Company: FWFW
Filing Date: 2025-01-14
Form Type: 10-K
Source: 0001493152-25-002097
Chunk: 354

Company: FLYWHEEL ADVANCED TECHNOLOGY, INC.
Filing Date: 2025-01-14
Form: 10-K
Item: Item 6
Chunk 354
---
078)
  
    Other income 
     244,259  
     344,461 
  
    Interest expenses, net 
     (15,456) 
     (10,752)
  
    (LOSS)/INCOME BEFORE INCOME TAXES 
     (549,199) 
     238,631 
  
    Income taxes 
     151,185  
     (2,357)
  
    NET (LOSS)/INCOME 
     (398,014) 
     236,274 
  
    Foreign currency translation income/(loss) 
     5,434  
     (2,691)
  
    COMPREHENSIVE (LOSS)/INCOME 
    $(392,580) 
    $233,583 

During
the year ended September 30, 2024, the results of the discontinued business included operations through the date of the Mega Fortune
Disposition (July 5, 2024). Upon the Mega Fortune Disposition, we recognized a gain on sale of $2.45 million in paid in capital.

-15-

Liquidity
and Capital Resources

The
following table presents selected financial information:

    For the Year Ended September 30, 

    2024  
    2023 

    Current assets - continuing operations 
    $3,987  
    $3,667 
  
    Current assets - discontinued operations 
     -  
     4,630,124 
  
    Current assets 
    $3,987  
    $4,633,791 
  
    Current liabilities - continuing operations 
    $824,253  
    $511,860 
  
    Current liabilities - discontinued operations 
     -  
     1,257,681 
  
    Current liabilities 
    $824,253  
    $1,769,541 
  
    Working capital 
    $(820,266) 
    $2,864,250 
  
    Working capital - continuing operations 
    $(820,266) 
    $(508,193)
  
    Working capital - discontinuing operations 
     -  
     3,372,443 
  
    Working capital 
    $(820,266) 
    $2,864,250 

As
of September 30, 2024, we had investments at cost, including 938 shares of Elison common stock with an estimated fair value of $5.42