Company: FWFW
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001641172-25-023125
Chunk: 8

Company: FLYWHEEL ADVANCED TECHNOLOGY, INC.
Filing Date: 2025-08-12
Form: 10-Q
Item: Part II, Item 8
Chunk 8
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     (2,893)
  
    Cash used in assets held for sale 
     (1,017,030)
  
    Decrease in accounts payable 
     (41,755)
  
    Decrease in operating lease liabilities 
     (39,622)
  
    Decrease in accrued expenses and other current liabilities 
     (2,940)
  
    Increase in income tax payable 
     4,650 
  
    Cash used in liabilities held for sale 
    $(79,667)
  
    CASH FLOWS FROM INVESTING ACTIVITIES 

    Advance to related parties 
    $109 
  
    Purchase of property, plant and equipment 
    $(7,600)
  
    CASH FLOWS FROM FINANCING ACTIVITIES 

    Repayment of borrowings 
    $(81,605)
  
    Advance from related party 
    $35,282 

NOTE
4 - INVESTMENTS

 SCHEDULE
OF INVESTMENT

    June 30, 2025  
    September 30, 2024 
  
    Cost Method Investment 

    Elison Virtus Company Limited 
    $5,422,500  
    $5,422,500 

    Investments 
    $5,422,500  
    $5,422,500 

On
July 5, 2024, the Company entered into a Share Purchase Agreement. As consideration for entering into this agreement, the Company received
938 shares, 9.38% of total equity, of Elison at $5,422,500 which were determined using generally accepted valuation techniques based
on estimates and assumptions made by the management.

The Company has assessed for impairment
of the investment and determined that the investment amount is not impaired.

NOTE
5 - RELATED PARTY TRANSACTIONS

The
Company owed a related company, Flywheel Financial Strategy (Hong Kong) Company Limited of $880,025 and $743,261 as of June 30, 2025
and September 30, 2024, respectively for advances from the related company, which was repayable on demand and interest free.

13

Item
2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.

FORWARD-LOOKING
STATEMENTS

This
quarterly report contains forward-looking statements. These statements relate to future events or our future financial performance. In
some cases, you can identify forward-looking statements by terminology