Company: FWFW
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001641172-25-009382
Chunk: 17

Company: FLYWHEEL ADVANCED TECHNOLOGY, INC.
Filing Date: 2025-05-09
Form: 10-Q
Item: Part II, Item 8
Chunk 17
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operating activities amounted to $110,674, compared to $98,912 for the same period in 2024. This increase of $11,762 in cash used during
the six months ended March 31, 2025 was primarily due to discontinued operations.

Cash
flows from investing activities reflect capital expenditure for the purchase of Company’s assets. Cash used in investing activities
during the six month ended March 31, 2025 was $0 compared to cash used in investing activities of $7,299 due to purchase of property,
plant and equipment during the six months ended March 31, 2024.

Cash
flows from financing activities generally reflect changes in debt activity during the period. Net cash provided by financing activities
was $110,674 for the six months ended March 31, 2025 compared to net cash used in financing activities of $75,893 for the six months
ended March 31, 2024. Net cash provided by financing activities for the six months ended March 31, 2025 was primarily attributable to
advance from related party of $110,674. Net cash used in financing activities for the six months ended March 31, 2024 was attributable
to repayment of borrowings of $54,192 and repayment to related party of $21,701.

Management
believes the net cash provided by financing activities will be sufficient to fund operations for the next 12 months and beyond.

21

Going
Concern

The
Company incurred a net operating loss of approximately $0.05 million, had negative cash flows from operating activities of $0.11 million
during the six months ended March 31, 2025, and had minimum cash balance as of its fiscal year end. The Company is currently in the process
of entering into certain arrangements to raise additional capital, which it believes to be probable of occurring as of the date of the
filing. As such, the Company believes that the substantial doubt about our ability to continue as a going concern has been alleviated
as a result of consideration of management’s plans.

Critical
Accounting Estimates

The
preparation of our consolidated financial statements in conformity with GAAP requires management to make judgments, estimates and assumptions
that impact the amounts reported in our consolidated financial statements and accompanying notes that are not readily apparent from other
sources. The estimates and associated assumptions are based on historical experience and other factors that are considered relevant.
Actual results may differ from these estimates.

Recently
issued Accounting Pronouncements