Company: FWFW
Filing Date: 2025-01-14
Form Type: 10-K
Source: 0001493152-25-002097
Chunk: 9

Company: FLYWHEEL ADVANCED TECHNOLOGY, INC.
Filing Date: 2025-01-14
Form: 10-K
Item: Item 1
Chunk 9
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, including in
light of market trends and forces beyond our control. Given our early-stage status, there is considerable uncertainty and therefore inherent
risk to investors that we will not succeed in developing and implementing a viable business plan.

The
COVID-19 pandemic could materially adversely affect our financial condition, future plans and results of operations.

This
COVID-19 pandemic has had a significant adverse effect on the economy in the United States and on most businesses. The Company is not
able to predict the ultimate impact that COVID -19 will have on its business; however, if the pandemic and government action in response
thereto impose limitations on our operations or result in a prolonged economic recession or depression, the Company’s development
and implementation of its business plan and our ability to commence and grow our operations, as well as our ability to generate material
revenue therefrom, will be hindered, which would have a material negative impact on the Company’s financial condition and results
of operations.

Because
we are dependent upon Luk Yuen Leung, our Chief Executive Officer who oversees our Company, the loss of him could adversely affect our
plan and results of operations.

Luk
Yuen Lueng, manages the Company and is presently evaluating a viable plan for our future operations. We will rely on his judgment in
connection with selecting a target company and the terms and structure of any resulting business combination. The loss of our Chief Executive
Officer could delay or prevent the achievement of our business objectives, which could have a material adverse effect upon our results
of operations and financial position.

In
addition, although not likely, the officers and directors of an acquisition candidate may resign upon completion of a combination with
their business. The departure of a target’s key personnel could negatively impact the operations and prospects of our post-combination
business. The role of a target’s key personnel upon the completion of the transaction cannot be ascertained at this time. Although
we contemplate that certain or all members of a target’s management team may remain associated with the target following a change
of control thereof, there can be no assurance that all of such target’s management team will decide to remain in place. The loss
of key personnel, either before or after a business combination and including management of either us or a combined entity could negatively
impact the operations and profitability of our business.

-8-

We
may be deemed to be an investment company under the Investment Company Act of 1940.

Currently,
our only significant asset are the shares