this Item.

ITEM
8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

-18-

FLYWHEEL
ADVANCED TECHNOLOGY, INC.

CONSOLIDATED
FINANCIAL STATEMENTS

AS
OF SEPTEMBER 30, 2024 AND 2023

CONTENTS

    Pages
  
    Report
    of Independent Registered Public Accounting Firm
     
    F-1

    Consolidated
    Balance Sheets as of September 30, 2024 and 2023
     
    F-2

    Consolidated Statements of Operations and Comprehensive Income/(loss) for the Year Ended September 30, 2024 and 2023
     
    F-3

    Consolidated Statements of Changes in Stockholders’ Equity for the Year Ended September 30, 2024 and 2023
     
    F-4

    Consolidated Statements of Cash Flows for the Year Ended September 30, 2024 and 2023
     
    F-5

    Notes to Consolidated Financial Statements
     
    F-6
    - F-14

-19-

REPORT
OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To
the Board of Directors and Stockholders of Flywheel Advanced Technology, Inc.

Opinion
on the Consolidated Financial Statements

We
have audited the accompanying consolidated balance sheets of Flywheel Advanced Technology, Inc. (the “Company”) as of September
30, 2024 and 2023, the related consolidated statement of operations, stockholders’ equity (deficit), and cash flows for the years
then ended and the related notes (collectively referred to as the “financial statements”). In our opinion, the consolidated
financial statements present fairly, in all material respects, the financial position of the Company as of September 30, 2024 and 2023,
and the results of its operations and its cash flows for the years then ended, in conformity with accounting principles generally accepted
in the United States.

Substantial
Doubt about the Company’s Ability to Continue as a Going Concern

The
accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. As discussed
in Note 2 to the consolidated financial statements, the Company’s significant operating losses raise substantial doubt about