Company: FWFW
Filing Date: 2025-01-14
Form Type: 10-K
Source: 0001493152-25-002097
Chunk: 62

Company: FLYWHEEL ADVANCED TECHNOLOGY, INC.
Filing Date: 2025-01-14
Form: 10-K
Item: Item 1A
Chunk 62
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 target company and the terms and structure of any resulting business combination. The loss of our Chief Executive
Officer could delay or prevent the achievement of our business objectives, which could have a material adverse effect upon our results
of operations and financial position.

In
addition, although not likely, the officers and directors of an acquisition candidate may resign upon completion of a combination with
their business. The departure of a target’s key personnel could negatively impact the operations and prospects of our post-combination
business. The role of a target’s key personnel upon the completion of the transaction cannot be ascertained at this time. Although
we contemplate that certain or all members of a target’s management team may remain associated with the target following a change
of control thereof, there can be no assurance that all of such target’s management team will decide to remain in place. The loss
of key personnel, either before or after a business combination and including management of either us or a combined entity could negatively
impact the operations and profitability of our business.

-8-

We
may be deemed to be an investment company under the Investment Company Act of 1940.

Currently,
our only significant asset are the shares of Elison Virtus Company Limited. Accordingly, we may be deemed to be an investment company
under the Investment Company Act and as such, we would either have to register as an investment company under the Investment Company
Act, obtain exemptive relief from the SEC or modify our investments or organizational structure or our contract rights to fall outside
the definition of an investment company. Registering as an investment company could, among other things, materially adversely affect
our financial condition, business and results of operations, materially limit our ability to borrow funds or engage in other transactions
involving leverage and require us to add directors who are independent of us and otherwise will subject us to additional regulation that
will be costly and time-consuming.

Risks
Related to a Potential Business Acquisition

We
may encounter difficulty locating and consummating a business combination, including as a result of the competitive disadvantages we
have.

We
expect to face intense competition in our search for a revenue-producing business to combine with or acquire. Given the current economic
climate, venture capital firms, larger companies, blank check companies such as special purpose acquisition companies and other investors
are purchasing operating entities or the assets thereof in high volumes and at relatively discounted prices. These parties may have greater
capital or human resources than we do and/or more experience in a particular industry within