Company: FWFW
Filing Date: 2025-02-13
Form Type: 10-Q
Source: 0001493152-25-006388
Chunk: 4

Company: FLYWHEEL ADVANCED TECHNOLOGY, INC.
Filing Date: 2025-02-13
Form: 10-Q
Item: Part I, Item 1
Chunk 4
---
 -  
     (27,541)
  
    Net cash used in operating activities 
     (77,034) 
     (355,940)

    CASH FLOWS FROM INVESTING ACTIVITIES 

    Purchase of property, plant and equipment 
     -  
     (5,176)
  
    Net cash used in investing activities 
     -  
     (5,176)

    CASH FLOWS FROM FINANCING ACTIVITIES 

    Proceeds from bank overdraft 
     -  
     127,914 
  
    Repayment of borrowings 
     -  
     (26,986)
  
    Advances from/ (Repayment to) related party 
     77,034  
     (46,862)
  
    Net cash provided by financing activities 
     77,034  
     54,066 

    NET DECREASE IN CASH AND EQUIVALENTS 
     -  
     (307,050)
  
    EFFECT OF EXCHANGE RATES ON CASH 
     -  
     2,416 
  
    AT BEGINNING OF PERIOD 
     -  
     621,001 

    CASH AND EQUIVALENTS AT END OF PERIOD 
    $-  
    $316,367 

    SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION 

    Cash paid for interest 
    $-  
    $5,249 

The
accompanying notes are an integral part of these unaudited condensed consolidated financial statements

8

December
30, 2024 and 2023

(Unaudited)

NOTE-
1 ORGANIZATION AND BUSINESS BACKGROUND

Flywheel
Advanced Technology, Inc. (formerly known as Pan Global Corp.) (“the Company”) was incorporated in the state of Nevada on
April 30, 2010.

The
Company had the following significant events:

    ●
    Stock
    Purchase Agreement (July 13, 2021) – In July 2021, the Company entered into a Stock Purchase Agreement between NYJJ Hong
    Kong Limited (Seller) and Sparta Universal Industrial Ltd. (Purchaser), wherein the Purchaser purchased 10,000,000 shares
    of Series A-1 Preferred Stock, par value $0.0001 per
    share (the