Company: FWFW
Filing Date: 2025-01-14
Form Type: 10-K
Source: 0001493152-25-002097
Chunk: 289

Company: FLYWHEEL ADVANCED TECHNOLOGY, INC.
Filing Date: 2025-01-14
Form: 10-K
Item: Item 4
Chunk 289
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 Company’s outstanding 10,000,000 shares of Preferred Stock were converted on a one for 1.62 basis into 16,200,000 common shares.
    Concurrently these Preferred Stock were cancelled.

    ●
    Formation
    of Blue Print Global, Inc. (November 30, 2022) – On November 30, 2022, the Company incorporated Blue Print Global, Inc.
    ( “ Blue Print ” ) in the British Virgin Islands to establish an operation to source the supply and sale of warehouse
    patrol robots. The Company holds 70% of Blue Print, and the balance is held by two individuals unrelated to the Company, with each
    party holding 15%.

    F-6

FLYWHEEL
ADVANCED TECHNOLOGY, INC.

NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS

    ●
    Blue
    Print Agency Agreement (December 7, 2022) – On December 7, 2022, Blue Print entered into an Agency Agreement (the “
    Agency Agreement ” ) with International Supply Chain Alliance Co., Ltd. of Hong Kong ( “ ISCA”). Pursuant to the
    Agency Agreement, Blue Print appointed ISCA as its authorized agent to distribute warehouse patrol robots in the People’ s
    Republic of China ( “China”). The Agency Agreement is valid for five years and will be automatically renewed for another
    five years unless a written non-renewal notice is provided by either party at least 30 days before the expiration date. However,
    there is no early termination option in the Agency Agreement.

    ●
    Share
    Exchange with QBS System Limited (December 15, 2022) – On December 15, 2022, the Company entered into a share exchange
    agreement (the “Share Exchange Agreement”) with QBS System Limited, a limited company incorporated under the laws of
    Hong Kong ( “ QBS System ” ), and its shareholder, QBS Flywheel Limited, a company incorporated under the laws of Australia
    (the “Seller”). On March 22, 2023, the Seller transferred and assigned to the Company all of the issued and outstanding
    shares of QBS System in exchange for 8,939,600 newly issued shares of the Company’s common stock, par value $0.0001 per share
    (the “Common Stock”). Following the closing of the share exchange, there will be no change in the officers and