Company: FWFW
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001641172-25-023125
Chunk: 45

Company: FLYWHEEL ADVANCED TECHNOLOGY, INC.
Filing Date: 2025-08-12
Form: 10-Q
Item: Part I, Item 1
Chunk 45
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205)
  
    Income taxes 
     -  
     - 
  
    NET LOSS FROM CONTINUING OPERATIONS 
     (70,513) 
     (320,205)
  
    Discontinued operations, net of tax 
     -  
     125,699 
  
    NET LOSS 
     (70,513) 
     (194,506)
  
    Foreign currency translation gain 
     -  
     6,872 
  
    COMPREHENSIVE LOSS 
    $(70,513) 
    $(187,634)

Revenue

During
the nine months ended June 30, 2025 and 2024, we did not have any revenue.

Operating
expenses

General
and administrative expenses

During
the nine months ended June 30, 2025, our operating expenses consisted primarily of professional fees of $66,900 and filing and other
fees of $3,613. During the nine months ended June 30, 2024, our operation expenses consisted primarily of professional fees arising from
acquisition of QBS System of $316,387 and filing and other fees of $3,818.

All
operating expenses related to the QBS System segment were classified as held for sale or discontinued operations due to the Mega Fortune
Disposition.

Income
tax expenses

There
is no income tax expense for the nine months ended June 30, 2025 and 2024.

Discontinued
Operations

Net
profit from discontinued operations of $0 during the nine months ended June 30, 2025, compared to net income from discontinued operations
of $125,699 during the nine months ended June 30, 2024. The change was primarily attributable to the Mega Fortune Disposition completed
on July 5, 2024.

20

Net
loss

Net
loss decreased by $123,993 to $70,513 from $194,506 for the nine months ended June 30, 2025, compared to the same period in 2024. This
decrease is primarily driven by decrease in professional fees due to Mega Fortune Disposition completed on July 5, 2024.

Other
comprehensive loss

Foreign
currency translation gain

There
is no foreign currency translation difference for the nine months ended June 30, 2025. Foreign currency translation gain of $6,872 for
the nine months ended June 30, 2024 is incurred