Company: FWFW
Filing Date: 2025-01-14
Form Type: 10-K
Source: 0001493152-25-002097
Chunk: 146

Company: FLYWHEEL ADVANCED TECHNOLOGY, INC.
Filing Date: 2025-01-14
Form: 10-K
Item: Item 1B
Chunk 146
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     30.21%

*
Less than 1%.

1
Unless otherwise indicated, the business address of each individual or entity listed in the table is c/o: Flywheel Advanced Technology,
Inc., 123 West Nye Lane, Suite 455, Carson City, Nevada 83702.

2
Tang Siu Fung, is the controlling shareholder of Sparta Universal Industrial Ltd., which holds 11,455,645 shares of the Company’s
common stock.

The
business address for QBS Flywheel Limited is “GATEWAY” L36, 1 Macquarie PI, Sydney, NSW 2000, Australia.

-23-

ITEM
13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE

SEC
rules require us to disclose any transaction or currently proposed transaction in which the Company is a participant and in which any
related person has or will have a direct or indirect material interest involving the lesser of $120,000.00 or one percent (1%) of the
average of the Company’s total assets as of the end of last two completed fiscal years. A related person is any executive officer,
director, nominee for director, or holder of 5% or more of the Company’s common stock, or an immediate family member of any of
those persons.

Except
as disclosed below, since the beginning of the fiscal year preceding the last fiscal year none of the following persons has had any direct
or indirect material interest in any transaction to which our Company was or is a party, or in any proposed transaction to which our
Company proposes to be a party:

    ●
    any
    Director or officer of our Company;

    ●
    any
    proposed Director or officer of our Company;

    ●
    any
    person who beneficially owns, directly or indirectly, shares carrying more than 5 percent of the voting rights attached to our Common
    Stock; or

    ●
    any
    member of the immediate family of any of the foregoing persons (including a spouse, parents, children, siblings, and in-laws).

On
September 15, 2022, Sparta provided notice to the Company to convert all of the issued and outstanding A-1 Preferred Shares into 16,200,000
shares of common stock. The board of directors of the Company approved the conversion and agreed that the Company would not charge any
fee or expense for such conversion.

As
of March 22,