Company: FWFW
Filing Date: 2025-01-14
Form Type: 10-K
Source: 0001493152-25-002097
Chunk: 315

Company: FLYWHEEL ADVANCED TECHNOLOGY, INC.
Filing Date: 2025-01-14
Form: 10-K
Item: Item 5
Chunk 315
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 Fortune Disposition, we recognized a gain on sale of $2.45 million in paid in capital.

-15-

Liquidity
and Capital Resources

The
following table presents selected financial information:

    For the Year Ended September 30, 

    2024  
    2023 

    Current assets - continuing operations 
    $3,987  
    $3,667 
  
    Current assets - discontinued operations 
     -  
     4,630,124 
  
    Current assets 
    $3,987  
    $4,633,791 
  
    Current liabilities - continuing operations 
    $824,253  
    $511,860 
  
    Current liabilities - discontinued operations 
     -  
     1,257,681 
  
    Current liabilities 
    $824,253  
    $1,769,541 
  
    Working capital 
    $(820,266) 
    $2,864,250 
  
    Working capital - continuing operations 
    $(820,266) 
    $(508,193)
  
    Working capital - discontinuing operations 
     -  
     3,372,443 
  
    Working capital 
    $(820,266) 
    $2,864,250 

As
of September 30, 2024, we had investments at cost, including 938 shares of Elison common stock with an estimated fair value of $5.42
million at 5 July 2024. Our operations have primarily been financed through the issuance of our common stock and cash advances from a related
company.

As
of September 30, 2024 and 2023, our total current assets were $3,987 and $4,633,791, including discontinuing operations of $4.62 million,
respectively.

As
of September 30, 2024, our current liabilities were $824,253 and stockholders’ equity was $4.60 million compared to current liabilities
of $1,769,541, including discontinuing operations of $1.26 million and stockholder ‘s equity of $2.85 million as of September 30,
2023.

The
Company expects that its cash and cash equivalents as of September 30, 2024 will be insufficient to allow the Company to fund its current
operating plan through at least the next twelve months from the issuance of these financial statements. These conditions may raise