Company: FWFW
Filing Date: 2025-01-14
Form Type: 10-K
Source: 0001493152-25-002097
Chunk: 369

Company: FLYWHEEL ADVANCED TECHNOLOGY, INC.
Filing Date: 2025-01-14
Form: 10-K
Item: Item 6
Chunk 369
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 with QBS System Limited (December 15, 2022) – On December 15, 2022, the Company entered into a share exchange
    agreement (the “Share Exchange Agreement”) with QBS System Limited, a limited company incorporated under the laws of
    Hong Kong ( “ QBS System ” ), and its shareholder, QBS Flywheel Limited, a company incorporated under the laws of Australia
    (the “Seller”). On March 22, 2023, the Seller transferred and assigned to the Company all of the issued and outstanding
    shares of QBS System in exchange for 8,939,600 newly issued shares of the Company’s common stock, par value $0.0001 per share
    (the “Common Stock”). Following the closing of the share exchange, there will be no change in the officers and directors
    of the Company, and QBS System will continue its business as a wholly owned subsidiary of the Company.

    ●
    Common
    Stock Issuances (May 24, 2023) – On May 24, 2023, the Company issued 1,450,000 shares of common stock to each of Sau Ping
    Leung and So Ha Tsang. Such shares were issued on May 24, 2023. These two individuals collectively hold 30% of Blue Print.

    ●
    Formation
    of Mega Fortune Company Limited and Ponte Fides Company Limited (January 30, 2024 and February 13, 2024) – On January 30,
    2024 and February 13, 2024, the Company incorporated Mega Fortune Company Limited ( “ Mega Fortune ” ) in the Cayman
    Islands and Ponte Fides Company Limited (“Ponte Fides”) in the British Virgin Islands, respectively.

    ●
    Transfer
    of QBS System Shares to Ponte Fides Company Limited (April 29, 2024) – On April 29, 2024, the Company transferred all of
    the issued and outstanding shares of QBS System at HK$100 under a restructuring. Following the closing of the share transfer, there
    will be no change in the officers and directors of the Company, and QBS System will continue its business as a wholly owned subsidiary
    of the Company.

QBS
System was incorporated in Hong Kong on April 14, 2011 with limited liability and its principal activities are providing Internet of
Things