Company: FWFW
Filing Date: 2025-01-14
Form Type: 10-K
Source: 0001493152-25-002097
Chunk: 206

Company: FLYWHEEL ADVANCED TECHNOLOGY, INC.
Filing Date: 2025-01-14
Form: 10-K
Item: Item 2
Chunk 206
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    cash provided by financing activities 
     395,529  
     222,567 
  
    NET (DECREASE)/INCREASE
    IN CASH AND EQUIVALENTS 
     (618,771) 
     621,621 
  
    EFFECT OF EXCHANGE RATES
    ON CASH 
     (2,230) 
     (620)
  
    AT BEGINNING OF PERIOD 
     621,001  
     - 

    CASH
    AND EQUIVALENTS AT END OF PERIOD 
    $-  
    $621,001 

    SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION 

     Cash
                                            paid for income taxes 
    $3,374 
    $ 33,492 
  
    Cash
    paid for interest 
    $15,456 
    $10,869 
  
    SUPPLEMENTAL SCHEDULE OF
    NON-CASH INVESTING AND FINANCING ACTIVITIES 

    Investment
    obtained from sales of Mega Fortune 
    $5,422,500  
     - 

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

F-5

FLYWHEEL
ADVANCED TECHNOLOGY, INC.

NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS 

SEPTEMBER
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 “Shares”) of the Company. As a result, the Purchaser became approximately
    90% holder of the voting rights of the issued and outstanding shares of the Company, on a fully diluted basis and became the controlling
    shareholder. At the effective date of transfer, David Lazar ceased to be the Company