Company: FWFW
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001641172-25-009382
Chunk: 27

Company: FLYWHEEL ADVANCED TECHNOLOGY, INC.
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 2
Chunk 27
---
1,295. During the three months ended March 31, 2024, our operation expenses consisted primarily of professional fees of $44,600
and filing and other fees of $1,238.

All
operating expenses related to the QBS System segment were classified as held for sale or into discontinued operations due to the Mega
Fortune Disposition.

Income
tax expenses

There
is no income tax expenses for the three months ended March 31, 2025 and 2024.

Discontinued
Operations

Net
profit from discontinued operations of $0 during the three months ended March 31, 2025, compared to net loss from discontinued operations
of $22,495 during the three months ended March 31, 2024. The change was primarily attributable to the Mega Fortune Disposition completed
on July 5, 2024.

Net
loss

Net
loss decreased by $49,795 to $18,538 from $68,333 for the three months ended March 31, 2025, compared to the same period in 2024. This
decrease is primarily driven by decrease in professional fees due to Mega Fortune Disposition completed on July 5, 2024.

19

Other
comprehensive loss

Foreign
currency translation loss

There
is no foreign currency translation gain for the three months ended March 31, 2025. Foreign currency translation loss of $5,544 for the
three months ended March 31, 2024 is incurred on translation of assets and liabilities of discontinued operations in reporting currency
adopted to the reporting currency of the Company.

Comparison
of the Six Months Ended March 31, 2025 and 2024

The
following table provides the consolidated results of our continuing operations:

    For
                                            the Six Months Ended
                                                                                March
                                            31, 

    2025  
    2024 

    Revenue, net 
    $-  
    $- 
  
    Operating
    expenses 
     (45,252) 
     (215,127)
  
    LOSS FROM OPERATIONS 
     (45,252) 
     (215,127)
  
    LOSS BEFORE INCOME TAXES 
     (45,252) 
     (215,127)
  
    Income taxes 
     -  
     - 
  
    NET LOSS FROM CONTINUING OPERATIONS 
     (45,252)