Company: FWFW
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001641172-25-023125
Chunk: 31

Company: FLYWHEEL ADVANCED TECHNOLOGY, INC.
Filing Date: 2025-08-12
Form: 10-Q
Item: Part I, Item 1
Chunk 31
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 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. So Ha Tsang holds 15% 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.

    ●
    Sale
    of QBS System, Ponte Fides, and Mega Fortune (July 5, 2024) – On July 5, 2024, the Company and Mega Fortune, its wholly-owned
    subsidiary, completed the sale (the “Mega Fortune Disposition”) to Mericorn Company Limited (the “ Buyer “
    ), which is non-wholly owned and controlled by spouse of an owner of a significant shareholder of FWFW, of all of the equity associated
    with Mega Fortune, which is comprised of the Company ‘ s subsidiaries, Ponte Fides, QBS System and QBS System Pty, pursuant
    to a Share Purchase Agreement, dated as of